Global shadow banking activities rose 7.6 percent to $45.2tn in 2016, representing 13 percent of total financial system assets; China contributed $7tn to the measure.
MoU aimed at promoting market development initiatives in Asia Pacific region, including for derivatives, secondary listings and ETFs.
New measures would require firms to have clearly defined information-security related roles, capabilities and controls to boost their ability to repel cyber criminals and respond to breaches effectively.
Extension of MoU includes cooperation on cross-border transactions, product development, information technology and knowledge sharing.
Reserve Bank of New Zealand is working to improve its disclosure regime to uphold three regulatory pillars: self-discipline, market discipline and regulatory discipline.
Other market boosting measures include a stamp duty waiver for stocks, as well as new ETF, ASEAN-centric and derivatives product launches.
New rules propose an approach focused on financial function rather than individual entities; and are expected bring traditional financial firms and fintech firms on level playing field.
Pre-approvals no longer required for wealth management, custody services; procedures simplified for branch opening, executive appointments, bond issuance.
ASEAN CIS framework revised to open greater fund participation between Malaysia, Singapore and Thailand.
Punjab National Bank says $1.8bn fraud went undetected because staff failed to enter SWIFT instructions in core banking software.
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