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CBDCs
Cambodia Explores Cross-border Transactions Using ‘Bakong’
By Editors | 10/08/2021
Cambodia launched its Bakong digital currency in October 2020. In the first half of 2021, 1.4 million transactions worth $500mn were recorded.
Structural Regulation
Myanmar Central Bank Restricts Foreign Hiring at Banks
By Editors | 10/08/2021
CBM approval is needed to hire foreign employees. Large banks are limited to 25 foreign employees; medium-sized banks to 15; and small banks to 8.
Payments & Settlements
SEBI Allows Payments Banks to Perform Investment Bank Activities
By Ranamita Chakraborty | 10/08/2021
Payments banks will be able to accept application money, allotment or call money, and make payments of dividend or interest warrants.
Payments & Settlements
ACCC Consults on Merger of BPAY, eftpos and NPP Australia
By Editors | 10/08/2021
A court enforceable undertaking is proposed to address concerns that the merger could reduce investment and support for eftpos and decrease the availability of least-cost routing.
Structural Regulation
Australia Tweaks Fee Component of Super Fund Performance Test
By Editors | 10/08/2021
The test will be based on the most recent financial year of administration fees, rather than the past eight years, to incentivise fee reductions.
Structural Regulation
Thailand’s Proposed SME Board Falls Short of Market Needs
By Pongnut Thanaboonchai | 09/08/2021
The SEC’s proposed SME board is unlikely to facilitate access to capital for startups that are most in need of funding, says Pongnut Thanaboonchai.
Structural Regulation
JP Morgan Approved to Take Full Ownership of China Securities Unit
By Editors | 08/08/2021
JP Morgan already had a controlling stake in the unit. The new approval makes it the first foreign firm to fully own a securities venture in China.
Clearing & Post-Trade
LCH Set to Switch Discounting, PAI Rate from SOR to SORA
By Editors | 08/08/2021
LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.
Structural Regulation
RBI Amends Guidelines to Facilitate LIBOR Transition
By Manesh Samtani | 08/08/2021
Banks are permitted to extend export credit using alternative rates. A change in the benchmark used in a derivatives contract need not be treated as a restructuring.
Structural Regulation
US SEC Approves Nasdaq Proposal on Board Diversity
By Manesh Samtani | 08/08/2021
The new rules will require listed companies to meet race and gender targets, or explain in writing why they have failed to do so.
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