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Emerging Prudential Risks
CBIRC Issues Draft Rules for Major Bank Shareholders
By Sanday Chongo Kabange | 21/06/2021
Major shareholders cannot use borrowed funds to invest in banks, take out loans from the banks they invest in, or have cross-shareholdings with other banks.
Tokenisation
Indian Banks to Develop Blockchain System for LCs
By Ranamita Chakraborty | 21/06/2021
The initiative will eliminate paperwork, reduce transaction processing time and offer a secure environment for processing LCs.
Payments & Settlements
MAS to Migrate MEPS+ to ISO 20022 in June 2022
By Manesh Samtani | 21/06/2021
MAS is adopting a two-phased approach to migrate to ISO 20022, beginning with payments on MEPS+ in June 2022.
Structural Regulation
SEBI Planning Dedicated Framework For SPACs – Report
By Sanday Chongo Kabange | 21/06/2021
To allow SPACs in India, SEBI would have to either introduce a separate law or amend current regulations.
Structural Regulation
China Tightens Rules on Commodity Price Index Compilers
By Editors | 21/06/2021
The new rules will help to standardise how commodity price indexes are compiled and improve transparency on the release of information.
Conduct, Culture & Accountability
New Competency Framework to Take Effect from January: SFC
By Editors | 21/06/2021
Raising professional standards is crucial to maintain quality markets, particularly in view of the rapidly evolving financial landscape, says SFC chief Ashley Alder.
Liquidity Risk
US Fed Extends Swap Lines with Nine Central Banks
By Sanday Chongo Kabange | 20/06/2021
The Fed has extended facilities provided to the central banks of Australia, Korea, Singapore and New Zealand, among others.
Structural Regulation
CBIRC Approves First Fully Foreign Owned Money Broker
By Editors | 20/06/2021
Japan’s Ueda Yagi Tanshi will become the first foreign firm to commence currency brokerage business in China under a fully-owned unit.
Trading & Investment
Hong Kong-Thailand Mutual Recognition of Funds Takes Effect
By Manesh Samtani | 17/06/2021
Hong Kong’s SFC and Thailand’s SEC say the MRF scheme has taken effect. Both have issued new guidance on obtaining authorisation under the scheme.
Structural Regulation
BSP to Issue Strict Regulations On ‘Digital Bank’ Branding
By Ranamita Chakraborty | 17/06/2021
Banks that do not meet specified conditions are prohibited from marketing themselves as digital banks, the BSP said in a circular.
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