Payments & Settlements

Data Privacy

Singapore, Australia Agree to Promote Data Connectivity, Digital Economy

By Editors | 23/03/2020

Singapore and Australia have committed to allowing financial institutions to choose where their data is stored and prohibiting data localisation, among a raft of other agreements.

Credit Risk

Bank Indonesia Cuts Rates Again, OJK Demands Leniency for Borrowers

By Editors | 22/03/2020

Banks have also been told not to use debt collectors during the Covid-19 pandemic, and to instead help customers by restructuring existing debt and granting new subsidised loans.

Structural Regulation

SAFE Expands Cross-border Financing Channels for High-tech Firms

By Editors | 20/03/2020

A Beijing science park programme to allow high-tech firms to access cross-border funding will be expanded to cover Shanghai, Hubei, Guangdong and Shenzhen.

Payments & Settlements

Fed Establishes FX Swap Lines with Nine Central Banks

By Editors | 19/03/2020

Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.

Payments & Settlements

RBI Brings Payment Aggregators Under Regulatory Remit

By Editors | 19/03/2020

The capital requirement for payment aggregators has been reduced to 150mn rupees, down from 1bn rupees proposed in September.

Payments & Settlements

SWIFT Defers ISO 20022 Start Date for Cross-border Payments

By Editors | 18/03/2020

ISO 20022 messages for cross-border payments and cash reporting businesses will start from end 2022 instead of November 2021 as originally planned.

Trading & Investment

Philippine Markets Shut, Central Bank Promises Regulatory Relief

By Editors | 17/03/2020

The Philippines has halted stock, bond and currency trading ‘until further notice’. The BSP is urging banks to provide financial relief to customers and employees.

Payments & Settlements

RBI Intervenes to Provide US Dollar, Rupee Liquidity

By Editors | 16/03/2020

The RBI’s move to provide US dollar liquidity amid a sinking rupee had the unintended consequence of squeezing liquidity in its domestic currency.

Structural Regulation

Singapore Exchange Introduces S$5m Covid-19 Care Package

By Editors | 16/03/2020

S$1.5mn will be contributed to national healthcare-support programmes, while S$3.5mn will be used to support Singapore-listed companies and SGX employees and contract staff.