Other Asia Pacific

BSP Relaxes Reporting Requirements for Financial Institutions

By Editors | 07/03/2021

The BSP is reducing reporting requirements related to the borrowings of directors, officers, stockholders and their related interests.

Market Infrastructure

BSP Issues Guidance on Reporting of LIBOR Exposures

By Manesh Samtani | 05/03/2021

Banks are required to report on all derivatives, as well as assets and liabilities that are interest-bearing, even where there is no LIBOR or PHIREF exposure.

AML / KYC

Singapore Banks Asked to Monitor Myanmar Fund Flows

By Manesh Samtani | 05/03/2021

MAS is concerned about financial crime risk. New cash withdrawal limits have been imposed in Myanmar. A military-owned bank has suspended operations.

Securities / Derivatives

BSEC Prepares Draft Rules for Stock Stabilisation Fund

By Ranamita Chakraborty | 04/03/2021

The fund will be set up using unclaimed cash and stock dividends and be used to help stabilise the capital market.

Big Picture

ASIFMA Calls for Harmonised Approach to Public Cloud Regulation

By Editors | 02/03/2021

Varying regulatory approaches across jurisdictions pose significant challenges to FIs trying to implement the public cloud as part of their global strategy.

Capital / Liquidity

FSB Urges Indonesia to Further Advance OTC Derivatives Reforms

By Editors | 02/03/2021

Indonesia needs to address legal uncertainties relating to netting for derivatives transactions in bankruptcy to facilitate central clearing and margin requirements.

Capital / Liquidity

Bangladesh Bank Revises Credit Risk Rating System

By Sanday Chongo Kabange | 01/03/2021

Bangladesh Bank has directed lenders to consider either 2019 or 2020 audited financial statements when determining borrowers’ credit risk ratings for 2021.

AML / KYC

Philippine SEC Orders Corporations to Declare Beneficial Owners

By Ranamita Chakraborty | 01/03/2021

Corporations in the Philippines have until 31 March to submit an online form declaring their beneficial owners, principals and nominee arrangements.

Crypto / Digital Assets

Thailand SEC to Enhance Protections for Digital Asset Investors

By Editors | 01/03/2021

The SEC is consulting new qualifications for retail investors in digital assets, and requiring digital asset fund managers and investment advisors to be licensed.