Other Asia Pacific

Trading & Investment

ASIFMA Publishes IBOR Transition Guide for Asia

By Editors | 14/07/2020

The guide provides an overview of issues for FIs to consider in their LIBOR transition programmes and an implementation checklist.

Trading & Investment

Thailand Proposes Rule Changes to Enable Hong Kong MRF

By Editors | 13/07/2020

The mutual recognition of funds scheme will help promote the competitiveness of Thai fund managers and increase investment options for investors in both markets.

Trading & Investment

Philippines Proposes Regulatory Framework for Corporate Debt Funds

By Sanday Chongo Kabange | 13/07/2020

The new closed-end investment vehicle will enable investment in debt paper issued by large and medium-sized corporations, to help avert credit and liquidity crises.

Liquidity Risk

Banks ‘Must’ Pass on Reduce Rates to Borrowers: CBSL

By Duruthu E Chandrasekera | 10/07/2020

Sri Lanka’s central bank has cut interest rates again and is ramping up pressure for banks to reduce the rates they charge borrowers, particularly small businesses.

Supervision & Enforcement

Indonesia’s Planned Bank Regulation Reshuffle Will Take Time

By Duruthu E Chandrasekera | 08/07/2020

President Joko Widodo’s plan to return bank oversight functions to Bank Indonesia is unlikely to be an immediate fix for the ongoing Covid-19 related challenges.

KYC & CDD

Sri Lanka Shortlists Three Firms to Build Shared KYC Facility

By Duruthu E Chandrasekera | 07/07/2020

The three shortlisted firms, including one from Sweden, will begin work on a proof-of-concept, which is expected to be completed in six to nine months.

Structural Regulation

BSP Set to Issue Digital Bank Licensing Framework

By Editors | 07/07/2020

Foreign individuals will be allowed to own up to 40% of a digital bank, while qualified foreign banks can own up to 100%.

Capital Adequacy

BCBS Releases 18th Progress Report on Basel III Adoption

By Editors | 06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

Fraud, Scams & Cybercrime

Nearly 500,000 Australians Deplete Retirement Savings

By Editors | 05/07/2020

Industry Super Australia estimates that 480,000 Australians have wiped out their superannuation savings through the government’s early release scheme.