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AML / KYC
BOT Plan to Allow Biometric e-KYC Delayed in Testing
By Editors | 09/10/2019
The BOT had planned to allow the use of biometric identity verification for account opening by Q3 this year, but testing in the sandbox has not yet been completed.
Capital / Liquidity
Initial Margin Challenges Confronting Asian Markets
By Purtini Joshi | 08/10/2019
DTCC’s Purtini Joshi outlines three key challenges firms need to address to ensure compliance with Phase 5 and Phase 6 implementation of initial margin regulations.
AML / KYC
Thailand Cabinet Approves Draft AML Regulations
By Editors | 08/10/2019
Under the rules, financial institutions will be required to obtain additional source of funds information from customers for cross-border transfers exceeding 50,000 baht.
Capital / Liquidity
Philippines Amends Framework for Identifying D-SIBs
By Editors | 04/10/2019
The BSP will give more importance to a bank’s size and interconnectedness when deciding which lenders should be classified as D-SIBs.
Market Infrastructure
Indonesia Announces Rules for the Establishment of CCPs
By Editors | 04/10/2019
The new rules from Bank Indonesia will take effect from June 2020, but the first CCPs for derivatives markets are unlikely to be operational until 2023.
Fintech / Regtech
BSP Streamlines Rules for Payment System Operators
By Editors | 03/10/2019
The Philippine central bank has simplified the registration process for payment system operators, and created a new consolidated manual of regulations to facilitate compliance.
Capital / Liquidity
Bangladesh Bad Loan Problem is Double Reported Figures: IMF
By Editors | 02/10/2019
Total problem assets in Bangladesh’s banking sector would rise by more than double if the computation included stay orders, special mention accounts, and rescheduled loans.
Big Picture
EU Equivalence Needed on Cross-Border Intragroup Transactions
By Editors | 01/10/2019
ISDA and EU banking associations are calling for equivalence decisions to be prioritised for Australia, Hong Kong, Singapore and South Korea, among others.
Capital / Liquidity
BSP Lowers Bank Reserve Requirement Ratio
By Editors | 01/10/2019
The 100bp cut in bank reserve requirements is expected to free up about $2.1bn in the financial system “in support of credit activity”.
Market Infrastructure
APAC Central Banks Prepare Market for Benchmark Reforms
By Editors | 27/09/2019
A group of APAC central banks have issued a report on the regional implications of LIBOR’s discontinuation, BMR implementation, and reforms to local benchmarks.
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