Other Asia Pacific

Market Infrastructure

Indonesia Discontinues JIBOR In Favour of Market-based Indonia

By Garima Chitkara | 09/08/2018

Indonesia’s central bank has announced a new market-based overnight rate to replace its current interbank offer rate to boost reliability of the rates and policy transmission.

Fintech / Regtech

Philippines Proposes Regulatory Framework for ICOs

By Editors | 09/08/2018

Draft rules propose issuers undergo initial assessment to determine if ICO tokens are securities; security tokens must be registered with the SEC and proceeds must be maintained in escrow.

Capital / Liquidity

Moody’s Assigns Stable Outlook To Thai Banks

By Garima Chitkara | 06/08/2018

The Thai banking industry will see improved operating environment given robust economic growth along with strong capitalisation and government support, according to an assessment by Moody’s.

Capital / Liquidity

BSP Approves PFRS 9 Adoption at Philippine Banks

By Garima Chitkara | 06/08/2018

Philippines domestic guidelines for IFRS 9 have been adopted by the central bank with additional requirements for governance overlaid on rules for impairment of bank assets.

AML / KYC

Philippines, Indonesia to Cooperate on AML/CFT

By Editors | 06/08/2018

The governors of BSP and BI signed an MoU to cooperate on AML and CFT for payment and settlement systems, focusing on policy dialogue, information exchange and capacity building.

Market Infrastructure

Thailand Banks Hit by Cyber Attack Resulting in Data Leak

By Garima Chitkara | 02/08/2018

Hackers have stolen non-financial data of over 120,000 customers from Kasikornbank and Krungthai Bank in the first such data leak in the Thai banking sector.

Market Infrastructure

Thailand to Offer Fee-Free ‘Basic’ Banking

By Garima Chitkara | 01/08/2018

Thailand’s banks will offer basic accounts that exempt senior citizens and welfare recipients from entry fees, annual charges and minimum deposit requirements.

Capital / Liquidity

Vietnam ‘Bad Bank’ Drives NPL Ratios Below 3pc

By Garima Chitkara | 01/08/2018

Setup five years ago, the Vietnam Asset Management Company is responsible for resolving 40% of NPLs, helping bring down NPL ratios at commercial banks to just 2.18 percent currently.

Market Infrastructure

CPMI-IOSCO Report Shows PFMI Implementation Progress

By Manesh Samtani | 27/07/2018

21 of 28 jurisdictions self-attest to full implementation of PFMI; South Korea’ implementation gap relates to trade repositories, while Indonesia’s relates to clearing and settlement systems.