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Resolution & Recovery
FSC Korea Orders Citi to Submit Detailed Plans on Market Exit
By Editors | 31/10/2021
Citi is asked to submit a detailed plan for how it will protect consumer rights as it exits its retail banking business in Korea.
Sustainable Finance
BSP Directs Banks to Integrate Environmental, Social Risks
By Editors | 31/10/2021
Banks have to integrate environmental and social risk in their risk management frameworks and when defining their credit strategy.
Credit Risk
BOT Relaxes Mortgage Lending Rules to Boost Property Market
By Editors | 28/10/2021
The BOT is allowing LTV ratios of up to 110 percent, including top-up loans for home decoration, for first homes priced below THB 10 million.
Anti-Money Laundering
FATF Keeps Pakistan on Grey List with 4 Action Items Outstanding
By Editors | 21/10/2021
Marcus Pleyer said “there is no discussion on blacklisting Pakistan” as its government has demonstrated a “clear commitment” and is cooperating with the FATF.
Cryptocurrency
Sri Lanka to Develop Regulatory Framework for Cryptocurrency
By Sanday Chongo Kabange | 15/10/2021
The committee will advise Sri Lanka’s cabinet on a regulatory framework for Sri Lanka for blockchain, digital banking and crypto mining.
Capital Adequacy
BSP Migrates to API-Based Regulatory Reporting
By Sanday Chongo Kabange | 14/10/2021
Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.
Credit Risk
BSP Raises Loan Limits to Bolster Project Finance
By Editors | 11/10/2021
The single borrower limit was increased to mobilise funding toward projects that support the Philippines’ economic recovery efforts and nation building.
Emerging Prudential Risks
BSP Proposes Prudential Requirements for Digital Banks
By Editors | 11/10/2021
The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.
Fraud, Scams & Cybercrime
BSP Urges Passage of Bill to Tackle Rising Cybercrime
By Ranamita Chakraborty | 05/10/2021
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
KYC & CDD
BSP Updates e-KYC Guidelines for Financial Institutions
By Ranamita Chakraborty | 03/10/2021
The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.
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