The CBIRC is seen to be enforcing strict penalties in order to strengthen market discipline and improve internal control and governance at banks.
June 22, 2022The Common Ground Taxonomy, first published in November by the EU and China, was updated following consultation.
June 17, 2022Bank of China, China Everbright Bank, and their two wealth management subsidies were fined a total of almost CNY 15 million.
June 9, 2022State-owned banks including BOC, CDB, ICBC and CCB were fined a total of USD 13.8 million for data quality and reporting issues.
April 5, 2022State-owned entities are being asked to provide data on their exposures energy and commodity-linked derivatives contracts.
March 10, 2022The pilot scheme began in September with 4 domestic banks being allowed to offer retirement wealth management products in four cities.
March 2, 2022Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.
March 1, 2022A new open-source software toolkit has also been published to enable financial institutions to automate the fairness metrics assessment.
February 6, 2022Six domestic banks and five foreign banks were selected to serve as market makers of the KRW-RMB direct trading market in 2022.
January 4, 2022The Bank of East Asia was no longer identified as a D-SIB in the assessment considering its systemic importance relative to other institutions, the HKMA said.
December 28, 2021