Digital banks must meet the same Basel III capital, liquidity and leverage requirements applicable to universal and commercial banks.
September 22, 2022The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.
September 7, 2022Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.
August 31, 2022The latest round of repayments are being made to individuals with deposits of between CNY 350,000 and CNY 400,000.
August 23, 2022Authorities will initially consider selecting six provinces to pilot an initiative to speed up the disposal of bad loans from small- and medium-sized banks.
August 18, 2022Chinese authorities in Henan and Anhui have repaid more depositors whose savings have been frozen for months.
August 8, 2022Some customers have had difficulty signing up for a repayment scheme and data has been removed from banks, delaying some payments.
July 21, 2022The four Henan rural banks which froze withdrawals will start repaying some customers. The CBIRC pledged to formulate a disposal plan soon.
July 14, 2022Initial investigations have revealed that the online transaction systems of the banks which suspended withdrawals were manipulated.
June 24, 2022RBAP president Albert Concha says higher capital requirements proposed by BSP will cause rural bank closures and stunt financial inclusion initiatives.
June 8, 2022