Trading & Investment

US Treasury Labels Vietnam, Switzerland as Currency Manipulators

17/12/2020

Taiwan, Thailand, and India have been added to Treasury’s monitoring list. Singapore intervened in the foreign exchange market in a “sustained, asymmetric manner”.

Fraud, Scams & Cybercrime

US SEC Settles Luckin Coffee Fraud Charges for $180m

17/12/2020

Luckin materially misstated its revenue, expenses, and net operating loss to falsely appear to achieve rapid growth and increased profitability, the SEC said.

Operational Risk

MAS Consults on Operational Risk Capital, Leverage Ratio Requirements

17/12/2020

MAS intends to implement the revised standards for operational risk capital and leverage ratio requirements from 1 January 2023.

Trading & Investment

Euroclear Bank, Japan Launch New Asset Class: ‘Origami Bonds’

17/12/2020

Japanese cities Kobe and Yokohama as well as Shizuoka Prefecture were the first three issuers to utilise the new Origami bond structure.

Anti-Money Laundering

Korea’s FIU Upgrades AML System to Boost Processing Capacity

17/12/2020

The upgraded AML system has increased KoFIU’s processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.

Payments & Settlements

Australia’s Domestic Payment Organisations Propose to Amalgamate

17/12/2020

Australia’s eftpos, BPAY Group and NPPA will be preserved as distinct operations under a single Board with a shared roadmap for innovation and investment.

Structural Regulation

Taiwan FSC Cautions New Digital Banks Against Price Wars

17/12/2020

Taiwan’s new digital-only banks should offer innovative products and services instead of resorting to pricing competitions to attract clients, says FSC Chairman Thomas Huang.

Emerging Prudential Risks

Fast Growing NBFI Sector Presents Financial Stability Risk: FSB

17/12/2020

NBFI that poses financial stability risk grew by 11.1% in 2019, at a faster pace than the average 7.1% annual growth rate from 2013-18.

Market Risk

HKMA Consults on Implementation of Revised CVA Risk Framework

17/12/2020

The revised CVA risk capital framework is likely to have significant impacts on banks, particularly for those with material CVA risk exposures, the HKMA says.