Trading & Investment

China: Bond Underwriters Pledge to End Excessive Price Competition

05/05/2020

The pledge is part of a “self-discipline” pact which NAFMII asked bond underwriters to sign, in a bid to end the practice of offering ultra-low underwriting fees to gain market share.

Liquidity Risk

BNM: Banks Can Use Govt Bonds to Meet Reserve Requirement

05/05/2020

The move is expected to release about $3.7mn of liquidity into the banking system. BNM has also cut its overnight policy rate to the lowest level since 2009.

Sustainable Finance

HK Regulators Establish Green and Sustainable Finance Steering Group

05/05/2020

Initiated by the HKMA and SFC, the Steering Group will coordinate across other agencies and sectors to position Hong Kong as a global leader in green and sustainable finance.

Trading & Investment

Sri Lanka to Implement New Stock Market Circuit Breaker

05/05/2020

Sri Lanka’s SEC has directed the Colombo Stock Exchange to implement the new circuit breaker structure when the market reopens after its closure on 20 March.

Resolution & Recovery

Korea Development Bank Act Amended to Enable Bailout Fund

05/05/2020

Aid recipients will have to maintain staff in employment and refrain from dividend payouts, share buybacks and executive compensation.

Structural Regulation

Malaysia: SC Allows E-wallet, E-payment Firms to Distribute Investment Products

05/05/2020

Operators of e-wallet or e-payment applications can register with the SC and partner with capital markets licence holders to distribute investment products to investors.

Anti-Money Laundering

FATF Offers Policy Guidance for Managing Covid-19 Related AML Risks

05/05/2020

FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.

Capital Adequacy

Philippines: BSP Allows Banks to Draw on Capital, Liquidity Buffers

05/05/2020

Banks that draw from the capital conservation buffer or fall below 100% LCR will not be considered in breach of Basel III rules.

Anti-Money Laundering

Westpac Internal Probes Identify More AML Breaches

04/05/2020

Westpac has identified an estimated 60,000 to 90,000 threshold transaction reports that were not reported to AUSTRAC, and potential problems with its FATCA and CRS compliance.