Capital / Liquidity

BSP Announces New Round of Reserve Requirement Cuts

25/10/2019

The fresh 100bp RRR cut follows a 100bp cut announced last month and a three-step 200bp cut from May to July this year.

Fintech / Regtech

Australia Senate Committee Releases Fintech, Regtech Issues Paper

25/10/2019

The issues paper identifies five key factors for the fintech and regtech sectors which the committee will focus its attention on in a year long inquiry.

AML / KYC

Philippines to Start Issuing New National IDs in April

24/10/2019

The new IDs will make it easier for the unbanked to open accounts and avail of financial financial services, said BSP governor Benjamin Diokno.

Fintech / Regtech

Cambodia Announces Soft Launch of New Payment System

24/10/2019

Launched in partnership with 7 financial institutions, the new system will enable real-time interbank transfers, mobile payments, and QR code payments.

Securities / Derivatives

Myanmar to Open Stock Market to Foreign Nationals in Phases

24/10/2019

The SECM has decided to open the stock market only to foreign nationals living in Myanmar for the time being, but a new board planned for Q3 2020 will reportedly allow foreigners to trade freely.

Enforcement

ACCC Mortgage Pricing Inquiry to Extend Beyond Mortgage Pricing

24/10/2019

ACCC chairman Rod Sims reportedly told a parliamentary hearing that bundling products such as credit cards and insurance would form part of the agency’s inquiry.

Market Infrastructure

Philippines to Adopt QR Codes for Payments Nationally

24/10/2019

Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.

CBIRC Tightens Oversight on Structured Deposits Sold by Banks

24/10/2019

Banks can only offer structured deposit products if they have derivatives trading licences, and they must ensure the sales process is done in a “legally compliant manner”.

AML / KYC

Three Indonesians Charged with Terrorism Financing in Singapore

24/10/2019

The three individuals are said to have provided a total of about S$1,500 to individuals in Indonesia for the purpose of facilitating terrorist acts after being ‘radicalised’ last year.