Asset Managers Do Not Pose Systemic Risk, Says Medcraft

23/06/2015

Australian Securities and Investments Commission chairman Greg Medcraft dismisses concerns that large asset managers pose a systematic risk to the financial system.

New Governance Code May Help Japanese Banks Reduce Holdings of Client Stocks

23/06/2015

Japan’s new corporate governance code may enable banks to sell off holdings of clients’ stocks and free up their balance sheets.

Moody’s Sees Korean Banks as Credit Positive

23/06/2015

The high liquidity coverage ratios reported by Korean banks with their March quarterly results are credit positive, according to a report by Moody’s Investors Service.

Bank of China Becomes First Asian Firm to Help Set London Gold Price

22/06/2015

Bank of China has been approved to participate in the London Bullion Market Association auction which sets the price of gold in the London market.

Securities / Derivatives

Malaysia Online Submission System to Shorten Time-to-Market for Financial Products

22/06/2015

Under Malaysia’s Securities Commission’s new framework wholesale products can be launched once the required information is lodged via its online submission system.

China Allows Provincial Regulators to Approve Asset-Backed Securities

20/06/2015

China has given powers to the provincial offices of its bank regulator to approve asset-backed securities in a bid to quicken the development of the securitisation market.

CIPS to Launch by Year-End

19/06/2015

The People’s Bank of China has issued a report on RMB internationalisation, which includes confirmation of the year-end launch of its new payments system.

Crypto / Digital Assets

Aussie Banks Test Digital Currency Ripple as New Payments Technology

19/06/2015

ANZ Bank and Westpac have joined Commonwealth Bank in testing new payments technology from US-based group Ripple Labs, representing a possible transformation of the payments industry.

Japan, China, U.S. Jointly Push FATF on Virtual Currency Regulation

18/06/2015

Financial authorities of Japan, the United States and China plan to establish joint regulations to prevent the use of virtual currencies to finance illegal activities such as terrorism.