Australia signs Bilateral Local Currency Swap Agreement with the Bank of Korea

25/02/2014

The Reserve Bank of Australia signed a bilateral local currency swap agreement with the Bank of Korea, allowing for the exchange of local currencies between the banks even in times of financial stress.

Australian Securities Regulator Calls for Tougher Penalties for White-Collar Crime

25/02/2014

The Australian Securities and Investments Commission has called for tougher penalties to combat corporate misconduct.

Securities / Derivatives

Indonesian Regulator Seeks Dividend Cuts for State Lenders to Boost Capital

25/02/2014

Indonesia’s financial industry regulator is urging the government to review the dividend policy for state-owned lenders.

Securities / Derivatives

Taiwan Regulator to Relax Offshore Expansion Rules for Securities Firms

25/02/2014

The Financial Supervisory Commission plans to relax rules as early as next quarter to facilitate securities firms’ reinvestment efforts overseas.

Securities / Derivatives

Philippines Central Bank Urges Congress to Allow Entry of More Foreign Banks

25/02/2014

The Bangko Sentral ng Pilipinas has asked Congress to pass a bill easing restrictions on foreign banks investing in the country.

Indonesia, Pakistan, Myanmar on FATF’s Gray List

24/02/2014

The Financial Action Task Force, the international body for setting global standards for combating money laundering and terrorist financing, kept the Asian countries on its gray list.

S.Korea to Establish 20-Year Government Bond Futures by 2015, Monitor Yuan Deposits

24/02/2014

The Financial Services Commission plans to launch a 20-year government bond futures market by 2015 to boost derivatives trading activity.

China to Expand Yuan Trading Band This Year

21/02/2014

The People’s Bank of China will expand the yuan’s trading band this year and quicken convertibility on the capital account.

Australian Banks Welcome US Decision to Adopt Relaxed Ruling on Foreign Banks

21/02/2014

The Federal Reserve has adopted a new rule that will protect the US financial system from potential problems from foreign banks operating in the country.