Climate Risk

China Issues Rules for Relaunch of Voluntary Carbon Market

29/10/2023

The relaunch of the CCER scheme will provide a voluntary mechanism for participants in the national carbon market to offset emissions.

Climate Risk

Global CEOs Calls for More Government Action on Climate

28/10/2023

The Alliance of CEO Climate Leaders calls for streamlined regulatory processes and globally harmonised climate disclosure and measuring standards.

Payments & Settlements

US Regulator to Lower Fees on Debit Card Transactions

28/10/2023

The Fed proposed to lower the cap on fees banks can charge merchants for processing debit card transactions.

Credit Risk

Country Garden Declared in Default on Offshore Bonds

28/10/2023

Country Garden is expected to move towards a restructuring that is expected to have a worse impact than Evergrande’s 2021 failure.

Emerging Prudential Risks

China Unveils Plans to Tackle Local Govt Debt Risks

27/10/2023

China will issue CNY 1 trillion of government bonds and allow local governments to front load part of their 2024 bond quotas.

KYC & CDD

Taiwan FSC Issues New Digital Identity Verification Guidelines

27/10/2023

The guidelines will make it easier for financial institutions to implement new identity verification mechanisms and scenarios.

Anti-Money Laundering

BAFT Updates Guidelines on Correspondent Banking Relationships

27/10/2023

The guidelines include new sections on ISO 20022 migration and special considerations for money services businesses and fintechs.

Capital Adequacy

China Finalises New Capital Management Rules for Banks

27/10/2023

The new rules revise how risk weights are measured, enhance supervision of the banking sector and improve information disclosure requirements.

Anti-Money Laundering

Penalties for Non-Enrolment with AUSTRAC to Start on 9 Nov

26/10/2023

Businesses that provide designated services without enrolling with AUSTRAC will accrue daily penalties starting from 9 November.