Capital Adequacy

Singapore Digital Banks Urge MAS to Lift Caps on Deposits

14/07/2023

Grab’s GSX Bank and  Sea’s MariBank say the deposit cap imposed on new digital banks is hindering their ability to expand and lend.

CBDCs

HDFC Bank Implements Interoperability between CBDC and UPI

13/07/2023

HDFC Bank customers with UPI IDs can use the QR code at retail shops to transfer funds directly from their CBDC wallets.

Fraud, Scams & Cybercrime

Australian Banks Push Back on Mandatory Scam Reimbursements

13/07/2023

CBA deputy CEO David Cohen warned of a “moral hazard trap”. ANZ CEO Shayne Elliott said the UK voluntary code model wouldn’t stop scams.

Anti-Money Laundering

SEC Settles Charges Against Merrill Lynch for Failing to File SARs

13/07/2023

Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.

Climate Risk

Majority of SGX-Listed Firms Embrace Climate Reporting Initiatives

13/07/2023

New report shows two-thirds of SGX listed companies have embarked on climate reporting initiatives.

Payments & Settlements

Cambodia Launches Cross-Institutional Payment System for ATM, POS Services

13/07/2023

The Cambodian Shared Switch aims to enhance payment transactions through payment cards in Cambodia.

Trading & Investment

UK Seeks to Undo EU Restrictions on Short-Selling Gilts

13/07/2023

HM Treasury proposes to eliminate EU-mandated rules that govern investors’ short positions in government debt and credit-default swaps.

Cloud & Infrastructure

HKIMR Report Urges Focus on Financial Inclusion and Sustainable Innovation

13/07/2023

The report highlights the need for continuous investments in human capital and skills development to foster innovation.

Data Privacy

HK Privacy Commissioner Issues Guidance on Data Breach Handling

13/07/2023

The guidance emphasises the need for organisations to develop comprehensive data breach response and post-incident action plans.