Manesh manages the news desk and serves as an editor at Regulation Asia. He covers regulatory changes across Asia Pacific that impact banking, capital markets, asset management, and financial services more generally. Manesh is a former trader and investment consultant with a degree in Finance and Banking. manesh@regulationasia.com
Big Picture
New Mediums of Exchange Will Add to HK’s GDP: Report
25/03/2024
BCG, DLA Piper, HKT Payment Limited, paywith.glass, VSFG and ZA Bank say CBDC, tokenised deposits and stablecoins will add HK$160bn to Hong Kong’s GDP by 2032.
Hong Kong to Raise Bank Licence Fees Nearly 30%
22/03/2024
An HKMA review concluded that the proposed increase in fees should be “manageable” for affected financial institutions.
ESG / Sustainability
Hong Kong Progresses Work to Expand Green Bond Programme
21/03/2024
A new Infrastructure Bond Programme will be established and the Government Green Bond Scheme will be expanded and renamed to cover sustainable projects.
Crypto / Digital Assets
Hong Kong: Prototype Created to Issue Electronic Bills of Lading
21/03/2024
The eBL prototype, developed by GSBN and Ant Group, is being used in the HKMA’s wholesale CBDC sandbox project.
Crypto / Digital Assets
OECD Assesses DeFi’s Role in ASEAN to Promote Financial Inclusion
20/03/2024
Innovation associated with DeFi, provided in a regulated and compliant form, could offer possible financial inclusion benefits such as in MSME financing.
ESG / Sustainability
ASIC to Develop Climate Reporting Guidance for Small Businesses
20/03/2024
Scope 3 requirements for larger businesses mean small businesses may come into scope, even if they do not have direct climate reporting obligations.
ESG / Sustainability
BIS Demonstrates the Use of GenAI in Climate Risk Analysis
20/03/2024
Project Gaia delivered a platform that can extract data from corporate climate-related disclosures and generate harmonised metrics, despite differences in disclosure frameworks.
Capital / Liquidity
RBNZ Assesses Initial Impacts of New Bank Capital Framework
20/03/2024
All NZ banks met their capital requirements over the previous two years. Costs of capital broadly in line with initial estimates. No evidence of financial market disruptions.
Market Infrastructure
FSB Updates Guidance on Operational Continuity in Resolution
19/03/2024
A supplementary note was added to address today’s dependencies on third-party providers for critical shared services, and the digitalisation of such services.
Crypto / Digital Assets
FSS Korea Issues 2024 Virtual Asset Supervision Workplan
19/03/2024
The supervision work plan includes measures to support regulatory compliance by VASPs ahead of the Virtual Asset Users Protection Act coming into force on 19 July 2024.
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