(ATF) Baoshang Bank, which has been described as serving as an “ATM” for billionaire Xiao Jianhua’s Tomorrow Holdings conglomerate, has started bankruptcy proceedings after regulators took control of the Inner Mongolian lender in May 2019 because of its serious credit risks.The China Banking and Insurance Regulatory Commission agreed that Baoshang …
(ATF) The Reserve Bank of India seized control of the struggling Lakshmi Vilas Bank on Tuesday and forced a merger with the local unit of Singapore’s largest lender, DBS Bank.The intervention to invite DBS “with strong capital support” to rescue the capital-starved private lender Lakshmi Vilas comes after the Reserve …
(ATF) Chinese corporate and municipal bonds rose for a record 17th day Monday amid encouraging economic news and after the central bank pumped money into the financial system while holding down rates.The nation’s higher-rated debt also advanced as investors grew optimistic again about the prospects of a global recovery from …
(ATF) China has issued a series of new regulations, most of which start in November – in two days time. The most significant is that payment institutions must not collect consumer financial information that is not related to business in hand.The Implementation Measures for the Protection of the Rights and …
(ATF) The People’s Bank of China has announced the release of China’s FinTech Development Indicators. This system is based on the central bank's Fintech Development Plan issued for 2019-21 and has three main facets: institutional indicators, industry indicators and regional indicators. The new indicators will act as a guide. They …
TOKYO: Japan has no immediate plan to issue central bank digital currency (CBDC), Bank of Japan Governor Haruhiko Kuroda said on Tuesday as financial leaders from the Group of Seven (G7) advanced economies shared a common view on digital payments."The BOJ has no immediate plan to issue CBDC," Kuroda told …
(ATF) Central banking is entering a new era. Policymakers aren’t giving up on 30 years of inflation targeting, but they are adding new, overtly political goals to their remit. That spells uncertainty, possibly confusion, for markets when economies eventually recover from Covid-19 and price pressures resurface.After the Reserve Bank of …
