Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Bank of Thailand Holds Policy Rate at 2.50% Despite Government Pressure for Cut
Thailand's central bank kept its benchmark rate unchanged at 2.50%, resisting calls from the government for easing in a 5–2 vote, with two members favouring a cut.
Reserve Bank of Australia Holds Cash Rate at 4.35% Amid Persistent Inflation Concerns
The RBA kept its cash rate at 4.35% in February 2024, retaining a mild tightening bias as inflation continued to run above the 2–3% target band.
South Korea's FSS Unveils 2024 Supervisory Plan Targeting Unlawful Short Selling and Stricter Bank Capital Rules
South Korea's Financial Supervisory Service announced a 2024 plan targeting unlawful short selling by global investment banks and bank-specific capital add-ons based on stress-test results.
ICBC Appoints Liao Lin as Chairman Following Chen Siqing's Age-Related Retirement
ICBC, the world's largest bank by total assets, has elected Liao Lin as its new Chairman, subject to regulatory approval, after Chen Siqing stepped down under the institution's age-related retirement policy.
Bank Australia and Qudos Bank Sign MoU to Explore Merger of Customer-Owned Lenders
Bank Australia and Qudos Bank have signed a memorandum of understanding to explore a merger that the two banks said would create one of Australia's largest customer-owned banks.
DBS Bank Merges Equity Capital Markets, Brokerage, and Digital Exchange into New Global Financial Markets Group
DBS Bank is to combine its equity capital markets, brokerage, Digital Exchange, and treasury markets units into a single Global Financial Markets group.
RBI Orders Paytm Payments Bank to Halt New Deposits After February Deadline Over Compliance Failures
India's central bank directed Paytm Payments Bank to stop accepting new deposits and top-ups after 29 February 2024, citing persistent non-compliance and supervisory concerns.
Bank of Japan Holds Negative Policy Rate at -0.10% Pending Wage Growth Evidence
The BoJ maintained its -0.10% policy rate and yield curve control framework, saying it needs to see sustained wage growth before any shift in its ultra-loose stance.
Taiwan FSC fines Hua Nan Commercial Bank NT$4 million over lottery prize payment errors
The regulator penalised Hua Nan Bank after a system conversion error in June 2023 added two zeros to uniform-invoice lottery prize transfers, producing 35,952 irregular payments.
Bangko Sentral ng Pilipinas Announces Green Taxonomy Development to Boost Climate Finance
BSP Governor Eli Remolona announced plans to develop a green taxonomy as part of a strengthened sustainability agenda, building on existing ESG bond incentives.
RBI Imposes ₹29.55 Lakh Penalty on ESAF Small Finance Bank for Customer Service Compliance Lapses
The Reserve Bank of India fined ESAF Small Finance Bank ₹29.55 lakh for customer service compliance failures identified during supervisory examination under the Banking Regulation Act.
Taiwan FSC Fines Shin Kong Commercial Bank NT$8 Million for Internal Control Failures After Fund Misappropriation
Taiwan's Financial Supervisory Commission fined Shin Kong Commercial Bank NT$8 million after a former wealth management supervisor misappropriated customer funds, citing failures in internal controls and monitoring.