The Singapore Monetary Authority (MAS) said it is thinking of allowing foreign banks with a significant local presence to open digital-only banking units. 

EU banks could increase their carry trades in response to new rules insulating them from reporting fair value in response to movements in their sovereign bond holdings, according to a report from Fitch Ratings, with the risk that it could reinforce the sovereign-bank nexus that contributed to the last European sovereign debt crisis.

Ryozo Himino took over from Toshihide Endo as commissioner of Japan’s Financial Services Agency (FSA) and will focus on keeping the country’s financial regulatory frameworks in line with global rules.

A consultation on revised joint guidelines concerning the assessment of the suitability of members of the senior management of banks was launched on July 31 by the European Banking Authority (EBA) and the European Supervisory Market Authority (ESMA).

Banks have been urged to pause shareholder payouts for longer by the European Central Bank (ECB), which added that it would also not compel them to meet their Pillar 2 requirements, concerning capital assessments, until the end of 2022 at the earliest. 

On July 31, the Hong Kong Monetary Authority (HKMA) announced its London interbank offered rate (Libor) transition milestones to alternative reference rates (ARRs) for financial institutions operating in the territory. 

Banks and insurers can resume dividend payments to shareholders provided payouts are limited to 50% of profits, the Australian Prudential Regulation Authority (APRA) said on July 29.