01/05/2021

Non-banks to dominate digital banking application

Last Thursday, BNM said the licensing framework for digital banks enables the innovative app to uplift the financial wellbeing of individuals and businesses, and foster sustainable growth.

01/04/2021

BNM Opens Six Month Application Period for Digital Bank Licences

The policy document was issued for public consultation in March, introducing a simplified regulatory framework applicable during a digital bank’s foundational phase, during which it will be able to demonstrate viability and sound operations.

01/04/2021

HKMA Intends to Bring ‘Stay Rules’ into Operation in 2021

The Stay Rules are designed to address the cross-border risks to orderly resolution arising from the early termination of financial contracts governed by non-Hong Kong law, in line with the contractual approach to giving effect to cross-border resolution