Tag Archives: banking

Singapore is the world’s fastest growing wealth centre and is predicted to overtake Switzerland to become the largest offshore private banking market by 2020, according to recent research. Global financial analysis group Timetric said assets under management within the city-state had risen to US$550bn by the end of 2011 from just US$50bn in 2000 and that it is set to …

Financial regulators across Asia are tightening oversight of how key interest rates are set and cracking down on signs of corruption, as a widening investigation into the banking industry world-wide unearths more evidence of systematic rate rigging. In Hong Kong, the Hong Kong Monetary Authority has stripped a banking-industry group of control and is phasing out some versions of the …

Asian and European banks registered as US swap dealers this week, joining Wall Street rivals in complying with new rules that aim to shed light on the opaque US$650 trillion derivatives market. Deutsche Bank, Commerzbank, Societe Generale, BNP Paribas and Nomura were among the swap dealers listed in the registry of the National Futures Association (NFA), a US regulator. But …

MANILA, Philippines –  Asian banks are in a mad scramble to raise US dollars to meet the stiff capital requirements under the Basel III framework. Banks are sweeping as much dollars as can be found in the global market as European borrowers are holding on to their dollars “during these hard times.” According to FinanceAsia, Asian borrowers want a steady …

China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending as Europe’s debt crisis and a cooling property market threaten economic growth. Reserve ratios will fall 50 basis points, effective Feb. 24, the People’s Bank of China said on its website yesterday evening. The level for the nation’s largest lenders will decline to 20.5 percent, …