Asia-Pacific
Cyber crime is central banks’ top financial instability risk
Upper-middle income countries more likely to be wary of foreign exchange crisis
Supra-national stress tests less common in middle income countries
Most central banks conduct stress tests of banks more than once a year
Majority of central banks carry out cyber defence exercises
Respondents suggest ways to improve exercises’ effectiveness in building up resilience
Cyber attacks increased in most countries over past two years
Central banks want cyber experts, awareness campaigns and collaborations to mitigate risks
Central banks say co-operation on AML/CFT effective
But some still want improved data sharing, surveillance and relationships
Rising AML/CFT risks reported in 40% of jurisdictions
But majority of central banks empowered and well equipped to mitigate risks
Authorities resolved median of one bank over past decade
Central banks suggest measures for resolving failed banks
Philippines to issue up to four more digital bank licences
New entrants must bring new services to the table, central bank says
Three in five central banks seek improved banking regulations
Basel III reforms, liquidity controls, capital adequacy, others dominate list of concerns
HKMA receives ‘broad support’ for plans to simplify banking system
Hong Kong’s de facto central bank says industry welcomes proposed switch from three tiers to two
Reserve requirement remains leading macro-pru policy
High income countries favour caps on loan-to-value ratios
Most central banks have macro-pru mandates
Nine institutions seek more macro-pru tools
Too soon to declare victory on inflation – World Bank report
Economists say central banks should proceed with caution to avoid upside risks
Financial stability budget increases in most central banks
But resources less likely to be sufficient in Africa and lower-middle income institutions
Central banks buying more gold
Emerging markets led way in sales and purchases for June, according to World Gold Council
MAS review aims to boost Singapore’s stock market
Central bank-led group will look into how SGX might attract more IPOs
Two in five financial stability divisions have staff shortage
FTE employees average under 30 workers across responding institutions
PBoC adviser calls for more expansionary economic policies
Monetary policy committee member advocates stronger measures to alter market expectations
Policy-makers report progress in CBDC exploration
Central banks generally see promise in digital currencies, though one is halting research
Asia’s central bankers bullish over cross-border payments
Policy-makers at Asia Summit also spoke of gradual pick-up in use of local currencies
Innovate to tackle challenges, says BoT deputy governor
Mallikamas outlines ways to deal with economic and geopolitical uncertainties
Uzbekistan reduces policy rate by 50bp
Central bank delivers first cut since May 2023
Global current account balance to narrow, IMF says
Weakening commodity prices have stripped energy-exporting countries of their surpluses
Asian Development Bank raises growth outlook for Asia
Inflation forecast falls from earlier projection