Global regulators have warned that private credit risks are increasing as links deepen between private credit firms, banks, insurers, asset managers and private equity groups. The Financial Stability Board said the market was valued at between USD1.5tr and USD2tr in 2024. The watchdog highlighted rising defaults, limited transparency, liquidity mismatches and the retailisation of private credit as key concerns. While direct bank exposure remains limited at below 0.5% of total

Singapore has retained the Financial Action Task Force’s highest monitoring rating despite the SGD3bn (USD2.2bn) money laundering scandal uncovered in 2023. The Singapore FATF rating review covered the period from 2020 to July 2025 and placed the city-state on regular follow-up, the watchdog’s most favourable category. FATF said Singapore achieved seven substantially effective ratings across 11 measures and was compliant or largely compliant on 38 of 40 technical recommendati

Hong Kong SME credit conditions remained broadly stable during the first quarter of 2026, according to the Hong Kong Monetary Authority. Around 73% of SMEs said banks’ credit approval stance was similar or easier than six months earlier, compared with 70% in the previous quarter. Only 27% perceived approvals as more difficult, down from 30%. Among SMEs with existing credit lines, none reported a tighter bank stance. Of firms applying for new credit, 91% reported fully or part

Cross-border insolvency cooperation is strengthening as Singapore and Indonesia’s supreme courts sign a memorandum of understanding to coordinate restructuring and insolvency cases. The agreement establishes formal communication channels between courts, helping reduce inconsistent rulings, fragmented proceedings and higher costs. Signed in Bali, the framework builds on the UNCITRAL Model Law and outlines processes including liaison officers and language protocols. It will app

Hong Kong SME credit conditions remained broadly stable in the first quarter, with 27% of firms reporting difficulties securing credit-line approvals, down from 30% in the previous quarter, according to the Hong Kong Monetary Authority. The survey of about 2,500 SMEs showed 73% viewed banks’ credit stance as similar or easier, compared with 70% previously. Among companies with existing credit lines, none reported tighter conditions, improving from 1% in the prior quarter. Aro

AI financial crime detection is advancing as the Monetary Authority of Singapore works with local banks, GovTech and the police to strengthen scam detection capabilities. MAS said it is running a proof-of-value exercise using data from five banks to develop machine learning models that can identify higher-risk transactions and suspicious accounts earlier, enabling faster intervention and potentially reducing customer losses. The project operates within a secure data-sharing e

Singapore banking fraud risks have come into focus after a former DBS wealth planning manager admitted cheating seven victims of nearly SGD1.4m (USD1.1m), with funds largely used for online gambling, his wedding and home renovations. Benjamin Chung Hiang Wee, 32, pleaded guilty in April to six cheating charges involving more than SGD1m from five victims. Prosecutors said he persuaded clients to transfer money into supposed fixed deposit and loan schemes that did not exist. On

Thailand virtual banks are being given greater flexibility as the central bank allows successful applicants more time to meet pre-licensing requirements. Governor Vitai Ratanakorn said the three approved groups may delay operations by two to three months beyond the initial June target as they work to comply with regulatory conditions. The applicants include consortiums led by Charoen Pokphand, Krungthai Bank and SCB X. Regulators require firms to consolidate financial busines

Hong Kong SME financing support is expanding as the banking sector raises dedicated lending funds to more than HKD450bn (USD57.7bn) from HKD370bn in October 2024, amid oil price volatility and a weaker external environment. The Hong Kong Monetary Authority said 18 banks in its SME taskforce will provide credit relief measures including flexible repayment terms, loan tenor extensions and trade facility extensions, with particular focus on transport, logistics and manufacturing

South Korea financial stability remains intact as the country’s financial institutions have sufficient capacity to withstand crisis scenarios despite volatility in financial and foreign exchange markets, Finance Minister Koo Yun-cheol said. Koo made the remarks after a macroeconomic policy meeting with Bank of Korea Governor Shin Hyun-song and the heads of financial regulators. He said volatility in government bond yields and the won-dollar exchange rate has persisted as the

AI access restrictions are emerging inside global financial institutions as Goldman Sachs bars its Hong Kong bankers from using Anthropic’s Claude models, according to the Financial Times. The restriction prevents staff in the city from accessing Claude directly or through Goldman’s internal AI platforms, although it does not apply to other providers including OpenAI. The move followed a strict reading of the bank’s contractual arrangements with Anthropic, whose models are no

China financial regulator Li Yunze has been demoted over a suspected disciplinary violation, Reuters reported, citing people familiar with the matter, in the latest sign of Beijing’s widening crackdown on the financial sector. Li, 55, headed the National Financial Regulatory Administration, which oversees banks, insurers and trust firms across China’s USD79tr financial industry. Reuters said his name and photo were removed from the regulator’s leadership page. Li was appointe

Taiwan equity funds are set to gain greater flexibility as regulators raise the single-stock holding limit to 25% from 10% for domestic funds. The Financial Supervisory Commission said the change applies to equity funds and active ETFs, although holdings cannot exceed a company’s weighting in the benchmark index. The adjustment reflects the growing dominance of technology stocks in Taiwan’s market and rising concentration among large-cap firms. Regulators said the reform will

Vietnam forex rules are set for overhaul as the central bank proposes easing procedures for foreign investors while strengthening oversight of capital flows. The draft circular would allow eligible investors to open investment capital accounts before receiving registration approval, although usage would initially be limited. Investors may also open multiple foreign-currency accounts for different currencies. The revised Vietnam forex rules aim to align with recent legal chang

China offshore financing conditions are tightening as regulators lengthen approval timelines for bonds and loan quotas with maturities of one year or more. Reviews now take four to six months, with some extending up to nine months, as authorities increase scrutiny on repayment plans and use of proceeds. The shift comes as companies face around USD100bn in offshore bond maturities this year. To avoid delays, some firms are turning to shorter-term issuance below 12 months, whic

China bond futures access is expanding as regulators allow qualified foreign investors to trade government bond futures, widening participation in the country’s capital markets. The China Securities Regulatory Commission said approved QFII investors may trade the contracts strictly for hedging purposes, providing additional tools to manage interest-rate risk. The move comes as global investors seek refuge in yuan-denominated assets amid geopolitical tensions, with the currenc

Japan shareholder rules are set to tighten as policymakers respond to growing pressure from activist investors. Lawmakers from the ruling party plan to propose higher thresholds and limits on shareholder proposals involving business execution, with recommendations expected to be submitted next month. Currently, investors can submit proposals after holding either 1% of voting rights or 300 voting units for six months, a requirement critics say has become easier to meet due to

Singapore brokerage expansion is advancing as Robinhood receives in-principle approval from the Monetary Authority of Singapore to offer a range of investment services. The approval allows the US fintech firm to potentially provide trading in securities, exchange-traded derivatives, custody, product financing and collective investment schemes once conditions are met. Robinhood said Singapore brokerage expansion will position the city as its Asia-Pacific headquarters, supporte

Northern Metropolis financing is advancing as the Hong Kong Monetary Authority and the Hong Kong Association of Banks establish a joint taskforce to support one of the city’s largest development projects. The Northern Metropolis Financial Advisory Taskforce includes representatives from the HKMA, HKAB and 15 banks with expertise in large-scale infrastructure finance, while the Chinese Banking Association of Hong Kong will participate as an observer. Following a site visit to

Active ETFs China expansion is gaining momentum as JPMorgan seeks regulatory approval to launch fully active exchange-traded funds in mainland China. The move would mark the firm’s first entry into the segment, which remains restricted to enhanced index strategies with limited benchmark deviation. JPMorgan Asset Management currently manages about USD257bn in active ETF assets globally and sees strong growth potential in the region. The active ETFs China initiative aligns with