Banking
Hong Kong Monetary Authority Expands Suspicious Account Alert System Amid Rising Fraud Risks
HKMA announces the extension of the Suspicious Account Alert system, covering internet banking and physical branches, to combat increasing fraud risks.
HKMA Releases Complaints Watch Issue No. 24 Highlighting Banking Trends
The Hong Kong Monetary Authority (HKMA) has published Complaints Watch Issue No. 24, detailing notable trends in banking complaints and emerging issues.
Hong Kong Monetary Authority Warns Against Unauthorized Banking Activities
The HKMA alerts the public about unauthorized banking activities by a firm operating without proper authorization in Hong Kong.
Mashreq Bank Partners with Oracle to Enhance Global Operations
Mashreq Bank extends its partnership with Oracle Financial Services to modernize its core banking systems and support global expansion.
Composite Interest Rate Drops to 2.65% in April 2024, Announces HKMA
The Hong Kong Monetary Authority reveals a decrease in the composite interest rate for April 2024.
Hong Kong Central Bank Urges Crypto-Friendly Banking
The Hong Kong Monetary Authority (HKMA) has instructed authorized institutions to adopt a risk-based approach in Anti-Money Laundering efforts and provide banking services to cryptocurrency firms.
Moody warns of stablecoin adoption risk
Moody's Investors Service has warned that the recent turmoil in the traditional banking sector and USDC losing its peg could negatively impact stablecoin adoption and increase calls for regulation. The credit rating agency believes that fiat-backed stablecoins like USDC could face new resistance, limiting their stability and potentially causing a run on banks holding Circle's assets, which could lead to the depegging of other stablecoins.
The Fed Rejects Custodia Bank's Membership Application
The Fed rejected cryptocurrency-focused Custodia Bank membership again, citing "sound banking operations."
Binance CEO Denies Report That Company Is Cutting Ties With US
Binance CEO Changpeng Zhao denied that the business is contemplating leaving the US on Twitter.
Silvergate Bank Suspends Dividend Payments to Preserve Liquidity
Silvergate's board "shall re-evaluate the payment of quarterly dividends as market circumstances change."