Reg roundup: PBOC sets up FX, payments bureau; Shanghai's ‘Nasdaq-style’ tech board outlined
Shanghai drafts rules for its ‘Nasdaq-style’ tech board, Philippines sets new rules on cryptocurrencies, Malaysia fines Deloitte over 1MDB, ISDA warns on regulatory fragmentation
PBOC establishes new macro-prudential bureau; covers payments, FX
China’s central bank has created a department to monitor financial risk as part of plans to overhaul its operations. The People’s Bank of China said the new bureau had the power to draft new rules, handle financial systemic risk, and advise on currency issues, assess international payments.
The fixing rate of the renminbi would also be part of the macro-prudential management bureau’s obligations.
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