Cryptocurrency exchange Kraken to close in Japan; China opens fintech hub

Located in Tianhe District's Guangwu Center, the industrial park will initially cover 4,500 square meters before eventually expanding to 10,000 square meters. ➤ Chinese banks enter 2023 in worse shape than global peers; more risks ahead More real estate developers and small businesses will unli...

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Bibliographic Details
Published inSNL Financial Extra
Main Author Madni, Shahrukh
Format Trade Publication Article
LanguageEnglish
Published New York SNL Financial LC 28.12.2022
Subjects
Bank technology
Banking
Corporate bonds
Development banks
Digital currencies
Financial services
Private placement
Vietnam
China
Japan
India
Indonesia
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Summary:Located in Tianhe District's Guangwu Center, the industrial park will initially cover 4,500 square meters before eventually expanding to 10,000 square meters. ➤ Chinese banks enter 2023 in worse shape than global peers; more risks ahead More real estate developers and small businesses will unlikely be able to service their loans despite Beijing's more relaxed stance on the pandemic, and bank profitability will remain under pressure, analysts said. ➤ Bank regulatory agendas in 2023 include capital requirements, resolvability The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency will also be paying attention in 2023 to stablecoins, climate-related financial risks and new rules related to the Community Reinvestment Act. The subscription is open to new and existing members, subject to a maximum balance of up to 5 million ringgit for individuals and up to 20% of the current balance of the lender's share capital for the cooperative movement. * India-based UCO Bank will consider raising 10 billion rupees via the issuance of additional Tier 1 bonds in one or more tranches, according to a bourse filing. * State Bank of India said in a bourse filing the executive committee of its central board will meet Jan. 3, 2023, to seek approval to raise of up to 100 billion rupees of infrastructure bonds through a public issue or private placement. * Bank of India Ltd. said in a regulatory filing it infused 11.4 million rupees of capital in PSB Alliance Pvt. Ltd., raising its stake in the firm to 8.33% from 7.14%. The proceeds will be used to scale the firm's core credit business, expand the team and broaden its product portfolio with services such as digital bank accounts, insurance and wealth management solutions. * Edelweiss Financial Services Ltd. said in a bourse filing its debenture fund raising committee approved the public issue of up to 4 billion rupees of secured, redeemable, nonconvertible debentures. * Spandana Sphoorty Financial Ltd. said the management committee of its board approved the transfer of its stressed loan portfolio to an asset reconstruction company for 950 million rupees.