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Periodic Essay
Implementation of anti-money laundering standards in Asia
Global money laundering and terrorist financing activities impose significant costs on the world economy by damaging the effective operations of national economies. In response to the challenges posed by these activities, Asian governments and regulators have strengthened their anti-money laundering (AML) and combating the financing of terrorism (CFT) regimes by adopting standards set by the Financial Action Task Force (FATF), an intergovernmental agency that develops and promotes policies to combat AML/CFT.
Periodic Essay
Chinas new foreign bank regulations
Periodic Essay
The development of payment and settlement systems in China
This Asia Focus summarizes recent changes in Chinas payment and settlement systems and considers how China is addressing technology and risk management concerns as it works to create a more sophisticated, international financial sector.
Periodic Essay
The rise of Asian sovereign wealth funds
This Asia Focus provides an overview of sovereign wealth funds, evaluates the structure and activities of major funds in Asia, and compares the transparency of Asian funds relative to international best practices.
Periodic Essay
Priority sector lending in Asia
This Asia Focus discusses Asia?s experience with priority sector lending, reviews the current state-level priority sector lending policies in several Asian economies, assesses the implications for the respective domestic banking systems, and examines potential alternative mechanisms to encourage lending to priority sectors.
Periodic Essay
China's banking sector
Periodic Essay
Banking reform in Vietnam
Vietnams banking sector is expected to have one of the highest growth rates in Asia during the next few years due to the countrys continued economic expansion, rising household incomes, and relatively low penetration of existing banking services. Over the past two decades, the Vietnamese government has undertaken a series of reforms to strengthen and modernize the sector as part of the countrys move towards a more open and marketoriented economy. Many of these reforms have also been motivated by Vietnams growing participation in international agreements and ongoing efforts to adopt ...
Periodic Essay
Asian asset management companies in retrospect
In the decade since the Asian financial crisis, the vast majority of problem loans and other distressed assets have reached a point of resolution. Publicly sponsored asset management companies (AMCs) were an important agent in the resolution of non-performing loans (NPLs), particularly in the crisis-affected countries of Malaysia, Thailand, Indonesia and South Korea. Each country chose a different path, based on the philosophical positions of government sponsors regarding the relative power they chose to grant their respective AMCs, the merits of temporary versus permanent operating charters, ...
Periodic Essay
Financial system reform in Thailand
In 2004 Thailand began to implement the Financial Sector Master Plan (FSMP), a long-term reform program aimed at creating a more efficient, transparent, and internationally competitive financial sector that can serve a larger proportion of the Thai population. With the first phase of the FSMP completed in 2009, Thailand announced that a second phase of financial sector reforms will begin in 2010. This Asia Focus report provides an overview of the FSMPs development, highlights key reform measures completed under Phase I, and describes measures proposed under Phase II and some of the challenges ...
Periodic Essay
Taiwan’s banking sector reforms: retrospective and outlook
The Taiwanese banking system has evolved significantly since the government amended the Banking Law in 1989 to promote internationalization and liberalization of the banking sector. Private banks now play a significant role in the financial system and many state-owned banks have been partially privatized. Despite much progress, Taiwan?s banking sector is marked by low profitability and excessive competition that are potential threats to the long-term health and stability of the financial system. This Asia Focus outlines the history of financial and banking reforms in Taiwan, analyzes problems ...