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SBI to buy US virtual currency biz stake; HSBC Australia appoints execs

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SBI to buy US virtual currency biz stake; HSBC Australia appoints execs

GREATER CHINA

* The People's Bank of China said in a report that the role of the yuan as a global currency will gradually emerge, Tencent Finance reported. In 2016 the yuan was the world's sixth-largest payment currency with a market occupancy of 1.68%, and it was China's second-largest cross-border payment currency, accounting for 25.2% of the country's cross-border payments that year, the central bank's report noted.

* Taiwan's Financial Supervisory Commission said the branches of domestic banks in countries that the island's new "southbound" policy covers had earned a combined profit of NT$3.5 billion in the first half, up from NT$2.9 billion recorded in the previous half, Central News Agency reported. Loans extended to those countries stood at NT$10.04 billion in the nine months ended September, accounting for 92.75% of the yearly target for the year.

* Taiwan's central bank said the balance of yuan deposits in Taiwanese banks stood at 312.82 billion yuan in September, marking five straight months of continuous growth and the highest in the last 16 months, CNA reported.

* Wellington Koo, chairman of the island's Financial Supervisory Commission, said it would complete its monitoring of banks' SWIFT systems by the end of January 2018, CNA reported. So far, the FSC has completed its checkup of 24 Taiwanese banks and found that less than 10% are not qualified to process securities trade transactions.

JAPAN AND KOREA

* Japan's Financial Services Agency is planning to release guidelines to encourage businesses to invest nearly ¥400 trillion of retained earnings to increase wages and dividends, The Nikkei reported.

* SBI Holdings Inc. is expected to acquire 40% of a U.S.-based virtual currency derivatives company for an undisclosed amount, The Nikkan Kogyo Shimbun reported. The proposed deal is currently being reviewed by the U.S. Commodity Futures Trading Commission.

* South Korea's Daegu Bank Ltd. is acquiring Cambodia-based Cam Capital Specialized Bank for 71.58 billion won in its first overseas M&A deal.

* Kim Yong-beom, vice chairman of South Korea's Financial Services Commission, said the country's banks should channel more funds to small and medium-sized enterprises and startups instead of households and real estate to support productive sectors, Yonhap News Agency reported.

ASEAN

* Thanachart Bank PCL and its subsidiaries posted a combined net profit of 3.533 billion Thai baht in the third quarter, up 6.06% from the previous quarter and 10.34% year over year, Manager Daily reported. The figure represents an increase in profit for the 11th straight quarter.

* Thailand's Government Housing Bank sees its outstanding loans as exceeding 1 trillion baht by the end of the year, Post Today reported, citing Chatchai Sirilai, president of the bank. New lending is expected to reach the bank's full-year target of 178 billion baht, up 8% from the previous year.

* Indonesian private lender PT Bank CIMB Niaga Tbk has issued 2 trillion rupiah worth of debt as part of a bond series with a total target of 8 trillion rupiah, Bisnis Indonesia reported. Proceeds from the issuance will be used for credit expansion.

* Indonesian state lender PT Bank Rakyat Indonesia (Persero) Tbk dismissed Adhyaksa Dault as independent commissioner and Sunarso as deputy CEO, Bisnis Indonesia reported.

SOUTH ASIA

* The Insurance Regulatory and Development Authority of India instructed insurers to take immediate steps to conduct an audit of their systems, including conducting vulnerability and penetration tests to identify weak points and rectify them quickly, The Hindu Business Line reported. The audits should be carried out by auditors selected by India's Ministry of Electronics and Information Technology.

* PNB Housing Finance Ltd. plans to raise up to 60 billion Indian rupees by issuing secured and unsecured nonconvertible debentures in multiple tranches. The lender is also planning to issue masala bonds of up to US$1 billion in multiple tranches.

* Edelweiss Financial Services Ltd. said it plans to issue 40 billion Indian rupees of short-term debt.

* United Commercial Bank Ltd. launched a digital banking platform called Upay, which incorporates blockchain technology and QR codes, The Daily Star reported, citing Managing Director Abdul Muhaimen.

AUSTRALIA AND NEW ZEALAND

* Representatives from National Australia Bank Ltd. and Commonwealth Bank of Australia will face a committee formed by Australia's House of Representatives as part of an ongoing review of the banking sector, Australian Broker reported.

* HSBC Bank Australia Ltd. appointed Guy Dickinson as its treasurer and head of global markets. The lender also appointed Joseph Arena as head of global trade and receivables finance.

* Australian Consumer and Competition Commission Chairman Rod Sims said the competition watchdog would increase its scrutiny of the country's four largest banks by July 2018, in response to demands from the government, The Australian Financial Review reported.

* Australia & New Zealand Banking Group Ltd. agreed to divest its 20% stake in Philippines-based credit card joint venture Metrobank Card Corp. to partner Metropolitan Bank & Trust Co., or Metrobank, for US$144 million.

IN OTHER PARTS OF THE WORLD

Middle East & Africa: Commercial Bank posts profit drop; South Africa 'cautious' about monetary policy

Europe: No MiFID II delay; Catalonia not backing down; Handelsbanken Q3 profit slips

Latin America: Case vs. Banco Original closed; BNDES loan disbursements fall 20%

North America: SEC may grant reprieve over MiFID; US Bancorp posts higher EPS YOY

North America Insurance: Anthem forms pharmacy benefits manager biz; Assurant to acquire Warranty Group

R Sio, Sally Wang, Jonathan Cheah, Jaekwon Lim and Santibhap Ussavasodhi contributed to this report.

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