* China Construction Bank Corp. appointed former Bank of China Ltd. Chairman Tian Guoli as its new chairman, effective Oct. 9. Tian was also named an executive director for a three-year tenure, following his nomination to the board in August.
* The People's Bank of China asked a number of commercial banks about their demand for medium-term lending facility loans, Reuters reported, citing "market sources with direct knowledge of the matter." The sources said the central bank is expected to infuse funds through the loans on Oct. 13.
* China's Industrial Bank Co. Ltd. has set up an inclusive finance department, in line with efforts by the country's banks to benefit from regulatory incentives to boost financing to small businesses and low-income individuals, the South China Morning Post reported.
* Taiwan's Far Eastern International Bank Ltd. may be fined between NT$2 million and NT$10 million if the cyberattack it faced was found to be a result of lax internal controls, the Taipei Times reported, citing the island's Financial Supervisory Commission. The bank is expected to submit a full report on the hacking incident to the regulator before Oct. 15.
JAPAN AND KOREA
* The South Korean government is expected to roll out measures in the week of Oct. 16 to cool down rising household debt, The Korea Times reported.
* South Korean regulators said the country's financial market maintained its stability during the 10-day Chuseok holiday despite concerns over North Korean provocations, Yonhap News Agency reported.
* Digital signatures will be accepted for all insurance contracts from October 2018 in South Korea, Money Today reported. A Commercial Act amendment implementing the change has passed through the National Assembly.
* Mirae Asset Global Investments Co. Ltd. said that the net asset value of its 234 global ETFs reached 18.2 trillion South Korean won at the end of August, The Chosun Ilbo reported.
* The Indonesian government will investigate whether 81 private citizens linked to the US$1.4 billion transfer of client assets held by Standard Chartered Plc complied with tax amnesty requirements, Bloomberg News reported, citing Ken Dwijugiasteadi, the country's director-general for taxation. This follows a report from the news agency that the bank is under regulatory scrutiny over the transfer of assets, mainly on behalf of Indonesian clients, from Guernsey to Singapore before new tax transparency rules were introduced.
* The Monetary Authority of Singapore said it would "take firm action" against any financial company or individual found to have violated the regulator's anti-money laundering and terrorism financing requirements, in response to the report of client asset transfers involving Standard Chartered, the Financial Times reported. The regulator added that it could not provide more information while the probe is still ongoing.
* Iwan Soeroto was appointed as a director of PT Bank Mandiri Taspen Pos, subject to approval by Indonesia's Financial Services Authority, Bisnis Indonesia reported.
* Standard Chartered Bank Malaysia Bhd. named Abrar Anwar as its new managing director and CEO, effective Nov. 1, the New Straits Times reported, citing a company release. He will replace current CEO Mahendra Gursahani, who will leave the bank to take on another opportunity.
* Philippine President Rodrigo Duterte approved the Land Bank of the Philippines' acquisition of Philippine Postal Savings Bank Inc., which is expected to serve overseas Filipino workers, the Philippine Daily Inquirer reported. The amalgamated entity will be named "Overseas Filipino Bank," according to an executive order signed by the president.
* Reliance Capital Ltd. unit Reliance General Insurance Co. Ltd. filed draft papers with the Securities and Exchange Board of India for its planned IPO, Mint reported. The insurer plans to issue 16.77 million new shares, while the parent is offering 50.3 million shares through the IPO.
* Jio Payments Bank, a 70-30 joint venture between Reliance Industries Ltd. and State Bank of India, is set to start operations in December, Mint reported, citing "three people aware of the plans." Originally set for October, the launch was pushed back as the Reserve Bank of India asked the lender to demonstrate its capabilities to ensure a glitch-free rollout.
* The Indian government plans to establish up to 650 branches of India Post Payments Bank Ltd. across the country to facilitate financial inclusion, Press Trust of India reported, citing Manoj Sinha, the country's communications minister.
* Bangladesh Bank fined seven banks a total of 1.5 million taka for their alleged violation of stock market rules by misreporting on share investment and overexposure, The Daily Star reported, citing a confirmation from a senior central bank executive. The central bank imposed the penalties based on the lenders' stock exposure in August.
AUSTRALIA AND NEW ZEALAND
* Some of the biggest U.S. investors of Commonwealth Bank of Australia are expected to join a class action suit against the lender following a drop in the share price following allegations that it breached anti-money laundering and terrorism financing laws, The Australian reported.
* Commonwealth Bank of Australia said it would use comprehensive credit reporting data to improve its residential mortgage processes before the end of 2018. The lender said it would initially focus on supplying and collecting positive credit data for home loan accounts.
* Bendigo & Adelaide Bank Ltd. is seeking to launch its fourth convertible preference share issue amounting to A$400 million as early as the week of Oct. 16, The Australian Financial Review's Street Talk blog reported.
* National Australia Bank Ltd. unit Bank of New Zealand is launching Apple Pay, making it the second lender in New Zealand to do so after Australia & New Zealand Banking Group Ltd.'s local banking subsidiary, The New Zealand Herald reported. Stephen Bowe, the lender's head of digital, said the service would arrive by the end of October.
IN OTHER PARTS OF THE WORLD
Middle East & Africa: S&P revises Ghana outlook; Iran unveils fintech policy; US lifts Sudan sanctions
Europe: EC antitrust raids; HSBC chooses new CEO; Deutsche Börse in euro-clearing push
Latin America: Balboa-BCT deal approved; Prisma's potential buyers named
North America: OneMain may sell itself; CIT inks deal to sell reverse mortgage servicing biz
North America Insurance: Trump order could split insurance market; judge tosses suit against UnitedHealth
R Sio, Sally Wang, Jonathan Cheah, Jaekwon Lim and Santibhap Ussavasodhi contributed to this report.
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