MAS publishes monetary policy statement. The Monetary Authority of Singapore issued a policy statement reviewing current monetary policy and the 2014 economic outlook for Singapore. (4/14/2014)
Joint securities program between SFC and CSRC. The China Securities Regulatory Commission and the Securities and Futures Commission have approved, in principle, the development of a pilot program, Shanghai-Hong Kong Stock Connect, for establishing mutual stock market access between Mainland China and Hong Kong. (4/10/2014) SFC press release.
Turf war. China’s top two banking regulators — the China Banking Regulatory Commission and the People’s Bank of China — are reportedly engaged in a bitter turf war that is affecting their ability to enact reforms and tackle the systemic risks showing up in China’s financial sector. Two reforms affected by the dispute are (1) a long-delayed plan to introduce deposit insurance and (2) the liberalization of interest rates. Several high-profile defaults in recent weeks have drawn attention to the conflict. (4/9/2014) Rivals.