*China outlines reserves rule for foreign bank FX trading
*GMFA objects to proposed Basel III revisions on cash pooling
*Singapore confirms steps against financial cybercrime
At CT’s Shenzhen-based treasury conference, the central banks of Hong Kong and Singapore outline their treasury centre strategies for China’s aspirational corporates.
*Safe lifts time restrictions on converting renminbi
*Malaysia and Australia combine for fintech
*Malaysia introduces new method for USD/MYR spot fixing
*FASB announces accounting rule update
In what could be seen as a move against Hong Kong’s recent push to attract Chinese and MNCs to its shore, Singapore delivered a surprise cut to its concessionary tax rate for treasury centres located in the Lion City.