*China outlines debt-for-equity swap plan
*Hong Kong to set up financial enforcement teams
*Basel Committee reports progress in finalising global regulatory framework
*ADB study points to large trade finance gap in Asia
*PBoC unveils green finance vision
*Cambodia and China sign AML pact
*Sri Lanka gives land lease tax break to foreign firms
*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
Malaysia will adopt a daily rate for the ringgit against the US dollar in an attempt to promote domestic financial markets in line with global best practices.
When “know your client” rules for correspondent banking went live, banks responded by exiting countries and products en-masse. New onboarding and database tools should help to reverse this worrying trend.