India
RBI Issues Updated Master Direction on Local Bank Capital Adequacy
On April 8, 2024, RBI issued updated master direction on Prudential norms on capital adequacy for local area banks, taking effect immediately. The recent changes encompass updates related to tier I capital components, unhedged foreign currency exposures, and provisions for incorporating the measurement of capital charges for equities in the trading book.
Australia
Updated ARS 701.0 for Economic and Financial Statistics Collection
On April 9, 2024, the Australia Government and Treasury published updated Reporting Standard ARS 701.0 – ABS/RBA Definitions for the Economic and Financial Statistics (EFS) Collection (ARS 701.0). The recent changes include aligning EFS business size definitions with the new capital framework and clarifying reporting requirements for holdings of covered bonds which were released by APRA on January 29, 2024. The new ARS 701.0 applies to reporting periods ending on or after June 30, 2024.
Thailand
FATCA Reporting: The Revenue Department (TRD) has opened a system for submitting requests for certificates of status as a person responsible for reporting FATCA
The US Internal Revenue Service (IRS) will open the IDES system for Thai financial institutions to try receiving and sending simulated data to the IRS from 3 – 28 June 2024.