Singapore

Local regulatory standards are also evolving.

A property bubble has also been deflated.

Singapore is on the brink of concluding an agreement with the US to clamp down on tax evasion by US citizens or residents (US persons), a move that will enhance Singapore’s credentials as a global financial hub.

As a consequence of the financial turmoil in 2008, Basel III adds new requirements for the composition and quality of capital to financial institutions. In Asia Pacific, the first countries already began transposing Basel III into local regulatory rules in 2013 whereas globally, most countries started implementation in 2014.

Over a decade ago, factors such as globalisation, deepening of financial product usage, and demographic change led the banking and financial sector on a dynamic trajectory. Essentially, the financial services industry (FSI) built its growth and returns model around these drivers.

Europe now represents 10% of total RMB payments.

Like any superstar, the front office in financial institutions often hogs the limelight when the firm excels. Nevertheless, everyone knows a good show cannot run without outstanding backstage support.

Even if exports pick up.

It's a little different from last summer.

The rate reflects slowing of China's growth.

This composes 2.2% of rated corporate debt.

And are likely to lean towards less risky loans.

The new framework will improve disclosure standards.

The LCR will be introduced in January 2015.

China's exposure is manageable, meanwhile.

OCBC's net income jumped the most.