China's $7 trillion card payment market is open to foreign and local applicants and there will be no limit set by regulators on the number of cards that issuers can grant, Fan Yifei, deputy governor of China's central bank, said in Beijing today.
He added that international cards networks such as Visa and MasterCard will not have to establish joint ventures in order to enter China's card payment market.
Meanwhile, the governor of the People's Bank of China, Zhou Xiaochuan, has said that China will strengthen supervision of its financial system and deliver economic and financial reforms over the next five years that will help the yuan to become an international currency by 2020.
The first deputy chairman of Russia's central bank has said that only six out of 160 Russian banks might experience difficulties meeting the capital adequacy ratio set by Basel Agreement standards. Russian banks will start using Basel Agreement standards from 1 January 2016, which provide for a total capital sufficiency of eight percent instead of ten percent effective at present, Alexey Simanovskiy said.
The Central Bank of Nigeria has warned of a potential financial crisis in the country's banking sector while expressing specific concern over a likely increase in non-performing loans (NPLs) due to banks' exposure to the oil and gas sector. NPLs increased by about 70 percent by the end of June 2015, when compared with figures for the end of December 2014.
The Netherlands expects ABN Amro to begin trading as a listed company on 20 November, following an IPO that values the state-rescued bank at between €15 billion ($16.11 billion) and €18.8 billion.
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