Search

National Growth Fund KRW50 Trillion High-tech Industry Investment Plan

The Financial Services Commission announced that the National Growth Fund (NGF) strategic committee held its second meeting on April 14, 2026, revealing a second batch of investment megaprojects. The NGF plans to inject KRW50 trillion-plus over five years through direct and indirect investment support for high-tech industries including next generation biotech, OLED displays, future mobility, defense, sovereign AI, and energy infrastructure. The investment structure includes KRW35 trillion in indirect investment via private-public joint feeder funds and KRW15 trillion in direct strategic investment for large-scale facilities and production lines.

Scam Alert: Fraudulent Websites and Phishing Targeting Shanghai Commercial Bank and Chong Hing Bank

The Hong Kong Monetary Authority issued scam alerts for two banks—Shanghai Commercial Bank Limited and Chong Hing Bank Limited—following reports of fraudulent websites and internet banking login screens. The HKMA reminded the public that banks do not send SMS or emails with embedded hyperlinks requesting sensitive information such as login passwords or One-Time Passwords. Individuals who may have provided personal information through these scams should contact the relevant bank and report to the Hong Kong Police Force Crime Wing Information Centre.

Analytical Accounts of the Exchange Fund, End March 2026

The Hong Kong Monetary Authority released the analytical accounts of the Exchange Fund at end March 2026. Foreign assets decreased by HK$59.5 billion to HK$3,570.6 billion during the month. The Monetary Base stood at HK$2,065.0 billion and foreign liabilities at HK$78.8 billion. The data is published in accordance with the IMF Special Data Dissemination Standard.

Exchange Fund Bills Tender Results

The Hong Kong Monetary Authority published results of two Exchange Fund Bills tenders conducted on 14 April 2026. For Issue Q2615 (maturing 15 July 2026), HK$69,637 million was allotted against applications of HK$159,654 million, with average yield accepted at 2.19% and highest at 2.24%. For Issue H2644 (maturing 14 October 2026), HK$19,000 million was allotted from HK$41,090 million applied, at average yield of 2.29% and highest of 2.39%.

MetroWest and St. Mary's Credit Union Merger Notice

NCUA received a merger notice from MetroWest Credit Union and St. Mary's Credit Union seeking regulatory approval to consolidate. The filing is posted to the public docket for transparency purposes. NCUA reviews credit union merger applications to ensure the proposed consolidation meets statutory requirements and does not adversely affect members.

Kevin Warsh Fed Chair Hearing Scheduled April 21st

The ABA Banking Journal reports that Kevin Warsh's nomination hearing for Federal Reserve Chair is scheduled for April 21st. The Senate Banking Committee will consider Warsh's nomination to lead the central bank. This hearing represents a significant step in the confirmation process for Fed leadership.

Community Banker Trey Maust Named FDIC Chief Innovation Officer

Trey Maust, a community banker, has been named FDIC Chief Innovation Officer. The appointment brings industry experience to the position overseeing technology and innovation initiatives at the federal banking regulator. No new regulatory obligations or compliance requirements are created by this staffing announcement.

Small Business Optimism Index Drops to 95.8 in March

The National Federation of Independent Business (NFIB) released its Small Business Optimism Index for March, declining to 95.8. The index reflects uncertainty among small businesses, with components showing mixed readings on capital spending, inventory, and sales expectations.

Texas, Kansas Bank Acquisitions Totaling $521M Announced

ABA Banking Journal reports announced bank acquisitions in Texas and Kansas totaling $521 million. The transactions involve commercial banking institutions in these states. No regulatory approvals, compliance obligations, or penalties are mentioned in the source.

AUSTRAC Warns 98% of Wealth Management Businesses Filed No Suspicious Matter Reports in 2025

AUSTRAC has written to wealth management businesses following a supervisory campaign revealing that 98% of sector businesses filed no suspicious matter reports (SMRs) in 2025, despite operating in a sector exposed to significant money laundering risks. Only three businesses were responsible for nearly two-thirds of all SMRs across the entire industry. AUSTRAC CEO Brendan Thomas stated that these numbers indicate many businesses do not have adequate systems or processes to meet reporting obligations or properly identify high-risk customers.