作者： bankr

台湾金管会今天公布「金融科技发展路径图」，甄选有潜力的金融机构与金融科技业者组成国际队到海外拓展市场，优先锁定英国、波兰、美国、法国、星港、菲律宾及新南向国家。

金管会主委黄天牧自今年5月下旬上任后，宣布6大兴利方案，承诺最快会在3个月内提出具体方案。金管会今天发布「金融科技发展路径图」，且用3年时间推动60项措施，希望形塑友善的金融科技生态系，并提升金融服务效率、可及性、使用性及品质。

金管会综规处副处长胡则华表示，预计在2021年8月要成立共创平台，协助创新中心推动金融科技发展相关工作，除了选出金融科技国际队外，还要招募遴选台湾金融科技形象大使及广宣人员，协助推广金融科技成果等事项。

胡则华说，筹组金融国际队主要是因为台湾有许多金融机构、金融科技新创团队，拥有创意与技术，商业模式也具可行性，但因财务资源有限，难向海外拓展，所以希望寻找有潜力的金融机构与金融科技业者，协助拓展到海外市场，提高国际能见度。

胡则华表示，共创平台未来也会请金融服务提供者、周边单位及相关学研机构共同设计金融科技证照分类、考试项目，并规划相应的训练课程、书籍、宣导方式。

值得一提的是，金管会研拟将在2021年8月推动发展「金融行动身分辨识联盟（F-FIDO）」，研议规划导入国际FIDO标准，让民众在A银行插卡开户后，可先用FIDO完成身分验证，后续在B券商、C保险公司开户时，即可免除每次开户都得作身分认证的繁琐程序。

此外，金融科技创新发展同时，监理技术也要同步强化，金管会除了要建立数位监理申报机制外，也将仿效国外经验，透过举办「黑客松」发展监理科技，从中发掘创新技术，去解决法遵、监理问题。

胡则华表示，黑客松比赛预计今年底开始征选，最快在2021年1月中旬进行比赛，并公布得奖结果。

日本的银行开始对新申领纸质存折收费了

日本瑞穗银行自2021年1月起，在发放纸质存折时将收取1千日元（不含消费税，约合人民币65.3元）手续费。以新开设账户的个人和企业为对象。用户可选择不收手续费的电子存折，引导用户转向电子存折。在推动网上银行利用的同时，有助于经费削减。

在日本的大型银行中，瑞穗是第一家对纸质存折收费的银行。对象是2021年1月18日以后开设普通账户和定期账户的用户等，在纸质存折旧折换新时也收取1千日元。对70岁以上的人免费，现有账户不收费。

瑞穗银行的存折

在电子存折方面，用户可通过智能手机和个人电脑确认最长10年的交易明细。

纸质存折每个账户每年会被征收200日元的印花税等，超大型银行每年需承担数十亿日元的经费。在其他大型银行方面，征收存折发行手续费也成为讨论课题，收费化的趋势或将扩大。

三菱UFJ银行和三井住友银行正在通过设置优惠来推动用户转向电子存折。

Cryptocurrencies appear to be emerging as the latest means for Chinese citizens to move their assets overseas and evade the nation’s strict capital controls amid escalating tensions in US-China relations.
The Chinese government allows its citizens to transfer the equivalent of only US$50,000 or less out of the country each year. Historically, wealthy citizens have dodged this rule through foreign investments in real estate and other assets – sometimes even using shell companies to disguise the purchases of foreign currencies as legitimate business transactions.
But as Beijing has cracked down on some of these methods to circumvent capital controls, the use of cryptocurrencies may be picking up some of the slack as investors seek to protect their wealth in a global economy that is suffering from the trade war and the coronavirus pandemic, according to a recent report by New York-based blockchain analytic company, Chainalysis.
More than US$50 billion in cryptocurrency assets have been moved from China-based addresses to other regions over the last 12 months, according to the report. In particular, Tether, known as a “stablecoin” because its value is pegged to the US dollar, could be playing a key role in the recent capital flight from China, Chainalysis said.
In countries where “safe-haven fiat currencies” such as the US dollar are restricted, stablecoins are particularly attractive because they can be sold on exchanges without losing much of their value. This has caused Tether’s market capitalisation to grow massively, accounting for 93 per cent of stablecoin use in East Asia in recent years.
“Stablecoins such as Tether have always been sought after in countries with tight capital and currency controls,” said Wayne Chen, CEO of fintech firm Interlapse. “With the political uncertainty between the US-China trade war and the existing capital and exchange controls in China, this can drive people to adopt stablecoins.”

尚达曼：金管局将致力推动金融业为国人创造好工作

新加坡金融管理局（MAS）将和劳资政伙伴紧密合作，支持本地金融业员工进行再培训及提升技能，并为毕业生及中年员工创造就业和见习机会。

负责金管局事务的国务资政兼社会政策统筹部长尚达曼在金管局施政方针附录中表示，我国经济面临独立以来最严重经济下行，金管局将确保经济与金融稳定，支持商家及国人渡过冠病危机，并致力促使金融业更加强韧，继续支持经济发展，为国人带来好的工作。

金管局也将和业者合作，确保较早前推出，协助国人和商家暂缓偿付贷款和保费等各种暂时性措施，以适当的步伐退场，减少借贷者面对“悬崖效应”的冲击，并保障金融稳定性。

当局也和主要金融机构合作，确保它们的雇员以新加坡人为核心，辅以多元化及高素质的人才，并栽培本地人才担任金融业高层。

中国财政资金直达落地“快快快” 稳经济“央妈、财爸”拼全力

无论是7月底已发行完毕的1万亿元人民币抗疫特别国债，还是5月中国两会中确定的2万亿为保基层运转的中央财政直达资金，在快、快、快的节奏下，“财爸”与“央妈”为稳经济拼尽了全力。这显然也是中国上半年经济超预期的重要原因。

从分配情况看，截至8月中旬，扣除用于支持减税降费的3,000亿元以外，实行直达管理的1.7万亿元资金当中，中央财政已经下达了1.674万亿元。意味着98.5%的资金已经下达，还剩下1.5%，大约260亿元还没有下主要是为后续的疫情防控还得要留点钱。

同样在周二国新办举行的“金融机构支持实体经济政策落实情况”的政策吹风会上，来自央行的官员也详述了支持实体经济所做的努力，不是一上来就把子弹打光，而是根据统筹疫情防控和经济发展的需要，根据阶段性的重点任务一步一步来，不手忙脚乱，把握好节奏。

中国上半年GDP同比增长3.2%,远超市场预期。虽然供给端有政策不断加力，通过政府投资增加专项债等多种方式大力稳投资并出台多项刺激消费的举措，但受经济前景预期欠佳以及外围环境恶化，需求端的疲软显而易见。

相较总量调控的货币政策，财政政策更侧重在调结构方面发挥作用。只是面对今年突发的疫情，在大规模的减费降税后在六稳六保方面，财政政策承担的压力和发挥的空间显然更大。

许宏才详解了2万亿直达资金的使用情况，截至8月中旬，在1.7万亿元当中已经形成实际支出5,097亿元，如果按照支出进度测算，实际支出的数额5,097亿元占中央财政已经下达资金的比重是30.5%，高出序时进度2.7个百分点。

也就是说，从下达时间算起到年底，现在的实际支出进度，比按照时间均匀分布来算，大概高出2.7个百分点。由于初期有很多准备工作，直接按照时间均匀分布计算不一定很合理，即使这样比较，比序时进度也是快的。

至于特别抗疫国债，6月18从日第一笔发行到7月30日发行完毕，共发行了16期抗疫特别国债。综合考虑了各方面因素，特别是市场需求，本次1万亿国债分为三种期限，分别是5年期、7年期、10年期。5年期发行4次共2,000亿元，7年期发行2次共1,000亿元，10年期发行10次共7,000亿元，总体来说发行结构比较合理，发行节奏也是比较平稳。

The Reserve Bank of India (RBI) said headline inflation picked up strongly during the closing months of 2019-20 and the short-term outlook for food inflation has turned uncertain.

Country’s headline inflation is expected to firm up further in the coming months largely due to disruptions in food and manufactured items’ supply chains, the Reserve Bank of
India said in its annual report for 2019-20 released on Tuesday.

The Reserve Bank of India (RBI) said headline inflation picked up strongly during the closing months of 2019-20 and the short-term outlook for food inflation has turned
uncertain.

“Disruptions in food and manufactured items’ supply chains could amplify sectoral price pressures, thus posing an upside risk to headline inflation. Heightened volatility in
financial markets could also have a bearing on inflation,” said the RBI Annual Report 2019-2020.

All of these may influence inflation expectations of households, which are adaptive in nature, and show significant sensitivity to shocks to food and fuel prices, the report
said.

Monetary policy, therefore, has to keep a constant vigil on price movements, especially as they can translate into generalised inflation.

According to government data, retail inflation rose to 6.93 per cent in July, mainly driven by rising prices of food items like vegetables, pulses, meat and fish.

In its monetary policy review earlier this month, RBI had said that the retail inflation is expected to be at elevated levels during the second quarter, but may ease in the
second half of the current fiscal year.

Supply chain disruptions persist, resulting in inflation pressures across segments, RBI Governor Shaktikanta Das said while announcing the decisions taken by the central bank’s
Monetary Policy Committee (MPC) on August 6.

Going by the trend of global commodity price developments and weak demand conditions, consumer price inflation remained benign during 2019 and early 2020 in a number of
economies the overall headline inflation was subjected to higher volatility in 2019-20 relative to the previous four years, underpinned by high flux in food prices, RBI said.

Within the food group, price spikes for different items occurred at different time points. The seasonal behaviour has changed in the case of prices of many food items such as,
onion, ginger, brinjal, cauliflower, okra and green peas.

Interestingly, despite being the most volatile item, seasonality in onion prices has declined significantly over the years, partly reflecting improvement in cold storage
facilities, RBI said.

“As the COVID-19 pandemic spread across the globe, all commodity prices dipped. The shutdown of industries in China in February 2020 and later in Europe and the US led to a
fall in demand for metals, easing their prices.

“Prices of food items like palm oil, soy oil, sugar and corn also declined with retrenchment in demand for ethanol and bio-diesel as crude oil prices declined,” the report
said.

The COVID-19 pandemic will inflict deep disfiguration on the world economy and the shape of the future will be heavily contingent upon the evolving intensity, spread and duration of COVID-19 and the discovery of the elusive vaccine, the RBI said.

Cautioning that India’s potential output may undergo a structural downshift following the pandemic, the Reserve Bank on Tuesday made a strong case for deep-seated and wide-ranging reforms to regain losses and return to the path of sustainable economic growth.

The COVID-19 pandemic will inflict deep disfiguration on the world economy and the shape of the future will be heavily contingent upon the evolving intensity, spread and duration of COVID-19 and the discovery of the elusive vaccine, the RBI said in its ‘assessment and prospects’ which forms part of the central bank’s Annual Report for the year 2019-20.

Post-COVID-19, the overwhelming sense is that the world will not be the same again and a new normal could emerge, the Reserve Bank of India (RBI) said.

“In a post-pandemic scenario, deep-seated and wide-ranging structural reforms in factor and product markets, the financial sector, legal architecture, and in international competitiveness would be needed to regain potential output losses and return the economy to a path of strong and sustainable growth with macroeconomic and financial stability,” the RBI said.

As in the rest of the world, “India’s potential output can undergo a structural downshift as the recovery driven by stimulus and regulatory easing gets unwound in a post-pandemic scenario,” it noted.

Moreover, this recovery is likely to be different as the global financial crisis occurred after years of robust growth with macroeconomic stability; by contrast, COVID-19 has hit the economy after consecutive quarters of slowdown, it added.

A Covid-Era How-To For The Money-Wise

Lessons on investor behaviour during the unprecedented pandemic

Booms and bull runs lead to “irrational exuberance”, a term coined by Alan Greenspan, former chairman of the US Federal Reserve, in 1996. More than a century before him, author Charles Mackay ­explained the phenomenon succinctly in his aptly titled book, Extraordinary Popular Delusions and the Madness of Crowds. He presciently wrote, “Every age has its peculiar folly…into which it plunges, spurred on by the love of gain, the necessity of excitement, or the mere force of imitation.”

Panics and investment pandemics, in contrast, lead to another kind of herd mentality, a lunacy that too is irrational and dynamic. However, what drives it are the pain of loss, inevitability of volatility, and a desperate need to protect savings. Only in retrospect do investors realise the bitter truth in both cases. Economist Robert J. Shiller explained this about two decades ago when he wrote that the markets do not always ­reflect the “sum of the available ­economic information”.