Credit Risk

RBI Urges Better Risk Monitoring, Faster NPA Resolution at State Banks

23/07/2019

RBI governor Shaktikanta Das asked state-owned banks to speed up bad debt recovery efforts, strengthen internal controls and risk monitoring, and help fix the ongoing NBFC liquidity crisis.

Data Privacy

Australia to Re-Introduce Open Banking Legislation This Week

23/07/2019

The Australian Banking Association welcomes the re-introduction of the legislation, following a lapse earlier this year when the federal parliament was dissolved.

Fraud, Scams & Cybercrime

Hong Kong ICAC Charges Five More Individuals in Convoy Case

23/07/2019

Six individuals are now charged with conspiracy to defraud the Hong Kong stock exchange and the board of directors, shareholders and investors of Convoy.

Trading & Investment

China Kicks Off Trading in New SSE STAR Market

23/07/2019

The first batch of 25 stocks raised over $5.4bn and ended the day higher by an average of 140% from their IPO prices, with some rising as much as 520% during the session.

Capital Adequacy

China Simplifies Issuance of Preferred Shares for Smaller Banks

23/07/2019

The revised guidance makes it easier for non-listed banks to replenish Tier 1 capital through the issuance of preferred shares. To date, only listed banks have issued such instruments.

Emerging Prudential Risks

FSB Adjusts Timelines to Implement Recommended SFT Haircuts

22/07/2019

The FSB has adjusted the implementation timelines for its framework recommendations for haircuts on certain non-centrally cleared securities financing transactions to align with Basel III.

Anti-Bribery & Corruption

China Bank Branch Head Commits Suicide Amid Corruption Probe

22/07/2019

China Development Bank’s Shandong branch head, Zhong Xiaolong, was reportedly being probed in connection with illegal loan guarantees made by the bank’s Jilin branch, where he was a former deputy head.

PEPs & Sanctions

Whistleblowers Allege SCB Cleared $57bn in Iran Transactions

22/07/2019

Whistleblowers reportedly claim that Standard Chartered Bank cleared more transactions in violation of Iran sanctions than the US government had used as its basis for fines issued in April.

Structural Regulation

China Announces 11 Measures to Open Up Financial Sector

22/07/2019

The measures ease restrictions on foreign investment in securities firms, asset management companies, FX brokerage, insurance and pension management, among others.