New Zealand's big four banks will have to increase capital to 18% of RWAs, and smaller banks to 16% of RWAs. Seven years will be given to implement the changes.
APRA, in a letter to the industry, has proposed plans for classifying all data collected from banks for its quarterly publications to be considered non-confidential and publishable.
The IMF also came out in support of the government’s policies to boost the economy, safeguard financial stability, and combat money laundering and terrorism financing.
Domestic brokerages Phillip Securities and iFAST prepare to draw up applications digital banking licence to fend off competition from foreign entrants and domestic banks expanding into brokerage business.
ASIC’s survey of 25 superannuation funds found that close to half of them followed best interest duty rules in the provision of financial advice to members.
The FSB undertook a study to understand the impact of Basel III on bank financing of SMEs and found no material impact on their access to capital and credit.
The MAS has received indications of interest for bitcoin and ether derivatives, regulated under the SFA, to be made available to investors in Singapore.
The FSB says a pre-cessation trigger should be added alongside a cessation trigger as standard language in definitions for both new and outstanding derivatives contracts.
The new 'Veritas' framework aims to improve internal governance among financial institutions around their solutions driven by artificial intelligence and data analytics.
French central bank establishes first Asian office in Singapore to enhance financial market cooperation; Canadian securities authorities pledge information exchange and fintech access.