Operational Risk

Korea to Standardise ‘Tech Financing’ Credit Models in 2021

23/12/2020

A new guideline being introduced will improve the accountability of ‘tech credit’ evaluating institutions and require them to use standard evaluation models.

Supervision & Enforcement

SFC Fines Fulbright Securities Over Short Selling Controls

23/12/2020

Fulbright Securities failed to detect and prevent illegal short selling failures in at least 93 instances over a period of at least six months.

Structural Regulation

Chinese Banks Urged to Extend Financing Support to Foreign Funded Firms

23/12/2020

Major foreign-funded companies should get equal access to some financing programmes as their Chinese counterparts, said a circular from MOFCOM and the CBIRC.

Structural Regulation

Chinese Fintechs Remove Bank Deposit Products from Online Platforms

23/12/2020

Smaller regional lenders have circumvented the geographical limits of their licences by offering deposit products on online platforms operated by Ant Group and Tencent, among others.

Liquidity Risk

BOJ Extends SME Lending Scheme, Pledges Continued Monetary Easing

23/12/2020

The central bank has extended its SME lending programme by six months and removed its upper limit of JPY 100 billion per institution.

Data Privacy

FSC Korea Expands Open Banking Access, Grants ‘MyData’ Licences

22/12/2020

“With more types of financial institutions joining the open banking system, it will help promote competition and improve consumer convenience,” the FSC said.

KYC & CDD

RBI Announces Extension of KYC Registry to Legal Entities

22/12/2020

The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.

Structural Regulation

Malaysia: BNM Tasks Committee With Benchmark Reform Objectives

22/12/2020

The Financial Markets Committee will be tasked with overseeing the development of an alternative reference rate for Malaysia and deciding on whether to retain KLIBOR.

Capital Adequacy

Korea FSS Considers Imposing Limits on Bank Dividends

22/12/2020

While banks performed better than expected this year, the FSS is concerned about new Covid-19 cases being detected in Korea and resulting economic uncertainty.