Supervision & Enforcement

APAC Overtook US in AML Penalties For 2020: Fenergo

10/12/2020

APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases.

Capital Adequacy

Big Banks Were Progressing on Basel III Agenda Prior to Covid

10/12/2020

Under full phase-in of the final Basel III standards, the capital shortfalls at Group 1 banks were €10.7bn based on end-December 2019 data, compared with €16.6bn at end-June 2019.

Tokenisation

Philippines: UnionBank, StanChart Complete Bond Tokenisation POC

10/12/2020

A dual tranche issuance totalling PHP 9 billion was mirrored on a bond tokenisation platform co-created by UnionBank and SC Ventures.

Reporting & Disclosures

ICMA Announces Launch of Climate Transition Finance Handbook

10/12/2020

The handbook provides clear guidelines on the disclosures on their climate change strategy issuers should make when raising funds in debt capital markets.

Cloud & Infrastructure

Global LEI Foundation to Develop ‘Cryptographically Verifiable LEIs’

10/12/2020

The ‘vLEI’ will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.

Capital Adequacy

APRA’s Revised Capital Rules Could Promote Competition: Fitch

10/12/2020

The proposals could improve the competitive position of standardised banks relative to advanced banks, particularly in relation to residential mortgage portfolios.

Capital Adequacy

BNM Finalises Transitional Arrangements for ECL Accounting

10/12/2020

Financial institutions can add back a portion of their Stage 1 and Stage 2 provisions for ECL to Tier 1 capital over a four or three year period.

Data Privacy

Korea to Introduce Inspections of Personal Data Handling at FIs

10/12/2020

The routine inspections are aimed at ensuring consistency in data protection standards in the financial sector amid a changing data industry in Korea.

Fraud, Scams & Cybercrime

Singapore Authorities Issue More Charges in Wirecard Probe

09/12/2020

The director of local accounting firm Citadelle Corporate Services was hit with three additional charges for falsifying letters confirming Wirecard cash balances.