Credit Risk

RBNZ to Re-instate Mortgage Lending Restrictions Early

29/11/2020

The RBNZ intends to re-impose LVR restrictions on high-risk lending with effect from 1 March 2021 – two months earlier than originally anticipated.

Trading & Investment

DSB Calls for Asian Members to Join Product Committee

29/11/2020

The DSB seeks to expand its Product Committee membership to include more OTC derivatives users from Asia to further broaden industry collaboration geographically.

Fraud, Scams & Cybercrime

Prosecutors Assess Whether EY Acted Criminally During Wirecard Audits

29/11/2020

Germany’s audit supervisor has reportedly told prosecutors that EY may have violated its legal due diligence and reporting obligations during its Wirecard audits.

Clearing & Post-Trade

CFTC Adopts Rule Changes to Facilitate Foreign Swaps Clearing

29/11/2020

The CFTC has extended no-action relief for non-US swap dealers from reporting requirements, and finalised rules for exempting non-US clearinghouses from registration requirements.

Structural Regulation

Philippine Central Bank Introduces Digital Banking Framework

27/11/2020

Foreign individuals and non-bank corporations are allowed to hold up to 40% of a digital bank’s voting shares, while foreign banks are allowed to hold up to 100%.

Clearing & Post-Trade

HKEX Outlines Derivatives Market Enhancements for 2021

26/11/2020

Market participants who plan to trade or clear selected derivatives contracts during Hong Kong public holidays will be asked to demonstrate technical readiness.

Resolution & Recovery

Indian Government Green-lights DBS Rescue of Lakshmi Vilas Bank

26/11/2020

All 563 branches of Lakshmi Vilas Bank will function as branches of DBS Bank India from Friday, bringing security to 400 employees and 2 million depositors.

Anti-Money Laundering

Philippines Approves House Bill to Strengthen AML Law

26/11/2020

The amendments will bring precious metals dealers, casinos and real estate brokers and developers into scope under the Anti-Money Laundering Act.

Anti-Money Laundering

RBNZ Investigates Two Banks Over AML Compliance

26/11/2020

The RBNZ is also looking into compliance issues eight banks have identified with transaction reporting requirements over the past six months.