Resolution & Recovery

FSB Finalises Guidance on Assessing CCP Financial Resources

16/11/2020

The guidance will support jurisdictions and authorities in determining whether there is a gap in the resources and tools available for CCP resolution.

Trading & Investment

Hong Kong MPFA Adds SSE, SZSE, IDX to Approved List

16/11/2020

The move provides MPF fund managers greater flexibility, allowing them to diversify investment risks and channel more assets into A shares.

Capital Adequacy

BOT Allows Banks to Pay Dividend for 2020, Subject to Limit

16/11/2020

The move follows an order from the BOT for commercial banks to suspend interim dividend payments and share buybacks in June.

Credit Risk

FSC Korea Moves to Prevent Accumulation of Household Debt

16/11/2020

Banks will be subject to a monthly inspection to assess their unsecured lending practices; the government will reduce the maximum legal lending rate from 24% to 20%.

Trading & Investment

ASX Suffers Near Full Day Outage Due to ‘Software Issue’

16/11/2020

ASIC said it was focused on ensuring that market integrity is not compromised and that it would monitor for any impacts resulting from Monday’s failure.

Operational Risk

Underinvestment in Data, Tech a Root Cause of Breaches: ASIC

16/11/2020

Underinvestment in data and technology systems creates operational risks, delays in picking up problems, and costly remediation programmes, says ASIC commissioner Sean Hughes.

Conduct, Culture & Accountability

Australia Introduces New Package of Royal Commission Reforms

15/11/2020

The package includes reforms to strengthen consumer protections, including by making industry codes enforceable and enhancing FIs’ breach reporting requirements.

Credit Risk

Taiwan Banks Asked to Bolster Controls on Mortgage Lending

15/11/2020

The central bank has said it could introduce selective credit controls if necessary to ensure financial system stability amid an over-heating property market.

Credit Risk

Philippine Senate Passes Bill to Establish ‘Bad Bank’ Framework

15/11/2020

The bill was fast-tracked amid fears that loan defaults could burden lenders and hamper their ability to provide credit to businesses and consumers.