Enforcement

ICAC Charges SME Director & Clerk for Defrauding HK Banks

31/05/2020

The two are said to have defrauded seven banks of loans and banking facilities worth about HK$160mn, and deceived the TID and HKMC into issuing loan guarantees.

Capital / Liquidity

CBIRC Eases Restrictions on Bank Bond Investment by Insurers

31/05/2020

The CBIRC is scrapping requirements that only allowed insurers to invest in bank bonds of large issuers based on their asset size, capital adequacy and credit rating.

Market Infrastructure

ISDA to Launch 2020 Definitions on Digital Platform by Year-End

31/05/2020

Over time, the platform will allow information contained in the ISDA 2020 Definitions to automatically flow through to trading, operational and risk management systems.

Chinese Regulators Probe New ‘Group Savings’ Products at Banks

30/05/2020

‘Group savings’ products allow customers to join together as participants to receive better interest rates on savings, wealth management and loans

Capital / Liquidity

Large Enterprise Loans Can Count Towards Reserve Compliance: BSP

30/05/2020

The BSP said the revised measures are intended to provide credit and help ease the financial burden of firms heavily affected by the Covid-19 pandemic.

Capital / Liquidity

Bank Resilience to be Tested in the Coming Months: RBNZ

29/05/2020

Under the RBNZ’s ‘very severe’ stress test scenario, banks would fall below minimum regulatory capital, requiring “significant recovery responses” to avoid resolution options.

Market Infrastructure

WFE Details Industry Efforts to Ensure Cyber Resilience of Markets

29/05/2020

WFE members are continuously investing resources and technology to enhance their capabilities under the philosophy that it is not a question of ‘if’ they experience a cyber incident but when.

Bank of Korea Cuts Policy Rate to All-time Low

29/05/2020

Korea’s GDP shrank 1.4% year-on-year from January to March period, its biggest quarterly decline since the 2008 global financial crisis.

Enforcement

SFC Bans Guosen Fund Manager for Violating Staff Trading Policies

29/05/2020

The fund manager concealed his beneficial interests, direct control and trading activities in securities accounts held at an external brokerage.