Capital / Liquidity

Philippines Approves ‘Bad Bank’ Bill Amid Rising NPLs

27/05/2020

The ‘Financial Institutions Strategic Transfer Act’ allows the creation of asset management companies to buy up non-performing assets from financial institutions.

Securities / Derivatives

CORRECTED – HKEX to Launch New Derivatives Products

27/05/2020

Subject to regulatory approval, 37 new futures and options contracts based on MSCI Asia and emerging markets indices will be launched in Hong Kong.

Capital / Liquidity

FSS Korea Directs Banks to Defer Business Expansion

27/05/2020

FSS governor Yoon Suk-heun said financial firms should brace for a “prolonged fallout of Covid-19” and focus on boosting internal reserves and loss absorbency capacity.

AML / KYC

Are Criminals Winning at Covid-19? Not Without a Fight

27/05/2020

Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.

China: Banks Directed to Cut Enterprise Financing Costs

26/05/2020

A new guideline jointly published by six agencies aims to further regulate how banks charge for and manage credit financing, protect borrowers’ rights, and reduce financing costs.

Capital / Liquidity

PBOC Governor Pledges Additional Measures to Support SMEs, Banks

26/05/2020

The PBOC plans to further extend SME loan repayment deferrals to 31 March 2021, further drive down real interest rates, and bolster support for banks.

Enforcement

APRA Blamed for Scrapped Class Action Against IOOF

26/05/2020

A Quinn Emanuel class action “was no longer in the interests of group members to continue” following last year’s dismissal of APRA’s lawsuit against IOOF.

Fintech / Regtech

ACCC Launches Consumer Data Right Accreditation Platform

26/05/2020

The platform serves as a trusted environment where approved participants can share encrypted data, and provides a portal through which banks and fintechs can apply to be accredited.

Capital / Liquidity

HKMA Issues Guidance on Treatment of Loans Under Relief

26/05/2020

The HKMA’s guidance on the treatment of loans subject to government guarantees and payment moratoriums is largely in line with guidance issued by the BCBS last month.