Capital / Liquidity

BOJ Flags Financial Stability Risks from High Credit Costs, Investment Losses

22/04/2020

The BOJ has identified three main risks to the stability of the Japanese financial system – rising credit costs, investment losses and foreign currency funding risks.

Capital / Liquidity

ECB Officials Push for ‘Bad Bank’ to Clean Up NPLs – Report

21/04/2020

ECB officials are concerned that the coronavirus pandemic will trigger a surge in NPLs that could hamper banks’ ability to lend.

Enforcement

Singapore Police Open Probe into Renowned Oil Trader

21/04/2020

Hin Leong Trading’s founder admitted to concealing $800mn in losses from oil futures. The firm now unpaid debts of $3.85bn. Up to 23 banks are affected.

Securities / Derivatives

SEBI Extends Short Selling, Volatility Curbs Until 28 May

21/04/2020

SEBI has extended March measures that tightened market-wide position limits, raised margin rates, and capped on index derivatives positions.

AML / KYC

Industrial Bank of Korea to Pay $86m for US Sanctions Violations

21/04/2020

The bank failed to capture and prevent USD 1 billion in transactions to Iranian entities, cleared through financial institutions located in New York including its own branch.

Market Infrastructure

India’s New Foreign Investment Rules ‘Discriminatory’, says China

21/04/2020

The additional barriers violate the WTO’s principle of non-discrimination, and go against the general trend of liberalisation and facilitation of trade and investment, says the Chinese Embassy in India.

APRA Announces Reporting Requirement for Early Superannuation Release

21/04/2020

RSE licencees are asked to complete and submit APRA’s new Early Release Initiative data collection form on a weekly basis. The first data collection is due on 20 April.

Securities / Derivatives

Korea: Banks, Brokers Propose ‘Bad Bank’ to Recover Lime Asset Losses

21/04/2020

19 banks and securities firms will likely comprise the new entity, which will be charged with acquiring and selling the assets of Lime Asset Management’s funds.

CBSL Announces New Loan Facility to Aid Businesses

21/04/2020

Loans granted to businesses by participating FIs under the facility will be limited to two months working capital, with 2 years repayment terms and a 4% p.a. interest rate.