Capital / Liquidity

MAS Relaxes Capital Rules, Defers Policy Implementation

07/04/2020

MAS has adjusted banks’ capital and liquidity requirements to help sustain their lending activities, while also deferring a host of regulatory initiatives until further notice.

APRA Asks ADIs, Insurers to Suspend Dividends, Cash Bonuses

07/04/2020

Where Boards are confident they can approve a dividend on the basis of robust stress testing results that have been discussed with APRA, it should be at a “materially reduced level”.

Enforcement

SFC Fines HSBC Units for Cash Management Failures at Funds

07/04/2020

The identified concerns have all since been rectified, and the two units have agreed to pay over $430,000 into the affected funds, on top of a $451,000 fine from the SFC.

Enforcement

US Court Reverses 2017 Dismissal of Rate Rigging Suit Against Banks

07/04/2020

The decision effectively revives a suit by a group of investment funds against major banks over their alleged manipulation of yen LIBOR and euroyen TIBOR between 2006 and 2011.

AML / KYC

Singapore: Suspect Arrested in Covid-19 Money Laundering Case

06/04/2020

Quick intervention by seven banks allowed enabled the recovery of more than 60% of the amount scammed in the fraudulent sale of surgical masks and hand sanitisers.

Capital / Liquidity

Singapore Govt to Increase Risk Share on SME Loans

06/04/2020

The government will increase its risk share of loans made under existing loan financing schemes from 80% to 90%, for loans initiated from 8 Apr until 31 Mar 2021.

Fintech / Regtech

BOK Launches 22-Month Pilot Programme to Test CBDC Issuance

06/04/2020

Under the 22-month plan, the BOK will set up a CBDC pilot system and explore the technical and legal issues surrounding its introduction in Korea.

Capital / Liquidity

HKMA Sets Out Treatment of Loans Under 100% Guarantee Scheme

06/04/2020

IRB AIs should seek the HKMA’s exemption approval to apply the standardised approach for SME loans granted under the 100% Guarantee Scheme.

AML / KYC

Tiger Brokers NZ, Six Others Get Formal Warning for AML Failures

06/04/2020

A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.