Emerging Prudential Risks

China to Revise Central Bank Law This Year

27/05/2020

The revisions will likely expand the PBOC’s statutory responsibilities to include macro-prudential management, financial risk oversight, financial infrastructure and financial holding companies.

Credit Risk

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.

Trading & Investment

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 Adequacy

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.

Anti-Money Laundering

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.

Credit Risk

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.

Credit Risk

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.

Conduct, Culture & Accountability

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.

Data Privacy

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.