Capital Adequacy

New Zealand Banks Agreed to Suspend Dividends: RBNZ

03/04/2020

Banks have also agreed to not redeem non-CET1 capital instruments, while the RBNZ works to launch a new 3-year funding scheme by May.

Supervision & Enforcement

Global AML, Sanctions Fines Topped $8bn in 2019: Fenergo

02/04/2020

Last year was the second-biggest year on record for fines against financial institutions for AML and sanctions violations, according to a new report from Fenergo.

Structural Regulation

RBI Grants Exemptions to Small Finance Banks

02/04/2020

Existing small finance banks will not need prior RBI approval to undertake non-risk sharing simple financial service activities or open banking outlets in unbanked rural centres.

Fraud, Scams & Cybercrime

Hong Kong: SME Director Pleads Guilty to Defrauding 5 Banks

02/04/2020

DBS, HSBC, ICBC, Dah Sing Bank and Wing Hang Bank were defrauded of about HK$47.5mn in loans and banking facilities.

Credit Risk

Philippines Mandates 30-Day Grace on Loans During Covid-19 Lockdown

02/04/2020

All lenders are barred from charging interest, penalties, fees, or other charges on all loans to individuals, households, MSMEs and corporate borrowers during Luzon’s enhanced community quarantine.

Structural Regulation

CSRC Starts Accepting Licence Applications from US Fund Managers

02/04/2020

BlackRock and Neuberger Berman applications to set up wholly-owned mutual fund units were accepted on the first day foreign ownership caps were scrapped in China.

Operational Risk

APRA, RBA Announce Changes to Financial Firms’ Reporting Obligations

02/04/2020

The agencies are standardising quarterly reporting due dates, deferring two reporting initiatives, and introducing a new reporting standard for SME lending.

Credit Risk

NZ Banks Get Government Guarantee on New Loans

02/04/2020

Business loans under a new NZ$6.25bn scheme will be supported by a government guarantee on 80% of the loan amount.

Trading & Investment

India Further Opens Bond Market to Non-resident Investors

02/04/2020

The RBI has fully opened certain categories of government securities to non-resident investors and raised the FPI limit for investment in corporate bonds.