Capital / Liquidity

RBNZ to Adopt More Intensive Supervisory Approach to Banking

28/11/2019

The RBNZ’s financial stability report says it will bolster bank resilience with higher capital requirements and a “more intensive supervisory approach“.

Capital / Liquidity

BCBS Issues Guidance on Sectoral Countercyclical Capital Buffer

28/11/2019

The SCCyB is a targeted tool that national authorities can use to temporarily impose additional capital requirements that directly address the build-up of risks in a specific sector.

Securities / Derivatives

CFTC Fines Goldman $1mn for Three Weeks of Missing Phone Records

28/11/2019

Goldman’s phone recording hardware failed in January 2014 an went undetected for three weeks, thereby impeding an unrelated CFTC investigation.

Enforcement

Korea Progresses Financial Consumer Protection Bill

28/11/2019

The bill, approved by the national policy committee, contains six sales regulations to be applied to all financial products and establishes a legal basis for penalising firms in violation.

Enforcement

SAFE Penalises JD.com Unit for Illegal Overseas Transfers

28/11/2019

The overseas transfers were reportedly used by mainland residents to participate in online gambling sites tied to popular Macau casinos with international licenses.

AML / KYC

Mizuho Ordered to Pay Caymans-related Back Taxes and Penalty

28/11/2019

The bank is disputing the penalty, saying its Caymans subsidiaries were created for as a special vehicle for fundraising, and not to conceal profits or evade taxes.

Securities / Derivatives

SGX Enhances Securities Borrowing and Lending Programme

28/11/2019

Effective from 2 December, new variable rates will make it more attractive for institutional investors to borrow securities, increasing the opportunity for securities holders to generate income.

Capital / Liquidity

China Publishes Draft Framework for D-SIB Assessments

28/11/2019

Moody’s says the regulation may widen credit divergences between large and small banks, as the latter are less likely to receive less government support.

Market Infrastructure

China Eyes Stronger Data Governance Standards for Financial Sector

28/11/2019

The China Banking Association is working to develop technology standards to facilitate data analysis, while also ensuring adequate security and data quality management.