Capital / Liquidity

APRA Orders Three Banks to Tighten Group Funding Arrangements

25/07/2019

Macquarie, Rabobank and HSBC had provisions in group funding agreements that could allow funding to be withdrawn in a stress scenario, potentially undermining their stability.

Fintech / Regtech

First Non-Financial Firm Approved to Raise Stake in Korean Digital Bank

25/07/2019

According to the FSC, messenger app operator Kakao has met the qualification criteria for owning a 34% stake in Kakao Bank, one of Korea’s two internet-only banks.

Capital / Liquidity

PBOC Sets Out Beijing Penalties for Deposit Reserve Violations

24/07/2019

Draft measures from the PBOC set out four types of penalties Beijing-based financial institutions must pay when their deposit reserves fall below statutory requirements.

Capital / Liquidity

CBIRC to Launch Special Inspections Targeting Property Lending Practices

24/07/2019

The special inspections will reportedly involve 75 banks in 30 cities, scrutinising all aspects of property-related loans, as regulators seek to rein in risk.

Enforcement

Equifax to Pay Up to $700m to US Authorities for 2017 Data Breach

24/07/2019

The penalty amounts allocated to the consumer compensation fund represent less than 3 US dollars for each of the estimated 147 million consumers who had their data stolen in 2017.

Big Picture

New Zealand FMA Sets Out Key Focus Areas, Strategic Objectives

24/07/2019

The FMA is prioritising governance, culture, systems and controls, as well as mechanisms to deter misconduct and facilitate informed decision-making by investors and customers.

Market Infrastructure

APRA Proposes New Prudential Standard on Executive Pay

24/07/2019

Key proposals include limits on the financial performance component of variable compensation, a 7-year deferral period for executive bonuses, and claw back for up to 4 years.

Fintech / Regtech

SFA, AFIN Agree to Jointly Promote Fintech Marketplace APIX

24/07/2019

The Singapore Fintech Association will leverage its network to promote the APIX platform to fintech firms worldwide, while AFIN connects banks with fintechs through the platform.

Market Infrastructure

BSE, SSE to Explore Dual Listings, Offshore RMB Products

23/07/2019

BSE India and the Shanghai Stock Exchange have agreed to develop communication channels to facilitate cross-border capital market cooperation.