CBDCs

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.

Credit Risk

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.

Anti-Money Laundering

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.

Operational Risk

RBI Reduces Market Hours to Curb Volatility

06/04/2020

During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.

Credit Risk

Japan: Corporates to Get Financial Support, Easier Write Down Rules

06/04/2020

The FSA will convene a joint council of key industry bodies to agree on easier write-down rules, while the government prepares an aid package for large corporates.

Liquidity Risk

Bangladesh Announces Measures to Aid Businesses Through Lockdown

06/04/2020

Under a $7.9bn stimulus plan, banks will distribute working capital loans with the interest cost to businesses partly subsidised by the government.

Credit Risk

Vietnam Banks Offered Incentives to Aid Businesses

06/04/2020

About 11% of total outstanding loans in the banking system are estimated to not be paid as scheduled due to the coronavirus pandemic.

Fraud, Scams & Cybercrime

CSRC Opens Investigation into Fraud at Coffee Chain

06/04/2020

The chief operating officer of Nasdaq-listed Luckin Coffee, along with his employees, are said to have fabricated about $310mn worth of sales transactions.

Credit Risk

BCBS Issues Guidance on Treatment of Loans Under Relief

05/04/2020

IFRS 9 should be applied flexibly rather than mechanistically when estimating ECL, and payment moratorium periods can be excluded from the counting of days past due.