Credit Risk

RBI Must Disclose Bank Inspection Reports – Supreme Court

03/05/2019

The RBI has been ordered by the India’s highest court to disclose its annual banking inspection report, which contains sensitive commercial information of banks.

Cryptocurrency

Australia Cracks Down on Cryptocurrency Tax Evasion

03/05/2019

The Australian Taxation Office is collecting data from cryptocurrency exchanges to feed into its data-matching technology to identify tax evaders.

CBDCs

Singapore, Canada Conclude First Trial on CDBC Cross-Border Payments

02/05/2019

MAS and the Bank of Canada linked up experimental payment networks despite their being built on two different DLT platforms.

Structural Regulation

New Opening Up Measures Coming ‘Soon’ – CBIRC Chairman

02/05/2019

CBIRC chairman Guo Shuqing says 12 new measures will soon be introduced to further open up China’s financial sector to banks and insurers.

Credit Risk

CBIRC Issues Stricter Rules for Banks on Loan Classification

02/05/2019

The new rules broaden the range of assets banks have to classify. If more than 5% of a borrower’s loans are 90 days past due, all loans from that borrower will be classified as non-performing.

Conduct, Culture & Accountability

Westpacs Provision Extra A$510mn for Customer Remediation

02/05/2019

Misconduct linked to the issues identified by the royal commission could cost Australia’s four largest banks up to A$10bn.

Anti-Money Laundering

MAS Consults on Proposed Framework for Variable Capital Companies

02/05/2019

The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.

Supervision & Enforcement

FSS to Relaunch Inspections of Financial Firms This Month

02/05/2019

The FSS will look into corporate governance, internal controls and consumer protection practices at KB Financial Group, KB Kookmin Bank and KB Securities, among others.

Trading & Investment

HK-China Stock Connect to Include Dual Class Shares from July

02/05/2019

HKEX and the CSRC have agreed to allow listed companies with dual class shares to be included in the southbound Stock Connect trading starting in July.