Capital Adequacy

India Seeks Parliamentary Approval to Infuse More Capital into Banks

21/12/2018

The government plans to pump $11.8 billion into public sector banks to raise them out of the RBI’s PCA framework and increase the banking system’s lending capacity.

Conduct, Culture & Accountability

Licensees Should Avoid Employee Allocations in Equity Raising – ASIC

21/12/2018

Following a review of allocations practices in equity raising transactions, ASIC said allocations to employees should be avoided as they can present conflicts of interest.

Market Risk

S. Korea to Adopt IRRBB Standards in Mid-2019

21/12/2018

The FSS plans to revise banking supervision bylaws during Q1 2019, with implementation of IRRBB at domestic banks expected in mid-2019.

Payments & Settlements

All SWIFT Banks to Adopt gpi Payments by End-2020

20/12/2018

Over half of SWIFT’s cross border traffic now goes through as gpi payments, with full adoption by its 10,000 member banks expected by end-2020.

Conduct, Culture & Accountability

HKMA to Require Banks to Report on Culture Reform

20/12/2018

First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.

KYC & CDD

Taiwan FSC to Amend Rules on Beneficiary Disclosure

20/12/2018

Insufficient disclosures of corporate clients’ beneficiaries by financial institutions was cited as one of Taiwan’s shortcomings in the APG’s latest report.

Conduct, Culture & Accountability

Licensed Corporations Should Carefully Review Internal Controls – SFC

20/12/2018

The SFC has reviewed brokers’ internal control systems and found they are not adequately protecting client assets, supervising their staff or incentivising good compliance culture.

Liquidity Risk

PBOC Unveils New ‘Targeted’ Liquidity Facility for Banks

20/12/2018

The new ‘targeted medium-term lending facility’ is available to banks that demonstrate support for the real economy by lending to small and private companies.

Anti-Money Laundering

MAS Extends Prohibition Against Goldman’s Leissner to Lifetime Ban

20/12/2018

The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.