Capital / Liquidity

IASB Seeks Feedback on IFRS 9 Impairment Requirements

30/05/2023

The IASB is seeking feedback to help it assess whether the impairment requirements in IFRS 9 are continuing to work as intended.

Crypto / Digital Assets

HKMA to Ramp Up Cross-border Collaboration with UAE

30/05/2023

The HKMA will form a joint working group with CBUAE and banking sector stakeholders to take forward the agreed initiatives.

Capital / Liquidity

US OCC Sets Out Policy for Addressing “Persistent Weaknesses” at Banks

30/05/2023

The OCC may require banks to increase capital, restrict dividends, sell assets, divest subsidiaries or exit markets if they fail to fix “persistent weaknesses”.

ESG / Sustainability

HKMC Securitises First Batch of Infrastructure Loans

30/05/2023

HKMC’s pilot securitisation includes a $100mn sustainability tranche backed by sustainable, green and social assets.

Sanctions

OFAC Sanctions the Head of the Wagner Group in Mali

30/05/2023

OFAC says the Wagner Group has been attempting to purchase military systems from foreign suppliers and routing these weapons through Mali for use in Ukraine.

Enforcement

Singapore Court Order Credit Suisse to Pay Georgian Billionaire

29/05/2023

Credit Suisse was ordered to pay billionaire Bidzina Ivanishvili $926mn in compensation for failing to safeguard his assets from misappropriation.

Capital / Liquidity

EU Commission Grants Antitrust Approval for UBS-Credit Suisse Merger

29/05/2023

The UBS acquisition of Credit Suisse has been approved in the EU, but is being complicated in China by regulatory requirements.

Crypto / Digital Assets

Hong Kong Police Launch “CyberDefender Metaverse” Platform

29/05/2023

The platform is designed to help educate the public about cyber crimes in the Metaverse, especially those involving virtual assets.

Securities / Derivatives

CSRC Confirms Plans to Open More Futures Products to Foreign Investors

29/05/2023

Vice chairman Fang Xinghai said the CSRC plans to open more futures products to overseas investors and attract more foreign institutions to participate in the futures market.