Emerging Prudential Risks

BCBS to Amend Process for Reviewing G-SIB Methodology

21/07/2021

The BCBS plans to replace the existing three-year review cycle of the assessment methodology with a process of ongoing monitoring and review.

Supervision & Enforcement

HKMA Revises Policy Manual on Bank Group Supervision

21/07/2021

The SPM module was revised to reflect the current supervisory approach and practices adopted by the HKMA and to incorporate international standards.

Credit Risk

APRA Says Loan Deferrals Need Not be Treated as Arrears

20/07/2021

Banks will not need to treat the period of deferral being offered by banks to borrowers as a period of arrears or a loan restructuring.

Anti-Money Laundering

SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches

20/07/2021

Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.

Structural Regulation

ACCC Wary of Potential NAB Bid for Citigroup Unit

18/07/2021

NAB is in talks about a possible acquisition of Citigroup’s Australian retail banking business. The ACCC says it is paying close attention.

Tokenisation

SFC Issues Warning on Unregulated Virtual Asset Platforms

18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

Data Privacy

China to Exempt Hong Kong IPOs from Cybersecurity Reviews

18/07/2021

Chinese officials have reportedly outlined an exemption from the requirement to undergo a cybersecurity review for companies destined for a Hong Kong IPO.

PEPs & Sanctions

US Government Warns Of Rising Business Risk in Hong Kong

18/07/2021

A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

Credit Risk

BOT Allows Two-month Debt Holiday Amid Fresh Lockdown

18/07/2021

Individuals and SMEs impacted by the latest Covid-19 lockdown measures can suspend principal and interest payments for two months.