Capital / Liquidity

APRA Penalises Westpac For Breaches of Liquidity Standards

01/12/2020

Westpac will have to apply a 10 percent add-on to the net cash outflow component of its LCR calculation until its shortcomings have been rectified.

ESG / Sustainability

Singapore Banks Get New Best Practice Code for Commodity Financing

01/12/2020

The Code was developed by an industry working group of 28 commodity financing banks in consultation with trading firms and with the support of regulators.

Fintech / Regtech

APRA Grants TransferWise Licence to Directly Access NPP

30/11/2020

Access to Australia’s real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.

Securities / Derivatives

China to Grant Domestic Investors Greater Access to Foreign Markets

30/11/2020

The QDLP and QDIE programmes – piloted in Shanghai, Beijing and Shenzhen – will be expanded “in the near future”, according to China’s foreign exchange regulator

Securities / Derivatives

China: Banks Suspend Opening of Precious Metals Trading Accounts

30/11/2020

Seven banks have temporarily stopped opening new accounts for precious metals trading amid concerns that heightened volatility could lead to losses and complaints.

Fintech / Regtech

Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA

30/11/2020

The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.

Capital / Liquidity

BCBS Oversight Body Closes Off Basel III Policy Agenda

30/11/2020

A coordinated approach to mitigating Covid-19 risks will be adopted. Capital and liquidity buffer drawdowns are encouraged. Future adjustments to Basel III will be limited.

Securities / Derivatives

IASB Consults on Accounting Standard for Intra-group M&A

30/11/2020

IFRS 3 Business Combinations does not specify how to report transactions involving transfers of businesses between companies within the same group, leading to diversity in practice.

Market Infrastructure

ASIC Issues Guidance on Managing LIBOR-related Conduct Risk

30/11/2020

The new guidance is aimed at assisting entities in establishing necessary arrangements to mitigate conduct risk associated with the discontinuation of LIBOR.