Credit Risk

Korea to Impose Stricter Measures to Control Household Debt

29/09/2021

FSC chairman Koh Seung-beom said the process of reversing the buildup of household debt will “take time and be uncomfortable”.

Sustainable Finance

China, EU to Publish Common Taxonomy by Year-End

29/09/2021

The China-EU common taxonomy for sustainable finance will make it easier for other countries to recognise China’s green financial assets, PBOC officials say.

AI Risk & Governance

OECD Calls on Financial Sector to Bolster Trust in AI

29/09/2021

A new OECD report identifies four determinants of trustworthy AI in the financial sector – transparency, fairness, data governance and accountability.

Structural Regulation

PCAOB Adopts Rule on Delisting ‘Non-compliant’ Chinese Firms

29/09/2021

The new rule could result in mass delistings of Chinese companies from the US market in 2024 unless the PCAOB is granted access to inspect Chinese audits.

CBDCs

Central Banks Create Prototype Platform for mCBDC Settlements

28/09/2021

The prototype platform was able to complete international transfers and foreign exchange operations in seconds while also lowering the cost of cross-border operations.

Cloud & Infrastructure

HKMA Issues Guide on Regtech Adoption for GRC

28/09/2021

The guide outlines common challenges associated with regtech adoption for GRC and describes how successful firms have addressed these challenges.

Cybersecurity

FIs Increasingly Sharing Data to Prevent, Mitigate Cyberattacks

28/09/2021

Global cyber intelligence sharing among financial institutions increased 60 percent in the past year, driven by supply chain and ransomware threats.

Anti-Money Laundering

HKMA Identifies AML/CFT Gaps in Stored Value Facilities

27/09/2021

The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.

Anti-Bribery & Corruption

China Targets Corruption with New Supervision Law

25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.