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ESG / Sustainability
A Review of Post-GFC Regulatory Approaches to Bank Boards
By Editors | 18/03/2020
Of the 19 jurisdictions surveyed, all prescribe ‘fit and proper’ criteria to assess bank board members, however some authorities have no regulatory powers to approve their appointments.
Market Infrastructure
IMF Offers Guidance on Offsetting Economic Impact of Covid-19
By Editors | 17/03/2020
Banks should be encouraged to undertake prudent renegotiation of loan terms for stressed borrowers, but loan classification and provisioning rules should not be eased.
Market Infrastructure
Singapore Banking Heads Discuss Independent Validation Function
By Shierly Mondianti | 17/03/2020
PwC spoke to DBS’s Sia Nam Chie and OCBC’s Simon Lavender about the challenges they faced setting up the independent validation function for BCBS 239 compliance.
Market Infrastructure
RBA Mulls First-Ever Quantitative Easing Programme
By Editors | 16/03/2020
The RBA says it stands ready to buy government bonds in the secondary market, while APRA and ASIC are tasked with ‘adjusting’ regulatory requirements to boost credit availability.
Market Infrastructure
BOJ, FSA Publish Findings on LIBOR Transition Progress
By Editors | 15/03/2020
About 50% of the 6.3 quadrillion yen in notional derivatives referencing LIBOR will mature after 2021, but “very few” contracts incorporate fallback provisions.
Market Infrastructure
SAFE Raises Upper Limit for Firms Borrowing Overseas
By Editors | 13/03/2020
The move will increase the funding channels available to SMEs, ease their financing difficulties and help them more quickly resume normal operations, SAFE says.
Market Infrastructure
Eurex Approved to Offer Clearing Services in Japan
By Editors | 12/03/2020
The FSA licence will allow Japanese financial institutions to combine their listed and OTC euro yield curve businesses in one single place, Eurex says.
Market Infrastructure
APRA’s New Data Collection Solution to Go Live in Six Months
By Editors | 12/03/2020
The revised timeline follows APRA’s decision in October to explore alternative implementation approaches for the new solution, which will be known as ‘APRA Connect’.
Market Infrastructure
PBOC, CSRC Pledge to Enhance Bond Market Functioning
By Editors | 12/03/2020
The regulators will work to optimise the bond issuance management system, promote bond product innovation, and enhance the policy environment for private enterprises.
Enforcement
SFC Considers Easing Data Storage Rules – Report
By Editors | 11/03/2020
Industry bodies are reportedly working with the SFC to clarify the rules and make compliance easier, though it is unclear what specific steps it will take to ease the requirements.
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