Fitch Ratings cut its assessment of Hong Kong banks’ operating environment from A+/negative to A/stable because of growing influence of Chinese economy on the industry.
Markets safer and more resilient 10 years post-GFC, but regulatory complexities and rapidly-changing risk landscapes persist as challenges to the industry.
Hong Kong legislation enables authorities to achieve orderly resolution in the event of a bank failure and provides clarity on the effect on depositors and other creditors.
Asia Pacific firms take over 16 months to detect breaches, compared to over three months globally; over 35 months if breaches detected by external parties.
Last week’s sovereign rating upgrade reflects the Indonesian government’s capacity to provide support in times of stress, particularly for systemically important institutions.
IMF can play key role to develop global regulatory approach; Lagarde calls for systemic risk assessment, expresses hope for crypto to improve financial ecosystem.
Australia’s Financial Stability Review says risks easing, financial system resilient; but dangers remain on household debt, weak risk control and poor culture at banks.
Moody's says loan growth outpaces capital growth at Philippine banks as strong macroeconomic conditions increase credit demand; banks require external capital raising to improve capital ratios.
Asia Commercial Bank shows improvement since imprisonment of former vice chairman for fraud, tax evasion and illegal trade.
Statement says deal on trade in services close to agreement, ASEAN members to also update wider agreement on cross-border services this year.