Capital Regulation

Tighter regulations will apply to financial affiliates of five major conglomerates Samsung, Hyundai Motor, Hanwha, Lotte and DB, as well as affiliates of Kyobo Life Insurance and Mirae Asset Daewoo.

Banks now allowed to use big data technology and consumer behavioural analytics to assess credit risks for personal lending portfolios.

Companies like Ant Financial, Citic Group and China Everbright Group may for the first time be required to obtain licences and meet capital requirements, reported Bloomberg.

Newly released restricted ADI licencing framework allows entities to conduct a limited range of activities for two years before fully meeting regulatory requirements.

Central bank forbids RQDII investors from exchanging the yuan for foreign currencies in offshore CNY investments.

New law aims to increase competition by allowing non-bank entities to enter credit card business; includes greater safeguards for borrowers related to calculation of charges, unfair collection practices, and the use of customer data.

Prudential inquiry reveals widespread complacency, inadequate risk management, unclear executive level accountabilities, among other failings at the bank.

New rules include leverage limits, a ban on implicit guarantees, risk reserve provisioning amounting to 10% of management fees; transition period for full compliance to last until end-2020.

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.

APRA is proposing to do away with a 2014 measure that set an annual 10% cap for home lending growth for banks that can demonstrate better lending practices and low lending rates.