Commentary

Survey findings and discussions with banks in the region indicate a lack of readiness for the LIBOR transition. But, failure to keep up will eventually prove disruptive, KPMG says.

PwC’s Shierly Mondianti and Irene Liu explore the advantages and disadvantages of the operating models for executing independent validation post-BCBS 239 compliance.

APAC’s data intensive regulatory environment is making it increasingly important for banks to adopt a strategic data framework, say Swati Kothari and Jackielou Imperial at Wolters Kluwer.

Australia’s approach to international payments needs to change, and reporting entities need to update their legacy systems for better reporting, say Eric Knight and Nick Armstrong.

Asian banks have a large and complex operational task ahead of them as they prepare for a post-LIBOR world after 2021, say KPMG’s Marie Gervacio and Luke Gower.

The FATF's responsibilities and the efficiency and effectiveness of its evaluation process must be reassessed, says RUSI’s Tom Keatinge.

Banks need to be cognisant of how the data they provide to regulators is being used, says Herbert Smith Freehills in its 2019 Global Bank Review.

Pierre Latrobe at Mazars discusses the measures the HKMA has taken so far to strengthen its macroprudential supervisory toolkit and address potential risks to the wider financial system.

To create a truly competitive advantage and achieve their commercial goals, Asia’s financial institutions need to integrate strong data culture into their data governance approaches.

Under the current AML model, the ultimate focus for FIs is to protect the institution and the bottom line rather than reduce money laundering, says RUSI's Matthew Redhead.