The ABA's small business relief package will be extended to larger businesses, including commercial property landlords who agree not to terminate leases or evict tenants.
Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
The move will allow ADIs to dedicate time and resources to maintaining their operations and supporting customers, APRA says.
The new regime will be deferred until at least March 2021, allowing financial advisers to focus on helping their clients, staff and families during "this difficult time", the FMA says.
The government will allow individuals in financial stress to access superannuation savings, but may have underestimated the ability of super funds to meet withdrawals.
ASX will launch a public consultation in June on a new timetable for its CHESS replacement project, amid uncertainty created by the coronavirus pandemic.
The RBNZ will reduce the required minimum CFR from 75% to 50% to help banks make credit available for mortgage holidays and business finance guarantees.
‘APRA Connect’ go live dates will be delayed by at least six months to allow financial institutions to concentrate on their businesses and assist customers impacted by the coronavirus.
Including the new package, a total A$189bn is being injected into the economy by 'all arms of the government' to 'help build a bridge to recovery'.
Singapore and Australia have committed to allowing financial institutions to choose where their data is stored and prohibiting data localisation, among a raft of other agreements.
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