Australia & NZ

Though domestic financial stability risks have abated, the RBNZ said higher bank capital requirements are necessary, while also easing mortgage lending curbs.

The court-suppressed penalties were paid by the RBA subsidiaries to settle charges of conspiracy to bribe foreign officials for the purpose of obtaining or retaining business.

APRA will align capital reforms with Basel III timelines, effectively pushing implementation to 1 January 2022. It has also adjusted the leverage ratio in response to consultative feedback.

Whether offering OTC derivatives, forex or cryptocurrency, retail trading platforms must put client interests front and centre, says OANDA’s Anthony Griffin.

Macquarie seen as the first responsible corporate role model in the nine months since banking royal commission public hearings began.

Strengthening trust in Australia's financial institutions requires better incentive systems, clearer lines of accountability and stronger penalties for misconduct, said RBA governor Philip Lowe.

The FMA expects banks to change sales-linked incentives, or explain how they will strengthen controls to address the risk of inappropriate sales.

Australia to provide approximately A$50 million for public prosecutions and federal court to expand staff and capacity to litigate banking and financial institution misconduct cases.

The FSB notes progress to strengthen major IBORs and identify RFRs and other alternative reference rates, highlighting actions taken in Australia, Hong Kong and Singapore.