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.
APRA and ASIC have suspended the majority of their planned policy initiatives and do not plan to recommence consultation on any non-essential matters before 30 September 2020.
The latest measures include a NZ$30bn bond-buying programme, a new term lending facility for banks, and additional liquidity to support funding markets.
Six-month exemptions from responsible lending obligations are available to lenders that provide credit to existing small business customers.
ASIC will take no action if AGMs of listed companies are postponed for two months, and supports the use of technology to hold virtual or hybrid meetings.
The agencies explain that they wish to ensure a consistent data source for March and June 2020, in order to capture the impact of the coronavirus.