ISDA is consulting on fallback adjustments for USD LIBOR, HIBOR and Canada's CDOR. It is also proposing to include the SOFR in Singapore's SOR calculation following USD LIBOR's cessation.
The Reserve Bank of New Zealand has revoked ANZ’s right to model its operational risk capital requirements due to persistent failures in controls.
The launch comes as funds globally experience significant margin pressures, and amid a need for reduced frictions in cross-border distribution of funds.
The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.
A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for "showing favour" in hiring the bank for IPO sponsor work.
The changes include enhanced repo market liquidity and flexibility, easier access to forex market, and an improved delivery mechanism for MGS futures settlements, among others.
Liu Shiyu, the former head of the CSRC who was replaced in January, is now under investigation in a corruption probe.
ICBC was reportedly the first bank to lower its lending rate on small business loans, offering a rate of 4.5% in Q4 2018, compared to the PBOC's one-year benchmark lending rate of 4.35%.
Individual traders at Citigroup, Barclays, RBS, JP Morgan and MUFG exchanged sensitive information and coordinated spot FX trading strategies through online chatrooms.
The CRO must function independently, with no other responsibility or 'dual hatting', and report directly to the MD, CEO, or risk management committee of the board.
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