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News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.
Operational Risk
Controls at Vietnam Banks to Be Subject to Independent Audit
By Editors | 12/04/2022
Internal control systems at credit institutions and foreign bank branches in Vietnam will be subject to independent auditing, according to a new circular.
Operational Risk
APRA to Set Out Expectations for FIs Dealing in Digital Assets
By Editors | 11/04/2022
APRA will not be introducing new regulatory requirements for FIs or attempting to hinder innovation. Rather, it will be asking them to closely assess and monitor new operational risks.
Conduct, Culture & Accountability
Westpac Super Trustee Fined for Overcharging Commissions
By Editors | 10/04/2022
On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
Emerging Prudential Risks
Smaller Super Funds Face Bigger Sustainability Challenges: APRA
By Editors | 10/04/2022
On the whole, assets in small and medium sized super funds are declining. Large super funds can more easily spread their costs over a wider membership base.
Operational Risk
Business Model Analysis Can Aid Bank Supervisors: BIS Paper
By Editors | 08/04/2022
BIS says BMAs help identify banks’ vulnerabilities and provide grounds for early supervisory interventions, making bank supervision more effective, proactive and forward-looking.
AI Risk & Governance
OJK Launches New Integrated Data Analytics System
By Editors | 06/04/2022
‘OSIDA’ leverages data analytics and artificial intelligence to process and analyse large datasets reported by banks to detect risk.
Credit Risk
BOJ Publishes Details on Planned Bank Examinations for Fiscal 2022
By Manesh Samtani | 05/04/2022
Key areas of focus for the BOJ will be to assess how banks are managing climate risk, credit risk, cross-border loans, and cybersecurity.
Operational Risk
RBI Identifies Faults in Risk, Compliance, Audit Functions
By Sanday Chongo Kabange | 05/04/2022
The RBI has bolstered its supervisory focus at banks amid findings of compliance, risk management and internal audit weaknesses.
Emerging Prudential Risks
APRA Advances to Phase 2 of Superannuation Data Transformation
By Editors | 05/04/2022
Phase 2 will deliver more data on retirement outcomes, performance, efficiency, governance, risk management practices, fund operations and industry risks.
Structural Regulation
CBIRC Fines 21 Banks for Data Reporting Failures
By Editors | 04/04/2022
State-owned banks including BOC, CDB, ICBC and CCB were fined a total of USD 13.8 million for data quality and reporting issues.
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