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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.
Credit Risk
HKMA Extends Principal Payment Holiday Scheme Again
By Manesh Samtani | 05/03/2021
Principal payments of all loans of eligible corporate borrowers falling due between 1 May and 31 October 2021 should be deferred by a further six months.
Operational Risk
APRA Finalises Reporting Standard for Operational Risk Capital
By Editors | 04/03/2021
APRA has introduced a 35 day lag before data submitted for ARS 115.0 will become non-confidential, to ensure an ADI’s financial disclosures are published first.
Operational Risk
Japan’s Mizuho Bank Suffers Another Outage at ATMs
By Editors | 04/03/2021
Another system failure took down 29 Mizuho ATMs for three hours on Wednesday, just days after more than 5,000 ATMs went offline.
Operational Risk
BNM Revises Guidance on Operational Risk Reporting
By Editors | 03/03/2021
The revisions enhance the granularity of reporting requirements and align definitions with the FSB’s cyber lexicon.
Operational Risk
MAS, ABS Offer Guidance on Managing Remote Working Risks
By Manesh Samtani | 02/03/2021
The paper looks at possible risks to FIs in the areas of operations, technology, information security, fraud, staff misconduct, among others.
Operational Risk
FSA to Seek Report from Mizuho Over ATM Network Shutdown
By Editors | 02/03/2021
A system glitch caused the shutdown of over half of Mizuho’s ATMs on Sunday, with internet banking transactions also partially halted.
Conduct, Culture & Accountability
ASIC Launches Suit Against CBA Units Over Compliance Failures
By Editors | 01/03/2021
Commonwealth Bank said the issues arose from errors such as IT system coding or systems issues, human error and/or data entry errors.
Emerging Prudential Risks
Philippines to Establish Facility for Catastrophe Risk Sharing
By Editors | 28/02/2021
Domestic insurers that provide catastrophe risk coverage currently reinsure their risks overseas. The new facility will enable insurers to pool risk and resources domestically.
Credit Risk
Korea FSS to Issue New Risk Management Guidelines for Insurers
By Editors | 26/02/2021
South Korean insurers recorded a combined loss of KRW 194.4 billion from overseas alternative investments due to the pandemic.
Operational Risk
CBIRC Issues New Guidelines on Reputational Risk Management
By Editors | 24/02/2021
The guidelines set out four principles for all CBIRC-regulated financial institutions to incorporate in their reputation risk management systems.
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