Operational Risk

Clearing & Post-Trade

Leveraging Technology and Hong Kong’s Unique Position to Manage Risk

By John Killian | 18/06/2020

Hong Kong markets have continued to operate resiliently, due in large part to the emphasis HKEX places on risk management, says Group Risk Officer John Killian.

Anti-Money Laundering

AUSTRAC Given Two Month Deadline for New Westpac Claims

By Editors | 17/06/2020

Separately, APRA has delegated enforcement powers to ASIC, allowing it to seek fines or banning orders if Westpac is found to have breached banking laws.

Operational Risk

MAS Issues Directions on Safe Re-opening of Financial Sector

By Editors | 16/06/2020

Although access to in-person services will expand, MAS “strongly encourages” FIs and their customers to continue using digital financial services and e-payments as much as possible.

Clearing & Post-Trade

WFE Issues Guidance on CCP Handling of Non-default Losses

By Editors | 11/06/2020

At the ten largest CCPs, no CCP has ever allocated a loss to a clearing member related to custody or collateral investment through its rulebook, the guidance makes clear.

Structural Regulation

BOT Launches Regulatory Sandbox for P2P Lending Platforms

By Editors | 09/06/2020

The BOT will seek to use sandbox testing to ensure P2P lending platform providers adopted appropriate risk management and user protection practices.

Capital Adequacy

Radical Steps Needed from Vietnam Banking Sector

By Francois Denimal | 09/06/2020

Vietnam’s banking sector must take radical steps to adopt international capital rules, reporting requirements and trading practices, says Francois Denimal at FIS.

Supervision & Enforcement

CBIRC Issues Rules for Banks on Handling of Criminal Cases

By Editors | 04/06/2020

The CBIRC has set out banks and insurers’ obligations when handling criminal cases that arise, including duties to investigate, issue reports, determine accountability and hand out punishments.

Credit Risk

Credit Risk a Growing Threat in Hong Kong: Mazars

By Manesh Samtani | 02/06/2020

Banks need to be more agile in incorporating in their ECL model all latest reasonable and supportable information, including that which is forward-looking, says Pierre Latrobe.

Operational Risk

BOJ, FSA Direct Financial Firms to Take Action on LIBOR Transition

By Editors | 01/06/2020

FIs are asked to take specific actions to prepare for the cessation of LIBOR, and to submit materials allowing the BOJ and FSA to review preparedness at individual firms.