Operational Risk

Liquidity Risk

Super Funds Pay Out A$1.3b in First Week of Early Release Scheme

By Editors | 04/05/2020

The Association of Superannuation Funds of Australia estimates that super funds may have paid out A$7.1bn in total, including the second week of the initiative.

Credit Risk

BNM Faces Backlash Over Revised Moratorium Guidance

By Editors | 03/05/2020

The initial version of BNM’s FAQs appeared to suggest that no extra interest would be charged on hire-purchase loans under deferment, but a revised illustration shows interest can accrue.

Capital Adequacy

Glass Half Full: Basel IV Presents Opportunity for Constructive Change, COVID-19 the Impetus

By Editors | 03/05/2020

The COVID-19 pandemic is an additional catalyst for financial institutions to generate fundamental structural change as they seek to implement Basel reforms, says AxiomSL’s Mahim Mehra.

Operational Risk

RBI Grants Banks Additional Time to Submit Regulatory Returns

By Editors | 01/05/2020

The regulator has listed 18 regulatory returns which banks can submit with a delay of a maximum 30 days. No extension is granted for the submission of statutory returns which are required by law.

Cybersecurity

SFC Offers Guidance on Cyber Risk of Remote Office Arrangements

By Editors | 29/04/2020

In a circular, the SFC sets out examples of controls and procedures to help licensed corporations protect their internal networks and data.

Operational Risk

Legacy Systems, Poor Data Quality Hindering BCBS 239 Adoption

By Manesh Samtani | 29/04/2020

Some banks have changed their BCBS 239 implementation strategies to comprehensively improve data quality, but this will take considerable time to resolve.

Operational Risk

CBIRC Instructs Banks to Halt Risky Crude Oil Products – Reports

By Editors | 28/04/2020

The verbal directions came nearly a week after an estimated $1.4bn in losses were recorded in a crude oil futures trading product sold by Bank of China.

Credit Risk

Aussie Majors to Provide Bridging Loans to Businesses Awaiting Subsidies

By Editors | 24/04/2020

ANZ, NAB, Westpac and CBA have agreed to set up new dedicated hotlines and expedite the processing of bridge financing applications as businesses wait to be paid wage subsidies.

Operational Risk

APRA Announces Reporting Requirement for Early Superannuation Release

By Editors | 21/04/2020

RSE licencees are asked to complete and submit APRA’s new Early Release Initiative data collection form on a weekly basis. The first data collection is due on 20 April.