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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
Hong Kong’s Banking Exposure Limit Rules: Implementation Challenges
By Gregory Achache | 21/04/2020
Many banks have merely instituted stopgap measures and temporary manual solutions to comply with BELR so far, say Synpulse’s Gregory Achache and Tim Alvner.
Cybersecurity
FSB Consults on Cyber Incident Response and Recovery Toolkit
By Editors | 20/04/2020
The toolkit lists 46 effective practices, structured across seven components: governance, preparation, analysis, mitigation, restoration, improvement, and coordination and communication.
Credit Risk
APRA Announces Reporting Requirement for SME Guarantee Scheme
By Editors | 18/04/2020
Lenders approved to participate under the Scheme must complete the new returns on a weekly basis, with the first collection due on 1 May.
Credit Risk
HKMA, Banks to Launch Debt Payment Holiday Scheme for Corporates
By Editors | 18/04/2020
All corporate customers with annual turnover under HK$800mn and with no outstanding loan payments more than 30 days overdue are eligible for the principal payment holiday.
Trading & Investment
SFC Seeks Certainty on ETF Market Making Continuity
By Editors | 18/04/2020
ETF management companies should procure more than one market maker, or secure arrangements for alternative market makers to quickly step in if there is a disruption.
Cybersecurity
Fintech Risks Could Undermine Financial Inclusion
By Editors | 16/04/2020
The CPMI and World Bank have set out key actions to help stakeholders address fintech risks in the context of achieving financial inclusion outcomes.
Operational Risk
APRA Announces New Commencement Dates for Prudential Standards
By Editors | 16/04/2020
The new commencement dates relate to initial margin requirements and APRA’s prudential standards on information security, credit risk management and related entity exposures.
Operational Risk
FSC Taiwan Probes Trading Controls at Hua Nan Securities
By Editors | 15/04/2020
Hua Nan Securities reportedly lost $158mn on derivative warrants in March as a result of poor internal controls.
Liquidity Risk
ASIC Eases Financial Advice Rules to Facilitate Super Withdrawals
By Editors | 15/04/2020
Under ASIC relief, advice providers, tax agents and superannuation trustees are allowed to advise consumers on early withdrawals of their superannuation savings.
Liquidity Risk
SC Malaysia Asks Fund Managers to Ramp Up Liquidity Stress Testing
By Editors | 12/04/2020
Stress testing should be conducted more regularly to assess the impact on fund liquidity and redemptions, and to pre-empt liquidity shortages before they occur.
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