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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
New Zealand: Mortgage Deferrals Will Not Impair Credit Ratings
By Editors | 10/04/2020
Banks have agreed with credit reporting agencies that customers who defer mortgage repayments due to Covid-19 will not have their credit ratings downgraded.
Cloud & Infrastructure
MAS Unveils Support Package to Bolster Financial Sector Capabilities
By Editors | 08/04/2020
The package includes training allowances, IBF course subsidies, salary support, digital acceleration grants, and free access to API Exchange.
Liquidity Risk
BSP Offers Banks Mark-to-Market Relief, Cuts Liquidity Requirements
By Editors | 08/04/2020
The accounting relief allows banks to effectively reverse unrealised losses resulting from a change in fair value. The MLR cut frees up almost $200mn for smaller lenders.
Operational Risk
ASIC, APRA Offer Best Practice Recommendations on LIBOR Transition
By Editors | 08/04/2020
ASIC, APRA and the RBA warn that a failure to transition to alternative reference rates could lead to significant reputational, operational and legal risk and disrupt financial markets.
Operational Risk
RBI Reduces Market Hours to Curb Volatility
By Editors | 06/04/2020
During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.
Credit Risk
Japan: Corporates to Get Financial Support, Easier Write Down Rules
By Editors | 06/04/2020
The FSA will convene a joint council of key industry bodies to agree on easier write-down rules, while the government prepares an aid package for large corporates.
Market Risk
BCBS, IOSCO Extend Initial Margin Deadlines by One Year
By Editors | 05/04/2020
With the extension, phase 5 implementation will take place on 1 September 2021 and phase 6 implementation on 1 September 2022.
Operational Risk
APRA, RBA Announce Changes to Financial Firms’ Reporting Obligations
By Editors | 02/04/2020
The agencies are standardising quarterly reporting due dates, deferring two reporting initiatives, and introducing a new reporting standard for SME lending.
Credit Risk
SEBI Asks Rating Agencies to Delay Default Recognition
By Editors | 31/03/2020
Market participants call SEBI’s move timely, amid fears of mass downgrades in light of the operational disruptions caused by Covid-19.
Credit Risk
Australian Banks Extend Loan Deferrals to More Businesses
By Editors | 31/03/2020
The ABA’s small business relief package will be extended to larger businesses, including commercial property landlords who agree not to terminate leases or evict tenants.
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