Operational Risk

Capital Adequacy

US Fed Proposes Changes to Bank Stress Testing Framework

By Editors | 26/12/2024

Five US banking lobby groups filed a lawsuit a day later to force the Fed to increase transparency of its stress testing framework.

Operational Risk

HKMA Requiring Banks to Develop Capability to Switch Between CRAs

By Sanday Chongo Kabange | 20/12/2024

Retail banks must have agreements in place with more than one CRA by Jan 2025 and complete switch-over testing within Q2 2025

Operational Risk

FDIC to Pursue Legal Action Against 17 Former SVB Executives

By Editors | 19/12/2024

Chairman Martin Gruenberg said the executives breached their duties by mismanaging Silicon Valley Bank’s securities portfolios.

Operational Risk

APRA Identifies Valuation Governance Weaknesses at Super Funds

By Sanday Chongo Kabange | 18/12/2024

APRA said superannuation trustees need to further enhance their valuation and liquidity risk management practices.

Fraud, Scams & Cybercrime

Japan FSA Orders MUFG to File Report on Safe Deposit Box Thefts

By Sanday Chongo Kabange | 18/12/2024

The FSA ordered MUFG Bank to submit a report on the theft of customer assets from 60 safe deposit boxes by a former employee.

Cloud & Infrastructure

Revised Outsourcing Rules for Banks Take Effect in Singapore

By Manesh Samtani | 16/12/2024

Banks and merchant banks have to maintain a register of outsourced services and re-perform due diligence within 2 years of engaging a service provider.

Liquidity Risk

Fallout from Martial Law Declaration Continues in Korea

By Manesh Samtani | 12/12/2024

BOK injects liquidity. FSC chairman meets with foreign FIs and domestic firms. FSS governor asks analysts to trust in Korea’s economic fundamentals.

AI Risk & Governance

FSS Korea Implements Broad Organisational Reforms

By Editors | 12/12/2024

The FSS has reappointed 74 out of 75 department heads to “promote innovative thinking and work innovation”.

Cybersecurity

Hong Kong Advances Cybersecurity Bill for Critical Infrastructures

By Editors | 12/12/2024

The Bill seeks to impose statutory requirements on designated operators of critical infrastructures to ensure that they take appropriate measures to protect from cyberattacks.