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Operational Risk
News on frameworks, regulations, and major events related to risks arising from internal processes, systems failures, human errors, or external disruptions.
Credit Risk
Korean Banks Pledge to Enhance Support for Small Businesses
By Editors | 10/12/2024
The KFB and member banks agreed at the first meeting of a new task force to develop effective and sustainable support measures for small business owners.
Credit Risk
Taiwan Relaxes Rules for Providing Credit to HNW Clients
By Editors | 10/12/2024
Banks are allowed to accept foreign bonds, offshore structured products, or foreign currency-denominated structured bonds as collateral.
AI Risk & Governance
MAS Issues Information Paper on AI Model Risk Management
By Nithya Subramanian | 06/12/2024
The paper sets out good practices for managing risks associated with AI, including GenAI, based on a thematic review of banks’ practices.
Credit Risk
Japan FSA Calls on FIs to Provide Flexible Lending to Businesses
By Thisanka Siripala | 05/12/2024
The FSA urges FIs to prioritise flexible loans and repayment plans tailored to the circumstances of each business.
Operational Risk
HK Banks Making ‘Good Progress’ on Operational Resilience: HKMA
By Manesh Samtani | 04/12/2024
HKMA’s Carmen Chu said all Hong Kong banks have developed the relevant frameworks and most are now conducting mapping and scenario testing exercises.
Data Privacy
Australia Concludes Review of Credit Reporting Framework
By Thisanka Siripala | 02/12/2024
The review resulted in 37 recommendations, including the introduction of a separate licensing regime for credit reporting bodies to ensure accountability.
Conduct, Culture & Accountability
New Zealand’s Kiwibank Fined for Breaches of Fair Trading Act
By Nithya Subramanian | 29/11/2024
The Commerce Commission has penalised Kiwibank for overcharging 35,000 customers a total NZD 6.8 million.
Emerging Prudential Risks
APRA Establishes New “Specialist Geopolitical Risk Team”
By Thisanka Siripala | 28/11/2024
The “specialist geopolitical risk team” is collaborating with other regulators to examine how global shocks may reach Australia and impact the financial system.
Conduct, Culture & Accountability
APRA, ASIC Finds “Possible Gaps” in FAR Implementation by Banks
By Sanday Chongo Kabange | 27/11/2024
APRA and ASIC identified possible gaps in registration and notification lodgements made since the FAR commenced for the banking industry in March.
Clearing & Post-Trade
IOSCO Publishes Final Guidance on Post Trade Risk Reduction Services
By Manesh Samtani | 26/11/2024
The guidance addresses risks relating to control and governance around algorithms, fair treatment of participants, data protection, and other areas.
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