Operational Risk

Data Privacy

HKAB Sets Launch Date for New Credit Reference Platform

By Sanday Chongo Kabange | 19/04/2024

The new credit reference platform, known as ‘Credit Data Smart’, will start service on 26 April. Three CRAs are contributing data.

Conduct, Culture & Accountability

RBI Issues Directions to Foster Loan Pricing Transparency

By Ajoy K Das | 17/04/2024

All regulated entities will have to provide a Key Facts Statement to borrowers of retail and MSME loans from 1 October 2024.

Anti-Money Laundering

US, China Commence Meetings on AML, Financial Sector Resilience

By Mark Johnston | 16/04/2024

At the AML/CFT meetings, officials discussed virtual assets and beneficial ownership, with both sides agreeing to continue meeting regularly.

Cybersecurity

Financial Sector “Highly Exposed” to Cyber Risks, IMF Warns

By Manesh Samtani | 11/04/2024

This is the first time the IMF has assessed cybersecurity in its Global Financial Stability Report, which says cyber policy frameworks are “inadequate”.

Operational Risk

BNM Directs CIMB, Maybank to Explain Recent Service Outages

By Editors | 10/04/2024

CIMB Malaysia experienced service disruptions on some of its services on Tuesday, while Maybank saw some disruptions last Friday.

Operational Risk

NZ FMA to Require Operational Resilience as Licence Condition

By Sanday Chongo Kabange | 09/04/2024

The FMA also launched a new “light-touch” online notification form for licence holders to notify the regulator of material incidents.

Emerging Prudential Risks

US Treasury and PBOC to Conduct Joint Financial Shock Exercises

By Manesh Samtani | 09/04/2024

The exercises will help establish lines of communication between US and Chinese regulators and identify areas of potential cross-border contagion and other risks.

Liquidity Risk

India: Mutual Funds Set Guidelines for Responding to Stress

By Ajoy K Das | 08/04/2024

Mutual funds may impose restrictions on redemptions, restrict withdrawals, and increase exit loads in market stress events.

Anti-Money Laundering

US, China Secure New Agreement to Cooperate on AML

By Editors | 07/04/2024

Janet Yellen said the US and China will share best practices and provide updates on the actions being taken to close loopholes.