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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.
Operational Risk
China Issues New Rules for Consumer Finance Companies
By Editors | 20/12/2023
The rules focus on improving corporate governance, strengthening risk management, and enhancing protections for financial consumers.
Operational Risk
FSS Korea Targets Third-Party Risk Management With New Guidance
By Mark Johnston | 20/12/2023
The FSS has issued guidance to improve third-party risk management at firms that provide financial services electronically.
Fraud, Scams & Cybercrime
Taiwan: Cathay United Bank Fined Over Misappropriated Client Funds
By Editors | 20/12/2023
Two employees were involved in the misconduct. The bank was fined and is being required to increase its operational risk capital.
Operational Risk
BNM Finalises Capital Rules for Operational Risk, CCP Exposures
By Sanday Chongo Kabange | 18/12/2023
BNM consulted on the new requirements late last year. The new requirements will take effect on 1 January 2025.
Liquidity Risk
HKMA Sets Expectations on Managing Risk, IRRBB, Liquidity
By Manesh Samtani | 17/12/2023
Banks should establish social media monitoring frameworks, develop plans to respond to negative publicity, and limit how much HTM securities are held as HQLA.
Credit Risk
BNM Sets Regulatory Requirements for BNPL Products
By Manesh Samtani | 17/12/2023
The policy prohibits “pre-approved” BNPL credit, requires affordability assessments to be performed, and limits the fees that can be charged.
Trading & Investment
IOSCO Proposes Good Practices for Handling Market Outages
By Editors | 14/12/2023
IOSCO’s new consultation report identifies five good practices for trading venues to consider for improving market-wide resilience during an outage.
Capital Adequacy
UK Releases Policy Statement on Basel III Implementation
By Editors | 13/12/2023
The statement covers the standards for market risk, CVA risk, counterparty credit risk, and operational risk. A second release in Q2 2024 will cover the remaining elements.
Cybersecurity
Taiwan Consults US Experts to Protect Banks from Cyberattacks
By Nithya Subramanian | 13/12/2023
Though 55 percent of APAC’s malicious cyberthreats targeted Taiwan this year, it has “near-zero capability” to defend itself.
Credit Risk
US Regulator Issues New Guidance on BNPL Lending
By Mark Johnston | 12/12/2023
The OCC sets out risk management principles and compliance expectations for banks that offer BNPL loans to consumers.
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