Prudential Risk

Credit Risk

China to Expand Property ‘White List’ Programme, Expand Funding

By Manesh Samtani | 18/10/2024

Approved loans for “white listed” projects reached CNY 2.23 trillion by 16 October. MOHURD said financing for such projects would increase to CNY 4 trillion by year end.

Emerging Prudential Risks

Singapore Amends Insurance Act Blocking Allianz-Income Deal

By Nithya Subramanian | 18/10/2024

The changes mean an extra layer of approval will be required for transactions involving insurers that are co-operatives or have co-operative links.

Operational Risk

FSB Proposes Common Format for Reporting Operational Incidents

By Editors | 18/10/2024

The FSB has published for consultation a common format which can be used by financial firms to report operational incidents.

Resolution & Recovery

FINMA Directs UBS to Make Adjustments to Recovery Plans

By Nithya Subramanian | 18/10/2024

FINMA said UBS’s resolution planning must be further developed to increase the options for action available if there is a risk of insolvency.

Operational Risk

HKMA Issues New Guidance Responding to Crowdstrike Outage

By Sanday Chongo Kabange | 30/09/2024

The HKMA offers guidance to authorised institutions on enhancing their operational resilience against the failure of third-party IT solutions.

Cryptocurrency

Japan FSA Issues Business Improvement Order on DMM Bitcoin

By Mark Johnston | 30/09/2024

DMM Bitcoin has until 28 October to submit plans to the FSA specifying measures to prevent a recurrence of the bitcoin theft it suffered in May.

Capital Adequacy

China Tightens Rules for Financial Leasing Businesses

By Editors | 29/09/2024

The rules raise the requirements for major shareholders of leasing companies and seek to improve corporate governance and risk management.

Emerging Prudential Risks

Korea to Require Higher Microfinance Contributions from FIs

By Mark Johnston | 29/09/2024

South Korea’s cabinet approved a revision to bolster financial assistance for vulnerable groups experiencing challenging economic conditions.

Resolution & Recovery

Japan’s Kirayaka Bank Gets 13 More Years to Repay Public Funds

By Thisanka Siripala | 28/09/2024

Kirayaka Bank has received approval from the FSA and its parent company’s shareholders to postpone repayment of $140 mn in public funds.