Prudential Risk

Operational Risk

MAS Instructs DBS, Citi to Investigate Delayed Recovery from Outage

By Editors | 19/10/2023

The banks took longer than the required four hours to recover from last Saturday’s outage. MAS said it will take appropriate supervisory actions after gathering the necessary facts.

Credit Risk

APRA Calls for Improvements in Credit Risk Provisioning Practices

By Sanday Chongo Kabange | 19/10/2023

Judgment-based adjustments to address model and data limitations should be supported by appropriately documented analysis and robust controls and governance.

Resolution & Recovery

BIS General Manager Outlines Crisis Management Lessons from Bank Failures

By Mark Johnston | 19/10/2023

In a speech, Agustín Carstens reviewed the key features and outcomes of the interventions by the US and Swiss authorities to manage bank failures.

Cybersecurity

Lloyd’s Simulates $3.5tr Cyber Attack on Financial System

By Mark Johnston | 19/10/2023

Lloyd’s published a scenario that simulates a cyber attack that would cause $3.5tr in global economic losses over five years.

Resolution & Recovery

BOE’s Woods Outlines Banking Reforms Under Consideration

By Mark Johnston | 18/10/2023

The BOE is exploring options for maintaining access to deposits in small-bank resolutions, and refining subsidiarisation rules for foreign banks.

Operational Risk

Kakao Faces Possible Class Action Over Data Centre Fire

By Mark Johnston | 18/10/2023

Lawyer says Kakao owes compensation to users of its platforms who were affected by a fire at its data centre last year.

Supervision & Enforcement

RBI Imposes Record Penalty on ICICI Bank for Rule Violations

By Sanday Chongo Kabange | 18/10/2023

The penalty against ICICI Bank was more than all the combined penalties imposed by the RBI on private banks for fiscal year 2023.

Payments & Settlements

Japan FSA Orders Report Explaining Zengin-Net Outage

By Sanday Chongo Kabange | 18/10/2023

Zengin-Net has to produce a report explaining last week’s outage and measures taken to prevent a recurrence.

Cryptocurrency

BCBS Consults on Bank Disclosure Requirements for Crypto Exposures

By Editors | 17/10/2023

Major banks would have to disclose information on their crypto activities, crypto exposures, and related accounting classifications and capital and liquidity requirements.