Prudential Risk

Resolution & Recovery

MAS Announces Decision to Increase Deposit Insurance Limit

By Sanday Chongo Kabange | 24/09/2023

MAS will increase the maximum deposit insurance coverage from the current S$75,000 to S$100,000, starting from 1 April 2024.

Operational Risk

FSS Korea Issues Warning Against Fisheries Cooperatives Federation

By Sanday Chongo Kabange | 24/09/2023

The FSS management cautions and improvement requests to the National Federation of Fisheries Cooperatives for a failed overseas investment.

Credit Risk

RBI Revises Guidelines on Identification of ‘Wilful Defaulters’

By Editors | 22/09/2023

Lenders will have just six months after an account is categorised as non-performing to classify the borrower as a wilful defaulter.

Operational Risk

APRA to Enhance Standards on Superannuation Member Outcomes

By Editors | 22/09/2023

Deputy chair Margaret Cole said updating SPS 515 was one of APRA’s most important policy priorities in superannuation.

Capital Adequacy

RBI Extends Basel III Requirements to National Financial Institutions

By Editors | 22/09/2023

The five All India Financial Institutions will have to comply with Basel III capital adequacy requirements from April 2024.

Emerging Prudential Risks

MAS Finalises Framework for Designating Systemically Important Insurers

By Editors | 22/09/2023

The inaugural list of D-SIIs includes AIA Singapore; Income Insurance; Prudential Assurance; and Great Eastern Life.

Capital Adequacy

APRA Considers Options for Making AT1 Bonds More Useful

By Manesh Samtani | 21/09/2023

APRA notes that most AT1 bonds in Australia are held by retail investors, which could make it more challenging to write them down in a bank resolution.

Fraud, Scams & Cybercrime

Korea: FSS Uncovers More Embezzled Funds at BNK Kyongnam Bank

By Editors | 21/09/2023

The FSS determined that around $223mn was embezzled by a bank employee, more than five times the amount initially reported.

Data Privacy

RBI Expands Scope of Data Quality Benchmarking Requirements

By Editors | 21/09/2023

Credit information companies directed to establish data quality index for commercial and microfinance segments.