Prudential Risk

Conduct, Culture & Accountability

APRA Releases Findings from Review of Remuneration Frameworks

By Manesh Samtani | 06/09/2023

The review assessed how banks, insurers and superannuation entities are approaching implementation of the new remuneration standards under CPS 511.

Conduct, Culture & Accountability

RBNZ, FMA Call on Regulated Entities to Improve Governance Practices

By Sanday Chongo Kabange | 06/09/2023

A joint cross-sector thematic review identified some good governance practices, but also areas where improvement is needed.

Credit Risk

FSC Korea Proposes Formal Adoption of Large Exposure Limit

By Sanday Chongo Kabange | 06/09/2023

The large exposure limit was implemented in March 2019 through administrative guidance, but the formal regulatory process was postponed until now due to Covid-19.

Emerging Prudential Risks

FSB Warns of ‘Further Shocks’ in G20 Progress Update

By Manesh Samtani | 06/09/2023

The update also discusses the FSB’s work to address NBFI risks, implement its recommendations on crypto regulations, and respond to climate-related risks.

Operational Risk

APRA Review Finds Gaps in Super Fund Valuation Practices

By Sanday Chongo Kabange | 05/09/2023

The review was conducted in late 2022, ahead of new investment governance standards taking effect in January.

Sustainable Finance

Hong Kong Launches Loan Guarantee Scheme for Electric Taxis

By Editors | 05/09/2023

Fully guaranteed loans are being provided to taxi owners to encourage them to replace their LPG, petrol or hybrid taxis with electric taxis

AI Risk & Governance

Fragility of Deep Learning Models May Present Systemic Risk: BOE

By Manesh Samtani | 04/09/2023

New paper says the “underlying fragility” of deep learning frameworks used by FIs increases risks for individual firms and the financial system.

Conduct, Culture & Accountability

ASIC Sues Westpac for Financial Hardship Misconduct

By Editors | 04/09/2023

ASIC said Westpac’s deficient process resulted in 229 customers not receiving a response to their hardship notice within the required 21 days.

Climate Risk

Supervisors Urged to Assess Climate Litigation Risks for FIs

By ESG Investor | 04/09/2023

The NGFS published two reports on climate-related litigation, the first outlining recent trends and the second focusing on micro-prudential supervision.