Prudential Risk

Structural Regulation

EU Commission Seeks to Further Extend Transition Period for Third-country Benchmarks

By Manesh Samtani | 20/07/2023

The European Commission says the extension is necessary to avoid destabilising the asset management sector and financial stability risks.

Structural Regulation

Deposit Caps Raised for Singapore Digital Banks GXS, Maribank

By Editors | 19/07/2023

Grab’s GXS Bank and Sea’s Maribank have both increased the maximum deposit allowed in savings accounts from S$5,000 to S$75,000.

Cloud & Infrastructure

Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges

By Manesh Samtani | 19/07/2023

BSP officials and members of the banking community attended a Regulation Asia-Adenza roundtable to discuss new XML-based reporting requirements in the Philippines.

Structural Regulation

China’s AMAC Revises Rules for Private Equity Asset Management Plans

By Editors | 18/07/2023

The measures aim to refocus the private equity industry’s attention back to its core operations, minimise potential conflicts of interest, and facilitate the growth of the industry.

AI Risk & Governance

US SEC Working on Rule Proposals to Mitigate Risks from AI

By Editors | 18/07/2023

SEC chairman Gary Gensler said AI could heighten financial fragility and promote herding behaviour among investors.

Operational Risk

APRA Finalises New Cross-industry Standard on Operational Risk

By Sanday Chongo Kabange | 17/07/2023

Boards should pay particular attention to ventures that may give rise to material or novel operational risks, including activities associated with crypto assets.

Stablecoins

Stablecoins Can Destabilise Financial Markets: NY Fed

By Jill Wong | 17/07/2023

A report by the Federal Reserve Bank of New York says the run on Terra shows how stablecoins can potentially destabilise financial markets and economies.

Emerging Prudential Risks

APRA Needs to Strengthen Superannuation Regulation: FRAA Review

By Ranamita Chakraborty | 17/07/2023

The Australian Prudential Regulation Authority (APRA) has welcomed the release of the Financial Regulator Assessment Authority (FRAA)’s review report on its effectiveness and capability in supervising and resolving issues in the superannuation sector.

Capital Adequacy

US Banks Push Back Against Proposed Higher Capital Requirements

By Mark Johnston | 14/07/2023

Higher capital requirements being considered could make it more difficult to provide credit to the economy, banks say.