Prudential Risk

Resolution & Recovery

New Zealand Passes Bill to Enhance Depositor Protections

By Editors | 30/06/2023

The new deposit protection scheme will commence by late 2024, guaranteeing up to NZ$100,000 per depositor, per institution.

Capital Adequacy

UK: Financial Services and Markets Act Receives Royal Assent

By Editors | 29/06/2023

The Act sets a path to reform Solvency II, gives the FCA regulatory powers over crypto, and provides stronger protections for victims of APP fraud.

Resolution & Recovery

Sri Lanka Declares 5-Day Bank Holiday to Finalise Debt Restructure

By Duruthu E Chandrasekera | 28/06/2023

The government expects the country’s domestic debt restructuring process gets to conclude during the five-day market closure period.

Emerging Prudential Risks

Korea Considers Increasing Deposit Insurance Limit

By Editors | 28/06/2023

FIs are opposed to the move as it would raise the premium rates they pay for deposit insurance. Regulators say the impact should be “carefully examined”.

Resolution & Recovery

MAS Proposes Increasing Deposit Insurance Coverage

By Karen Ng | 28/06/2023

MAS says the proposed increase in deposit insurance coverage will allow the proportion of insured depositors to keep up with deposit growth.

Capital Adequacy

EU Reaches Provisional Agreement on Basel III Implementation

By Manesh Samtani | 28/06/2023

Elements of the final Basel III reforms would be phased in starting in January 2025, two years after the globally agreed deadline.

Operational Risk

APRA Imposes Capital Charge on Medibank Over 2022 Hack

By Sanday Chongo Kabange | 27/06/2023

APRA has decided to increase Medibank’s capital adequacy requirement for operational risk by A$250mn.

Structural Regulation

HKMA Proposes to Restructure Three-Tier Banking System

By Manesh Samtani | 27/06/2023

Hong Kong’s 12 remaining deposit-taking companies would need to upgrade into licensed banks or restricted licence banks and meet higher capital requirements.

Data Privacy

FSA, BOJ Offer Update on Joint Data Collection Project

By Mark Johnston | 26/06/2023

In the second half of fiscal 2023, regulators will use the new platform to start collecting “highly granular data on corporate lending” in stages, the FSA said.