Prudential Risk

Clearing & Post-Trade

ASX Releases Reports on CHESS System to ASIC, RBA

By Sanday Chongo Kabange | 06/06/2023

ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

Resolution & Recovery

IRDAI Orders SBI Life to Take Over Sahara India Life

By Ranamita Chakraborty | 05/06/2023

Sahara Life’s financial position has been deteriorating with rising losses and a higher percentage of claims to total premiums.

Emerging Prudential Risks

CFTC Proposes Rule Update to Account for Crypto and Cyber Risks

By Editors | 05/06/2023

The CFTC is considering requiring firms to update their risk management frameworks to account for related to crypto, AI, cyber, and climate.

Credit Risk

New Global Database of Credit Loss Metrics Launched

By Editors | 04/06/2023

New database provides estimations of macro-implied credit loss rates across jurisdictions, including to project future losses.

Resolution & Recovery

Credit Suisse Bankers Sue FINMA Over Lost Bonuses

By Editors | 04/06/2023

Some Credit Suisse bankers had their bonus awards based on AT1 bonds, which were wiped out in the government-orchestrated rescue in March.

Operational Risk

Regulators Urge Firms to Complete LIBOR Transition Efforts

By Manesh Samtani | 04/06/2023

At least $700bn worth of junk rated US corporate loans are still priced using USD LIBOR, according to estimates.

Emerging Prudential Risks

CBSL Starts Policy Easing Cycle to Revamp Economy

By Duruthu E Chandrasekera | 02/06/2023

The CBSL has lowered interest rates by 2.5 percent in a bid to restart credit flows and boost growth in the real economy.

Stablecoins

EU Proposes Lower Risk Weights for Stablecoins, Tokenised Assets

By Mark Johnston | 02/06/2023

Stablecoins backed by non-fiat assets such as gold would have a 250% risk weight. Those backed by fiat currency would be treated the same as the underlying.

Climate Risk

NGFS to Develop Transition Planning Standards for Supervisors

By Ranamita Chakraborty | 02/06/2023

MAS head Ravi Menon, who chairs the NGFS, said guidance on transition planning will be produced to help supervisors set expectations for FIs.