Prudential Risk

Anti-Money Laundering

China Fines Bohai Bank for Third Time This Year

By Editors | 16/03/2023

The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.

Operational Risk

Swedbank Fined for IT Incident Which Impacted 1m Customers

By Editors | 16/03/2023

Swedbank made a change to a business-critical IT system without following its internal procedures and processes.

KYC & CDD

MAS Publishes Findings from Inspections of VC Fund Managers

By Manesh Samtani | 16/03/2023

Some VCFMs did not make requisite disclosures to investors, have formalised policies and procedures in certain areas, and maintain a positive level of base capital.

Capital Adequacy

Swiss Regulators Offer Credit Suisse a Show of Support

By Editors | 16/03/2023

FINMA said Credit Suisse meets capital and liquidity requirements applicable to systemically important banks. SNB will provide liquidity to the bank if necessary.

Clearing & Post-Trade

DTCC Offers New Tool to Facilitate LIBOR Transition

By Editors | 16/03/2023

Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.

Climate Risk

European Banks to Undergo Climate, Cyber Stress Tests

By Mark Johnston | 15/03/2023

European regulators have been asked to conduct a one-off climate risk scenario analysis. The ECB separately plans to launch a thematic stress test on cyber resilience.

Cryptocurrency

Traders See Crypto Derivatives Market as Resilient: Acuiti

By Mark Johnston | 15/03/2023

New Acuiti report finds that 64 percent of surveyed crypto derivatives traders have concerns over proof-of-reserves quality.

Liquidity Risk

Sri Lanka Likely to Secure IMF Funding Next Week

By Duruthu E Chandrasekera | 15/03/2023

The IMF’s Kristalina Georgieva has welcomed “decisive policy actions” by Sri Lankan authorities and the financial assurances obtained from major creditors.

Reporting & Disclosures

ESG Scrutiny Reveals Cracks in Credit Rating Methods

By ESG Investor | 15/03/2023

An IEEFA study has found “no direct relationship” between ESG credit scores and credit ratings, due to ratings providers still “evaluating companies the traditional way”.