Prudential Risk

Capital Adequacy

CBIRC Approves Capital Raise by Ant’s Consumer Finance Unit

By Editors | 05/01/2023

The approval is being hailed as a “milestone” after Chinese regulators forced Ant Group to cancel its IPO in November 2020 and ordered it to restructure.

Emerging Prudential Risks

Japan Insurance Gap to Limit LNG Flow from Russia

By Sanday Chongo Kabange | 04/01/2023

Following talks with reinsurers, Japanese insurers can continue offering marine war insurance to LNG carriers in Russian waters until March.

Cryptocurrency

US Banking Regulators Issue Statement Warning of Crypto Risks

By Editors | 04/01/2023

“It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the statement says.

Payments & Settlements

BNM Finalises New Rules for Electronic Money Issuers

By Editors | 03/01/2023

E-money issuers with more than 500,000 active users are subject to stricter governance, business continuity management and technology risk management requirements.

Supervision & Enforcement

CBIRC Revises Rating System for Foreign Bank Branches

By Editors | 03/01/2023

The new framework increases the weighting on compliance, and includes point deductions for mismanagement and increases in business risk.

Cybersecurity

Korea FSC to Revise Rules to Mitigate IT Security Risks

By Manesh Samtani | 02/01/2023

On-site inspection will be initiated “immediately” in the event that financial services are interrupted for more than three hours due to a computer accident.

Climate Risk

HKMA Revises SPM to Embed Climate Risk in Supervisory Approach

By Editors | 30/12/2022

Revised SPM illustrates the HKMA’s approach to the supervision of emerging risks such as climate risk under its risk-based supervisory approach.

Trading & Investment

Korean Brokers Put on Notice for Selling, Lending Practices

By Sanday Chongo Kabange | 28/12/2022

The concerns relate to self-issued equity and derivative-linked bonds sold by securities firms, and the offering of high interest credit loans to investors.

Data Privacy

Korea to Enhance KCIS Data to Facilitate SME Lending

By Editors | 28/12/2022

More granular information on SMEs will be added to the public credit registry. Additional measures will enhance competition in the credit rating market.