Prudential Risk

Resolution & Recovery

US Regulators Identify Flaws in Resolution Plans of Two Major Banks

By Editors | 20/12/2022

Credit Suisse’s resolution plan had two deficiencies relating to its cash flow forecasting capabilities and governance for its US operations. BNP Paribas had one shortcoming.

Capital Adequacy

MAS to Defer Implementation of Final Basel III Reforms

By Editors | 20/12/2022

MAS said it will defer the implementation of the final Basel III reforms in Singapore, to between 1 January 2024 and 1 January 2025.

Emerging Prudential Risks

APRA Heatmap Identifies 15 Poorly-Performing MySuper Products

By Sanday Chongo Kabange | 19/12/2022

An estimated 8.1 million MySuper members benefitted from a drop in total fees and costs since last year’s heatmap was published.

Capital Adequacy

BNM Consults on Capital Requirements for CCP Exposures

By Editors | 19/12/2022

Proposed framework sets out requirements for managing risks arising from a financial institution’s exposures to CCPs in their capacity as a clearing member or a client of a clearing member.

Cryptocurrency

NYDFS Issues Guidance on Crypto-Related Activities for Banks

By Sanday Chongo Kabange | 19/12/2022

New York regulated banks, as well as branches and agencies of foreign banks licensed by the NYDFS, need prior approval to engage in virtual currency-related activities.

Emerging Prudential Risks

Systemic Risk Scores in Global Insurance Sector Are Rising: IAIS

By Mark Johnston | 19/12/2022

Higher systemic risk scores are driven by increased exposures to illiquid and difficult-to-value assets, OTC derivatives, repo transactions and other factors.

Capital Adequacy

Basel Rules for Cryptoassets to Take Effect in Jan 2025

By Manesh Samtani | 19/12/2022

1,250% risk weight not applicable to custodied assets. Infrastructure risk add-on no longer mandatory. Gross limit on total Group 2 exposures raised from 1% to 2%.

Structural Regulation

Philippine Lawmakers Advance Bill to Establish Sovereign Fund

By Editors | 18/12/2022

Critics say the bill’s timing is poor due to the country’s lack of surplus funds, high national debt, large trade deficit, and other economic problems.

Stablecoins

BOK Seeks Legal Authority to Regulate Stablecoins

By Editors | 17/12/2022

BOK says stablecoins pegged to foreign currencies should be subject to foreign exchange laws, while those pegged to the Korean won should fall under the central bank’s regulatory remit.