Prudential Risk

Resolution & Recovery

CBIRC Finalises Rules Allowing Foreign-Funded Finance Companies

By Darien Choong | 19/10/2022

Foreign-funded multinational groups can directly establish domestic finance companies to provide financial services to their member units in China.

Cloud & Infrastructure

Kakao Under Probe Over Unprecedented Service Disruption

By Editors | 19/10/2022

A fire occurred at a data centre where Kakao operates 32,000 servers that support the vast majority of its mobile services.

Credit Risk

RBI Tightens Rules on Disclosing NPA, Provisioning Divergences

By Editors | 18/10/2022

Norms that apply to commercial banks on disclosing NPA and provisioning divergences are being tightened, and extended to UCBs.

Emerging Prudential Risks

RBNZ Concludes First Consultation on Monetary Policy Remit

By Editors | 18/10/2022

Many respondents felt climate change should not be included in monetary policy decision-making, and that the RBNZ should increase its emphasis on price stability.

Conduct, Culture & Accountability

HK Consumer Council Warns of Inadequate BNPL Protections

By Editors | 18/10/2022

The Consumer Council is calling on non-bank BNPL service providers to apply for a Money Lenders Licence and to implement consumer protection measures “as soon as possible”.

Credit Risk

HKMA Revises Return Templates to Streamline Bank Reporting

By Editors | 18/10/2022

Banks are no longer required to report their top ten non-bank Mainland China exposures on an aggregate basis.

Capital Adequacy

EU Regulators to Assess Bank Dividend Plans ‘Case-by-Case’

By Editors | 17/10/2022

Steven Maijoor, who serves on the ECB’s supervisory board, said regulators are asking banks to be restrained with dividends and share buybacks.

Data Privacy

China to Interlink All Credit Reporting Systems Nationwide

By Editors | 17/10/2022

The PBOC will establish connectivity between all credit reporting systems and platforms nationwide, so data on each economic entity can be combined into a single “credit file”.

Resolution & Recovery

RBI Revises Rules for Asset Reconstruction Companies

By Editors | 16/10/2022

Under the new framework, ARCs can act as resolution applicants under the Insolvency and Bankruptcy Code.