Prudential Risk

Conduct, Culture & Accountability

APRA Concludes Pilot Risk Culture Survey With 10 Insurers

By Editors | 15/10/2021

Based on responses from almost 7,200 insurance employees, APRA found some of the lowest scores in risk governance and controls.

Capital Adequacy

BSP Migrates to API-Based Regulatory Reporting

By Sanday Chongo Kabange | 14/10/2021

Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.

Operational Risk

Taiwan FSC Amends Personnel Rules for Mutual Funds

By Darien Choong | 14/10/2021

Eleven overseas firms offering securities investment trust funds in Taiwan will need to set up a local risk management department by end-2022.

Supervision & Enforcement

RBNZ Consults on Approach to Enforcement Decision-making

By Editors | 14/10/2021

A new consultation paper seeks feedback on the principles and criteria which will guide the RBNZ’s enforcement decision-making process moving forward.

Emerging Prudential Risks

FSB Reports Progress on NBFI Risks, Cross-border Payments

By Editors | 12/10/2021

A letter to the G20 ministers from the FSB focuses on work to develop a more resilient NBFI sector and address challenges in cross-border payments.

Emerging Prudential Risks

FSB Offers Policy Toolkit to Address MMF Vulnerabilities

By Manesh Samtani | 12/10/2021

Enhancing MMF resilience will help address systemic risks and minimise the need for central bank interventions to support the sector, the FSB said.

Climate Risk

Treasury, Other US Agencies Release Climate Action Plans

By Editors | 11/10/2021

The plan outline the steps the agencies will take to ensure their facilities and operations adapt to and are increasingly resilient to climate change impacts.

Structural Regulation

New Zealand FMA Censures Derivatives Issuer FIRMA NZ

By Editors | 11/10/2021

Firma NZ failed to conduct product suitability tests for clients and to regularly provide statements to investors. The contraventions were “persistent and systemic”.

Credit Risk

BSP Raises Loan Limits to Bolster Project Finance

By Editors | 11/10/2021

The single borrower limit was increased to mobilise funding toward projects that support the Philippines’ economic recovery efforts and nation building.