Prudential Risk

Resolution & Recovery

UPDATED – RBI to Initiate Insolvency Proceedings at Two NBFCs

By Editors | 06/10/2021

Srei Infrastructure Finance and Srei Equipment Finance owe about INR 180 billion in loans to about 15 banks and INR 100 billion in external borrowings and bonds.

Climate Risk

IAIS Warns of Climate Risks Faced by Insurance Sector

By Ranamita Chakraborty | 06/10/2021

The IAIS estimates more than 35 percent of insurers’ investment assets are “climate-relevant”, i.e. exposed to climate risks.

Emerging Prudential Risks

CBIRC Directs Banks to Finance Coal Amid Energy Crisis

By Editors | 06/10/2021

China’s energy crisis is the result of efforts to reduce domestic coal production to meet climate policy objectives, exacerbated by a ban on imports from Australia.

Cryptocurrency

Lack of Crypto Regulation Presents Financial Stability Risk: IMF

By Mark Johnston | 05/10/2021

The IMF says more coordination among national regulators is needed to ensure effective enforcement, reduce regulatory arbitrage, and enhance monitoring of the crypto ecosystem.

Credit Risk

IASB Launches Post Implementation Review of IFRS 9

By Editors | 05/10/2021

Among other areas, the review seeks input on the application of IFRS 9 to financial instruments with sustainability-linked features and cash flows linked to ESG targets.

Credit Risk

Evergrande Poses No Threat to Hong Kong Stability: Paul Chan

By Sanday Chongo Kabange | 05/10/2021

Evergrande accounts for just 0.05 percent of local banking assets. Trading in the company’s shares was suspended on Monday ahead of a major announcement.

Operational Risk

SFC Issues New Guidance on Remote Working Risks

By Manesh Samtani | 05/10/2021

The SFC describes incidents that occurred due to failures to split teams amid the pandemic, set up phone recording, and promptly isolate a server compromised by ransomware.

Conduct, Culture & Accountability

New Zealand: Class Action Filed Against ANZ, ASB

By Editors | 04/10/2021

The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.

Liquidity Risk

Cambodia Central Bank Introduces Overnight Lending Facility

By Editors | 03/10/2021

The industry has welcomed the MLF as a measure that will allow FIs to support their operations, protect the financial sector, and continue lending.