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Conduct, Culture & Accountability
NZ FMA Finds “Poor Value” in Credit Card Repayment Insurance
By Editors | 24/09/2021
Underwriters and distributors are directed to ensure their systems, processes and controls facilitate good customer outcomes.
Operational Risk
Japan FSA Issues Business Improvement Order to Mizuho
By Editors | 24/09/2021
The order requires Mizuho to submit a report to the FSA by 29 October on its IT systems and detailed improvement plans.
Emerging Prudential Risks
China Expands Permitted Scope for Overseas Loans
By Editors | 24/09/2021
The draft rules seek to impose a cap on the total balance of offshore loans while also loosening restrictions on the types of lending banks can engage in.
Data Privacy
Ant Group’s Huabei Starts Reporting Credit Data to PBOC Database
By Editors | 23/09/2021
The data-sharing arrangement is part of the rectification measures ordered by financial regulators to break Ant Group’s “information monopoly” over data collection.
Capital Adequacy
Industry Bodies Call for Less Stringent Treatment of Cryptoassets
By Editors | 23/09/2021
The prudential framework envisaged by the BCBS consultation would create “material impediments” to regulated bank participation in cryptoasset markets.
Credit Risk
RBNZ Tightens Mortgage Lending Restrictions to Contain Risk
By Editors | 23/09/2021
The LVR restrictions are aimed at mitigating economic and financial stability risks associated with a potential future housing market correction.
Payments & Settlements
BNM Issues New Regulatory Requirements for Merchant Acquirers
By Editors | 23/09/2021
The new requirements will ensure merchant acquiring services have measures in place to manage settlement risk, financial risk, fraud risk, technology risk and cyber risk.
Operational Risk
RBI Finalises Guidelines for OTC Derivatives Market Makers
By Manesh Samtani | 23/09/2021
The guidelines impose requirements on governance, dealing conduct, risk management, internal control, internal audit and record-keeping.
Operational Risk
APRA Clarifies Position on Standards for Insurance in Superannuation
By Ranamita Chakraborty | 22/09/2021
APRA will not proceed with a proposed requirement for independent certification of priority and privilege arrangements to avoid “unintended consequences”.
Credit Risk
Regulatory Relief for Thai Banks to Raise Systemic Risk: S&P
By Pongnut Thanaboonchai | 22/09/2021
The average NPL ratio at Thai banks will likely rise to 6% next year, the highest level since the 2009 GFC, S&P Global Ratings says.
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