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Structural Regulation
Australia to Introduce Regulatory Reforms for FMIs
By Editors | 09/06/2021
The new crisis management regime will allow the RBA to manage a failure at a domestic clearing and settlement facility, supported by a AUD 5 billion standing facility.
Anti-Money Laundering
CBIRC Fines Four Banks for Property Lending Breaches
By Editors | 09/06/2021
Postal Savings Bank of China, China Merchants Bank, China Guangfa Bank and Shanghai Pudong Development Bank were fined a combined CNY 5.3 million.
Capital Adequacy
BCBS to Consult on Capital Rules for Banks’ Crypto Exposures
By Manesh Samtani | 09/06/2021
The proposed consultation builds on an earlier paper which outlined an approach that would subject direct crypto exposures to full deductions from CET1 capital.
Trading & Investment
CFTC Subcommittee Proposes Switch to SOFR for Interdealer Swaps
By Manesh Samtani | 09/06/2021
The ARRC said the change, proposed for 26 July, will allow it to formally recommend forward-looking SOFR term rates published by CME Group.
Credit Risk
APRA Proposes Phased Approach to New Credit Risk Reporting Standard
By Manesh Samtani | 09/06/2021
An interim and simplified reporting standard will apply while ADIs develop their capabilities for delivering the full suite of credit risk data collected by ARS 220.0.
Emerging Prudential Risks
Philippine FSCC Identifies Leverage as Key Downside Risk
By Ranamita Chakraborty | 08/06/2021
Cross-border effects are creating a layer of risks on top of scars that Covid has already inflicted on the domestic economy, the FSCC says.
Operational Risk
SFC Raises Supervisory Focus on Fund Manager Resilience
By Manesh Samtani | 08/06/2021
The SFC is on the lookout for funds with outsized and concentrated bets to prevent an Archegos-type event in Hong Kong.
Credit Risk
Taiwan Raises Cap on SME Loan Package
By Editors | 07/06/2021
The cap on the special loan package for SMEs is being raised from TWD 300 billion to TWD 400 billion, with room for further increases if necessary.
Market Risk
BSP Raises Bank Limits on Open FX Positions
By Ranamita Chakraborty | 07/06/2021
The BSP has raised the limit as part of a larger set of amendments to the framework for the management of banks’ open FX positions.
Structural Regulation
PBOC Accepts Applications to Establish Financial Holding Companies
By Manesh Samtani | 07/06/2021
China CITIC Limited and China Everbright Group have become the first to apply for approval to establish financial holding companies.
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