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Anti-Money Laundering
Shenzhen, Guangzhou Order Microfinance Firms to Halt Property Lending
By Sanday Chongo Kabange | 04/06/2021
Financial authorities in Guangzhou and Shenzhen have ordered microfinance companies to stop providing credit for estate assets and investments.
Structural Regulation
CBIRC Green-lights Ant Group Consumer Finance Unit
By Manesh Samtani | 04/06/2021
Ant will hold a 50% stake in the new unit, which forms a key part of the restructuring that was ordered to resolve regulatory concerns.
Trading & Investment
China’s SAFE Awards $10.3bn Worth of New QDII Quotas
By Editors | 04/06/2021
The new quotas, awarded to 17 institutions, represent the largest approval by SAFE in the history of the QDII scheme.
Credit Risk
HKMA Issues Guidance on Counterparty Credit Risk Framework
By Editors | 03/06/2021
The guidance is aimed at facilitating consistent interpretation and application of the capital requirements under the BCR as amended in April.
Operational Risk
SFC, HKMA Instruct Regulated Firms to Promote Vaccinations
By Manesh Samtani | 03/06/2021
The SFC says vaccinations are a critical part of operational risk management. The HKMA is requiring banks to submit a list of unvaccinated staff.
Structural Regulation
FSB, IOSCO Issue Statements in Support of Smooth LIBOR Transition
By Editors | 02/06/2021
The FSB warns against waiting for the development of forward-looking term RFRs. IOSCO urges market participants to stop issuing new LIBOR products.
Capital Adequacy
FSC Korea Expected to Lift Bank Dividend Cap in June
By Editors | 02/06/2021
Despite criticism from investors, most banks adopt a 20 percent cap on dividends, as recommended by the FSC in January.
Credit Risk
CBIRC Warns Small Banks to Rein In Property Lending
By Sanday Chongo Kabange | 02/06/2021
The CBIRC will punish lenders that help borrowers to circumvent regulations prohibiting the use of business loans to buy real estate.
Capital Adequacy
APRA Sets Out Timeline for Finalisation of Capital Reforms
By Editors | 02/06/2021
The final prudential standards will be released in November, the final prudential practice guides in Q2 2022, and the final version of the interim reporting standards in Q3 2022.
Credit Risk
BSP Sets Out Approval Procedures for Bad Loan Disposal
By Ranamita Chakraborty | 02/06/2021
The BSP has set out the procedure for lenders to apply for approval to dispose of NPAs under the provisions of the FIST Act.
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