Prudential Risk

Credit Risk

MAS Consults on Credit Risk Capital Requirements, Output Floor

By Editors | 28/03/2021

MAS is seeking feedback on draft standards relating to credit risk capital and output floor requirements which will start to take effect from 1 January 2023.

Conduct, Culture & Accountability

Australia Delays National Consumer Credit Protection Act Reforms

By Ranamita Chakraborty | 28/03/2021

Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.

Structural Regulation

FMSB Issues Draft Standard on ‘Appropriate’ Use of Term SONIA

By Manesh Samtani | 28/03/2021

The main use cases where a robust rationale may be identified for using Term SONIA in lending products include trade finance, working capital, and Islamic finance products.

Operational Risk

Continued LIBOR Use Presents ‘Safety and Soundness’ Risks

By Manesh Samtani | 25/03/2021

ARRC will not be able to recommend a forward-looking SOFR term rate by mid-2021. New York has approved legislation to facilitate transition for tough legacy contracts.

Structural Regulation

Taiwan to See First Merger of Financial Holding Companies

By Ranamita Chakraborty | 25/03/2021

Taipei Fubon Commercial Bank will be integrated with Jih Sun International Bank, and Fubon Securities with Jih Sun Securities.

Liquidity Risk

RBNZ Orders Westpac NZ to Address Risk Governance Issues

By Ranamita Chakraborty | 24/03/2021

Westpac’s New Zealand unit breached the RBNZ’s liquidity policy by incorrectly calculating mismatch ratios.

Operational Risk

Japan FSA to Inspect Mizuho Over System Failures

By Ranamita Chakraborty | 24/03/2021

The FSA will consider whether to take disciplinary action such as issuing a business improvement order against the bank.

Structural Regulation

Group of Seven Agrees to ‘Sizeable’ Increase in IMF Reserves

By Editors | 24/03/2021

The G7 has also agreed to work with the IMF to enhance transparency and accountability around the usage of SDRs.

Payments & Settlements

SEBI Issues Guidelines for MIIs on Handling Disruptions

By Sanday Chongo Kabange | 24/03/2021

The new guidelines follow last month’s trading halt at the NSE. The exchange has submitted a root cause analysis to SEBI.