Prudential Risk

Credit Risk

CBIRC Imposes Further Restrictions on Online Lending by Banks

By Editors | 23/02/2021

New rules require banks to contribute no more than 70 percent of the capital when providing loans through an online lending platform.

Emerging Prudential Risks

MAS Proposes Revisions to Requirements for Insurers

By Manesh Samtani | 22/02/2021

MAS proposes to enhance the current requirements relating to enterprise risk management, investment risk management and disclosure practices.

Credit Risk

ABA Outlines Plans for Next Phase of Pandemic Support

By Ranamita Chakraborty | 21/02/2021

No customer is going to wake up the day after 31 March and find that there is some legal action being taken by their bank on their loan, said ABA CEO Anna Bligh.

Trading & Investment

China Considers Easing Restrictions on Offshore Investment

By Editors | 21/02/2021

Regulators will explore the feasibility of allowing individuals to use their annual foreign exchange quotas to invest in overseas markets.

Resolution & Recovery

FSC Korea to Enhance Recovery and Resolution Regimes of SIFIs

By Editors | 20/02/2021

SIFIs will have 3 months after designation to submit recovery plans to regulators. The FSC will have the authority to demand action from a SIFI in line with its recovery plan.

Payments & Settlements

US Court Rules Against Citigroup Over Revlon Error Payment

By Editors | 18/02/2021

The federal judge ruled that a group of asset managers are not required to return $501mn that Citigroup mistakenly paid early on behalf of Revlon last August.

Credit Risk

Philippine President Duterte Signs ‘Bad Bank’ Bill Into Law

By Editors | 17/02/2021

The law will help cushion lenders from a build-up of bad loans due to the Covid-19 crisis, allowing them to dispose of bad assets and keep the banking system stable.

Credit Risk

Korean Banks to Extend Loan Payment Deferment Programme

By Editors | 17/02/2021

Following talks with FSC Chairman Eun Sung-soo, five major banking groups agreed to extend the loan deferment programme until September.

Conduct, Culture & Accountability

ASIC Seeks Penalties from CBA for Overcharged Interest

By Editors | 17/02/2021

Due to a systems error, CBA charged more than 1,510 customers a higher interest rate than they were advised, amounting to A$2.2 million in overcharged interest.