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Operational Risk
RBI Issues Guidance to Enhance Internal Audit Function at NBFCs, UCBs
By Sanday Chongo Kabange | 07/02/2021
Internal audit frameworks of select NBFCs and UCBs will have to include an evaluation of the risk management systems and control procedures used in various areas of operations.
Emerging Prudential Risks
Australian Financial System Remains Fundamentally Sound: APRA
By Editors | 07/02/2021
APRA chair Wayne Byres says the banking, insurance and superannuation sectors were able to act as shock absorbers for the rest of the economy amid the Covid-19 pandemic.
Emerging Prudential Risks
China: Liaoning Govt to Merge 12 City Commercial Banks
By Editors | 07/02/2021
The PBOC said the new entity will better serve the high-quality development and overall revitalisation of Liaoning.
Cybersecurity
Taiwan Issues List of Institutions Required to Bolster Cybersecurity
By Ranamita Chakraborty | 05/02/2021
The critical infrastructure facilities believed to be on the list include Taiwan’s D-SIBs, science park operators and telecoms.
Operational Risk
FSC Penalises Citibank Taiwan Over Reporting Errors
By Editors | 05/02/2021
The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
Resolution & Recovery
Singapore Launches Simplified Insolvency, Restructuring Programme
By Editors | 05/02/2021
Eligible micro and small companies severely impacted by Covid-19 can apply for help with debt restructuring, business rehabilitation or orderly winding up.
Credit Risk
HK Bank Profitability Suffers, Loan Quality Deteriorates
By Editors | 04/02/2021
HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.
Anti-Money Laundering
CBIRC Probes Banks for Illegal Flows of Loan Funds into Real Estate
By Editors | 04/02/2021
The CBIRC’s Beijing and Shanghai bureaus have asked banks to review loans granted since mid-2020 to identify illegal inflows of credit funds into the real estate sector.
Capital Adequacy
Korea Raises Capital Requirements at Private Equity Funds
By Editors | 04/02/2021
The minimum required capital will be raised from 100mn to 300mn won. Private equity funds with high leverage will need 500mn won.
Capital Adequacy
UPDATED – Chinese Regulators Agree on Ant Group Restructuring Plan
By Editors | 03/02/2021
Under the plan, Ant Group will fold all of its businesses into a financial holding company that will be subject to PBOC oversight and capital requirements.
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