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Credit Risk
China Allows Nonbank Creditors to Initiate Creditor Committees
By Editors | 20/01/2021
To date, only bank creditors have been allowed to initiate the establishment of creditor committees, while nonbank financial institutions were often excluded.
Emerging Prudential Risks
FSB Publishes Work Programme for Year Ahead
By Editors | 20/01/2021
The work programme includes initiatives to strengthen NBFI resilience, enhance cross border payments, and address climate change, among other priorities.
Structural Regulation
Rakuten Launches First Digital-only Bank in Taiwan
By Editors | 20/01/2021
Rakuten International Commercial Bank was one of three groups granted authorisation to set up a digital bank in July 2019.
Resolution & Recovery
Australia: Xinja Bank Completes Return of Customer Deposits
By Sanday Chongo Kabange | 19/01/2021
Australian neobank Xinja announced in December that would be exiting the market, just 15 months after receiving its licence.
Credit Risk
Credit Quality Assessment a Challenge for China Bond Investors
By Manesh Samtani | 19/01/2021
Challenges assessing the credit quality of underlying corporates in China’s onshore bond market has been one of the key barriers for foreign investors, ICMA says in a new report.
Structural Regulation
PBOC, CBIRC Restrict Online Sale of Deposit Products by Banks
By Editors | 19/01/2021
The PBOC and CBIRC have formally barred banks from selling personal fixed deposit products online via third party platforms, citing regulatory violations.
Structural Regulation
UPDATED – PBOC Says Ant Group Working to Overhaul Business Structure
By Editors | 19/01/2021
Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.
Supervision & Enforcement
CBIRC To Supervise Insurance AMCs Based On Regulatory Ratings
By Editors | 18/01/2021
The proposed regulatory rating system will be tested from 13 January until end-2021, following which full implementation will occur starting 1 January 2022.
Liquidity Risk
Korea Announces Additional Support to Covid-19 Hit Businesses
By Sanday Chongo Kabange | 18/01/2021
The funding support includes additional support for small merchants, a new special lending programme, and additional funding for distressed asset manager KAMCO.
Supervision & Enforcement
CBIRC Sets Out New Rating System for Consumer Credit Sector
By Editors | 17/01/2021
Consumer finance firms with the lowest ratings will be ordered to submit to a merger, acquisition, reorganisation, or to withdraw from the market.
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