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Emerging Prudential Risks
FSB to Address NBFI Vulnerabilities as Key Priority in Year Ahead
By Manesh Samtani | 17/11/2020
In a letter to the G20, the FSB outlines its key priorities for the year ahead, including work to address vulnerabilities in money market funds, open-ended funds, and bond markets.
Credit Risk
PBOC Official Warns Lenders of Need to Protect Asset Quality
By Sanday Chongo Kabange | 17/11/2020
Sun Tianqi, appointed as head of the PBOC’s Financial Stability Bureau in May, urged commercial lenders to increase loan loss provisions and dispose of more NPLs.
Supervision & Enforcement
IMF Calls for Amendments to Philippine Bank Secrecy Laws
By Editors | 17/11/2020
The BSP should be granted “unimpaired access” to information on all customer accounts and the ability to employ and share depositor information for any prudential purpose.
Capital Adequacy
RBNZ Consults on Implementation of Bank Capital Changes
By Manesh Samtani | 17/11/2020
The RBNZ is consulting on new rules for the instruments that make up a bank’s capital, and proposed actions it will take if banks breach prudential capital buffer requirements.
Conduct, Culture & Accountability
‘Buy Now Pay Later’ Consumers Suffering Harm: ASIC
By Editors | 16/11/2020
About 20% of consumers cut back on or went without essentials such as meals in the last 12 months in order to make their buy now pay later payments.
Resolution & Recovery
FSB Finalises Guidance on Assessing CCP Financial Resources
By Editors | 16/11/2020
The guidance will support jurisdictions and authorities in determining whether there is a gap in the resources and tools available for CCP resolution.
Capital Adequacy
BOT Allows Banks to Pay Dividend for 2020, Subject to Limit
By Editors | 16/11/2020
The move follows an order from the BOT for commercial banks to suspend interim dividend payments and share buybacks in June.
Credit Risk
FSC Korea Moves to Prevent Accumulation of Household Debt
By Editors | 16/11/2020
Banks will be subject to a monthly inspection to assess their unsecured lending practices; the government will reduce the maximum legal lending rate from 24% to 20%.
Operational Risk
Underinvestment in Data, Tech a Root Cause of Breaches: ASIC
By Editors | 16/11/2020
Underinvestment in data and technology systems creates operational risks, delays in picking up problems, and costly remediation programmes, says ASIC commissioner Sean Hughes.
Credit Risk
Taiwan Banks Asked to Bolster Controls on Mortgage Lending
By Editors | 15/11/2020
The central bank has said it could introduce selective credit controls if necessary to ensure financial system stability amid an over-heating property market.
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