Prudential Risk

Emerging Prudential Risks

ISDA Launches IBOR Fallbacks Supplement, Protocol

By Editors | 25/10/2020

The implementation of fallbacks for derivatives will help to mitigate the systemic risk that could occur following the disappearance of LIBOR.

Supervision & Enforcement

Super Licensees Must Observe Controlling Stake Requirements: APRA

By Editors | 23/10/2020

Regulatory approval is required before a change in a superannuation licensee’s ownership occurs. Noncompliance may attract “severe penalties”.

Structural Regulation

UK Consults on Post-Brexit Regulatory Framework for Financial Services

By Editors | 22/10/2020

The consultation proposes a blueprint for the future regulatory framework that more clearly allocates responsibilities between Parliament, HM Treasury and financial services regulators.

Liquidity Risk

APRA Penalises Breach of Prudential Standard on Liquidity

By Editors | 21/10/2020

Bendigo and Adelaide Bank will have to apply a 10 percent add-on to the net cash outflow component of its LCR calculation until its shortcomings have been rectified.

Structural Regulation

FSTB to Introduce ‘Corporate Rescue’ Bill for LegCo Deliberation

By Sanday Chongo Kabange | 21/10/2020

The FSTB also plans to introduce bills to provide targeted tax relief for private equity funds, enable a paperless securities market in Hong Kong, and progress work on the new eMPF platform.

Climate Risk

BCBS Task Force Outlines Progress on Climate Risk Initiatives

By Shruti Khairnar | 20/10/2020

Kevin Stiroh, Co-chair of the Task Force on Climate-related Financial Risks, highlighted the importance of globally concerted efforts and information sharing.

Credit Risk

FSC Korea Unveils New Measures to Lower Borrower Debt Burden

By Editors | 20/10/2020

Lenders will be prohibited from denying loan deferments on non-overdue loans and from activating a trigger clause for events of default when a borrower applies for debt adjustment.

Cybersecurity

RBNZ Consults on Draft Guidance on Cyber Resilience

By Editors | 20/10/2020

The guidance aims to raise awareness of, and ultimately promote, the cyber resilience of the financial sector, especially at the board and senior management level.

Payments & Settlements

Tokyo Stock Exchange Faces FSA Probe Over System Outage

By Manesh Samtani | 20/10/2020

Based on an on-site investigation and findings from JPX’s own investigative committee, the FSA will consider issuing a business improvement order.