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Cloud & Infrastructure
FSB Calls on Authorities to Regulate BigTech in Financial Services
By Editors | 12/10/2020
Where financial services activities are undertaken by new types of actors, such as BigTech firms, the principle of ‘same risk-same regulation’ should apply, the report says.
Liquidity Risk
MAS Extends Liquidity Facility for FIs to Support SME Lending
By Editors | 12/10/2020
Enterprise Singapore has likewise extended its Temporary Bridging Loan Programme and its trade loan financing scheme, and enhanced its project loan financing scheme.
CBDCs
BIS Report Outlines Common Foundation for Retail CBDCs
By Editors | 11/10/2020
Any decision to launch a CBDC would depend on an informed judgment that the risks can be managed, including the risk of disintermediating banks or enabling ‘digital runs’.
Capital Adequacy
BSP Revises Minimum Capital Requirement for Digital Banks
By Manesh Samtani | 08/10/2020
The BSP will no longer consider a distinction between a basic and advance digital bank, according to a revised circular issued for industry review and feedback.
Capital Adequacy
Japan: Bank Stress Tests to Use Covid-19 as Baseline Scenario
By Editors | 08/10/2020
The BOJ and FSA jointly stress-tested banks using a common scenario for the first time in December. This year’s stress tests will use the Covid-19 pandemic as the common scenario.
Clearing & Post-Trade
ASX Proposes Auctions Mechanism to Handle Futures Participant Defaults
By Editors | 08/10/2020
ASX proposes rule amendments to allow it to auction off exchange-traded derivatives positions in the event that a futures clearing participant defaults.
Trading & Investment
China Accelerates Development of Infrastructure REITs Market
By Editors | 08/10/2020
REITs markets will play an important role in enhancing Shanghai’s status as an international financial centre, helping to attract overseas capital while promoting RMB internationalisation.
Operational Risk
Fed Orders Citigroup to Correct “Longstanding Deficiencies”
By Editors | 08/10/2020
The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.
Market Data & Technology
G20 Data Gaps Initiative Has ‘Proven its Value’: FSB, IMF
By Editors | 07/10/2020
The fourth progress report on phase two implementation of DGI-2 says progress made to date has proven its value during the crisis triggered by the Covid-19 pandemic.
Conduct, Culture & Accountability
Conduct Risk a Top Concern Among Banks, Insurers: ORX
By Editors | 06/10/2020
In retail banking, scenario development commonly featured conduct risk. In Asia Pacific, fraud has also been a significant concern among FIs.
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