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Operational Risk
‘Business As Usual’ for Hong Kong Banks, says HKMA Chief
By Editors | 23/07/2020
Chief executive Eddie Yue said the HKMA does not see that the national security law would affect the normal conduct of business in Hong Kong, provided it is permissible under existing regulations.
Cybersecurity
Singapore Financial Sector Sees Increased Cyber Attack Frequency
By Editors | 23/07/2020
In a VMware Carbon Black report, financial services firms cited a rise in attack frequency and sophistication, with custom malware the most frequently experienced attack.
Operational Risk
APRA Urges Super Licencees to Simplify, Consolidate Products
By Editors | 23/07/2020
This level of choice in the super industry may work against competition, overwhelming members with the more than 40,000 available options, says APRA’s Helen Rowell.
Capital Adequacy
APRA Signals Intent to Ease Bank Dividend Restrictions
By Editors | 23/07/2020
APRA will modify its capital management guidance next week to account for a ‘longer-term outlook’, chairman Wayne Byres said.
Credit Risk
Sri Lanka Banks No Longer ‘Scared’ to grant Covid-19 Loans
By Duruthu E Chandrasekera | 23/07/2020
Banks no longer need to risk weight the loans against capital due to a guarantee scheme announced by CBSL earlier this month.
Credit Risk
CBIRC Issues Final Rules for Banks Engaged in Online Lending
By Editors | 23/07/2020
Online loans by banks should generally not exceed a one year term or 200,000 yuan per household. Banks must ensure loan proceeds are not used for property or risky investments.
Capital Adequacy
Korean Regulators Approves K Bank Recapitalisation Plan
By Editors | 23/07/2020
K Bank’s recapitalisation plan was halted last April, forcing Korea’s first internet-only bank to stop offering loan products. It is now looking to regain ground lost to Kakao Bank.
Conduct, Culture & Accountability
ASIC to Seek Reforms to Responsible Lending Laws
By Manesh Samtani | 22/07/2020
ASIC has decided not to appeal the dismissal of its responsible lending case against Westpac; instead it will review its existing guidance and recommend legislative reforms.
Payments & Settlements
BNM Issues Draft Rules on Merchant Acquiring Services
By Editors | 22/07/2020
The exposure draft sets out regulatory requirements for merchant acquiring services to ensure proper risk management amid rapid changes in the e-payments landscape.
Credit Risk
India to Privatise Majority of State-owned Banks – Report
By Editors | 22/07/2020
The government is looking to sell majority stakes in state-owned banks, but the plan may not be feasible this financial year due to poor market conditions and rising bad loans.
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