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PEPs & Sanctions
China Approves Plan to Impose National Security Law in Hong Kong
By Manesh Samtani | 28/05/2020
The move could impact Hong Kong’s special trade status under US law, lead to sanctions against officials, and trigger a downgrade of the city’s credit rating.
AI Risk & Governance
Singapore to Develop Metrics to Assess Fairness of AI-driven Decisions
By Editors | 28/05/2020
UOB and Element AI will develop fairness metrics for credit risk scoring; HSBC, IAG Firemark Labs and Gradient Institute will develop fairness metrics for customer marketing.
Capital Adequacy
Taiwan Defers Basel III, Eases Provisioning Norms
By Editors | 28/05/2020
The FSC has also clarified its expectations on ECL estimates under IFRS 9 and reiterated its relaxation of the D-SIB surcharge requirement.
PEPs & Sanctions
US State Dept Declares Hong Kong No Longer Autonomous
By Manesh Samtani | 27/05/2020
The move puts at risk the special status under US law Hong Kong has enjoyed since 1992, jeopardising billions of dollars worth of trade and investment.
Climate Risk
NGFS Publishes Climate Risk Best Practices of Supervisors, Banks
By Editors | 27/05/2020
Most banks have undertaken an operational commitment towards greening their balance sheets, consider their actions to be part of their corporate social responsibility or risk mitigation measures.
Capital Adequacy
Japanese FIs to Be Granted Easier Access to State Aid
By Editors | 27/05/2020
Applicant financial institutions will no longer have to set profit targets as a condition for receiving state aid, and the 15-year repayment deadline will be scrapped.
Model Risk
Higher Skin-in-the-game Linked to Lower CCP Model Risk
By Editors | 27/05/2020
A new BIS paper finds that a higher amount of CCP skin-in-the-game is associated with more careful risk modelling and less frequent margin breaches.
Emerging Prudential Risks
China to Revise Central Bank Law This Year
By Editors | 27/05/2020
The revisions will likely expand the PBOC’s statutory responsibilities to include macro-prudential management, financial risk oversight, financial infrastructure and financial holding companies.
Credit Risk
Philippines Approves ‘Bad Bank’ Bill Amid Rising NPLs
By Editors | 27/05/2020
The ‘Financial Institutions Strategic Transfer Act’ allows the creation of asset management companies to buy up non-performing assets from financial institutions.
Capital Adequacy
FSS Korea Directs Banks to Defer Business Expansion
By Editors | 27/05/2020
FSS governor Yoon Suk-heun said financial firms should brace for a “prolonged fallout of Covid-19” and focus on boosting internal reserves and loss absorbency capacity.
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