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Market Risk
SFC Defers IM Rules, Maintains 1 September for VM Requirements
By Editors | 07/05/2020
While variation margin requirements will still take effect from 1 September 2020 as planned, initial margin requirements for non-centrally cleared OTC derivatives will be deferred by one year.
Credit Risk
APRA: Banks May Amend Loan Terms Without Full Serviceability Test
By Editors | 07/05/2020
APRA says banks may allow borrowers to change their loan conditions without conducting a normal serviceability assessment, but that such an arrangement should not exceed 12 months.
Credit Risk
CBIRC Allows Banks to Offer Debt-to-equity Products to Investors
By Editors | 07/05/2020
Banks have already been using bond issuances and their own capital to carry out debt-to-equity swaps since 2016. They will now be allowed to offer these assets directly to investors.
Fraud, Scams & Cybercrime
Singapore: HSBC Seeks Court Order to Replace ZenRock Management
By Editors | 07/05/2020
ZenRock is the latest Singapore commodities trader to come under scrutiny, for allegedly using the same cargo to secure financing from multiple banks.
Market Risk
S. Korea Defers Initial Margin Requirements by One Year
By Editors | 06/05/2020
The move is in line with the BCBS-IOSCO decision announced in April, and will help to ease the compliance burden on financial institutions amid the Covid-19 crisis.
Credit Risk
SEBI Initiates Probe into Franklin Templeton Fund Closures
By Editors | 06/05/2020
SEBI is reported looking to determine whether the firm violated rules, breached its fiduciary duty, or failed to act in investors’ best interests.
Clearing & Post-Trade
Industry Bodies Request Margin Exemption Extensions under EMIR
By Manesh Samtani | 06/05/2020
ISDA and other industry associations are asking for equivalence decisions for all jurisdictions that have implemented margin rules in line with the BCBS-IOSCO framework.
Conduct, Culture & Accountability
Taiwan FSC Warns Lenders Not to Overcharge for Covid-19 Loans
By Editors | 06/05/2020
The FSC will investigate banks that charge unreasonably high handling fees to circumvent the interest rate cap on relief loans.
Credit Risk
Hong Kong Set to Commence Fixed-rate Mortgage Pilot
By Editors | 06/05/2020
Under the six-month pilot scheme, participating banks will offer fixed-rate mortgage loans, capped at HK$10mn per loan transaction, and subject to a total aggregate cap of HK$1bn.
Capital Adequacy
BSP Approves Measures to Boost Lending to MSME Sector
By Editors | 06/05/2020
The measures include lower risk weights for MSME loans, deferred implementation of the revised risk-based capital framework, and an extension of the relief period for reporting past due and non-performing loans.
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