Prudential Risk

Operational Risk

APRA Announces New Commencement Dates for Prudential Standards

By Editors | 16/04/2020

The new commencement dates relate to initial margin requirements and APRA’s prudential standards on information security, credit risk management and related entity exposures.

Emerging Prudential Risks

The ‘Great Lockdown’, A Crisis Like No Other: IMF

By Manesh Samtani | 15/04/2020

The IMF estimates the cumulative loss to global GDP over 2020 and 2021 to be around $9tr, which is greater than the economies of Japan and Germany combined.

Emerging Prudential Risks

G20 Agrees to Suspend Debt Payments for Low Income Nations

By Editors | 15/04/2020

The G20 is also calling on private creditors, working through the Institute of International Finance, to participate in the initiative “on comparable terms”.

Liquidity Risk

Hedge Funds Have Sufficient Liquidity, Low Leverage: IOSCO

By Editors | 15/04/2020

Hedge funds were found to have sufficient portfolio liquidity to meet investor redemption demands under normal market conditions, based on end-September 2018 data.

Operational Risk

FSC Taiwan Probes Trading Controls at Hua Nan Securities

By Editors | 15/04/2020

Hua Nan Securities reportedly lost $158mn on derivative warrants in March as a result of poor internal controls.

Liquidity Risk

ASIC Eases Financial Advice Rules to Facilitate Super Withdrawals

By Editors | 15/04/2020

Under ASIC relief, advice providers, tax agents and superannuation trustees are allowed to advise consumers on early withdrawals of their superannuation savings.

Emerging Prudential Risks

G7 Nations Back Debt Relief for Vulnerable Emerging Markets

By Editors | 14/04/2020

The G7 has declared its support for a temporary suspension of debt service payments due on official bilateral claims for all countries eligible for World Bank concessional financing.

Emerging Prudential Risks

FSB Updates G20 on Coordinated Response to Covid-19

By Editors | 14/04/2020

Since mid-March, FSB members have reported about 850 discrete actions to address the financial and economic fallout related to Covid-19.

Stablecoins

FSB Offers Recommendations on Regulating Global Stablecoins

By Editors | 14/04/2020

The consultative report proposes 10 high-level recommendations for jurisdictional authorities to advance consistent and effective regulation and supervision of global stablecoin arrangements.