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Anti-Money Laundering
Citi Sent 99pc of Westpac Transfers That Breached AUSTRAC Requirements
By Editors | 04/12/2019
Citi is not under investigation, though AUSTRAC has criticised the bank for not providing sufficient information about the payments and the source of funds.
Resolution & Recovery
India’s DHFL to Undergo NCLT Bankruptcy Proceedings
By Editors | 03/12/2019
The National Company Law Tribunal has allowed the RBI to start insolvency proceedings against the troubled mortgage lender Dewan Housing Finance Limited under the new bankruptcy rules for financial firms.
Credit Risk
China to Double Number of Firms Allowed to Securitise NPLs
By Editors | 03/12/2019
Standard Chartered and the four large national bad debt managers are among the firms allowed to sell NPL-backed securities as China looks to expand its 2016 plan to clean up bank balance sheets.
Operational Risk
APRA Releases Practice Guide for Super Performance Reviews
By Editors | 03/12/2019
The business performance review requirement requires an RSE licensee to undertake a holistic assessment of its performance across its business operations, services and product offerings.
Fraud, Scams & Cybercrime
Chinese P2P Lenders to Close in Two Years
By Editors | 02/12/2019
Approved lenders can opt to convert to small finance companies in the two year grace period, as authorities moved to shut down the scandal-ridden sector.
Capital Adequacy
China to Relax Capital Raising Rules for Unlisted Banks
By Editors | 02/12/2019
The requirement for small lenders to sell shares in the OTC markets before issuing preferred shares has been removed to allow them to more easily raise capital.
Capital Adequacy
FSB Releases Final Feedback on SME Financing Study
By Garima Chitkara | 02/12/2019
The FSB undertook a study to understand the impact of Basel III on bank financing of SMEs and found no material impact on their access to capital and credit.
Liquidity Risk
MAS Highlights FX Liquidity, Cyber Risk in Latest FSR
By Manesh Samtani | 02/12/2019
In its latest Financial Stability Review, the MAS highlights pressures on foreign currency liquidity and the potential impacts of a cyber attack on Singapore banks and their service providers.
Market Risk
BCBS Proposes Revisions to Basel III CVA Risk Framework
By Editors | 29/11/2019
The proposed revisions aim to align the CVA framework with the final market risk framework, and to adjust the scope of portfolios subject to CVA risk capital requirements.
Conduct, Culture & Accountability
Employee Credit Checks by FIs Are Appropriate: MAS
By Editors | 29/11/2019
It is entirely appropriate for FIs to assure themselves that their employees and representatives are in good financial standing, the MAS says.
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