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Credit Risk
Westpac Faces Class Action for Irresponsible Lending
By Editors | 26/02/2019
Westpac has vowed to fight the claim, saying it takes its responsible lending obligations very seriously. But it could face a multi-million-dollar settlement if other borrowers join the class action.
Capital Adequacy
HKMA Chief of Ten Years Set to Retire in September
By Editors | 22/02/2019
Norman Chan will leave behind a healthy banking industry with strong capital ratios and low bad debt levels. A selection panel will identify the HKMA’s next chief.
Emerging Prudential Risks
No-Deal Brexit to Have Little Impact on S. Korea, says FSS
By Editors | 22/02/2019
If the UK crashes out of the EU without an orderly exit deal in place, the damage to South Korea’s economy will be slight, according to the Financial Supervisory Service.
Market Risk
CSRC Probes Losses at GF Securities Hedge Fund
By Editors | 21/02/2019
The CSRC is seeking details about large trading losses at a hedge fund managed by GF Securities’ Hong Kong unit. Citigroup faces up to $180mn in losses on a loan to the fund.
Capital Adequacy
India Infuses $6.8bn into 12 Public Sector Banks
By Editors | 21/02/2019
The Indian government has approved capital infusions into 12 public sector banks amounting to $6.8bn as part of its bank recapitalisation plan.
Capital Adequacy
PBOC Launches Bills Swap Facility for Perpetual Bonds
By Editors | 21/02/2019
The central bank bills swap will allow banks to temporarily exchange perpetual bonds for central bank bills for one year, at a rate of 0.25 percent.
Liquidity Risk
Vietnam Central Bank to Slash Reserve Requirements for Some Lenders
By Editors | 20/02/2019
The central bank proposes to halve reserve requirements for banks that assist it in restructuring ailing credit institutions.
Credit Risk
Bangladesh Bank Approval of Three New Banks Draws Criticism
By Editors | 20/02/2019
Bangladesh’s decision to approve three new banks has drawn criticism, given the rising nonperforming loans and declining governance standards in the banking sector.
Capital Adequacy
RBI to Pay $3.9bn Interim Dividend to Government
By Editors | 19/02/2019
India’s central bank will pay a $3.9bn interim dividend to the government amid pressures to transfer its surplus reserves.
Credit Risk
CBIRC Drafts New Rules for Local Government AMCs – Report
By Editors | 19/02/2019
Many local government-run AMCs have not been focused on dealing with bad loans as intended due to a lack of clarity on their business scope.
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