Australia

Fintech / Regtech

Australia’s High Value Clearing System Has Adopted ISO 20022

By Mark Johnston | 25/03/2024

The transition was one of the “largest and most complex programmes of work AusPayNet has undertaken to date in-house,” said CEO Andy White.

Capital / Liquidity

Kiwibank is Best Placed to Disrupt NZ Banking Oligopoly

By Ranamita Chakraborty | 25/03/2024

New Zealand’s Commerce Commission says Kiwibank is the best placed among the non-big-four banks to be a “disruptive competitor”.

AML / KYC

Australia: Queensland Passes New Law to Curb Money Laundering at Casinos

By Sanday Chongo Kabange | 22/03/2024

Casinos will be restricted from accepting more than a prescribed amount of cash from a person for gambling related transactions in a 24-hour period.

ESG / Sustainability

ASIC to Develop Climate Reporting Guidance for Small Businesses

By Manesh Samtani | 20/03/2024

Scope 3 requirements for larger businesses mean small businesses may come into scope, even if they do not have direct climate reporting obligations.

Capital / Liquidity

RBNZ Assesses Initial Impacts of New Bank Capital Framework

By Manesh Samtani | 20/03/2024

All NZ banks met their capital requirements over the previous two years. Costs of capital broadly in line with initial estimates. No evidence of financial market disruptions.

Capital / Liquidity

APRA Paper Offers Justification for Lower IRB Risk Weights

By Manesh Samtani | 18/03/2024

APRA explains why the difference in risk-weights for housing lending between IRB and standardised banks is appropriate.

AML / KYC

Australia: ACCC Report Shows Scam Losses Are Declining

By Sanday Chongo Kabange | 18/03/2024

Report says scam losses in Q4 2023 almost halved compared to the same quarter in 2022, largely due to a sharp decline in investment scams.

Capital / Liquidity

RBNZ Publishes “Proportionality Framework” for New DTA Regime

By Sanday Chongo Kabange | 15/03/2024

The Proportionality Framework sets out how the RBNZ will categorise deposit takers for the purposes of developing standards.

Market Infrastructure

Australia: More Guidance Issued to Support FAR Implementation

By Editors | 15/03/2024

On top of guidance for banks, APRA and ASIC issued a consultation on FAR implementation for insurance and superannuation entities.