Australia

Capital / Liquidity

APRA Unveils Initial Measures to Contain High Risk Lending

By Editors | 06/10/2021

Banks should operate with a mortgage serviceability buffer of at least 3 percentage points over the loan interest rate, and control lending at high debt-to-income ratios.

Fintech / Regtech

Australia Finalises CDR Rule Changes to Increase Participation

By Sanday Chongo Kabange | 06/10/2021

The amendments allow accredited data recipients to sponsor other parties to become accredited or allow them to operate as representatives.

Fintech / Regtech

RBNZ Issues Consultation on Potential CBDC Issuance

By Ranamita Chakraborty | 04/10/2021

A CBDC would help ensure central bank money remains relevant in a digital future, while also providing an additional monetary policy tool, the RBNZ said.

Enforcement

New Zealand: Class Action Filed Against ANZ, ASB

By Editors | 04/10/2021

The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.

AML / KYC

AFP Wins First Asset Confiscation Case Under Operation Ironside

By Editors | 01/10/2021

A$6mn in cash obtained as a result of the forfeiture order will be redistributed to support crime prevention, law enforcement and related community initiatives.

APRA Prepares Measures to Rein in Housing Loan Growth

By Sanday Chongo Kabange | 01/10/2021

APRA will publish a framework for implementing macroprudential policy to rein in the housing market and curb riskier home loans.

AML / KYC

NZ FMA Toughens Approach to AML Non-Compliance

By Manesh Samtani | 30/09/2021

The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.

Securities / Derivatives

APRA Revises Investment Governance Standards for Super Funds

By Editors | 29/09/2021

A new consultation proposes enhancements to stress testing, valuation and liquidity management practices that will take effect from 1 January 2023.

Market Infrastructure

RBA Issues Recommendations to Address Risk Issues at ASX

By Editors | 29/09/2021

The RBA has asked ASX to address operational risk and governance issues, as well as develop a framework to address margin procyclicality.