Australia

Capital / Liquidity

APRA Says Loan Deferrals Need Not be Treated as Arrears

By Editors | 20/07/2021

Banks will not need to treat the period of deferral being offered by banks to borrowers as a period of arrears or a loan restructuring.

Market Infrastructure

Australia Issues Consultation on Financial Accountability Regime

By Sanday Chongo Kabange | 20/07/2021

The FAR will not impose civil penalty liability on accountable persons, a shift from the government’s position in a January 2020 consultation.

ACCC Wary of Potential NAB Bid for Citigroup Unit

By Editors | 18/07/2021

NAB is in talks about a possible acquisition of Citigroup’s Australian retail banking business. The ACCC says it is paying close attention.

AML / KYC

NZ FMA Issues New Guidance on Electronic ID Verification

By Editors | 18/07/2021

A new Explanatory Note identifies electronic sources of information that reporting entities can use for identity verification.

ASIC Proposes Additional Guidance on Litigation Funding

By Ranamita Chakraborty | 17/07/2021

ASIC proposes to grant relief from the equal treatment duty to enable the effective distribution of a resolution sum obtained in a class action.

RBNZ Abruptly Announces End to Quantitative Easing

By Editors | 15/07/2021

The bond-buying programme was originally scheduled to run until June 2022. The RBNZ says the programme is no longer necessary for monetary policy purposes.

Capital / Liquidity

APRA Proposes Banks Maintain Higher Self-securitised Assets

By Editors | 15/07/2021

APRA proposes that banks maintain at least 30 percent of their LCR Net Cash Outflows in self-securitised assets, separate from that used as collateral for the CLF.

AML / KYC

New Zealand to Update AML/CFT Regulations

By Editors | 14/07/2021

Reporting entities will have to conduct customer due diligence on nominee directors and nominee general partners of companies, among other changes.

APRA Wants Banks to Be Ready for Potential Negative Rates

By Ranamita Chakraborty | 14/07/2021

APRA proposes to introduce new expectations for banks requiring them to prepare for scenarios where interest rates fall to zero or turn negative.