Australia

Capital / Liquidity

RBNZ Extends Mortgage Deferral Scheme Another Six Months

By Editors | 17/08/2020

The extension means banks can continue to offer temporary mortgage deferrals to their customers without the loans being treated as in default.

Capital / Liquidity

APRA, ASIC Update Guidance on Treatment of Deferred Loans

By Editors | 13/08/2020

Deferred loans need not be treated as past due or impaired for capital or reporting purposes until after 31 March. New reporting requirements will apply.

Market Infrastructure

RBNZ Announces Expansion of Large-Scale Asset Purchases

By Editors | 12/08/2020

The RBNZ has expanded its quantitative easing programme to NZ$100bn and signalled a willingness to enter negative OCR territory, in response to Covid-19 related uncertainty.

AML / KYC

Australia Police Arrest Three on Money Laundering Charges

By Editors | 12/08/2020

Two of the men are accused of laundering tens of millions of dollars for an international money laundering organisation which includes several high-value targets of Australian law enforcement.

AML / KYC

New Zealand FIU Boasts ‘Excellent Outcomes’ in June

By Editors | 12/08/2020

June saw the restraint of NZ$140mn from alleged money launderer Alexander Vinnik and the seizure of over 30 high-end cars from outlaw motorcycle gangs.

Securities / Derivatives

ASIC Issues Warning on Asset Valuations in Managed Funds

By Sanday Chongo Kabange | 12/08/2020

ASIC says it is aware that illiquid assets have been difficult to value amid the pandemic, but asserts that it is precisely in this context that valuations are most important.

Fintech / Regtech

ACCC Declines to Pursue Banks Over Screen Scraping Warnings

By Sanday Chongo Kabange | 12/08/2020

Australia’s competition watchdog says the banks’ warnings against screen scraping security risks do not constitute anti-competitive conduct.

Capital / Liquidity

APRA to Recommence Policy Work, Licensing Activity

By Editors | 10/08/2020

APRA will recommence public consultations on high-priority prudential policy reforms, and begin accepting new licence applications in September.

Market Infrastructure

Australia Unveils Cyber Security Strategy for 2020

By Editors | 06/08/2020

Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.