Australia

Capital / Liquidity

RBNZ to Lower Core Funding Ratio Required of Banks

By Editors | 25/03/2020

The RBNZ will reduce the required minimum CFR from 75% to 50% to help banks make credit available for mortgage holidays and business finance guarantees.

APRA Suspends Work on New Data Collection Solution

By Editors | 24/03/2020

‘APRA Connect’ go live dates will be delayed by at least six months to allow financial institutions to concentrate on their businesses and assist customers impacted by the coronavirus.

Market Infrastructure

Australia Unveils Stage Two Economic Package Worth A$66.1b

By Editors | 23/03/2020

Including the new package, a total A$189bn is being injected into the economy by ‘all arms of the government’ to ‘help build a bridge to recovery’.

Fintech / Regtech

Singapore, Australia Agree to Promote Data Connectivity, Digital Economy

By Editors | 23/03/2020

Singapore and Australia have committed to allowing financial institutions to choose where their data is stored and prohibiting data localisation, among a raft of other agreements.

APRA, ASIC Recalibrate Regulatory Priorities to Focus on Covid-19

By Editors | 23/03/2020

APRA and ASIC have suspended the majority of their planned policy initiatives and do not plan to recommence consultation on any non-essential matters before 30 September 2020.

Capital / Liquidity

RBNZ Announces Bond Buying Programme, Other Measures

By Editors | 22/03/2020

The latest measures include a NZ$30bn bond-buying programme, a new term lending facility for banks, and additional liquidity to support funding markets.

Australia Adjusts Regulatory Settings on Responsible Lending

By Editors | 22/03/2020

Six-month exemptions from responsible lending obligations are available to lenders that provide credit to existing small business customers.

Securities / Derivatives

ASIC Grants Two Month Extension for Holding AGMs

By Editors | 22/03/2020

ASIC will take no action if AGMs of listed companies are postponed for two months, and supports the use of technology to hold virtual or hybrid meetings.

APRA, RBA Ask Financial Firms to Continue Parallel Reporting of EFS data

By Editors | 20/03/2020

The agencies explain that they wish to ensure a consistent data source for March and June 2020, in order to capture the impact of the coronavirus.