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Liquidity Risk
New Zealand Expands Business Finance Guarantee Scheme
By Editors | 20/08/2020
The maximum loan amount and maximum term are being increased, and more businesses will have access to the scheme, until 31 December.
Supervision & Enforcement
ASIC Launches Civil Proceedings in Two Fees-for-no-service Cases
By Sanday Chongo Kabange | 20/08/2020
ASIC has commenced ‘fees for no service’ cases against Asgard Capital Management, BT Funds Management, and StatePlus Super.
Credit Risk
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.
Credit Risk
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.
Emerging Prudential Risks
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.
Anti-Money Laundering
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.
Anti-Money Laundering
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.
Trading & Investment
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.
Data Privacy
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.
Supervision & Enforcement
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.
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