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Capital Adequacy
New Zealand Banks Agreed to Suspend Dividends: RBNZ
By Editors | 03/04/2020
Banks have also agreed to not redeem non-CET1 capital instruments, while the RBNZ works to launch a new 3-year funding scheme by May.
Operational Risk
APRA, RBA Announce Changes to Financial Firms’ Reporting Obligations
By Editors | 02/04/2020
The agencies are standardising quarterly reporting due dates, deferring two reporting initiatives, and introducing a new reporting standard for SME lending.
Credit Risk
NZ Banks Get Government Guarantee on New Loans
By Editors | 02/04/2020
Business loans under a new NZ$6.25bn scheme will be supported by a government guarantee on 80% of the loan amount.
Structural Regulation
Australia Tightens Foreign Investment Rules, Citing National Interest
By Editors | 02/04/2020
Federal approval is now required for all proposed foreign investments regardless of value or the nature of the foreign investors.
Structural Regulation
UPDATED – ASIC, ASX Offer Relief from Capital Raising Rules
By Editors | 01/04/2020
The relief applies to listed entities looking to offer placements, rights issues and share purchase plans as a way to urgently raise capital to mitigate the effects of Covid-19.
Structural Regulation
NZX Subsidiary to Assume Frontline Regulatory Functions
By Editors | 01/04/2020
The new subsidiary will be structurally separate from NZX’s commercial and operational activities and governed by a largely independent board.
Liquidity Risk
RBNZ Launches New Liquidity Facility for Banks
By Editors | 31/03/2020
The facility allows banks to swap corporate paper and other asset-backed securities for cash. Banks are offering six-month deferrals on residential mortgage repayments.
Credit Risk
Australian Banks Extend Loan Deferrals to More Businesses
By Editors | 31/03/2020
The ABA’s small business relief package will be extended to larger businesses, including commercial property landlords who agree not to terminate leases or evict tenants.
KYC & CDD
RBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown
By Editors | 30/03/2020
Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
Capital Adequacy
APRA Defers Basel III Capital Reforms by One Year
By Editors | 30/03/2020
The move will allow ADIs to dedicate time and resources to maintaining their operations and supporting customers, APRA says.
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