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Structural Regulation
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.
Operational Risk
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.
Credit Risk
Australian Banks Announce Small Business, Home Loan Relief
By Editors | 20/03/2020
Australia’s big four banks have each announced reductions in their lending rates, as well as the availability of deferrals of small business and home loan repayments.
Payments & Settlements
Fed Establishes FX Swap Lines with Nine Central Banks
By Editors | 19/03/2020
Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.
Liquidity Risk
RBA, APRA Free Up Liquidity, Capital Buffers for Banks
By Editors | 19/03/2020
New measures include an interest rate cut, a bond-buying programme, a term lending facility for banks, and relaxed expectations on bank capital ratios.
Structural Regulation
FMA, NZX Announce Support Measures for Listed Companies
By Editors | 19/03/2020
The measures include higher capital raising capacity for issuers, a two month extension for financial reporting, and delays for some regulatory work.
Conduct, Culture & Accountability
Australia: SocGen Securities Unit Charged for Client Money Rule Breaches
By Editors | 19/03/2020
Societe Generale Securities Australia self-reported three matters over 2017 and 2018, and has completed all remediation actions in relation to its operational set-up.
Structural Regulation
AMP Units Pay ASIC Penalties for Trade Reporting Failures
By Editors | 18/03/2020
The AMP entities failed to report information about over 1,000 derivatives transactions and to correctly report collateral information about over 19,000 transactions over several years.
Capital Adequacy
RBNZ to Delay Work on Regulatory Initiatives
By Editors | 18/03/2020
The move is aimed at reducing the regulatory burden on FIs, freeing up RBNZ and industry resources, and supporting the economy amid the coronavirus outbreak.
Capital Adequacy
New Zealand Announces NZ$12.1b Economic Stimulus Package
By Editors | 17/03/2020
New Zealand has announced a NZ$12.1bn economic rescue package in response to the novel coronavirus outbreak.
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