Latest News
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669AML / KYCChinese Banks Plan for Possible US Sanctions – Report
Editors, Regulation Asia July 10, 2020Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.
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669InternationalFSB, BCBS Suggest Supervisory Action for Slow LIBOR Work
Manesh Samtani, Regulation Asia July 10, 2020The available supervisory tools to accelerate transition at banks could include ad-hoc regulatory capital add-ons, administrative sanctions or other legal actions.
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699Hong KongHKEX Clears First HONIA-based Interest Rate Swaps
Manesh Samtani, Regulation Asia July 10, 2020The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.
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241Australia & NZASIC Directs Listed Firms to Disclose Covid-19 Impacts
Editors, Regulation Asia July 9, 2020Firms should "tell the story" of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.
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628AML / KYCRevised FATF Standards ‘Clearly Apply’ to Stablecoins
Editors, Regulation Asia July 9, 2020Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.
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476Capital Regulation
BCBS Finalises Targeted Revisions to CVA Risk Framework
Editors, Regulation Asia July 8, 2020Completion of the final adjustments to the CVA framework represents the conclusion of outstanding policy work related to the Basel III framework.
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1.0KEuropeDenmark Introduces Mandatory Data Ethics Disclosure Rule
Editors, Regulation Asia July 8, 2020From 1 January 2021, large and listed Danish companies will disclose information about their data ethics policy, AI tools and algorithms in annual reports.
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513Capital RegulationAPRA Extends Regulatory Approach For Covid-19 Loan Deferrals
Editors, Regulation Asia July 8, 2020APRA will also allow banks to treat loans restructured by 31 March 2021 as 'performing' for capital and regulatory reporting purposes.
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573AML / KYCNew York Regulator Fines Deutsche Bank for AML Failures
Editors, Regulation Asia July 8, 2020Deutsche Bank has been fined $150mn for its dealings with known sex trafficker Jeffrey Epstein and its correspondent banking relationships with Danske Bank Estonia and FBME Bank.
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1.0KAML / KYCFATF Highlights Progress to Adopt AML Standards for Virtual Assets
Manesh Samtani, Regulation Asia July 8, 202035 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.
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