Business continuity plans, social distancing measures, economic stimulus and liquidity constraints are hindering banks’ abilities to stay consistent with regulators' expectations, says Peter Guy.
MAS projects the ongoing wave of Covid-19 outbreaks will continue to dampen global growth beyond the first half of the year.
Central banks need to channel their US dollar liquidity towards preventing global supply chains from unravelling, says BIS general manager Agustín Carstens.
Lower risk sensitivity on SME loans under the Basel III credit risk framework will raise capital adequacy ratios at banks, allowing them to provide additional funding to businesses.
The move is expected to help stabilise US dollar funding markets, after the BOK signed a $60bn currency swap agreement with the US Federal Reserve earlier this month.
BNM is allocating an additional 4 billion ringgit to its financing facilities for SMEs and lowering interest rates to help them sustain their operations and preserve jobs.
The move will allow ADIs to dedicate time and resources to maintaining their operations and supporting customers, APRA says.
The two US banks have approval to raise their stakes in their securities joint ventures to 51%. On 1 April, foreign ownership caps for securities firms and fund managers will be scrapped entirely.
The Limited Partnership Fund Bill will be seen by PE industry stakeholders as a positive step towards bringing Hong Kong’s active PE market onshore, says international law firm Deacons.
The implementation date of the outstanding Basel III standards will be deferred by one year to 1 January 2023 to free up operational capacity for banks and supervisors.