Given that regulatory action is driving debt rescheduling, lenders need not simply assume lifetime expected credit losses under MFRS 9 are relevant for all receivables.
South Korean authorities will also reduce the amount of high-quality foreign assets banks need to hold to free up additional US dollar liquidity.
An investor used share financing facilities from two banks and third-party trading accounts procured by three brokers to manipulate the price of Sky One Holdings shares.
Banks are "strongly encouraged" to avail themselves of MAS liquidity facilities so that they can better serve customers.
Without a delay, smaller entities will almost certainly be shut out of the derivatives market, denying them the ability to manage risk when they need it most, says ISDA chief Scott O'Malia.
MAS is working with banks and insurers to see how best to help businesses and individuals with loan obligations and insurance premium payments.
An investigation that started in 2017 found irregularities with the funding Asia Yangon Bank planned to use to meet its paid-up capital requirements.
While end-2021 remains the firm target date for all firms to meet, interim transition milestones in some of the less prepared segments such as loan markets may be affected.
MAS, SGX RegCo and ACRA expect all issuers to comply with the Ministry of Health’s mandatory safe distancing measures. Legislative amendments will be introduced.
ZA Bank - backed by mainland insurer ZhongAn Online P&C Insurance and Sinolink Group - won one of the first approvals to set up a virtual bank in March last year.