The move will facilitate the delivery of welfare funds to beneficiaries who have no available valid IDs or transactional account with any financial institution.
April 1, 2020Given that regulatory action is driving debt rescheduling, lenders need not simply assume lifetime expected credit losses under MFRS 9 are relevant for all receivables.
March 27, 2020MAS is working with banks and insurers to see how best to help businesses and individuals with loan obligations and insurance premium payments.
March 26, 2020While 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.
March 26, 2020Money market and daily fixed income funds can obtain low-cost liquidity assistance from banks, which can in turn use fund units they buy under repurchase agreements as collateral for BOT liquidity.
March 25, 2020Credit card balances should be converted to term loans. Banks will have to maintain a minimum NSFR of 80% instead of 100% from 1 July.
March 25, 2020Australia'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.
March 20, 2020Banks aim to start active trading in SORA derivatives in the second half of the year, and SORA-based loans will launch by year-end.
March 20, 2020The central bank has directed banks to restructure repayment periods, cut interest rates, waive fees and maintain debt classifications to support borrowers.
March 19, 2020About 50% of the 6.3 quadrillion yen in notional derivatives referencing LIBOR will mature after 2021, but "very few" contracts incorporate fallback provisions.
March 16, 2020