Resolution & Recovery

FSB Issues Draft Guidance on Assessing CCP Financial Resources

04/05/2020

Five steps are proposed for public authorities to assess the adequacy of a CCP’s financial resources to support its orderly resolution and minimise financial stability risks.

Structural Regulation

S. Korea Enhances Flexibility for Financial Investment Businesses

04/05/2020

The legislative revisions will allow firms greater flexibility to implement Chinese walls and outsource key functions, while allowing for harsher penalties when issues arise.

Cryptocurrency

FSA Japan Certifies Two SROs as New Crypto Laws Take Effect

04/05/2020

The certifications took effect from 1 May, the same day the FSA said it would start enforcing new laws on crypto assets.

Operational Risk

CBIRC Issues Directions to BOC Over Oil Losses

04/05/2020

The CBIRC has asked Bank of China to improve its risk management and to negotiate with investors in good faith over an estimated 10bn yuan in losses in its crude oil product.

Liquidity Risk

Super Funds Pay Out A$1.3b in First Week of Early Release Scheme

04/05/2020

The Association of Superannuation Funds of Australia estimates that super funds may have paid out A$7.1bn in total, including the second week of the initiative.

Structural Regulation

Malaysia SC Issues New Capital Market Advertising Guidelines

04/05/2020

Effective from 4 May, advertisers of capital markets products and services are no longer required to submit their advertisement materials to the SC for approval.

Structural Regulation

CSRC Eases Market Cap Requirement for CDR Issuance

04/05/2020

Innovative Chinese companies listed overseas will be eligible to list depositary receipts at home with just $2.8bn in market cap, compared to $28bn under 2018 rules.

Credit Risk

BNM Faces Backlash Over Revised Moratorium Guidance

03/05/2020

The initial version of BNM’s FAQs appeared to suggest that no extra interest would be charged on hire-purchase loans under deferment, but a revised illustration shows interest can accrue.

Capital Adequacy

Glass Half Full: Basel IV Presents Opportunity for Constructive Change, COVID-19 the Impetus

03/05/2020

The COVID-19 pandemic is an additional catalyst for financial institutions to generate fundamental structural change as they seek to implement Basel reforms, says AxiomSL’s Mahim Mehra.