Liquidity Risk

ECB Launches €750b Emergency Asset Purchase Programme

20/03/2020

The ‘Pandemic Emergency Purchase Programme’ will include purchases of public and private securities, including non-financial commercial paper and Greek sovereign bonds, until end-2020.

Credit Risk

Australian Banks Announce Small Business, Home Loan Relief

20/03/2020

Australia’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.

Anti-Money Laundering

MAS Penalises Trust Company for AML/CFT Failings

20/03/2020

TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.

Trading & Investment

BOJ Carries Out Emergency Operations to Curb Bond Volatility

20/03/2020

The 1.3 trillion yen emergency bond-buying operation to was aimed at stabilising the debt market given its recent volatility, the BOJ  said.

Liquidity Risk

BNM Cuts Statutory Reserve Requirement for Banks

20/03/2020

BNM has lowered the SRR ratio to the lowest level since April 2011, and is allowing principal dealers to recognise MGS and MGII up to 1 billion ringgit as part of SRR compliance.

Structural Regulation

SGX RegCo Offers Guidance on Holding General Meetings

20/03/2020

Measures include segregating attendees across various venues, adopting digital tools to conduct general meetings, and a 250-person limit at any given venue.

Trading & Investment

Singapore Steering Committee Publishes SORA Transition Roadmap

19/03/2020

Banks aim to start active trading in SORA derivatives in the second half of the year, and SORA-based loans will launch by year-end.

Fraud, Scams & Cybercrime

MAS Bans Six Individuals for Fraud and Dishonest Conduct

19/03/2020

The first five individuals abused their clients’ trust for their personal gain and the last evaded taxes. All six also received prison sentences.

Payments & Settlements

Fed Establishes FX Swap Lines with Nine Central Banks

19/03/2020

Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.