Securities / Derivatives

HK Govt Under Fire for ‘False’ Justification of Broker Subsidies

03/05/2020

Average daily market turnover jumped 54.5% in Q1 2020 compared to Q4 2019, which has led to a corresponding increase in brokerage revenues and profits.

Capital / Liquidity

Legacy Systems, Poor Data Quality Hindering BCBS 239 Adoption

29/04/2020

Some banks have changed their BCBS 239 implementation strategies to comprehensively improve data quality, but this will take considerable time to resolve.

Capital / Liquidity

Banks Sufficiently Capitalised to Pay Dividend, says RBA Governor

22/04/2020

Australian banks are well-capitalised and have the ability to pay dividends, says RBA governor Philip Lowe. ANZ, Westpac and NAB are reportedly engaging with APRA on the issue.

Capital / Liquidity

HKMA Introduces USD Facility, Postpones Supervisory Stress Tests

22/04/2020

$10bn will be available to banks under the USD liquidity facility. The stress tests are being postponed to 2021 to free up banks’ operational capacity.

AML / KYC

US Agencies Issue Alert on North Korea Cyber Threat

22/04/2020

The advisory highlights the powers US agencies have to subpoena foreign FIs that maintain a correspondent bank account in the US to gain access to customer records stored overseas.

Big Picture

Taken Too Far, Banking Policy Relaxations Could Backfire

16/04/2020

In a new paper, the BIS’s Fernando Restoy and Claudio Borio offer three important principles to guide the assessment of Covid-19 related policy adjustments.

The ‘Great Lockdown’, A Crisis Like No Other: IMF

15/04/2020

The IMF estimates the cumulative loss to global GDP over 2020 and 2021 to be around $9tr, which is greater than the economies of Japan and Germany combined.

Securities / Derivatives

Banks Scrap Dividends, Buybacks Amid Regulatory Pressure

02/04/2020

HSBC and Standard Chartered are among the banks that have scrapped their 2019/2020 dividends and agreed not to buy back shares.

Big Picture

Short-selling Bans Fail to Achieve Positive Effects: WFE

31/03/2020

In Asia, South Korea, Malaysia and Indonesia have imposed short-selling bans, while Thailand, Taiwan and India have tightened their rules to make the practice more difficult.