Market Infrastructure

Capital / Liquidity

Hong Kong IA Proposes New Capital Rules for Insurance Groups

By Manesh Samtani | 24/08/2020

The rules set out capital, regulatory reporting and public disclosure requirements that apply to insurance groups where the holding company is incorporated in Hong Kong.

Enforcement

ASIC Takes Former ANZ Unit to Court Over Cybersecurity Failures

By Sanday Chongo Kabange | 24/08/2020

ASIC is seeking orders requiring RI Advice Group to pay a civil penalty and ensure it implements systems to adequately manage cyber risk.

Capital / Liquidity

China: Top Court Cuts Private Lending Rates Nationwide

By Editors | 23/08/2020

Private lenders can charge a maximum four times the one-year loan prime rate. Based on the current rate, the maximum lending rate is 15.4%, compared to 24% previously.

AML / KYC

ISO Sets Standard for Embedding LEIs in Digital Certificates

By Editors | 22/08/2020

Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.

Market Infrastructure

Eximbank Issues South Korea’s First SOFR-linked Bonds

By Editors | 20/08/2020

State lender Eximbank is the first financial institution in South Korea and the third in Asia to issue SOFR-linked bonds.

ESG / Sustainability

Taiwan FSC Unveils Green Finance Action Plan 2.0

By Lucy Zhang | 20/08/2020

The action plan seeks to promote green and sustainable financial markets, improve ESG disclosures, and establish a classification standard for the financial industry.

Market Infrastructure

The Case for a Central Lending Platform in Singapore

By Irene Liu | 20/08/2020

Not enough SMEs are taking advantage of government supported loan programmes, in part due to the onerous processes involved in accessing them, say PwC’s Irene Liu and Shierly Mondianti.

Market Infrastructure

MAS Becomes First Asian Government Entity to Issue RFR Debt

By Manesh Samtani | 19/08/2020

Singapore is seen to be leading Asia in its preparation for the cessation of LIBOR at the end-of 2021. Earlier this month, MAS announced new initiatives to catalyse SORA markets.

Big Picture

Asian Central Banks Fear Return of USD Funding Stress

By Editors | 19/08/2020

Trade frictions, a resurgence of Covid-19 infection rates, and rising corporate insolvency and credit rating downgrades could prompt renewed US dollar funding stress, says a new report.