Market Infrastructure

Capital / Liquidity

BSP Expects Sound Borrower Assessments, Forbearance Reporting

By Editors | 10/08/2020

Requirements to report forbearance granted to borrowers will ensure industry statistics reflect the “true health of the banking system” and incentivise prudence in banks’ credit decisions.

Capital / Liquidity

APRA to Recommence Policy Work, Licensing Activity

By Editors | 10/08/2020

APRA will recommence public consultations on high-priority prudential policy reforms, and begin accepting new licence applications in September.

Market Infrastructure

Malaysia Works to Enable Real-time Cross-border Payments

By Editors | 10/08/2020

A cross-border link between Singapore’s PayNow and Thailand’s PromptPay will extend to Malaysia’s DuitNow, a BNM official said.

Market Infrastructure

Taiwan to Require IT Security Enhancements at Financial Firms

By Editors | 10/08/2020

The FSC will require big financial firms to be able to restore operations within four hours after a disaster (possibly less for securities firms), among other measures.

Enforcement

Singapore’s Central Depository Fined for Data Privacy Breaches

By Editors | 10/08/2020

211 dividend cheques were sent to outdated mailing addresses, containing client names, NRIC numbers, CDP account numbers, and details of the securities held.

Market Infrastructure

Hong Kong FSDC Proposes to Allow Tax Offsets Within Group Structures

By Sanday Chongo Kabange | 10/08/2020

The proposed reforms would allow financial services groups operating in Hong Kong to offset the profits of one group company against losses in another.

Market Infrastructure

Japan Proposes Mid-2021 Cut-off on New LIBOR Loans, Bonds

By Manesh Samtani | 10/08/2020

Feedback is sought on fallbacks for cash products referencing JPY LIBOR. Under the plan, issuance of new LIBOR based loans and bonds will cease by mid-2021.

Fintech / Regtech

FSC Designates Korea’s First ‘Data Specialising Institutions’

By Editors | 09/08/2020

Korea Credit Information Services and the Financial Security Institute will be allowed to perform convergence of pseudonymised data originating from different financial businesses.

Capital / Liquidity

RBI Adopts New Measures to Ease Covid-19 Financial Stress

By Editors | 06/08/2020

A new resolution framework will allow banks to continue to maintain the ‘standard’ classification for corporate borrowers in resolution rather than downgrade the account, among other measures.