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APRA Asks ADIs, Insurers to Suspend Dividends, Cash Bonuses
By Editors | 07/04/2020
Where Boards are confident they can approve a dividend on the basis of robust stress testing results that have been discussed with APRA, it should be at a “materially reduced level”.
AML / KYC
Tiger Brokers NZ, Six Others Get Formal Warning for AML Failures
By Editors | 06/04/2020
A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.
Capital / Liquidity
New Zealand Banks Agreed to Suspend Dividends: RBNZ
By Editors | 03/04/2020
Banks have also agreed to not redeem non-CET1 capital instruments, while the RBNZ works to launch a new 3-year funding scheme by May.
APRA, RBA Announce Changes to Financial Firms’ Reporting Obligations
By Editors | 02/04/2020
The agencies are standardising quarterly reporting due dates, deferring two reporting initiatives, and introducing a new reporting standard for SME lending.
NZ Banks Get Government Guarantee on New Loans
By Editors | 02/04/2020
Business loans under a new NZ$6.25bn scheme will be supported by a government guarantee on 80% of the loan amount.
Market Infrastructure
Australia Tightens Foreign Investment Rules, Citing National Interest
By Editors | 02/04/2020
Federal approval is now required for all proposed foreign investments regardless of value or the nature of the foreign investors.
Securities / Derivatives
UPDATED – ASIC, ASX Offer Relief from Capital Raising Rules
By Editors | 01/04/2020
The relief applies to listed entities looking to offer placements, rights issues and share purchase plans as a way to urgently raise capital to mitigate the effects of Covid-19.
Securities / Derivatives
NZX Subsidiary to Assume Frontline Regulatory Functions
By Editors | 01/04/2020
The new subsidiary will be structurally separate from NZX’s commercial and operational activities and governed by a largely independent board.
RBNZ Launches New Liquidity Facility for Banks
By Editors | 31/03/2020
The facility allows banks to swap corporate paper and other asset-backed securities for cash. Banks are offering six-month deferrals on residential mortgage repayments.
Australian Banks Extend Loan Deferrals to More Businesses
By Editors | 31/03/2020
The ABA’s small business relief package will be extended to larger businesses, including commercial property landlords who agree not to terminate leases or evict tenants.
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