Australia

Capital / Liquidity

APRA Defers Basel III Capital Reforms by One Year

By Editors | 30/03/2020

The move will allow ADIs to dedicate time and resources to maintaining their operations and supporting customers, APRA says.

New Zealand Delays New Financial Advice Regime

By Editors | 27/03/2020

The new regime will be deferred until at least March 2021, allowing financial advisers to focus on helping their clients, staff and families during “this difficult time”, the FMA says.

Australia: Super Funds Seek Liquidity Backstop Facility

By Editors | 27/03/2020

The government will allow individuals in financial stress to access superannuation savings, but may have underestimated the ability of super funds to meet withdrawals.

Market Infrastructure

ASX to Delay Implementation of CHESS Replacement

By Editors | 25/03/2020

ASX will launch a public consultation in June on a new timetable for its CHESS replacement project, amid uncertainty created by the coronavirus pandemic.

Capital / Liquidity

RBNZ to Lower Core Funding Ratio Required of Banks

By Editors | 25/03/2020

The RBNZ will reduce the required minimum CFR from 75% to 50% to help banks make credit available for mortgage holidays and business finance guarantees.

APRA Suspends Work on New Data Collection Solution

By Editors | 24/03/2020

‘APRA Connect’ go live dates will be delayed by at least six months to allow financial institutions to concentrate on their businesses and assist customers impacted by the coronavirus.

Market Infrastructure

Australia Unveils Stage Two Economic Package Worth A$66.1b

By Editors | 23/03/2020

Including the new package, a total A$189bn is being injected into the economy by ‘all arms of the government’ to ‘help build a bridge to recovery’.

Fintech / Regtech

Singapore, Australia Agree to Promote Data Connectivity, Digital Economy

By Editors | 23/03/2020

Singapore and Australia have committed to allowing financial institutions to choose where their data is stored and prohibiting data localisation, among a raft of other agreements.

APRA, ASIC Recalibrate Regulatory Priorities to Focus on Covid-19

By Editors | 23/03/2020

APRA and ASIC have suspended the majority of their planned policy initiatives and do not plan to recommence consultation on any non-essential matters before 30 September 2020.