Credit Risk

S. Korea Tightens Lending Standards in Non-Bank Sector

03/06/2019

The FSC will extend the debt service ratio to include non-bank financial institutions in a bid to rein in household debt.

KYC & CDD

FSB Details Progress to Address Decline in Correspondent Banking

03/06/2019

The number of active correspondent banks declined by 3.4% in 2018, bringing the cumulative decline since 2011 to 19.3 percent.

Clearing & Post-Trade

Industry Body Publishes Best Practices Paper for CCPs

03/06/2019

Global association CCP12 says in a new paper that a ‘one-size-fits all’ approach to CCPs is inappropriate, and it is critical to recognise jurisdictional differences.

Cryptocurrency

ASIC Updates Guidance for ICO, Crypto-Asset Issuers

02/06/2019

The guidance tells issuers how to determine whether an ICO or crypto-asset is considered a financial product, and which Australian laws would apply.

Structural Regulation

FSC Korea Proposes More Flexible Business Conduct Rules

02/06/2019

‘Chinese walls’ at financial firms will be set up around ‘information units’ rather than ‘business units’. Firms can entrust a broader range of business to third parties and IT firms.

Anti-Money Laundering

SFC Asks Licensed Firms to Review Controls on Third-Party Deposits

01/06/2019

Senior management will be held accountable for failures to put in place effective policies, procedures and controls for handling third-party deposits and payments.

Anti-Money Laundering

Financial Crime on the Rise in APAC

31/05/2019

Almost three-quarters of Asia Pacific organisations have been victims of financial crime in the past year, according to recently published survey results by Refinitiv.

Resolution & Recovery

PBOC Sets Up AMC to Manage Deposit Insurance Fund

31/05/2019

The PBOC has reportedly established an independent entity to manage the deposit insurance fund, which was set up in 2015 and has so far accumulated 100 billion yuan.

Clearing & Post-Trade

India Delays CCP Interoperability Framework

31/05/2019

Trading members have been given one more month to develop processes that allow them to choose to clear and settle trades in other clearing corporations.