Article
COVID-19：Updates on regulatory and supervisory responses in Asia Pacific Vol.3（as of 23 Apr）
Asia Pacific Centre for Regulatory Strategy（ACRS）
This is provided an overview on the regulatory and supervisory responses to COVID-19 in Asia Pacific since the pandemic began. Regulators in our region have responded in a number of ways and we have broken these categories up into five main categories.
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- 1. Capital
- 2. Liquidity
- 3. Provisioning, definition of default and non-performing loans (NPL)related measures
- 4. Consultations / implementation timetables
- 5. Other (reporting, stress testing, conduct, etc.)
1. Capital
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- (JP JFSA, Apr 7 & 16) Statement by the Minister for Finance, on maintaining the function of the financial system and financial markets under the declaration of a state of emergency responding to the spread of COVID-19
- (ID BI, Apr 15) Incentives for banks that provide funds for certain economic activities to support handling economic impacts due to COVID-19 outbreak
- (IN SEBI, Apr 21) Measures to further facilitate fund raising from capital markets in the backdrop of COVID-19 pandemic
2. Liquidity
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- (TH BOT, Apr 7) Measures to assist SMEs during COVID-19
- (NZ FMA, Apri 9) Expanded Large Scale Asset Purchase
- (JP JFSA, Apr 16) Notice regarding the handling of bills and cheques, etc. in consideration of the impact of the COVID-19 (novel coronavirus) infection
- (IN RBI, Apr 17) RBI lowers Liquidity Coverage Ratio
- (SG MAS, Apri 17) New Facility at interest rate of 0.1% to help banks and finance companies lower cost of loans to SMEs
- (HK HKMA, Apr 22) HKMA introduced a USD Liquidity Facility
3. Provisioning, Definition of Default and NPL-related measures
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- (SK FSC, Apr 13) FSC issues advice regarding IFRS9 application
- (HK HKMA, Apr 17) The Banking Sector Launches Pre-approved Principal Payment Holiday Scheme for Corporate Customers
4. Consultations / implementation timetables
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- (NZ FMA, Apr 9) Deferred Regulatory Initiatives
- (SG MAS, Apr 9) Virtual banking license award delay
- (AU APRA, Apr 16) APRA announces new commencement dates for prudential and reporting standards
5. Others (reporting, stress testing, conduct, etc.)
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- (SG MAS, Apr 8) MAS Launches SG$125 Million Package for Financial Institutions and FinTech Firms to Strengthen Long-Term Capabilities
- (SG MAS, Apr 9) MAS Urges Use of Digital Finance and E-Payments to Support COVID-19 Safe Distancing Measures
- (JP JFSA, Apr 10) Application of policy conditions in relation to COVID-19 Infection
- (SG MAS, Apr 13) Additional Guidance on the Conduct of General Meetings During Elevated Safe Distancing Period
- (AU APRA, Apr 17) APRA launches new data collection to support Government’s SME Guarantee Scheme
- (HK SFC, Apr 17) Circular to management companies and market makers of SFC-authorized exchange traded funds - ETF market making
- (SG MAS, Apri 17) MAS Urges Customers to Minimise Visits to Premises of Financial Institutions
- (HK SFC, Apr 21) SFC regulatory response to COVID-19
- (NZ FMA, Apr 21) Impact of COVID-19 on AML/CFT audit
- (ID OJK, Apr 22) Countercyclical Policy for Non-bank Financial Service Institutions
- (NZ FMA, Apr 22) Reminder on insider trading
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