Article
COVID-19：Updates on regulatory and supervisory responses in Asia Pacific Vol.5（as of 21 May）
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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- (AU APRA, 18 May) Banking COVID-19 Market Risk FAQ published by APRA
2. Liquidity
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- (TW FSC, 13 May) FSC announces measures to respond to COVID-19 pandemic and mitigate impact of global financial volatility on domestic securities markets
3. Provisioning, Definition of Default and NPL-related measures
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- (SK FSC, 27 Apr) Deferment of principal payment available for vulnerable debtors
- (NZ RBNZ, 30 Apr) Reserve Bank removes LVR restrictions for 12 months
4. Consultations / implementation timetables
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- (AU ASIC/Treasury, 16 Apr) ASIC defers commencement of mortgage broker reforms and design and distribution obligations / Update on the implementation of the Banking, Superannuation and Financial Services Royal Commission
5. Others (reporting, stress testing, conduct, etc.)
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- (JP JFSA, 8 May) Financial support to the property owners who have cash shortage due to delayed rent collection/Allowance to the rent on the property/ Allowance to the payment from the credit card member stores
- (NZ FMA, 12 May) What we can expect from financial reports in light of COVID-19
- (NZ RBNZ, 13 May) Large Scale Asset Purchases expanded
- (SG MAS, 13 May) New S$ 6 Million Grant Scheme to Support Singapore FinTech Firms
- (AU ASIC, 13 May) ASIC to further extend financial reporting deadlines for listed and unlisted entities and amends ‘no action’ position for AGMs
- (SK FSC, 13 May) Reporting deadline extended for financial companies' overseas branches
- (CH CBIRC, 14 May) CBIRC Holds Meeting of the Solvency Supervisory Committee
- (IN SEBI, 15 May) Relaxation in timelines for compliance with regulatory requirements
- (SG MAS, 19 May) Safe Re-Opening of More Customer Services in the Financial Sector
- (IN SEBI, 20 May) Advisory on disclosure of material impact of COVID-19 pandemic on listed entities under SEBI
- (NZ FMA, 20 May) What can users of auditor reports expect from auditor reports in response to the impact of COVID-19
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