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APRA

Aussie IM Phase 4 double whammy

Bill: More work for Phase 4 UMR, if we're unlucky.


Opinions obviously vary, but for me there are very few opportunities to be glad not to be Australian. Here is one for already punch-drunk IM lawyers and compliance personnel. The largest four banks in New Zealand are Australian-owned- ANZ, ASB, BNZ and Westpac. New Zealand is not a G20 member and has therefore been (relatively) […]

Hong Kong joins the rush to slow down WGMR compliance

The Hong Kong Monetary Authority (HKMA) yesterday announced its 6 month “transitional period” (read- delay) to the application of its non-cleared margin rules. The HKMA has taken the same approach as Singapore’s MAS, expecting covered entities to “to begin exchanging margin as soon as practicable”. Unlike both Singapore and Australia, the HKMA does not have […]

Singapore and Australia finalise VM compliance

To rephrase the old complaint- you wait for ages for a WGMR update then two arrive at once. The MAS in Singapore and the APRA in Australia have today issued revised and final timelines for compliance with their respective non-cleared margin rulesets. The APRA announced that Prudential Standard CPS 226 Margining and risk mitigation for […]