Featured Product

    BNM to Transfer Small Debt Resolution Scheme to AKPK

    August 14, 2020

    BNM announced transfer of the Small Debt Resolution Scheme (SDRS) function from BNM to the Credit Counselling and Management Agency (AKPK). Effective September 01, 2020, AKPK will start offering specialized solutions to help small and medium enterprises (including micro enterprises) to manage their debt and promote sound financial management practices. With this transfer, AKPK will serve as the one-stop platform for individuals and SMEs seeking debt restructuring services.

    AKPK can now provide more efficient and holistic debt restructuring and advisory services for small and medium enterprises (SMEs) that have loans with multiple banks. With the automatic moratorium period ending on 30 September 2020, SMEs still facing difficulties to service their loan obligations are urged to seek early advice on repayment assistance from their respective banks. The SDRS under AKPK is an additional avenue for SMEs to obtain help and advice on debt restructuring and rescheduling, complementing the efforts of the banking industry to provide relief to distressed SMEs. The SDRS was established by BNM in 2003 to provide assistance to viable SMEs in all economic sectors that are facing difficulties in servicing their debt with multiple financial institutions, by facilitating the restructuring or rescheduling of loans.

     

    Related Link: Press Release

     

    Keywords: Asia Pacific, Malaysia, Banking, SME, Small Debt Resolution Scheme, Credit Risk, SDRS, Debt Management Program, AKPK, Loan Moratorium, BNM

    Related Articles
    News

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    EP Reaches Agreement on Corporate Sustainability Reporting Directive

    The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).

    June 21, 2022 WebPage Regulatory News
    News

    PRA Consults on Model Risk Management Principles for Banks

    The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.

    June 21, 2022 WebPage Regulatory News
    News

    EC Regulation Amends Standards for Calculating Credit Risk Adjustments

    The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    News

    UK Authorities Issue Regulatory and Reporting Updates for Banks

    The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.

    June 15, 2022 WebPage Regulatory News
    News

    BCBS Issues Climate Risk Principles while HKMA Expresses Its Support

    The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.

    June 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8282