Featured Product

    FSC Taiwan Amends TLAC Rules, Issues Other Regulatory Updates

    February 03, 2022

    The Financial Supervisory Commission of Taiwan (FSC Taiwan) Issued regulatory updates on amending the total loss-absorbing capacity (TLAC) rules, lending measures in response to pandemic, and on compliance with the money laundering legislation. FSC Taiwan published an Order to amend the implementation schedule for regulatory capital rules with respect to the TLAC debt instruments issued by global systemically important banks. The Order entered into force on January 13, 2022.

    With respect to the lending measures, FSC Taiwan is requesting domestic banks to strengthen their lending programs and plans to provide guarantee to the domestic banks for granting loans to small and medium enterprises (SMEs) in the specified six core strategic industries. In addition, FSC Taiwan held a meeting with the Ministry of Finance and the Association of Banks wherein it was agreed that banks will cooperate to provide an extension of repayment period for personal debt of those affected by the pandemic. Earlier, FSC Taiwan had decided to extend the timeline for COVID-19-related payment deferrals from the end of December 2021 to the end of June 2022. 

    Additionally, FSC Taiwan announced the list of virtual currency platform operators that have completed the compliance statement for the prevention of money laundering. FSC Taiwan explained that, out of the 16 firms that submitted declarations of compliance with the Money Laundering Prevention Act, 13 firms will be required to make corrections to the declarations within a specified time. In accordance with the “measures for the prevention of money laundering and combating terrorism funding for virtual currency platforms and trading business enterprises,” platform operators shall complete the money laundering prevention laws and regulations in accordance with the documents, materials, and methods designated by FSC Taiwan. FSC Taiwan also called on the operators who set up bitcoin vending machines to submit a statement of compliance with the Money Laundering Prevention Act.


    Related Links (in Chinese)


    Keywords: Asia Pacific, Banking, Payment Deferrals, Covid 19, Lending, Loan Repayment, Credit Risk, AML CFT, ML TF Risk, TLAC, Regulatory Capital, Basel, Reporting, Cryptocurrency, G-SIBs, SME, FSC Taiwan

    Featured Experts
    Related Articles

    CFPB Finalizes Rule on Small Business Lending Data Collection

    The Consumer Financial Protection Bureau (CFPB) published a final rule that sets out data collection requirements on small business lending, under section 1071 of the Dodd-Frank Act.

    March 30, 2023 WebPage Regulatory News

    BCBS to Consult on Pillar 3 Climate Risk Disclosures by End of 2023

    The Bank for International Settlements (BIS) published a summary of the recent Basel Committee (BCBS) meetings.

    March 23, 2023 WebPage Regulatory News

    FINMA Approves Merger of Credit Suisse and UBS

    The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.

    March 21, 2023 WebPage Regulatory News

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    US Congress Report Examines Data Privacy and Cybersecurity Regulations

    The U.S. Congressional Research Service published a report on banking, data privacy, and cybersecurity regulation.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    EU to Conduct One-Off Scenario Analysis to Assess Transition Risk

    The European authorities recently made multiple announcements that impact the banking sector.

    March 10, 2023 WebPage Regulatory News

    APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.

    March 07, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8810