The Swiss Financial Market Supervisory Authority (FINMA) has updated its Guidelines on Financial Market Regulation. The Guidelines highlight how FINMA ensures a transparent and efficient regulatory process. They reflect
-
Basel Committee: Report on open banking and application programming interfaces
The Basel Committee on Banking Supervision (Basel Committee) has published its Report on open banking and application programming interfaces (APIs). The report monitors the evolving trend of open banking -
Financial Institutions Regulation: Major Developments This Week
…regulatory developments across the globe this week that may be of interest. REGULATORY CHANGES 1. Switzerland: Pillar 3 Disclosure Requirements – Regulatory Treatment of Accounting Provisions The -
United Kingdom: Bank of England publishes financial sector resilience exercise findings
The Bank of England (BoE) has published high level findings of financial sector cyber simulation exercise that took place in November 2018. Commissioned by the Cross Market Operational Resilience -
Canada: Prudential regulator consults on tailored capital and liquidity requirements for small banks
The Canadian prudential regulator (OSFI) has published a consultative document on advancing proportionality in the capital and liquidity regime for small and medium-sized banks. The document includes an overview
February 21, 2021
FINTRAC updates its guidance on politically exposed persons
FINTRAC has updated its guidance on politically exposed persons and heads of international organizations, ongoing monitoring and business relationships. Further details are available here. Photo Credit: Pixabay North America
February 21, 2021
IsDB and ITFC sign agency agreement to support COVID-19 Restore Program
The Islamic Development Bank and the International Islamic Trade Finance Corporation have signed an agency agreement to facilitate the implementation of COVID-19 Restore Program. The program will be implemented through provision of trade finance and line of finance operations in member countries. The agreement also aims to further Asia & South America
February 16, 2021
Bank of Canada researches digital currency options
The Bank of Canada (Bank) is researching potential system designs and business models for a digital currency. In 2020, the Bank engaged three independent project teams to conduct exploratory design work. All three design proposals, coming from the University of Calgary, McGill University, and the University of Toronto and North America
February 10, 2021
LIBOR Transition: US regulator publishes a self-assessment tool for banks
The Office of the Comptroller of the Currency (OCC) has issued a bulletin that provides a self-assessment tool for banks to evaluate their preparedness for the expected cessation of the London InterBank Offered Rate (LIBOR). The OCC indicates the tool can be used to assess the appropriateness of a North America