The U.S. Commodity Futures Trading Commission (Commission) has fined six financial institutions over $6 Million for reporting failures. The sanctioned financial institutions include HSBC Bank USA, N.A., Société Générale
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South Africa: Treatment of restructured credit exposures due to Covid-19 Pandemic
The Prudential Authority (PA) indicates it is supportive of Covid-19 relief initiatives, such as payment holidays being offered by banks in order to provide relief to certain borrowers in the -
Financial Stability Board publishes 2019 G-SIB list
The Financial Stability Board (FSB) has published the 2019 list of global systemically important banks (G-SIBs). The FSB added Toronto Dominion Bank (TD) to the list of G-SIBs, making -
Bank of Mauritius ratifies MoU on banking supervision
The Bank of Mauritius and the Bank Al-Maghrib have signed a Memorandum of Understanding (MoU) on banking supervision. The MoU establishes a collaborative framework to facilitate the sharing of -
Netherlands: Central Bank to supervise cryptocurrency firms
Firms offering services for exchange between virtual money (cryptos) and regular money, and crypto wallet providers will be subject to De Nederlandsche Bank (DNB)’s supervision effective January 10, 2020.
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