The Central Bank of Egypt has introduced measures to offset the impact of COVID-19. These measures include: i) cutting interest rates; ii) deferring all credit dues for all customers
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Canada: OSFI expectations on using Pillar II capital buffers during COVID-19 Pandemic
OSFI has announced that deposit-taking institutions can use their Pillar II capital buffers to absorb unexpected losses arising from the impact of the COVID-19 disruption. This flexibility, the regulator -
Banking Regulation: The Week of April 23, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1. UNITED STATES: i) The Bureau of Consumer Financial Protection – ‘Know Before You Owe’ Mortgage -
Financial Services Authority as single real estate regulator in British Columbia
The BC Financial Services Authority (BCFSA) has taken its first steps toward becoming the single regulator for real estate. As the single regulator, a change expected to assist in -
Basel Committee: Guiding principles to operationalize a sectoral countercyclical capital buffer
The Basel Committee on Banking Supervision (Committee) has published guiding principles to operationalize a sectoral countercyclical capital buffer (SCCyB). The SCCyB is a tool that can be used to
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