FINTRAC has updated its Risk Assessment Guidance. The update covers legislative amendments from June 2017 and legislative amendments that will come into force on June 1, 2021. Further
-
Canada & Section 983 of the Bank Act: Why OSFI must Consider Reversing its Compliance Expectations
Introduction On August 11, 2017, the Office of the Superintendent of Financial Institutions (OSFI) announced it was suspending compliance expectations set out in its June 30, 2017 cover note -
Australia: Regulating governance, culture, remuneration and accountability risks
The Australian Prudential Regulation Authority (APRA) plans to intensify efforts to lift standards of governance, culture, remuneration and accountability (GCRA) across the industries it regulates. APRA’s intensified approach to -
Australia: Regulator consults on further amendments to leverage ratio requirement
The Australian Prudential Regulation Authority (APRA) has released for consultation draft prudential standard on the leverage ratio requirement for authorised deposit-taking institutions. The consultation sets out APRA’s response to -
SRB consults on its ‘Expectations for Banks’
The Single Resolution Board (SRB) has launched a consultation on its ‘Expectations for Banks.’ The document outlines best practices on key aspects of resolvability. The document sets out the capabilities
May 2, 2020
Nigeria: Central Bank extends commencement dates for minimum capital requirements
In light of the COVID-19 pandemic, the Central Bank of Nigeria has extended by one year, commencement dates for revised minimum capital requirements for microfinance banks (MFBs) in the country. According to the prudential regulator, the revised capital requirements for the different categories of MFBs in the country will Africa
May 1, 2020
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 hopes, will assist financial institutions to continue supporting Canadians and Canada-based businesses through these extraordinary times. OSFI expects these North America
April 30, 2020
Sustainable Finance: Basel Committee reports on climate-related financial risk initiatives
The Basel Committee on Banking Supervision (Committee) has published a stocktake report on its members’ existing regulatory and supervisory initiatives on climate-related financial risks. Prepared by the Committee’s high-level Task Force on Climate-related Financial Risks (TFCR), the report suggests that the majority of Committee members are undertaking a number Other
April 29, 2020
Implementation of the Principles for Effective Risk Data Aggregation and Reporting
The Basel Committee on Banking Supervision has published its progress report on banks’ implementation of the Principles for effective risk data aggregation and reporting (Principles). Issued in 2013, the Principles aim to strengthen banks’ risk data aggregation and risk reporting with a view to improving their risk management, decision-making Other
April 23, 2020
Sustainable Finance: European Supervisory Authorities consult on ESG Disclosures
European Supervisory Authorities have issued a Consultation Paper on Environmental, Social and Governance (ESG) disclosure standards. The joint consultation paper seeks input on proposed ESG disclosure standards for financial market participants, advisers, and products. Developed under the EU Regulation on sustainability-related disclosures in the financial services sector, the Europe, Other