The Central Bank, the Financial Services Regulatory Authority of Abu Dhabi Global Market and the Dubai Financial Services Authority have issued joint guidance for banks regarding the application of IFRS
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United Kingdom: Update to Pre-Issuance Notification Requirements
The Prudential Regulation Authority (PRA) has published a consultation paper, outlining proposals for amendments to Pre-Issuance Notification (PIN) regime applicable to PRA-authorised Capital Requirements Regulation (575/2013) firms. The PRA’s -
Canada: OSFI announces Additional Regulatory Flexibility Measures in response to COVID-19 Pandemic
The Office of the Superintendent of Financial Institutions has announced further regulatory adjustments to support the financial and operational resilience of federal banks during the COVID-19 pandemic. The measures -
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 -
FSB discusses regional vulnerabilities, stablecoins and other challenges
The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Europe met recently to discuss substantial issues on global and regional financial vulnerabilities. Vulnerabilities x-rayed include incessant search for
April 21, 2020
Bank of Ghana directs banks to suspend distribution of dividends
The Bank of Ghana has directed banks and the Specialised Deposit-Taking Institutions (SDIs) to suspend declaring or paying dividends or distributing reserves to shareholders. These financial institutions are also not allowed to make irrevocable commitments regarding the declaration or payment of dividends to shareholders. The restrictions are aimed Africa
April 20, 2020
Prudential Regulation Authority publishes a set of Q&A on the usability of liquidity and capital buffers
The Prudential Regulation Authority (PRA) has published a document to answer some commonly asked questions on the usability of liquidity and capital buffers and their operation as outlined in PRA rules and guidelines. The regulator notes that the document is relevant to all banks to which the Capital Requirements Europe
April 19, 2020
COVID-19: The ECB provides temporary relief for capital requirements for market risk
The European Central Bank (ECB) has announced a temporary reduction in capital requirements for market risk, by allowing banks to adjust the supervisory component of these requirements. As well as smoothing procyclicality, the reduction aims to maintain banks’ ability to provide market liquidity and to continue market-making activities during Europe
April 18, 2020
COVID-19: Bank of Mauritius clarifies announced moratoriums on loans to borrowers
The Bank of Mauritius has clarified announced moratoriums on loans by commercial banks in the country. Aimed to combat the adverse effects of the COVID-19 pandemic, the moratoriums are deferments of repayment of capital and interest, where applicable, on loans for a specified period of time. According to Africa
April 17, 2020
OSFI issues an overview of the bank capital regime in Canada
The current economic instability caused by the COVID-19 pandemic has raised questions globally about how best to approach bank capital requirements and the resulting implications for bank dividend policies. To this extent, the Superintendent of OSFI provided an overview of the existing capital regime in Canada. This is in North America