In November 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on proposed regulatory approach under the Securities and Futures Act (SFA) for derivatives contracts that reference payment
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Bank of England proposes data reforms across the UK financial sector
The Bank of England has published a discussion paper, “Transforming data collection from the UK financial sector.” The paper is aimed at improving the timeliness and effectiveness of data -
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 -
Australia: Consultation on capital treatment of government guaranteed mortgages
The Australian Prudential Regulation Authority (APRA) has released for consultation its proposed revision to the capital treatment for eligible mortgages covered by the Government’s First Home Loan Deposit Scheme (FHLDS). -
Regulator clarifies forex trading in Namibia
The Bank of Namibia has clarified forex trading in Namibia. According to the regulator, the exchange or conversion of the Namibia Dollar into any foreign currency is regulated to
April 17, 2020
COVID-19: Bank of Uganda issues credit relief measures to mitigate economic impacts
The Bank of Uganda has introduced credit relief measures to mitigate the adverse effects of the COVID-19 pandemic. The relief measures are also aimed at promoting financial and operational resilience during these exceptional times. The measures include repayment holidays for a maximum of 12 months, loan tenor extensions, and Africa
April 17, 2020
Iceland: Central Bank finalizes agreement on guarantee of supplemental loans to businesses
The Central Bank of Iceland and the Ministry of Finance and Economic Affairs have sealed an agreement on Treasury guarantees of credit institutions’ supplemental lending to businesses in response to the COVID-19 pandemic. The scheme aims to support companies that are severely impacted by the coronavirus pandemic and the Europe
April 16, 2020
Canada: OSFI releases FAQs on COVID-19 Related Regulatory Measures
Since the COVID-19 pandemic, OSFI has announced a series of regulatory measures to support the financial and operational resilience of federal banks. The prudential regulator has now published a suite of FAQs that addresses common questions on the recently announced measures. OSFI notes that it will update the North America
April 16, 2020
Central Bank of Kenya publishes Credit Reference Bureau Regulations
The Central Bank of Kenya (CBK) has published the Credit Reference Bureau Regulations, 2020 (CRB Regulations). Replacing the Credit Reference Bureau Regulations, 2013, the CRB Regulations authorize the CBK to license and supervise Credit Reference Bureaus. The Regulations provide a framework for the exchange of borrowers’ credit information Africa
April 15, 2020
FSB releases report on international cooperation to address COVID-19 implications
The Financial Stability Board has published a report on international cooperation and coordination to address the financial stability implications of COVID-19. The report outlines principles that underpin the official regulatory community’s rapid and coordinated response to support the real economy, maintain financial stability and minimize the risk of market Other