In a circular to all Deposit Money Banks in Nigeria, the Central Bank of Nigeria (CBN) has stated that charges will apply on cash deposits made in select states in
-
Canada: OSFI finalizes Guideline on Foreign Bank Branch Deposit Requirement
The Office of the Superintendent of Financial Institutions (OSFI) has published Guideline A-10: Foreign Bank Branch Deposit Requirement. Guideline A-10 addresses OSFI’s expectations with respect to the minimum deposit -
New reporting requirements: FINTRAC’s implementation delivery schedule
FINTRAC has published a delivery schedule for the implementation of new reporting obligations related to the amended Regulations that will come into force on June 1, 2021. The schedule -
Malta Government grants six months moratorium on loan repayments
Malta’s Minister for Public Health, in consultation with the Minister for Finance and Financial Services, has issued Moratorium on Credit Facilities Regulations in Exceptional Circumstances (Directive). The Directive mandates -
Banking: Recent Regulatory Developments
…a review of recent regulatory developments across the globe. REGULATORY CHANGES i) Canada: Advisory Committee on Open Banking The Government of Canada launched Advisory Committee on Open
April 15, 2020
Australia: APRA extends Initial Margin Requirements for Non-centrally Cleared Derivatives Commencement Dates
The Australian Prudential Regulation Authority (APRA) has deferred by one year the commencement dates for the final two phases of the initial margin requirements for non-centrally cleared derivatives. The extension follows last month’s announcement that APRA was suspending the majority of its planned policy and supervision initiatives in response Oceania & Antarctica
April 14, 2020
Malta Government grants six months moratorium on loan repayments
Malta’s Minister for Public Health, in consultation with the Minister for Finance and Financial Services, has issued Moratorium on Credit Facilities Regulations in Exceptional Circumstances (Directive). The Directive mandates licensed credit and financial institutions to offer a six-month moratorium on repayments on capital and interest to borrowers who have Europe
April 14, 2020
NCUA publishes Cybersecurity Considerations for Remote Work
In light of the COVID-19 pandemic, the National Credit Union Administration has published a Risk Alert, ‘Cybersecurity Considerations for Remote Work.’ Applicable to federally insured credit unions, the Risk Alert highlights cybersecurity best practices for credit unions that leverage employees’ personal networks and devices. You can find the North America
April 13, 2020
New York Fed releases updated FAQs for Commercial Paper Funding Facility
The New York Fed has released updated frequently asked questions for its Commercial Paper Funding Facility (CPFF). The regulator has also added a sign-up for the CPFF daily purchase rates webpage, which will go live when the facility launches tomorrow, April 14. You can find the details here. North America
April 10, 2020
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 focus primarily on capital adequacy requirements for these institutions as well as changes in their reporting requirements. Key measures North America