…a compilation of most recent banking regulatory developments from around the world. October 23, 2017: 1. United States: Federal Deposit Insurance Corporation, the Federal Reserve System, and the
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Switzerland: FINMA is set to implement small banks regime
The Swiss Financial Market Supervisory Authority (FINMA) has announced it will be implementing small banks regime (regime) starting January 1, 2020. The regime seeks to increase efficiency in regulation -
India: Reserve Bank consults on Guidelines for Payment Gateways and Payment Aggregators
The Reserve Bank of India (Reserve Bank) has published a discussion paper on ‘Guidelines for Payment Gateways and Payment Aggregators.’ The discussion paper seeks public comments on comprehensive guidelines -
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. -
Bank of Canada publishes Financial System Review for 2020
The Bank of Canada has published its Financial System Review (FSR) for 2020. The FSR focuses exclusively on COVID-19 impact on the Canadian financial system. It details the results
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