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
-
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 -
United States: OCC amends stress testing rule for national banks and federal savings associations
The Office of the Comptroller of the Currency has amended stress testing requirements for national banks and federal savings associations. The amendment, through a final rule, impacts stress testing -
FSB publishes UPI governance arrangements
The Financial Stability Board has published a report on the governance arrangements for the globally harmonised Unique Product Identifier (UPI). The UPI will uniquely identify the product involved in -
Canada: Consultation on policy proposals for new high-value payments system
Payments Canada is seeking feedback on policy proposals that will shape a new by-law for Canada’s new high-value payments system, Lynx. The proposals touch on key requirements including membership
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