US federal bank regulatory agencies have issued a final rule simplifying capital requirements for community banks by allowing them to adopt a simple leverage ratio to measure capital adequacy (leverage
-
Singapore: Guidelines on Margin Requirements for Non-Centrally Cleared OTC Derivatives Contracts
The Monetary Authority of Singapore has published guideline requirements for the margining of non-centrally cleared OTC derivatives contracts. The guidelines address key areas including the scope of products and -
Canada & Section 983 of the Bank Act: Why OSFI must Consider Reversing its Compliance Expectations
Introduction On August 11, 2017, the Office of the Superintendent of Financial Institutions (OSFI) announced it was suspending compliance expectations set out in its June 30, 2017 cover note -
Climate change: BIS launches second green bond fund for central banks
The Bank for International Settlements (BIS) has launched a euro-denominated, open-ended fund for green bond investments by central banks and official institutions. The launch follows the successful introduction of -
Banking Regulation: The Week of April 23, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1. UNITED STATES: i) The Bureau of Consumer Financial Protection – ‘Know Before You Owe’ Mortgage
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