The US Justice Department (Department) this week announced a policy against piling on – repeated punishments by multiple enforcement authorities for the same misconduct that may exceed what is necessary
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South African Reserve Bank to implement Basel Committee’s regulatory reforms
The South African Reserve Bank has published G6/2019. G6/2019 outlines the prudential regulator’s proposed implementation dates for various regulatory reforms introduced by the Basel Committee on Banking Supervision. -
Nordic-Baltic countries engage the IMF on the region’s AML/CTF Risks
The Nordic-Baltic countries have requested the International Monetary Fund to analyze the most pertinent money laundering/terrorist financing (ML/TF) risks in the region. The request is due to the ML/TF -
UK’s Climate Financial Risk Forum publishes guide on addressing climate-related risks
The Climate Financial Risk Forum has published a guide to help firms address climate-related financial risks. The guide provides recommendations on disclosure of climate-related financial risks; effective risk management; -
FSB: Updated regulatory framework for haircuts on OTC securities financing transactions
The Financial Stability Board has published updated regulatory framework for haircuts on certain non-centrally cleared securities financing transactions (SFTs). The framework aims to address financial stability risks associated with
April 10, 2020
Australia: Feedback on Financial Institutions’ Preparation for LIBOR Transition
In May 2019, the Australian Securities and Investments Commission (ASIC) wrote to the CEOs of selected major Australian financial institutions regarding the end of the London Interbank Offered Rate (LIBOR). The initiative – supported by the Australian Prudential Regulation Authority, and the Reserve Bank of Australia – requested information Oceania & Antarctica
April 9, 2020
HM Treasury and Bank of England extend Ways and Means Facility
HM Treasury and the Bank of England (the Bank) have agreed to extend temporarily the use of the government’s long-established Ways and Means (W&M) facility. As a temporary measure, this will provide a short-term source of additional liquidity to the government, if needed, during the pandemic. The W&M Europe
April 8, 2020
The European Central Bank introduces package of temporary collateral easing measures
The European Central Bank (ECB) has adopted a package of temporary collateral easing measures to facilitate the availability of eligible collateral for Eurosystem counterparties to participate in liquidity providing operations. The package is complementary to the ECB’s other recent measures, including additional longer-term refinancing operations and the Pandemic Emergency Europe
April 8, 2020
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 entities, margin calculations and methodologies, and eligible collateral and haircuts. Photo Credit: Pixabay Asia & South America
April 7, 2020
South Africa: Treatment of restructured credit exposures due to Covid-19 Pandemic
The Prudential Authority (PA) indicates it is supportive of Covid-19 relief initiatives, such as payment holidays being offered by banks in order to provide relief to certain borrowers in the retail sector in an effort to mitigate the impact of the pandemic. To further drive home its support, the Africa