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
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Dubai: Proposals on money services businesses
The Dubai Financial Services Authority has released Consultation Paper No. 125 – Proposals for Money Services. Stakeholders are required to provide comments on the consultation paper by December 15, -
FSB releases report on international cooperation to address COVID-19 implications
The Financial Stability Board has published a report on international cooperation and coordination to address the financial stability implications of COVID-19. The report outlines principles that underpin the official -
Malaysia: Policy document on fair treatment of financial consumers
Bank Negara Malaysia has issued a policy document on Fair Treatment of Financial Consumers. The policy document aims to foster high standards of responsible and professional conduct in a -
Finland: Strong customer authentication in online card payments deferred
Finland Financial Supervisory Authority (FIN-FSA) has indicated that it will, on a temporary basis, not impose administrative sanctions on supervised entities for not implementing strong controls to authenticate customers 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