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
-
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 -
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 -
Malta: MFSA addresses ICT risk and cybersecurity
The Malta Financial Services Authority has issued the third volume of ‘The Nature and Art of Financial Supervision’ series, focusing on information and communications technology risk (ICT), and cybersecurity supervision.
April 7, 2020
Singapore: Measures to help regulated institutions focus on supporting customers
The Monetary Authority of Singapore (MAS) will adjust selected regulatory requirements and supervisory programs in response to the COVID-19 pandemic. According to MAS, the adjustment is designed to enable banks to focus on dealing with issues related to the pandemic and supporting their customers during this period. The Asia & South America
April 7, 2020
Switzerland: Regulator publishes additional guidance in response to COVID-19
The Swiss Financial Market Supervisory Authority (FINMA) has published further guidance in response to the COVID-19 pandemic. The FINMA guidance informs supervised financial institutions about exemptions and clarifications related to the regulator’s supervisory practice in the context of the COVID-19 crisis. Photo Credit: Pixabay Europe
April 7, 2020
Australia: Regulator issues guidance on capital management to deposit-taking institutions
The Australian Prudential Regulation Authority has released guidance on capital management by regulated deposit-taking institutions during the COVID-19 pandemic. During this period, the regulator expects these institutions to limit discretionary capital distributions in the months ahead, including deferrals or prudent reductions in dividends. Photo Credit: Pixabay Oceania & Antarctica
April 6, 2020
Botswana: Guidance on the regulatory treatment of IFRS 9 in the context of COVID-19
The Bank of Botswana has released two circulars to address IFRS 9 requirements during the COVID-19 pandemic. The first circular is on Guidance on the Regulatory Treatment of IFRS 9 in the Context of COVID-19. The second circular focuses on an amendment of the Revised Directive on International Convergence Africa
April 6, 2020
United Arab Emirates: Guidance for banks on the application of IFRS 9 during COVID-19 Pandemic
The Central Bank, the Financial Services Regulatory Authority of Abu Dhabi Global Market and the Dubai Financial Services Authority have issued joint guidance for banks regarding the application of IFRS 9 during the COVID-19 pandemic. Further details are available here. Photo Credit: Pixabay Asia & South America