The Prudential Regulation Authority (PRA) has published a Consultation Paper (CP 21/19) on Probability of Default (PD) estimation and Loss Given Default (LGD) estimation. The PRA is seeking feedback
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South Korea: National Assembly approves financial consumer protection bill
The National Assembly of South Korea has approved a financial consumer protection bill for the country. The objective of the bill is to enhance the rights of financial consumers -
The Bahamas: Central Bank relaxes exchange controls on residential real estate transactions
The Central Bank of The Bahamas (Bank) proposes to liberalize exchange controls (EC) on residential property transactions (both purchases and sales) involving non-residents effective October 1, 2019. The EC -
The Bank of Mauritius consults on a guide for the issue of sustainable bonds
The Bank of Mauritius (Bank) has published a draft Guide for the issue of sustainable bonds (Guide). According to the regulator, the draft Guide constitutes the first step towards -
Moody’s, Transamerica and Sound Model Risk Management Framework
Introduction Financial institutions routinely use models for a broad range of activities, including underwriting credits; valuing exposures, instruments, and positions; measuring risk; managing and safeguarding client assets; determining capital
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