The Reserve Bank of Australia and the Australian Payments Council have released for consultation, ISO 20022 Migration for the Australian Payments System – Responses and Options Paper (Responses and Options
-
COVID-19: Bank of Mauritius clarifies announced moratoriums on loans to borrowers
The Bank of Mauritius has clarified announced moratoriums on loans by commercial banks in the country. Aimed to combat the adverse effects of the COVID-19 pandemic, the moratoriums are -
New Zealand: Policy on banks’ reporting of breaches
The Reserve Bank of New Zealand has issued a policy on reporting and publication of breaches by banks, in an effort to improve transparency and market discipline. The policy -
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 -
Bank of England proposes to stress test financial stability implications of climate change
The Bank of England is consulting on its proposed framework for the 2021 Biennial Exploratory Scenario (BES) exercise, in relation to climate-related risks. The objective of the BES is
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