The Arab Monetary Fund (AMF) has published Digital Identity and e-KYC Guidelines in the Arab Region for public consultation. Prepared by AMF’s Regional FINTECH Working Group, stakeholders are to
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South Korea: Margin requirements for non-centrally cleared derivatives
The Financial Services Commission (FSC) has postponed implementation of margin requirements for non-centrally cleared derivatives by one year. The postponement, noted the FSC, is aimed at easing compliance burdens -
Netherlands: Central Bank to supervise cryptocurrency firms
Firms offering services for exchange between virtual money (cryptos) and regular money, and crypto wallet providers will be subject to De Nederlandsche Bank (DNB)’s supervision effective January 10, 2020. -
Final implementation phases of margin requirements for non-centrally cleared derivatives deferred
The Basel Committee and the International Organization of Securities Commissions have deferred the final two implementation phases of the framework for margin requirements for non-centrally cleared derivatives by one year. -
US federal agencies finalize changes to resolution plan requirements
The federal agencies have finalized a rule that modifies their resolution plan requirements for larger financial firms while reducing the same requirements for smaller firms that present less financial risk
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