The Monetary Authority of Singapore, the Association of Banks in Singapore, and the Finance Houses Association of Singapore have announced additional measures to support individuals facing financial difficulties due to
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US: CFPB issues policies to facilitate compliance and promote innovation
The Consumer Financial Protection Bureau (Bureau) has issued three new policies to promote innovation and facilitate compliance: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and the Compliance -
Canada: Consultation on policy proposals for new high-value payments system
Payments Canada is seeking feedback on policy proposals that will shape a new by-law for Canada’s new high-value payments system, Lynx. The proposals touch on key requirements including membership -
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 -
Singapore: Proposed regulatory approach for derivatives contracts on payment tokens
In November 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on proposed regulatory approach under the Securities and Futures Act (SFA) for derivatives contracts that reference payment
April 6, 2020
US federal agencies announce changes to the Community Bank Leverage Ratio
The federal bank regulators have announced the issuance of two interim final rules to provide temporary relief to community banking organizations. The rules will modify the community bank leverage ratio framework so that: beginning in the second quarter 2020 and until the end of the year, a banking organization North America
April 4, 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. Covered entities with an aggregate average notional amount (AANA) of non-centrally cleared derivatives greater than €50 billion will now Other
April 1, 2020
Canada: Capital treatment of federal programs to support COVID-19 efforts
The Office of the Superintendent of Financial Institutions (OSFI) has directed on how deposit-taking institutions (DTIs) should treat new capital they make available to small and medium-sized enterprises through recently announced government programs. The capital treatment for each program is as follows: i) Canada Emergency Business Account: DTIs North America
January 19, 2020
Canada: Prudential regulator consults on tailored capital and liquidity requirements for small banks
The Canadian prudential regulator (OSFI) has published a consultative document on advancing proportionality in the capital and liquidity regime for small and medium-sized banks. The document includes an overview of feedback that OSFI received in response to its July 2019 discussion paper. The document also outlines changes that North America