The Basel Committee on Banking Supervision (Committee) has published guiding principles to operationalize a sectoral countercyclical capital buffer (SCCyB). The SCCyB is a tool that can be used to
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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 Netherlands: Banks to hold more capital for their mortgage portfolios
The DNB has indicated it will introduce a floor for risk weights of domestic mortgage loan portfolios of Dutch banks. According to the regulator, the floor will increase with -
South Africa: Treatment of restructured credit exposures due to Covid-19 Pandemic
The Prudential Authority (PA) indicates it is supportive of Covid-19 relief initiatives, such as payment holidays being offered by banks in order to provide relief to certain borrowers in the -
Australia: Regulator consults on further amendments to leverage ratio requirement
The Australian Prudential Regulation Authority (APRA) has released for consultation draft prudential standard on the leverage ratio requirement for authorised deposit-taking institutions. The consultation sets out APRA’s response to
January 8, 2020
United States: Financial regulators release accountability report on fintech initiatives
The Conference of State Bank Supervisors has published an accountability report on financial technology companies (fintechs) initiatives. The report outlines progress made on a series of initiatives to streamline state licensing and supervision of fintechs. A copy of the report can be accessed here. Photo Credit: Pixabay North America
January 7, 2020
Bank of England proposes data reforms across the UK financial sector
The Bank of England has published a discussion paper, “Transforming data collection from the UK financial sector.” The paper is aimed at improving the timeliness and effectiveness of data collection from firms across the UK financial system. The paper outlines issues facing the current data collection system. It Europe
December 23, 2019
Central Bank of Nigeria issues Consumer Protection Framework
The Central Bank of Nigeria has issued Consumer Protection Framework (Framework) for the financial services industry. The Framework is aimed at enhancing consumer confidence in the industry and promoting financial stability, growth and innovation. The CBN requires regulated institutions to develop policies, to be approved by their respective Africa
December 23, 2019
Arab Monetary Fund consults on Digital Identity and e-KYC Guidelines
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 provide comments on the draft guidelines by January 20, 2020. Further details are available here. Photo Credit: Pixabay Asia & South America
December 23, 2019
FSB report: risks to financial stability from LIBOR transition must reduce
The Financial Stability Board (FSB) has published its annual progress report on the implementation of recommendations to reform major interest rate benchmarks. The report outlines the risks to financial stability from continued reliance on London Interbank Offered Rate (LIBOR) beyond 2021. It sets out progress on implementing related FSB Other