The Central Bank of Ireland has launched Guidelines to assist regulated entities to meet their anti-money laundering and countering the financing of terrorism obligations. Speaking at the launch, Director
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Banking Regulation: The Week of April 23, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1. UNITED STATES: i) The Bureau of Consumer Financial Protection – ‘Know Before You Owe’ Mortgage -
OSFI consults on climate-related risks
OSFI has launched a three-month consultation on addressing climate-related risks in the financial sector. The consultation will be via a discussion paper, ‘Navigating Uncertainty in Climate Change: Promoting Preparedness -
Australia: Prudential regulator modernizes standard on banking credit risk management
The Australian Prudential Regulation Authority (APRA) has released an updated prudential standard on credit risk management requirements for authorised deposit-taking institutions. The updated standard addresses recommendation 1.12 from the -
COVID-19 Pandemic: Singapore provides Additional Financial Support for Individuals
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
December 5, 2019
Australia: Regulator proposes to enhance transparency around banking data
The Australian Prudential Regulation Authority (APRA) is proposing substantially increasing the volume and breadth of data it makes publicly available on authorised deposit-taking institutions (ADIs). APRA notes that the move towards greater transparency and scrutiny of the banking sector is aimed at increasing accountability, supporting competition and lifting overall Oceania & Antarctica
December 5, 2019
Israel: Draft guidelines for implementation of open banking standard
The Bank of Israel (Bank) has published draft guidelines for the implementation of opening banking in Israel. In order to increase transparency and access to information about the implementation, the Bank has established a designated portal (in Hebrew) on its website. The portal will also serve as a Europe
December 5, 2019
Canada: OSFI publishes final version of Liquidity Principles Guideline
The Office of the Superintendent of Financial Institutions (OSFI) has released the final version of Guideline B-6 on Liquidity Principles. Guideline B-6 sets out OSFI’s expectations around the management of liquidity risk for deposit-taking institutions. It complements the minimum liquidity requirements set out in the Liquidity Adequacy Requirements Guideline. North America
December 4, 2019
Canada: OSFI finalizes Guideline on Foreign Bank Branch Deposit Requirement
The Office of the Superintendent of Financial Institutions (OSFI) has published Guideline A-10: Foreign Bank Branch Deposit Requirement. Guideline A-10 addresses OSFI’s expectations with respect to the minimum deposit which authorized foreign banks must maintain in respect of their business in Canada. It establishes rules around the required North America
December 3, 2019
The Philippines: Enhanced guidelines on Peso consumer loans for overseas Filipino workers
The Monetary Board of the Philippines has approved an enhanced policy that allows banks to grant Peso consumer loans to Overseas Filipino Workers (OFWs) without Bangko Sentral ng Pilipinas (BSP)’s approval. The enhanced policy is aimed at facilitating access of OFWs to bank credit, in line with the BSP’s Asia & South America