The Office of the Comptroller of the Currency (OCC) has issued a bulletin that provides a self-assessment tool for banks to evaluate their preparedness for the expected cessation of the
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EBA proposes to further strengthen depositor protection in the EU
The European Banking Authority has published its second opinion on implementing the Deposit Guarantee Schemes Directive in the EU. The opinion focuses on payouts by deposit guarantee schemes (DGSs) -
United States: Six financial institutions fined over $6 million for reporting failures
The U.S. Commodity Futures Trading Commission (Commission) has fined six financial institutions over $6 Million for reporting failures. The sanctioned financial institutions include HSBC Bank USA, N.A., Société Générale -
Canada: FINTRAC updates its Risk Assessment Guidance
FINTRAC has updated its Risk Assessment Guidance. The update covers legislative amendments from June 2017 and legislative amendments that will come into force on June 1, 2021. Further -
Basel Committee: Guiding principles to operationalize a sectoral countercyclical capital buffer
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
December 3, 2019
United States: Use of alternative data in credit underwriting
Four U.S. federal regulatory agencies have issued the “Interagency Statement on the Use of Alternative Data in Credit Underwriting.” Developed in response to a U.S. Government Accountability Office recommendation, the statement focuses on consumer protection implications of the use of alternative data in underwriting. Through the statement, the North America
December 2, 2019
Consumer Protection: Bank of Russia discusses draft law
The Bank of Russia has indicated that the protection of retail investors in the financial market needs to be enhanced. In moving this forward, the Bank recently discussed a draft law with stakeholders in the financial services industry. Further details on the draft law are available. Europe
December 2, 2019
South Korea: National Assembly approves financial consumer protection bill
The National Assembly of South Korea has approved a financial consumer protection bill for the country. The objective of the bill is to enhance the rights of financial consumers and improve the overall public trust in the financial industry. The bill is to become effective one year from Asia & South America
December 2, 2019
Basel Committee: Guiding principles to operationalize a sectoral countercyclical capital buffer
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 complement the Basel III countercyclical capital buffer. While a bank’s additional capital requirements following the activation of the CCyB Other
December 2, 2019
Basel Committee proposes revisions to the CVA risk framework
The Basel Committee on Banking Supervision (Committee) has published a consultative document on revisions to the credit valuation adjustment (CVA) risk framework. The paper seeks the views of stakeholders on a set of limited adjustments to the CVA risk framework published in December 2017. The first set of Other