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
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Bank of Canada to introduce a Standing Term Liquidity Facility
The Bank of Canada (Bank) has announced that it intends to introduce a new liquidity facility, the Standing Term Liquidity Facility (STLF). The STLF will complement the Bank’s -
New Zealand: Policy on banks’ reporting of breaches
The Reserve Bank of New Zealand has issued a policy on reporting and publication of breaches by banks, in an effort to improve transparency and market discipline. The policy -
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 -
Ireland: New lending rules for credit unions
The Central Bank has issued new lending rules for credit unions. The rules remove the existing lending maturity limits which cap the percentage of credit union lending which may
December 1, 2019
Regulation of Mortgage Guarantee Companies in Nigeria
The Central Bank of Nigeria has published final Regulation for the Operations of Mortgage Guarantee Companies in Nigeria (Guideline). The Guideline prescribes the basic requirements for the business of providing mortgage guarantees to mortgage lenders. It sets the capital requirements for the Mortgage Guarantee Companies (MGCs). In addition, Africa
December 1, 2019
Isle of Man: Financial Services Authority amends AML/CFT Handbook
The Finacial Services Authority has amended the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook. The regulator introduced the amendments partly to reflect the Financial Action Task Force’s statement entitled ‘Improving AML/CFT Compliance: Update on Ongoing Process.’ Full details of the amendments are available here. Europe
November 27, 2019
New Brunswick: Financial regulator launches unclaimed property program
The provincial government has introduced a new Unclaimed Property Act, which includes the creation of an unclaimed property program. The program, to be administered by the Financial and Consumer Services Commission, is expected to assist to protect New Brunswickers. It is also expected to facilitate the injection of North America
November 27, 2019
FSB: Updated regulatory framework for haircuts on OTC securities financing transactions
The Financial Stability Board has published updated regulatory framework for haircuts on certain non-centrally cleared securities financing transactions (SFTs). The framework aims to address financial stability risks associated with SFTs. The framework outlines numerical haircut floors applicable to non-bank-to-non-bank SFTs. Photo Credit: Pixabay Other