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
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Ireland: Guidelines on preventing money laundering and countering terrorism financing published
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 -
Australia: New FAQ on Measurement of Credit Risk-Weighted Assets
The Australian Prudential Regulation Authority has published a new frequently asked question (FAQ) on how authorized deposit-taking institutions are to measure credit risk-weighted assets relating to insurance stand-by letters of -
US: Regulatory agencies simplify capital calculation for community banks
US federal bank regulatory agencies have issued a final rule simplifying capital requirements for community banks by allowing them to adopt a simple leverage ratio to measure capital adequacy (leverage -
Singapore issues Revised Guidelines to Combat Heightened Cyber Risks
The Monetary Authority of Singapore has issued revised Technology Risk Management Guidelines (Guidelines). Intended to keep pace with emerging technologies and shifts in the cyber threat landscape, the Guidelines
November 27, 2019
Citi to pay £44 million for regulatory reporting governance and controls weaknesses
The UK Prudential Regulation Authority (PRA) has imposed a combined fine of £43.9 million on Citigroup Global Markets Limited, Citibank N.A. London branch and Citibank Europe Plc UK branch (CEP UK) (together, Citi). The fine was over Citi’s failings in relation to their internal controls and governance arrangements underpinning Europe
November 27, 2019
Goldman Sachs to pay $1 million for violating CFTC’s record keeping requirements
The U.S. Commodity Futures Trading Commission (CFTC) has fined Goldman Sachs & Co. LLC (Goldman) $1 Million. The penalty was over Goldman’s failure to make and keep certain audio recordings as required under CFTC regulations for swap dealers, as detailed below. Goldman began using recording hardware to record North America
November 27, 2019
Switzerland: FINMA is set to implement small banks regime
The Swiss Financial Market Supervisory Authority (FINMA) has announced it will be implementing small banks regime (regime) starting January 1, 2020. The regime seeks to increase efficiency in regulation and supervision for small institutions. FINMA’s goal is to reduce the regulatory burden on such institutions without jeopardizing their Europe
November 25, 2019
Philippines: Monetary Board amends the definition of deposit substitutes
The Monetary Board has approved a revision to the definition of a deposit substitute. The purpose is to align with the provisions of the Bangko Sentral ng Pilipinas (BSP) Charter. Under the BSP Charter, a deposit substitute means a form of obtaining funds from the public, other than deposits, Asia & South America