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
-
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 -
Regulatory Interventions in the Banking Space: The Week of September 18, 2017
September 19, 2017: 1. United Kingdom: European Banking Authority – Consultation on significant risk transfer in securitization The European Banking Authority (EBA) launched a public consultation on its -
Finland: Strong customer authentication in online card payments deferred
Finland Financial Supervisory Authority (FIN-FSA) has indicated that it will, on a temporary basis, not impose administrative sanctions on supervised entities for not implementing strong controls to authenticate customers with -
Bank of Namibia issues a report on banking fees and charges
The Bank of Namibia has released a comprehensive report comparing different banking fees and charges by banking institutions in Namibia. The report presents a comparison of banking fees and
November 25, 2019
Mauritius: Guidelines on Complaints Handling Policy and Procedures
The Bank of Mauritius has published the Guidelines on Complaints Handling Policy and Procedures. The guidelines apply to licensed banks and non-bank deposit-taking institutions. Issued by the Ombudsperson for Financial Services, the guidelines came into effect on October 7, 2019. Photo Credit: Pixabay Africa
November 25, 2019
South African Reserve Bank to implement Basel Committee’s regulatory reforms
The South African Reserve Bank has published G6/2019. G6/2019 outlines the prudential regulator’s proposed implementation dates for various regulatory reforms introduced by the Basel Committee on Banking Supervision. Further details are available here. Photo Credit: cocoparisienne from Pixabay Africa
November 24, 2019
Nigeria: Draft guidelines for shared services arrangements for banks
The Central Bank of Nigeria has issued draft guidelines on the initiation, evaluation and pricing of shared services by banks and financial institutions. According to the regulator, the absence of standards on shared services and transfer pricing arrangements have resulted in uneven management of shared services in the banking Africa
November 22, 2019
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 be outstanding for periods of greater than 5 and 10 years. Maturity limits will be replaced by new concentration Europe
November 22, 2019
Financial Stability Board publishes 2019 G-SIB list
The Financial Stability Board (FSB) has published the 2019 list of global systemically important banks (G-SIBs). The FSB added Toronto Dominion Bank (TD) to the list of G-SIBs, making the overall number of G-SIBs increase from 29 to 30. TD’s regulator, the Office of the Superintendent of Financial Other