The Prudential Regulation Authority (PRA) has published a document to answer some commonly asked questions on the usability of liquidity and capital buffers and their operation as outlined in PRA
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European Central Bank consults on Climate-related and Environmental Risks
The European Central Bank (ECB) has issued a consultation on its draft Guide on Climate-related and Environmental Risks (Guide). Current prudential rules require European banks to identify, manage, and -
Finland: Updated guidelines on management of operational risk
The FIN-FSA Financial Supervisory Authority has updated Regulations and Guidelines 8/2014 Management of Operational Risk in supervised entities of the financial sector. The updated guidelines cover incident reporting of -
United States: CFPB Issues Final Remittance Rule
The Consumer Financial Protection Bureau has published a final rule covering remittances transfers (Rule). The Rule imposes requirements on entities that send international money transfers on behalf of consumers. -
Banks and Financial Institutions Regulation
A snapshot of recent regulatory developments in the banking space is set out below. 1. CANADA: Department of Finance: Consultations on the Review of the Canadian Payments Act
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