In a circular to all Deposit Money Banks in Nigeria, the Central Bank of Nigeria (CBN) has stated that charges will apply on cash deposits made in select states in
-
Canada: Prudential regulator consults on tailored capital and liquidity requirements for small banks
The Canadian prudential regulator (OSFI) has published a consultative document on advancing proportionality in the capital and liquidity regime for small and medium-sized banks. The document includes an overview -
Nigeria gazettes its Banks and Other Financial Institutions Act
Nigeria has gazetted its Banks and Other Financial Institutions Act (BOFIA), 2020. The country’s National Assembly enacted BOFIA recently. A copy of the gazette is available here. Photo -
Australia: Prudential Regulator publishes FAQs on loan repayment deferrals and residential mortgage lending
The Australian Prudential Regulation Authority (APRA) has released a set of FAQs on its expectations for regulated deposit-taking institutions during the period of disruption due to COVID-19. The FAQs -
Switzerland: Regulator publishes additional guidance in response to COVID-19
The Swiss Financial Market Supervisory Authority (FINMA) has published further guidance in response to the COVID-19 pandemic. The FINMA guidance informs supervised financial institutions about exemptions and clarifications related
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