Payments Canada is seeking feedback on policy proposals that will shape a new by-law for Canada’s new high-value payments system, Lynx. The proposals touch on key requirements including membership
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Central Bank of Morocco to introduce a new risk-free rate
Bank Al-Maghrib plans to reform its new risk-free rate – the London Inter-bank Offered Rate. The bank is also considering the launch of a new money market benchmark in Morocco. -
United Kingdom: PRA consults on outsourcing and third party risk management
The Prudential Regulation Authority (PRA) is inviting comments on its proposals to modernize the regulatory framework on outsourcing and third-party risk management. The proposals are outlined in the draft -
Malta Government grants six months moratorium on loan repayments
Malta’s Minister for Public Health, in consultation with the Minister for Finance and Financial Services, has issued Moratorium on Credit Facilities Regulations in Exceptional Circumstances (Directive). The Directive mandates -
Prudential Regulation Authority publishes a set of Q&A on the usability of liquidity and capital buffers
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
November 17, 2019
FSB discusses regional vulnerabilities, stablecoins and other challenges
The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Europe met recently to discuss substantial issues on global and regional financial vulnerabilities. Vulnerabilities x-rayed include incessant search for better yield and continued pressures on the profitability of European banks. During the meeting, the RCG members discussed interest Other
November 13, 2019
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 current tools for the provision of liquidity and will strengthen its role as lender of last resort. Under the North America
November 12, 2019
US: Wells Fargo fined over $14 Million for swap requirements violation
The Commodity Futures Trading Commission (CFTC) has sanctioned Wells Fargo Bank, N.A. for violating swap dealer business conduct standards. CFTC noted that Wells Fargo failed to deal with a counterparty in a fair and balanced manner based on principles of fair dealing and good faith. The bank also North America
November 12, 2019
Financial Services Authority as single real estate regulator in British Columbia
The BC Financial Services Authority (BCFSA) has taken its first steps toward becoming the single regulator for real estate. As the single regulator, a change expected to assist in combating money laundering, the BCFSA will take responsibility for real estate licensing, conduct, investigations, and discipline. Since 2016, the North America
November 11, 2019
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 network and information security breaches. The guidelines also address fraud reporting concerning payment services. The document outlines certain European Banking Europe