The federal bank regulators have announced the issuance of two interim final rules to provide temporary relief to community banking organizations. The rules will modify the community bank leverage
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US Federal Regulators issue FAQs on AML Requirements
The US federal regulators have issued responses to Frequently Asked Questions regarding suspicious activity reporting and other AML considerations for financial institutions that are required to submit Suspicious Activity Reports. -
Dubai: Proposals on money services businesses
The Dubai Financial Services Authority has released Consultation Paper No. 125 – Proposals for Money Services. Stakeholders are required to provide comments on the consultation paper by December 15, -
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 -
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
November 6, 2019
Czech National Bank launches FinTech contact point
The Czech National Bank (CBN) has established a FinTech contact point. In so doing, the CBN is following the lead of the European Supervisory Authorities, which already have FinTech support programs. The FinTech contact point is aimed at promoting the introduction of innovative technologies on the Czech financial Europe
November 4, 2019
US federal agencies finalize changes to resolution plan requirements
The federal agencies have finalized a rule that modifies their resolution plan requirements for larger financial firms while reducing the same requirements for smaller firms that present less financial risk to the system. The resolution plans executed by the largest firms since 2012 had improved their governance, resolution strategies North America
October 30, 2019
EBA proposes to further strengthen depositor protection in the EU
The European Banking Authority has published its second opinion on implementing the Deposit Guarantee Schemes Directive in the EU. The opinion focuses on payouts by deposit guarantee schemes (DGSs) and proposes a number of changes to the EU legal framework. The proposed changes are aimed at strengthening depositor Europe
October 29, 2019
US: Federal agencies propose rule to amend the swap margin rule
US federal agencies have proposed to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities. The swap margin rule would no longer require swap entities to hold initial margin for uncleared swaps with affiliates. Inter-affiliate transactions would still be North America
October 29, 2019
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 ratio framework). The leverage ratio framework removes requirements for calculating and reporting risk-based capital ratios for a qualifying community North America