BaFin has reduced the countercyclical buffer rate to zero percent effective April 1, 2020. According to the regulator, the rate reduction is aimed to strengthen the resilience of the
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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. -
Report on Fintech Adoption in Hong Kong Banking Industry
The Hong Kong Institute for Monetary and Financial Research has published a report on Fintech penetration in Hong Kong. Titled “Fintech Adoption and Innovation in the Hong Kong Banking -
OSFI issues an overview of the bank capital regime in Canada
The current economic instability caused by the COVID-19 pandemic has raised questions globally about how best to approach bank capital requirements and the resulting implications for bank dividend policies. -
United States: Agencies finalize changes to simplify Volcker Rule
The U.S. federal financial regulatory agencies have finalized revisions to simplify compliance requirements relating to the “Volcker rule.” By statute, the Volcker rule generally prohibits banking entities from engaging
January 30, 2021
OSFI: Assessment of regulatory capital models
OSFI has published a document on capital models assessment. The document outlines key principles and processes OSFI applies for assessing internal models financial institutions intend to use for regulatory capital purposes (capital models). The capital models relate to the measurement of credit, market and counterparty credit risk for the North America
January 30, 2021
Malta: MFSA addresses ICT risk and cybersecurity
The Malta Financial Services Authority has issued the third volume of ‘The Nature and Art of Financial Supervision’ series, focusing on information and communications technology risk (ICT), and cybersecurity supervision. In addition to providing background on ICT risk and cybersecurity, the document covers applicable legal and regulatory framework, and Europe
January 28, 2021
Managing climate-related risks in Canada
Earlier today, Ben Gully, Assistant Superintendent (Regulation Sector) OSFI spoke to the work the prudential regulator is doing to create the basis for sound prudential decisions on climate-related risks. In his remarks, the Assistant Superintendent noted OSFI focus as being the prudential impact of climate change in terms of North America
January 27, 2021
Capital treatment of Canada’s Highly Affected Sectors Credit Availability Program
The Office of the Superintendent of Financial Institutions (OSFI) has issued direction on capital treatment of the recently launched Highly Affected Sectors Credit Availability Program (HASCAP). Federally regulated lenders are to treat HASCAP loans as a sovereign exposure based on the Business Development Bank of Canada (BDC) guarantee. They North America
January 25, 2021
Climate change: BIS launches second green bond fund for central banks
The Bank for International Settlements (BIS) has launched a euro-denominated, open-ended fund for green bond investments by central banks and official institutions. The launch follows the successful introduction of a first BIS green bond fund denominated in US dollars in September 2019. The European Central Bank has already announced Europe