The Prudential Regulation Authority (PRA) has published its observations on the risk-weighted treatment of exposures under the Bounce Back Loan Scheme, particularly eligibility for recognition as unfunded credit risk mitigation
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US: Consultation on interest rate restrictions launches
The Federal Deposit Insurance Corporation (FDIC) has issued a Notice of Proposed Rulemaking seeking comment on proposed revisions to its regulations on interest rate restrictions applicable to insured depository institutions -
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 -
Proposed Modernization of Canada’s Unclaimed Balances Regime
Background In many jurisdictions globally, a financial asset is considered unclaimed when there has been no customer-initiated activity or contact for a certain period, usually for a few years. -
Australia: Reporting Standard ARS 117.1 Interest Rate Risk in the Banking Book
The Australian Prudential Regulation Authority (APRA) has remade the Reporting Standard ARS 117.1 Interest Rate Risk in the Banking Book (IRRBB) (ARS 117.1), which was due to expire on October
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