The US Justice Department (Department) this week announced a policy against piling on – repeated punishments by multiple enforcement authorities for the same misconduct that may exceed what is necessary
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The Bank of Mauritius consults on a guide for the issue of sustainable bonds
The Bank of Mauritius (Bank) has published a draft Guide for the issue of sustainable bonds (Guide). According to the regulator, the draft Guide constitutes the first step towards -
The Philippines: Enhanced guidelines on Peso consumer loans for overseas Filipino workers
The Monetary Board of the Philippines has approved an enhanced policy that allows banks to grant Peso consumer loans to Overseas Filipino Workers (OFWs) without Bangko Sentral ng Pilipinas (BSP)’s -
South Korea: National Assembly approves financial consumer protection bill
The National Assembly of South Korea has approved a financial consumer protection bill for the country. The objective of the bill is to enhance the rights of financial consumers -
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
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