The Bank of Canada (Bank) is researching potential system designs and business models for a digital currency. In 2020, the Bank engaged three independent project teams to conduct exploratory
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New reporting requirements: FINTRAC’s implementation delivery schedule
FINTRAC has published a delivery schedule for the implementation of new reporting obligations related to the amended Regulations that will come into force on June 1, 2021. The schedule -
New AML rules for private businesses in British Columbia
Effective May 1, 2020, amendments to B.C. Business Corporations Act will require private businesses in the province to keep and maintain transparency records of beneficial owners. Information to be -
Regulatory Interventions in the Banking Space: October 17 – 23, 2017
…a compilation of most recent banking regulatory developments from around the world. October 23, 2017: 1. United States: Federal Deposit Insurance Corporation, the Federal Reserve System, and the
October 22, 2019
Bank of Mauritius ratifies MoU on banking supervision
The Bank of Mauritius and the Bank Al-Maghrib have signed a Memorandum of Understanding (MoU) on banking supervision. The MoU establishes a collaborative framework to facilitate the sharing of supervisory information and documents. The MoU also addresses substantive issues with any bank operating in the home and the Africa
October 21, 2019
The Netherlands: Banks to hold more capital for their mortgage portfolios
The DNB has indicated it will introduce a floor for risk weights of domestic mortgage loan portfolios of Dutch banks. According to the regulator, the floor will increase with the loan to value ratio of the underlying mortgage loans. Due to this proposed measure, the risk weights of mortgage Europe
October 21, 2019
Regulator clarifies forex trading in Namibia
The Bank of Namibia has clarified forex trading in Namibia. According to the regulator, the exchange or conversion of the Namibia Dollar into any foreign currency is regulated to control the use of Namibia’s foreign currency reserves in the best interest of the economy. Further details are available Africa
October 21, 2019
British Columbia: Proposed changes to Financial Institutions Framework
The Government of British Columbia has proposed changes to the Financial Institutions Act (FIA) and the Credit Union Incorporation Act (CUIA). The changes are aimed at modernizing the legislative framework, better protecting consumers and helping to maintain public confidence in the province’s financial institutions. The proposed amendments to North America
October 20, 2019
Financial Stability Board reports on Market Fragmentation
Financial Stability Board (FSB) has updated on its work on market fragmentation. In its earlier update, in June 2019, the FSB had identified four key areas to address market fragmentation. The areas are deference, pre-positioning of capital and liquidity, regulatory and supervisory coordination and information-sharing, and market fragmentation Other