This review captures recent regulatory developments in the banking space. 1. CANADA: i) Department of Finance: Regulations Amending Certain Regulations made under the Proceeds of Crime (Money Laundering)
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Canada: OSFI announces Additional Regulatory Flexibility Measures in response to COVID-19 Pandemic
The Office of the Superintendent of Financial Institutions has announced further regulatory adjustments to support the financial and operational resilience of federal banks during the COVID-19 pandemic. The measures -
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 -
South African Reserve Bank to implement Basel Committee’s regulatory reforms
The South African Reserve Bank has published G6/2019. G6/2019 outlines the prudential regulator’s proposed implementation dates for various regulatory reforms introduced by the Basel Committee on Banking Supervision. -
United States: New rule exempts RRE transactions of $400,000 or less from appraisal requirements
The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have adopted a final rule that increases the threshold for residential real estate
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