The Bank of Canada (Bank) has announced that it intends to introduce a new liquidity facility, the Standing Term Liquidity Facility (STLF). The STLF will complement the Bank’s
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Canada: FINTRAC updates its guidance on customer verification requirements
FINTRAC has updated its guidance on methods to verify the identity of an individual and confirm the existence of a corporation or an entity other than a corporation. The requirements -
Botswana: Guidance on the regulatory treatment of IFRS 9 in the context of COVID-19
The Bank of Botswana has released two circulars to address IFRS 9 requirements during the COVID-19 pandemic. The first circular is on Guidance on the Regulatory Treatment of IFRS -
Central Bank of Nigeria issues Consumer Protection Framework
The Central Bank of Nigeria has issued Consumer Protection Framework (Framework) for the financial services industry. The Framework is aimed at enhancing consumer confidence in the industry and promoting -
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
October 9, 2019
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 in proprietary trading or investing in or sponsoring hedge funds or private equity funds. Under the revised rule, firms North America
October 9, 2019
FSB publishes UPI governance arrangements
The Financial Stability Board has published a report on the governance arrangements for the globally harmonised Unique Product Identifier (UPI). The UPI will uniquely identify the product involved in over-the-counter (OTC) derivatives transactions reported to trade repositories. This will help authorities to aggregate data on OTC derivatives transactions by Other
October 3, 2019
United States: OCC amends stress testing rule for national banks and federal savings associations
The Office of the Comptroller of the Currency has amended stress testing requirements for national banks and federal savings associations. The amendment, through a final rule, impacts stress testing requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The final rule revises the minimum threshold for North America
October 2, 2019
Qatar: QFC Regulatory Authority consults on corporate governance rules
The QFC Regulatory Authority has published for consultation, draft Governance and Controlled Functions Rules 2019 (Governance Rules). The draft Governance Rules will replace the Governance and Controlled Functions Rules 2012 and the Guide to Corporate Governance for QFC authorized firms. According to the regulator, ‘the draft Governance Rules Asia & South America
October 2, 2019
United States: Federal agencies update management interlock rules
The U.S. bank regulatory agencies have finalized updates to the management interlock rules. Previously, the management interlock rules prohibited a management official working at a depository institution or holding company with more than $2.5 billion in total assets from simultaneously working at an unaffiliated depository organization with more than North America