The European Banking Authority has published its proposal for developing a simple, transparent and standardized (STS) framework for synthetic securitization. The proposal, which is limited to balance-sheet securitization, includes
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Bank of Ghana directs banks to suspend distribution of dividends
The Bank of Ghana has directed banks and the Specialised Deposit-Taking Institutions (SDIs) to suspend declaring or paying dividends or distributing reserves to shareholders. These financial institutions are also -
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 -
Canada: OSFI expectations on using Pillar II capital buffers during COVID-19 Pandemic
OSFI has announced that deposit-taking institutions can use their Pillar II capital buffers to absorb unexpected losses arising from the impact of the COVID-19 disruption. This flexibility, the regulator -
Israel: Draft guidelines for implementation of open banking standard
The Bank of Israel (Bank) has published draft guidelines for the implementation of opening banking in Israel. In order to increase transparency and access to information about the implementation,
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