The Australian Prudential Regulation Authority (APRA) has commenced a second consultation on requirements in Prudential Standard APS 117 Capital Adequacy: Interest Rate Risk in the Banking Book (IRRBB). APA
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COVID-19 Pandemic: Singapore provides Additional Financial Support for Individuals
The Monetary Authority of Singapore, the Association of Banks in Singapore, and the Finance Houses Association of Singapore have announced additional measures to support individuals facing financial difficulties due to -
Regulation of Mortgage Guarantee Companies in Nigeria
The Central Bank of Nigeria has published final Regulation for the Operations of Mortgage Guarantee Companies in Nigeria (Guideline). The Guideline prescribes the basic requirements for the business of -
Ireland: Central Bank launches guidance on enforcement sanctions
The Central Bank of Ireland has published a new guide to sanctions imposed under the Administrative Sanctions Procedure (ASP) for the financial services sector. The ASP Sanctions Guidance increases -
Isle of Man: Financial Services Authority amends AML/CFT Handbook
The Finacial Services Authority has amended the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook. The regulator introduced the amendments partly to reflect the Financial Action Task
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