The Reserve Bank of New Zealand has issued a policy on reporting and publication of breaches by banks, in an effort to improve transparency and market discipline. The policy
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Mauritius: Guidelines on Complaints Handling Policy and Procedures
The Bank of Mauritius has published the Guidelines on Complaints Handling Policy and Procedures. The guidelines apply to licensed banks and non-bank deposit-taking institutions. Issued by the Ombudsperson for -
Bank of Namibia issues a report on banking fees and charges
The Bank of Namibia has released a comprehensive report comparing different banking fees and charges by banking institutions in Namibia. The report presents a comparison of banking fees and -
Banks and Financial Institutions Regulation
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) -
Banking Regulation & Developments: The Week of April 30, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1) UNITED STATES The Office of the Comptroller of the Currency – Appraisal Threshold for Commercial
October 1, 2019
New Zealand: Reserve Bank releases independent analysis of Capital Review
The Reserve Bank has released three independent international experts’ assessments of its Capital Review. The proposals aim to protect the public from the personal, social, and economic impacts of a potential bank failure. The independent experts were required to consider the analysis and advice underpinning the proposals. The Oceania & Antarctica
October 1, 2019
United States: Six financial institutions fined over $6 million for reporting failures
The U.S. Commodity Futures Trading Commission (Commission) has fined six financial institutions over $6 Million for reporting failures. The sanctioned financial institutions include HSBC Bank USA, N.A., Société Générale International Limited, Bank of New York Mellon, and The Northern Trust Company. In addition to reporting failures, the regulator North America
September 29, 2019
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 transactions requiring an appraisal from $250,000 to $400,000. The rule incorporates the appraisal exemption for rural residential properties provided North America
September 29, 2019
United Kingdom: Bank of England publishes financial sector resilience exercise findings
The Bank of England (BoE) has published high level findings of financial sector cyber simulation exercise that took place in November 2018. Commissioned by the Cross Market Operational Resilience Group, jointly chaired by BoE and UK Finance, the exercise explored the financial sector’s resilience to a major cyber incident Europe
September 25, 2019
Australia: Reporting Standard ARS 117.1 Interest Rate Risk in the Banking Book
The Australian Prudential Regulation Authority (APRA) has remade the Reporting Standard ARS 117.1 Interest Rate Risk in the Banking Book (IRRBB) (ARS 117.1), which was due to expire on October 1, 2019. The new reporting standard has updated references to APS 117 Capital Adequacy: Interest Rate Risk in the Oceania & Antarctica