The Office of the Superintendent of Financial Institutions (OSFI) has published findings from consultation with deposit-taking institutions. OSFI had commissioned an independent research firm to consult with deposit-taking institution
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Most Recent Regulatory Interventions in the Banking Space
…a compilation of banking regulatory developments across the globe. September 5, 2017: 1. Switzerland: Financial Standard Board – Key Attributes of Effective Resolution Regimes for Financial Institutions -
US: CFPB issues policies to facilitate compliance and promote innovation
The Consumer Financial Protection Bureau (Bureau) has issued three new policies to promote innovation and facilitate compliance: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and the Compliance -
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 -
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
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