The Office of the Superintendent of Financial Institutions (OSFI) has issued direction on capital treatment of the recently launched Highly Affected Sectors Credit Availability Program (HASCAP). Federally regulated lenders
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Switzerland: FINMA updates Guidelines on Financial Market Regulation
The Swiss Financial Market Supervisory Authority (FINMA) has updated its Guidelines on Financial Market Regulation. The Guidelines highlight how FINMA ensures a transparent and efficient regulatory process. They reflect -
Switzerland: Regulator publishes additional guidance in response to COVID-19
The Swiss Financial Market Supervisory Authority (FINMA) has published further guidance in response to the COVID-19 pandemic. The FINMA guidance informs supervised financial institutions about exemptions and clarifications related -
FINTRAC updates its guidance on politically exposed persons
FINTRAC has updated its guidance on politically exposed persons and heads of international organizations, ongoing monitoring and business relationships. Further details are available here. Photo Credit: Pixabay -
Bank of England proposes to stress test financial stability implications of climate change
The Bank of England is consulting on its proposed framework for the 2021 Biennial Exploratory Scenario (BES) exercise, in relation to climate-related risks. The objective of the BES is
September 16, 2019
Romania: Central Bank revises rules on determining the ROBID and ROBOR reference rates
The National Bank of Romania (NBR) has revised the Rules on determining the ROBID and ROBOR reference rates. The NBR indicates that the amendments will give additional impetus to interbank money market activity and improve the price-setting mechanism. The amendments, the regulator also notes, will ensure better representativeness Europe
September 15, 2019
The Bahamas: Central Bank relaxes exchange controls on residential real estate transactions
The Central Bank of The Bahamas (Bank) proposes to liberalize exchange controls (EC) on residential property transactions (both purchases and sales) involving non-residents effective October 1, 2019. The EC relaxation would apply regardless of whether the transactions take place in the name of an entity or vehicle ultimately owned North America
September 15, 2019
Nigeria: Issuance and treatment of Bankers Acceptances and Commercial Papers
The Central Bank of Nigeria (CBN) has introduced Guidelines on the Issuance and Treatment of Bankers Acceptances (BAs) and Commercial Papers (CPs), aimed at deepening and facilitating the effective and efficient functioning of the Nigerian money market. The introduction of the guidelines, according to the regulator, will ensure uniform Africa
September 13, 2019
European Central Bank: Changes to new targeted longer-term refinancing operations
The European Central Bank has modified some of the key parameters of the third series of targeted longer-term refinancing operations (TLTRO III). The move is aimed at preserving favourable bank lending conditions, ensuring smooth functioning of the monetary policy transmission mechanism and further supporting accommodative stance of monetary policy. Europe
September 12, 2019
Australia: Consultation on ISO 20022 migration for the Australian Payments System
The Reserve Bank of Australia and the Australian Payments Council have released for consultation, ISO 20022 Migration for the Australian Payments System – Responses and Options Paper (Responses and Options Paper). This release follows the Issues Paper, published earlier in 2019, which sought views of stakeholders on the migration Oceania & Antarctica