The European Banking Authority has launched a public consultation on its proposals for a simple, transparent and standardized (STS) framework for synthetic securitization. The consultation paper examines the rationale
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Singapore: Proposed regulatory approach for derivatives contracts on payment tokens
In November 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on proposed regulatory approach under the Securities and Futures Act (SFA) for derivatives contracts that reference payment -
COVID-19: The ECB provides temporary relief for capital requirements for market risk
The European Central Bank (ECB) has announced a temporary reduction in capital requirements for market risk, by allowing banks to adjust the supervisory component of these requirements. As well -
South Africa: Treatment of restructured credit exposures due to Covid-19 Pandemic
The Prudential Authority (PA) indicates it is supportive of Covid-19 relief initiatives, such as payment holidays being offered by banks in order to provide relief to certain borrowers in the -
US Federal Regulators issue FAQs on AML Requirements
The US federal regulators have issued responses to Frequently Asked Questions regarding suspicious activity reporting and other AML considerations for financial institutions that are required to submit Suspicious Activity Reports.
September 12, 2019
Kuwait: CBK amends corporate governance rules applicable to Kuwaiti banks
The Central Bank of Kuwait has amended corporate governance rules and regulations which apply to Kuwaiti banks. The amendments, as approved, require adding independent directors to the composition of banks’ boards of directors and the board committees. Asia & South America
September 11, 2019
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 Assistance Sandbox (CAS) Policy. Regulatory uncertainty can hinder the development of innovative products and services that benefit consumers. NALs North America
September 10, 2019
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 that are less than well capitalized. These are institutions with total assets under $1 billion. The proposed rule would North America
September 10, 2019
United Kingdom: Update to Pre-Issuance Notification Requirements
The Prudential Regulation Authority (PRA) has published a consultation paper, outlining proposals for amendments to Pre-Issuance Notification (PIN) regime applicable to PRA-authorised Capital Requirements Regulation (575/2013) firms. The PRA’s PIN requirements are intended to enhance and maintain the quality of firms’ capital resources by providing the regulator with the Europe
September 10, 2019
Australia: Consultation on IRRBB Framework launches
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 117 aims to strengthen the prudential framework for interest rate risk in the banking book (IRRBB), as well as implement Oceania & Antarctica