The Consumer Financial Protection Bureau has published a final rule covering remittances transfers (Rule). The Rule imposes requirements on entities that send international money transfers on behalf of consumers.
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US federal agencies announce changes to the Community Bank Leverage Ratio
The federal bank regulators have announced the issuance of two interim final rules to provide temporary relief to community banking organizations. The rules will modify the community bank leverage -
The Bank of Lithuania issues Guidelines on Security Token Offering
The Bank of Lithuania has issued Guidelines on Security Token Offering (STO), becoming one of the first market regulators in the world to do so. The Guidelines focus on -
Central Bank of Nigeria reiterates its ban on cryptocurrencies
In a circular to banks and other regulated financial institutions, the Central Bank of Nigeria (CBN) has reiterated that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges remains prohibited -
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
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