The Monetary Board has approved a revision to the definition of a deposit substitute. The purpose is to align with the provisions of the Bangko Sentral ng Pilipinas (BSP) Charter.
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Final implementation phases of margin requirements for non-centrally cleared derivatives deferred
The Basel Committee and the International Organization of Securities Commissions have deferred the final two implementation phases of the framework for margin requirements for non-centrally cleared derivatives by one year. -
The Bank of Mauritius consults on a guide for the issue of sustainable bonds
The Bank of Mauritius (Bank) has published a draft Guide for the issue of sustainable bonds (Guide). According to the regulator, the draft Guide constitutes the first step towards -
Moody’s, Transamerica and Sound Model Risk Management Framework
Introduction Financial institutions routinely use models for a broad range of activities, including underwriting credits; valuing exposures, instruments, and positions; measuring risk; managing and safeguarding client assets; determining capital -
Australia: Regulating governance, culture, remuneration and accountability risks
The Australian Prudential Regulation Authority (APRA) plans to intensify efforts to lift standards of governance, culture, remuneration and accountability (GCRA) across the industries it regulates. APRA’s intensified approach to
September 10, 2019
Nigeria: Draft Prudential Guidelines for Development Finance Institutions
The Central Bank of Nigeria has published for comment draft Prudential Guidelines for Commercial, Merchant and Non-Interest Banks. The regulator, in June 2010, issued the revised Prudential Guidelines to deposit money banks in Nigeria as part of its efforts at enhancing the quality of banks’ assets. According to Africa
September 10, 2019
Ireland: Guidelines on preventing money laundering and countering terrorism financing published
The Central Bank of Ireland has launched Guidelines to assist regulated entities to meet their anti-money laundering and countering the financing of terrorism obligations. Speaking at the launch, Director General, Financial Conduct, Derville Rowland said firms must ‘adopt a risk-based approach to fulfilling their obligations and ensure that their Europe
September 10, 2019
Finland: Strong customer authentication in online card payments deferred
Finland Financial Supervisory Authority (FIN-FSA) has indicated that it will, on a temporary basis, not impose administrative sanctions on supervised entities for not implementing strong controls to authenticate customers with regard to their online card payments. According to FIN-FSA, the temporary exemption is to ensure seamless continuity of online Europe
September 10, 2019
Australia: APRA updates its Enforcement Approach
The Australian Prudential Regulation Authority (APRA) has updated its Enforcement Approach to provide clarity around how it plans to increase transparency and data reporting. The revised document, according to the regulator, also sets out APRA’s intention to take stronger action against institutions that fail to meet their legal obligations Oceania & Antarctica
September 10, 2019
Netherlands: Central Bank to supervise cryptocurrency firms
Firms offering services for exchange between virtual money (cryptos) and regular money, and crypto wallet providers will be subject to De Nederlandsche Bank (DNB)’s supervision effective January 10, 2020. As part of the supervision, the DNB has indicated that these firms will be required to register with it. In Europe