The Eurosystem central banks – the 19 national central banks of the euro area countries and the European Central Bank – have defined a common stance for applying sustainable and
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Sustainable Finance: European Supervisory Authorities consult on ESG Disclosures
European Supervisory Authorities have issued a Consultation Paper on Environmental, Social and Governance (ESG) disclosure standards. The joint consultation paper seeks input on proposed ESG disclosure standards for financial -
Belarus: National Bank approves a legal framework for carrying out rating activities
The National Bank of the Republic of Belarus (National Bank) has approved Regulation on the Procedures for Organizing and Carrying out Rating Activities (Regulation). The Regulator similarly approved Requirements -
Basel Committee: Guiding principles to operationalize a sectoral countercyclical capital buffer
The Basel Committee on Banking Supervision (Committee) has published guiding principles to operationalize a sectoral countercyclical capital buffer (SCCyB). The SCCyB is a tool that can be used to -
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
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