Financial Stability Board (FSB) has updated on its work on market fragmentation. In its earlier update, in June 2019, the FSB had identified four key areas to address market
-
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. -
COVID-19: Bank of Uganda issues credit relief measures to mitigate economic impacts
The Bank of Uganda has introduced credit relief measures to mitigate the adverse effects of the COVID-19 pandemic. The relief measures are also aimed at promoting financial and operational resilience -
United Kingdom: PRA consults on Probability of Default and Loss Given Default Estimation
The Prudential Regulation Authority (PRA) has published a Consultation Paper (CP 21/19) on Probability of Default (PD) estimation and Loss Given Default (LGD) estimation. The PRA is seeking feedback -
Malaysia: Policy document on fair treatment of financial consumers
Bank Negara Malaysia has issued a policy document on Fair Treatment of Financial Consumers. The policy document aims to foster high standards of responsible and professional conduct in a
July 21, 2019
Banking: Recent Regulatory Developments
…a review of recent regulatory developments across the globe. REGULATORY CHANGES i) Canada: Advisory Committee on Open Banking The Government of Canada launched Advisory Committee on Open Banking (Committee). The Committee, according to the Government, is the first step in a review of potential merits of open Africa, Asia & South America
July 21, 2019
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 and reserve adequacy; and many other activities. Given the increasing regularity with which financial institutions deploy models, it is Other
July 21, 2019
Financial Institutions Regulation: Major Developments This Week
…regulatory developments across the globe this week that may be of interest. REGULATORY CHANGES 1. Switzerland: Pillar 3 Disclosure Requirements – Regulatory Treatment of Accounting Provisions The Basel Committee on Banking Supervision released a technical amendment on additional Pillar 3 disclosure requirements for jurisdictions implementing an expected Africa, Asia & South America, Europe, North America
July 21, 2019
Proposed Modernization of Canada’s Unclaimed Balances Regime
Background In many jurisdictions globally, a financial asset is considered unclaimed when there has been no customer-initiated activity or contact for a certain period, usually for a few years. After this period, a designated body takes over custody of the unclaimed asset. The body administers a central registry through Other
July 21, 2019
Banks and Financial Institutions Regulation
This review captures recent regulatory developments in the banking space. 1. CANADA: i) Department of Finance: Regulations Amending Certain Regulations made under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2018 The Department of Finance published draft amendments to regulations under the Proceeds of Crime Africa, Asia & South America, Europe, North America, Oceania & Antarctica