The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have adopted a final rule that increases the threshold for residential real estate
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FSB report: risks to financial stability from LIBOR transition must reduce
The Financial Stability Board (FSB) has published its annual progress report on the implementation of recommendations to reform major interest rate benchmarks. The report outlines the risks to 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 -
NCUA publishes Cybersecurity Considerations for Remote Work
In light of the COVID-19 pandemic, the National Credit Union Administration has published a Risk Alert, ‘Cybersecurity Considerations for Remote Work.’ Applicable to federally insured credit unions, the Risk -
Australia: Consultation on ISO 20022 migration for the Australian Payments System
The Reserve Bank of Australia and the Australian Payments Council have released for consultation, ISO 20022 Migration for the Australian Payments System – Responses and Options Paper (Responses and Options
July 21, 2019
Banks and Financial Institutions Regulation
A snapshot of recent regulatory developments in the banking space is set out below. 1. CANADA: Department of Finance: Consultations on the Review of the Canadian Payments Act Last Friday, the Department of Finance (DoF) launched consultations to seek views on whether 2015 governance changes have been Europe, North America, Oceania & Antarctica
July 21, 2019
Banks and Financial Institutions Regulation
A snapshot of regulatory interventions in the banking space from around the world. 1. CANADA: Financial Transactions and Reports Analysis Centre of Canada: FAQs on Politically Exposed Persons in Canada and Heads of International Organizations The Financial Transactions and Reports Analysis Centre of Canada issued FAQs on Africa, Europe, North America
July 21, 2019
US Justice Department Moves Against Piling On
The US Justice Department (Department) this week announced a policy against piling on – repeated punishments by multiple enforcement authorities for the same misconduct that may exceed what is necessary to rectify the harm and deter future violations. The new policy encourages Department components to coordinate with one another Other
July 21, 2019
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 Real Estate Transactions The Office of the Comptroller of the Currency, the Federal Reserve System and the Federal Deposit Insurance Asia & South America, Europe, North America
July 21, 2019
Banking Regulation: The Week of April 23, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1. UNITED STATES: i) The Bureau of Consumer Financial Protection – ‘Know Before You Owe’ Mortgage Disclosure Rule The Bureau of Consumer Financial Protection finalized amendment to its “Know Before You Owe” Mortgage Disclosure Rule. Africa, Asia & South America, Europe, North America, Oceania & Antarctica