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
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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 -
Prudential Regulation Authority publishes a set of Q&A on the usability of liquidity and capital buffers
The Prudential Regulation Authority (PRA) has published a document to answer some commonly asked questions on the usability of liquidity and capital buffers and their operation as outlined in PRA -
British Columbia: Proposed changes to Financial Institutions Framework
The Government of British Columbia has proposed changes to the Financial Institutions Act (FIA) and the Credit Union Incorporation Act (CUIA). The changes are aimed at modernizing the legislative -
The European Central Bank introduces package of temporary collateral easing measures
The European Central Bank (ECB) has adopted a package of temporary collateral easing measures to facilitate the availability of eligible collateral for Eurosystem counterparties to participate in liquidity providing operations.
June 2, 2020
South Africa publishes margin requirements for non-centrally cleared derivatives transactions
The Financial Sector Conduct Authority and the Prudential Authority have published a Joint Standard on Margin Requirements (Standard). The Standard prescribes margin requirements for non-centrally cleared derivatives transactions in South Africa. It will become effective at a date to be announced by the regulators. Additional details are available Africa
May 23, 2020
Report on Fintech Adoption in Hong Kong Banking Industry
The Hong Kong Institute for Monetary and Financial Research has published a report on Fintech penetration in Hong Kong. Titled “Fintech Adoption and Innovation in the Hong Kong Banking Industry,” the report explores the current landscape of Fintech development in the Hong Kong banking industry and how banks view Asia & South America
May 20, 2020
European Central Bank consults on Climate-related and Environmental Risks
The European Central Bank (ECB) has issued a consultation on its draft Guide on Climate-related and Environmental Risks (Guide). Current prudential rules require European banks to identify, manage, and disclose all material risks to which they are exposed. In this regard, the Guide explains how the ECB expects banks Europe
May 18, 2020
Singapore: Proposed regulatory approach for derivatives contracts on payment tokens
In November 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on proposed regulatory approach under the Securities and Futures Act (SFA) for derivatives contracts that reference payment tokens as underlying assets. Following stakeholders’ comments, the regulator has now published its feedback. On the proposal to Asia & South America
May 18, 2020
Norges Bank to implement a Framework for testing Cyber Resilience of Financial Institutions
The Central Bank of Norway (Norges Bank) and the Financial Supervisory Authority of Norway (Finanstilsynet) have announced plans to develop a framework to test the cyber resilience of Norwegian banks (Framework). The Framework, according to Norges Bank and Finanstilsynet, will build on the TIBER-EU framework designed by the European Europe