The Australian Prudential Regulation Authority has published a new frequently asked question (FAQ) on how authorized deposit-taking institutions are to measure credit risk-weighted assets relating to insurance stand-by letters of
-
Dubai: Proposals on money services businesses
The Dubai Financial Services Authority has released Consultation Paper No. 125 – Proposals for Money Services. Stakeholders are required to provide comments on the consultation paper by December 15, -
US: Regulatory agencies simplify capital calculation for community banks
US federal bank regulatory agencies have issued a final rule simplifying capital requirements for community banks by allowing them to adopt a simple leverage ratio to measure capital adequacy (leverage -
Central Bank of Egypt announces measures to offset the impact of COVID-19
The Central Bank of Egypt has introduced measures to offset the impact of COVID-19. These measures include: i) cutting interest rates; ii) deferring all credit dues for all customers -
Canada: OSFI publishes final version of Liquidity Principles Guideline
The Office of the Superintendent of Financial Institutions (OSFI) has released the final version of Guideline B-6 on Liquidity Principles. Guideline B-6 sets out OSFI’s expectations around the management
May 14, 2020
United States: CFPB Issues Final Remittance Rule
The Consumer Financial Protection Bureau has published a final rule covering remittances transfers (Rule). The Rule imposes requirements on entities that send international money transfers on behalf of consumers. Among its requirements, the Rule mandates that remittance transfer providers generally must disclose the exact exchange rate, the amount North America
May 14, 2020
Bank of Canada publishes Financial System Review for 2020
The Bank of Canada has published its Financial System Review (FSR) for 2020. The FSR focuses exclusively on COVID-19 impact on the Canadian financial system. It details the results of policy actions introduced to assist Canadians and businesses through this extremely challenging period. To date, the Bank’s policy North America
May 11, 2020
South Korea: Margin requirements for non-centrally cleared derivatives
The Financial Services Commission (FSC) has postponed implementation of margin requirements for non-centrally cleared derivatives by one year. The postponement, noted the FSC, is aimed at easing compliance burdens on South Korea-based financial institutions due to the COVID-19 pandemic. In April, both Canada and Australia similarly extended their Asia & South America
May 7, 2020
Australia: Prudential Regulator publishes FAQs on loan repayment deferrals and residential mortgage lending
The Australian Prudential Regulation Authority (APRA) has released a set of FAQs on its expectations for regulated deposit-taking institutions during the period of disruption due to COVID-19. The FAQs cover the regulatory capital approach for loan repayment deferrals. The page also clarifies APRA’s guidance for serviceability assessments in Prudential Oceania & Antarctica
May 7, 2020
The European Banking Authority proposes Framework for STS Synthetic Securitization
The European Banking Authority has published its proposal for developing a simple, transparent and standardized (STS) framework for synthetic securitization. The proposal, which is limited to balance-sheet securitization, includes a list of criteria to be considered when labeling synthetic securitization as STS. Among the regulator’s proposed criteria are requirements Europe