The Basel Committee on Banking Supervision (Basel Committee) has published its Report on open banking and application programming interfaces (APIs). The report monitors the evolving trend of open banking
-
Basel Committee consults on Pillar 3 disclosure templates
The Basel Committee on Banking Supervision has published two consultative documents related to Pillar 3 disclosure. The first document proposes a set of revised disclosure requirements related to the -
Central Bank of Nigeria issues Consumer Protection Framework
The Central Bank of Nigeria has issued Consumer Protection Framework (Framework) for the financial services industry. The Framework is aimed at enhancing consumer confidence in the industry and promoting -
Prudential Regulation Authority consults on supervision of funding liquidity risk
The Prudential Regulation Authority (PRA) is consulting on proposals to update its approach to supervising liquidity and funding risk. The exercise is aimed at: i) reflecting relevant updates to -
Capital treatment of Canada’s Highly Affected Sectors Credit Availability Program
The Office of the Superintendent of Financial Institutions (OSFI) has issued direction on capital treatment of the recently launched Highly Affected Sectors Credit Availability Program (HASCAP). Federally regulated lenders
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