The Reserve Bank of New Zealand has issued a policy on reporting and publication of breaches by banks, in an effort to improve transparency and market discipline. The policy
-
Canada: Consultation on policy proposals for new high-value payments system
Payments Canada is seeking feedback on policy proposals that will shape a new by-law for Canada’s new high-value payments system, Lynx. The proposals touch on key requirements including membership -
FSB releases report on international cooperation to address COVID-19 implications
The Financial Stability Board has published a report on international cooperation and coordination to address the financial stability implications of COVID-19. The report outlines principles that underpin the official -
Financial Stability Board publishes 2019 G-SIB list
The Financial Stability Board (FSB) has published the 2019 list of global systemically important banks (G-SIBs). The FSB added Toronto Dominion Bank (TD) to the list of G-SIBs, making -
United States: OCC fines Citibank $30 million over control deficiencies
The Office of the Comptroller of the Currency (OCC) has imposed a $30 million fine on Citibank, N.A. (Citi) over control deficiencies. The violations, according to the regulator, resulted
May 6, 2020
The Central Bank of Tunisia to implement IFRS in the Financial Sector
The European Bank for Reconstruction and Development (EBRD) has announced its support for the Central Bank of Tunisia’s adoption and implementation of International Financial Reporting Standards (IFRS). The Central Bank of Tunisia is leading the transition of the financial sector towards IFRS from a prudential point of view. It Africa
May 6, 2020
Final Guidelines on Credit Risk Mitigation for Institutions applying the IRB approach with own estimates of LGDs
The European Banking Authority (EBA) has published its final Guidelines on credit risk mitigation (CRM) in the context of the advanced internal ratings-based (A-IRB) approach (Guidelines). These Guidelines, which are part of the EBA’s regulatory review of the IRB approach, aim to eliminate the remaining significant differences in approaches Europe
May 5, 2020
UK Government’s Bounce Back Loans Scheme: Observations on Credit Risk Mitigation Eligibility and the Leverage Ratio Treatment
The Prudential Regulation Authority (PRA) has published its observations on the risk-weighted treatment of exposures under the Bounce Back Loan Scheme, particularly eligibility for recognition as unfunded credit risk mitigation under the Capital Requirements Regulation. The PRA release also sets out a change to the UK leverage ratio framework. Europe
May 4, 2020
Financial Stability Board: Consultation on guidance on assessing the adequacy of financial resources for CCP resolution
The Financial Stability Board is consulting on Guidance on financial resources to support CCP resolution and on the treatment of CCP equity in resolution (Guidance). Part I of the Guidance proposes five steps to guide supervisory authorities in assessing the adequacy of a central counterparty (CCP)’s financial resources and Other
May 4, 2020
COVID-19 Pandemic: Singapore provides Additional Financial Support for Individuals
The Monetary Authority of Singapore, the Association of Banks in Singapore, and the Finance Houses Association of Singapore have announced additional measures to support individuals facing financial difficulties due to the COVID-19 pandemic. Based on the announcement, the measures will extend the scope of relief for individuals to other Asia & South America