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
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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, -
HM Treasury and Bank of England extend Ways and Means Facility
HM Treasury and the Bank of England (the Bank) have agreed to extend temporarily the use of the government’s long-established Ways and Means (W&M) facility. As a temporary measure, -
United Kingdom: PRA consults on Probability of Default and Loss Given Default Estimation
The Prudential Regulation Authority (PRA) has published a Consultation Paper (CP 21/19) on Probability of Default (PD) estimation and Loss Given Default (LGD) estimation. The PRA is seeking feedback -
Ireland: Central Bank launches guidance on enforcement sanctions
The Central Bank of Ireland has published a new guide to sanctions imposed under the Administrative Sanctions Procedure (ASP) for the financial services sector. The ASP Sanctions Guidance increases
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