The Financial Stability Board has published a report on the governance arrangements for the globally harmonised Unique Product Identifier (UPI). The UPI will uniquely identify the product involved in
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United Arab Emirates: Guidance for banks on the application of IFRS 9 during COVID-19 Pandemic
The Central Bank, the Financial Services Regulatory Authority of Abu Dhabi Global Market and the Dubai Financial Services Authority have issued joint guidance for banks regarding the application of IFRS -
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. -
New Zealand: Reserve Bank releases independent analysis of Capital Review
The Reserve Bank has released three independent international experts’ assessments of its Capital Review. The proposals aim to protect the public from the personal, social, and economic impacts of -
OSFI issues an overview of the bank capital regime in Canada
The current economic instability caused by the COVID-19 pandemic has raised questions globally about how best to approach bank capital requirements and the resulting implications for bank dividend policies.
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