BOG announced that it has been admitted as a member of the Basel Consultative Group (BCG). This makes Ghana one of four countries in Africa (Ghana, Tunisia, Mauritius, and Nigeria) that are members of BCG. The BCG is one of five working groups that form the internal structure of BCBS, the global standard-setting body for the supervision of banks.
As BCBS membership is limited to G20 countries, the BCG provides a platform for BCBS to engage with non-members and facilitate broader dialog with banking supervisory authorities such as BOG and to promote supervisory cooperation and implement supervisory standards and best practices. BOG's membership of BCG will increase the exposure of its banking supervisory staff to best practices in the supervision of banks and strengthen its cooperation with other supervisory authorities worldwide. BOG remains committed to promoting the safety and soundness of the banking sector in Ghana through effective regulation and supervision.
Related Link: Press Release
Keywords: Middle East and Africa, Ghana, Banking, Basel, Basel Consultative Group, Banking Supervision, BOG
Previous ArticleAPRA Penalizes Macquarie Bank for Breaches of Regulatory Standards
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.