Featured Product

    BIS Hub Announces TechSprint on CBDCs, Publishes Multiple Reports

    April 25, 2022

    This month, the Bank for International Settlements (BIS) published papers on supervisory practices for assessing sustainability of bank business models, business continuity planning at central banks, and certain aspects of central bank digital currencies (CBDC). The BIS Innovation Hub and Bank Indonesia also announced a G20 TechSprint with a view to developing new solutions for CBDCs.

    The key highlights of the aforementioned publications follow:

    • The Financial Stability Institute (FSI) of BIS published a paper that examines the supervisory practices for assessing the sustainability of the business models of banks. Through this, the paper aims to identify practices that might be relevant to authorities seeking to explicitly introduce business model analysis in their supervisory review process. To this end, the paper emphasizes practical aspects of business model analysis, including processes and procedures for developing and conducting a such an analysis and for integrating the outcomes into the overall supervisory review process. It also notes that granular and good-quality data, adequate data aggregation capabilities, and expert judgment are indispensable elements of an effective business model analysis framework. The paper concludes that business model analysis has the potential to enhance bank supervision and make it more effective, proactive, and forward-looking.
    • The report on business continuity planning focuses on how business continuity planning at BIS member central banks in the Americas has changed since the beginning of the COVID-19 pandemic. This report is published by the Consultative Group on Risk Management established at the BIS Representative Office for the Americas. The report notes that, following the eruption of the pandemic, organizations have identified, or are in the process of identifying, key actions that will allow them to strengthen their operational continuity strategies and incorporate mechanisms to develop their operational resilience holistically.
    • With respect to the CBDCs, FSI published a paper that examines CBDC as a tool to promote financial inclusion while BIS published a set of working papers that examine the work being being done by the emerging market economy central banks with respect to the CBDCs. Finally, the BIS Innovation Hub and Bank Indonesia launched the third G20 TechSprint Initiative as one of the side events of Indonesia's G20 Presidency, focusing on developing new solutions for CBDCs. The three problem statements for the TechSprint involve enabling financial inclusion, improving interoperability of payment systems, and building effective and robust means to issue, distribute, and transfer CBDCs. The shortlisted teams will showcase their prototypes in July 2022 and and independent panel will announce winners in October 2022.

     

    Related Links

     

    Keywords: International, Banking, Business Continuity, CBDC, Financial Inclusion, Financial Stability, TechSprint, G20, Business Models, Banking Supervision, Regtech, Suptech, Operational Resilience, Operational Risk, Basel, PMI, FSI, BIS

    Featured Experts
    Related Articles
    News

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks

    May 20, 2022 WebPage Regulatory News
    News

    NGFS Report Explores Quantification of Climate Risk Differentials

    The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations

    May 19, 2022 WebPage Regulatory News
    News

    EC Publishes Results on Review of Web Accessibility Directive

    The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.

    May 19, 2022 WebPage Regulatory News
    News

    MAS Consults on Adjustment Spreads for Conversion of SOR Contracts

    The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.

    May 18, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8206