JFSA proposed draft amendments to the regulatory notice on the "designated International Financial Reporting Standards" stipulated in the "Regulation for Terminology, Forms, and Preparation of Consolidated Financial Statements." The proposal mainly intends to define the international accounting standards that have been published through May 31, 2021, by IASB as "designated international accounting standards" set forth under Article 93 of the Regulation on Consolidated Financial Statements. These standards include IAS 39 and IFRS 9 (old and new standards on financial instruments), IFRS 7 on financial instrument disclosures, IFRS 4 on insurance contracts, and IFRS 16 on leases. The comment period on the draft amendments is open till May 29, 2021.
Comment Due Date: May 29, 2021
Keywords: Asia Pacific, Japan, Banking, Insurance, IFRD 9, Financial Instruments, IFRS 7, Disclosures, IFRS 4, Insurance Contracts, JFSA
In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.
The European Banking Authority (EBA) published answers to 29 questions in the Single Rulebook Question and Answer (Q&A) tool in September.
The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.
The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.
The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.
The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.
The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
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