Featured Product

    FSB Publishes Update on December Meeting of RCG for Sub-Saharan Africa

    December 13, 2019

    FSB published a summary of the meeting of the Regional Consultative Group (RCG) for Sub-Saharan Africa. The key topics of discussion at the meeting included financial stability implications of financial market developments worldwide; vulnerabilities from rising non-performing loans and from climate-related risks in Sub-Saharan Africa; the 2020 work program of FSB; the supervision of financial conglomerates; and the ongoing work of FSB on developing a toolkit to support financial institutions before, during, and after a cyber incident. FSB is expected to issue a consultative document, in April 2020, on the toolkit for effective practices with respect to a cyber incident.

    The meeting started with a discussion on recent global and regional macroeconomic and financial market developments and their implications for financial stability. The group discussed vulnerabilities created by low bond yields and increased holdings of lower quality debt and illiquid assets by investment funds. The group also noted increasing vulnerabilities from rising debt levels and non-performing loans in the region. Members emphasized the importance of adequate capital buffers for banks in response to these developments. Members discussed the FSB 2020 work program, its contribution to the Saudi Arabian G20 Presidency, and the issues that will be of most interest to authorities in the region. The group also discussed the recent publication of FSB on bigtech and reviewed fintech developments in the region. The meeting concluded with a discussion on the supervision of financial conglomerates. Members discussed trends toward increased consolidation of financial firms in the region and the approaches needed for effective supervision of these firms. In particular, group members noted the importance of continued dialog among supervisory authorities.


    Related Link: Press Release

     

    Keywords: International, Sub Saharan Africa,  Banking, NPLs, Credit Risk, Work Program 2020, Fintech, Climate Change Risk, Cyber Risk, Cyber Incident, FSB

    Related Articles
    News

    APRA Updates Timelines for Revision of Market Risk Standards

    The Australian Prudential Regulation Authority (APRA) released an update on the timelines for revisions to the market risk prudential standards and the implications for the broader capital framework.

    October 27, 2021 WebPage Regulatory News
    News

    BCBS and IOSCO Propose Further Policy Work on Margining Practices

    Three global standard-setters launched a joint consultation that reviews the margining practices during the COVID-19 pandemic and identifies potential areas for further policy work.

    October 26, 2021 WebPage Regulatory News
    News

    BoE Seeks Information Before Migrating Statistical Reporting to BEEDS

    The Bank of England (BoE) published the Statistical Notice 2021/09 requiring additional information from firms and software vendors to assist in the onboarding and testing phases for migrating statistical reporting to the BEEDS portal.

    October 25, 2021 WebPage Regulatory News
    News

    EBA Finalizes Standards on Alternative SA for Market Risk

    The European Banking Authority (EBA) published the final draft regulatory technical standards on gross jump-to-default amounts and on residual risk add-on under the Capital Requirements Regulation or CRR.

    October 25, 2021 WebPage Regulatory News
    News

    FCA Publishes Final Rules on Investment Firms Prudential Regime

    The Financial Conduct Authority (FCA) published the final rules on the Investment Firms Prudential Regime (IFPR) to streamline and simplify the prudential requirements for solo-regulated UK firms authorized under the Markets in Financial Instruments Directive (MiFID).

    October 25, 2021 WebPage Regulatory News
    News

    ESAs Propose New Rules for Taxonomy-Related Product Disclosures

    The European Supervisory Authorities (ESAs) have delivered to the European Commission (EC) the final report on the draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR).

    October 25, 2021 WebPage Regulatory News
    News

    EBA Advice on Review of Crisis Management/Deposit Insurance Framework

    The European Banking Authority (EBA) published an advice to the European Commission (EC) on funding in resolution and insolvency as part of the review of the crisis management and deposit insurance (CMDI) framework.

    October 25, 2021 WebPage Regulatory News
    News

    FSOC Report Issues Recommendations to Address Climate Risks

    The Financial Stability Oversight Council (FSOC) released a report in response to the U.S. President's Executive Order on climate-related financial risk.

    October 21, 2021 WebPage Regulatory News
    News

    BIS Paper Mulls Policies to Alleviate Challenges Posed by Big Techs

    The Bank for International Settlements (BIS) published a paper that examines the business models and the associated risks posed by big technology firms foraying into financial services sector.

    October 21, 2021 WebPage Regulatory News
    News

    BIS to Launch Asian Green Bond Fund Early Next Year

    The Bank for International Settlements (BIS) announced the development of an Asian Green Bond Fund, in collaboration with the development financing community, to channel global central bank reserves to green projects in Asia Pacific.

    October 21, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7609