Featured Product

    FSOC Releases Annual Report for 2017

    December 14, 2017

    FSOC published its 2017 annual report, which describes significant financial market and regulatory developments, potential emerging threats to the U.S. financial stability, recommendations to promote financial stability, and the activities of FSOC. The report emphasizes that the U.S. financial regulatory system should promote economic growth by preventing financial crises and minimizing regulations that increase costs without commensurate benefits.

    Except as otherwise indicated, data cited in this report are as of October 31, 2017. The report, which was developed collaboratively by the FSOC members, their agencies, and respective staff, also recommends the following:

    • The creation of a private-sector council of senior executives to collaborate with regulators and focus on the ways that cyber incidents could impact businesses is recommended.
    • Financial regulators should ensure that financial institutions have sufficient capital and liquidity to reduce their vulnerability to economic and financial shocks. Additionally, regulators should continue to monitor and assess the impact of rules on financial institutions and markets.
    • Regulators should continue to evaluate whether existing rules and standards for central counterparties and their clearing members are sufficiently robust to mitigate potential threats to financial stability.
    • SEC should monitor and assess the effectiveness of money market mutual fund reforms that were implemented last year.
    • Regulators and market participants should complete work on alternative reference rates and take appropriate steps to mitigate disruptions associated with the transition to a new reference rate.
    • Regulators and market participants should continue work to improve the coverage, quality, and accessibility of financial data, in addition to enhancing data sharing between and among relevant agencies.

     

    Related Link: Press Release and Report

    Keywords: Americas, US, Banking, Securities, Accounting, Insurance, Annual Report, Financial Stability, Proportionality, FSOC

    Related Articles
    News

    APRA Publishes Proposal to Increase Transparency of Banking Data

    APRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies.

    December 05, 2019 WebPage Regulatory News
    News

    ESMA Consults on Guide to Internal Controls for Credit Rating Agencies

    ESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).

    December 05, 2019 WebPage Regulatory News
    News

    EU Finalizes Directive and Prudential Rules for Investment Firms

    EU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.

    December 05, 2019 WebPage Regulatory News
    News

    OSFI Revises Guideline on Principles for Management of Liquidity Risk

    OSFI finalized Guideline B-6 on the principles for the management of liquidity risk.

    December 05, 2019 WebPage Regulatory News
    News

    PRA Consults on Framework to Manage Outsourcing and Third-Party Risk

    PRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.

    December 05, 2019 WebPage Regulatory News
    News

    BoE, PRA, and FCA Consult to Strengthen Operational Resilience

    BoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.

    December 05, 2019 WebPage Regulatory News
    News

    EC Amends Rule on Mapping of External Credit Assessment Institutions

    EC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.

    December 04, 2019 WebPage Regulatory News
    News

    EBA Issues Second Part of Advice on Implementation of Basel III in EU

    EBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.

    December 04, 2019 WebPage Regulatory News
    News

    EU Approves European Council Proposal on CCP Recovery and Resolution

    EU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.

    December 04, 2019 WebPage Regulatory News
    News

    OSFI Releases Guideline on Foreign Bank Branch Deposit Requirements

    OSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.

    December 04, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4268