CBB published various consultations and revised regulatory modules that are relevant for Islamic and conventional banks, insurers, and the investment business of banks. The updates relate to the first four volumes of the CBB Rulebook: Volume 1 is for conventional banks, Volume 2 is for Islamic banks, Volume 3 is for insurers, and Volume 4 pertains to the investment business.
The consultations are for enhancements to the directive on Cyber Security Risk Management (Section OM 6.6 of Volumes 1 and 2 of the CBB Rulebook) and on amendments to the Authorization Module by adding the activity of Arranging Credit and Advising on Credit to current activities to the rules (including for banks with investment business). The consultation for Cyber Security Risk Management ends on January 22, 2020 while the consultations on Authorization Module end on January 20, 2020. Certain proposals related to Volumes 3 and 4 of the CBB Rulebook were also issued.
In addition, CBB published the revised modules for Operational Risk Management Volumes 1 and 2 (effective immediately) and High-Level Controls Volumes 1 and 2 (effective immediately) of the CBB Rulebook, post their respective consultations. On January 09, 2020, CBB also published Appendix BR-24 that includes requirements for computation and submission of net stable funding ratio (NSFR) by banks.
- Open Consultations and Respective Notifications
- Notification on Revised Operational Risk Module (PDF)
- Operational Risk Management, Volume 1 (PDF)
- Operational Risk Management, Volume 2 (PDF)
- Notification for High-Level Controls, Volumes 1 and 2 (PDF)
- Notification for Appendix BR-24 NSFR (PDF)
- Appendix BR-25: NSFR Report, Volume 1 (XLSX)
Comment Due Dates: January 20/22, 2020
Previous ArticleBaFin Consults on Form for Netting Notifications by LSIs
The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).
The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.
The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.
The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.
The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.
The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.