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January 11, 2018

SBIF is consulting on the standard method for estimating the provisions for credit risk of the commercial portfolio of group analysis. This proposal modifies the provisions for credit risk, contained in Chapter B-1 of the Compendium of Accounting Standards (CNC), and is part of the effort of the SBIF to provide standardized methodologies for computation of loan portfolio provisions. The regulations, which will be in consultation until February 12, 2018, will come into force in January 2019. Along with the consultation, SBIF also published frequently asked questions (FAQs) related to the consultation.

The consultation introduces standard methods to calculate the provisions for credit risk of the group commercial portfolio. This seeks to continue advancing in the implementation of standardized methods for the computation of provisions. The proposal in consultation contains four methods that, as a whole, make up the minimum standard of provisions for the commercial portfolio of group analysis. The proposed methods and risk factors that are considered are commercial leasing method, factoring method, student method, and generic commercial method.

 

Related Link: Press Release (in Spanish)

Comment Due Date: February 12, 2018

Keywords: Americas, Chile, Banking, Credit Risk, SBIF

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RBNZ Updates Framework for Restrictions on High LVR Mortgage Lending

RBNZ updated the framework for restrictions on high loan-to-valuation ratio (LVR) residential mortgage lending. The framework sets out the RBNZ framework for imposing quantitative restrictions on the share of high LVR loans by registered banks to the residential property sector.

January 02, 2018 WebPage Regulatory News
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BaFin on Transfer of Newly Issued Shares in Cooperative Banks

BaFin published a general order that regulates how newly issued shares in cooperative banks, with the permission of the BaFin, can be classified as instruments of common equity tier 1 (CET1) capital.

January 02, 2018 WebPage Regulatory News
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AMF Revised Capital Adequacy Requirement Guidelines for Insurers

AMF published the revised guideline on capital adequacy requirements (CAR) for life and health insurers. The updated guideline is effective as of January 01, 2018.

January 01, 2018 WebPage Regulatory News
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AMF Amends Guideline on Capital Adequacy Requirements for P&C Insurers

AMF published the revised guideline on capital adequacy requirements (CAR) for property and casualty (P&C) insurance companies. This updated guideline has been effective as of January 01, 2018.

January 01, 2018 WebPage Regulatory News
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IMF Publishes Reports on 2017 Article IV Consultation with Argentina

IMF published staff report and selected issues report in context of the 2017 Article IV consultation with Argentina.

December 29, 2017 WebPage Regulatory News
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HKMA Updates List of Banks Designated as D-SIBs in Hong Kong

HKMA has completed its annual assessment of the list of domestic systemically important authorized institutions (D-SIBs).

December 29, 2017 WebPage Regulatory News
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CBRC on Capital Approach to Strengthen Supervision of Asset Companies

CBRC published a notice on the Administrative Measures to strengthen the capital supervision of financial asset management companies and to safeguard the stable operation of these asset companies. These measures enter into force on January 01, 2018.

December 29, 2017 WebPage Regulatory News
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Bank of Finland Publishes Updates for AnaCredit in December 2017

Bank of Finland published the updated Version 2.3 of its preliminary AnaCredit requirements, along with the updated description of electronic reporting for credit data collection.

December 29, 2017 WebPage Regulatory News
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APRA Issues List of Direct to APRA Validation Rules for Banks

APRA published list of the latest Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, including banks, building societies, and credit unions.

December 29, 2017 WebPage Regulatory News
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MAS Amends Notice 612 on ECL Recognition in Bank Financial Statements

The Notice also addresses the requirements for recognition of credit loss allowance for expected credit losses (ECL) in the financial statements of banks.

December 29, 2017 WebPage Regulatory News
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EC Finalizes Regulation on Framework for STS and Other Securitizations

EC published EU Regulation 2017/2402, which lays down a general framework for securitization and creates a specific framework for simple, transparent, and standardized (STS) securitization.

December 28, 2017 WebPage Regulatory News
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EC Amends CRR With Respect to Capital Treatment of STS Securitization

EC published Regulation (EU) 2017/2401 on prudential requirements for credit institutions and investment firms.

December 28, 2017 WebPage Regulatory News
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CBRC Consults on Licensing Measures for Foreign Funded Banks

CBRC is consulting the public on amendments to its decision on implementing administrative measures for foreign-funded banks.

December 28, 2017 WebPage Regulatory News
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FED Publishes Federal Notices and Updates Multiple Reporting Forms

FED published the final Federal Register notice adopting a proposal to extend for three years, without revision, the reporting requirements associated with Regulation XX Concentration Limit (FR XX) and Financial Company (as defined) Report of Consolidated Liabilities (FR XX-1).

December 28, 2017 WebPage Regulatory News
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MAS Publishes Notice 653 on Net Stable Funding Ratio Disclosures

MAS published Notice 653 that sets out requirements for a domestic systemically important bank (D-SIB) to disclose quantitative and qualitative information about its Net Stable Funding Ratio (NSFR).

December 28, 2017 WebPage Regulatory News
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MAS Amends Notice 637 on Capital Requirements for Banks in Singapore

MAS amended Notice 637 on risk-based capital adequacy requirements for banks incorporated in Singapore.

December 28, 2017 WebPage Regulatory News
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MAS Amends Disclosure Requirements Under Notices 637, 651, and 653

MAS published amendments to disclosure requirements under MAS Notices 637, 651, and 653, along with its response to the feedback received on the proposed amendments to these notices.

December 28, 2017 WebPage Regulatory News
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EC on Ranking of Unsecured Debt Instruments in Insolvency Hierarchy

EC published Directive (EU) 2017/2399 on the ranking of unsecured debt instruments in insolvency hierarchy.

December 27, 2017 WebPage Regulatory News
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EC Rules on Transitional Arrangements for Mitigating Impact of IFRS 9

EC published Regulation (EU) 2017/2395 on transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public-sector exposures denominated in the domestic currency of any member state.

December 27, 2017 WebPage Regulatory News
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IFSB Issues Paper on Recovery, Resolution, and Insolvency of IIFS

IFSB issued a working paper (WP-07) on recovery, resolution, and insolvency issues for Institutions offering Islamic Financial Services (IIFS).

December 27, 2017 WebPage Regulatory News
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IMF Report on Shadow Banking and Market Discipline in Banks

IMF published a working paper on shadow banking and market discipline on traditional banks. The paper proposes a framework in which depositors may withdraw their deposits early in reaction to crises.

December 22, 2017 WebPage Regulatory News
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BDE Amends Circular on Transparency and Liability of Banking Services

BDE published Circular 5/2017 on transparency of banking services and liability in granting loans. Annex 8 of Circular 5/2017 modifies Sections 4 and 6 of Annex 8 of Circular 5/2012 of June 27 to credit institutions and payment service providers.

December 22, 2017 WebPage Regulatory News
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EBA Issues Opinion on the Use of 180 Day Past Due Criterion

EBA issued an advice to EC on the appropriateness of continuing to apply the 180 day past due (DPD) exemption for material exposures.

December 22, 2017 WebPage Regulatory News
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FINMA Proposes Updates to Circulars on Credit Risk and Leverage Ratio

FINMA proposed updates to the banking circulars on credit risk (Circular 2017/7) and leverage ratio (Circular 2015/3), with the aim to reflect the amended Capital Adequacy Ordinance.

December 22, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Fourth Update for December 2017

The Single Rulebook Q&A updates for the week include four items, which are related to own funds requirements and supervisory reporting of institutions.

December 22, 2017 WebPage Regulatory News
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BCBS Proposes Technical Amendment to Net Stable Funding Ratio

BCBS published its first proposed technical amendment, which is related to the treatment of extraordinary monetary policy operations in the net stable funding ratio (NSFR).

December 21, 2017 WebPage Regulatory News
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FSB on Assessment Methodology for Key Attributes of Resolution Regimes

FSB published a consultation paper on the methodology for assessing the implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions in the insurance sector.

December 21, 2017 WebPage Regulatory News
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OFR G-SIB Scores Chart Shows Rising Systemic Importance of Asian Banks

An article by the OFR Deputy Director for Research and Analysis Stacey Schreft highlights that new data on the world’s largest banks show the increasing systemic importance of Asian banks.

December 21, 2017 WebPage Regulatory News
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SNB Updates Validation Rules for Liquidity Monitoring Tools Reporting

SNB updated validation rules for the Liquidity Monitoring Tools (LMT) reporting at both the group and single entity levels.

December 21, 2017 WebPage Regulatory News
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EIOPA Publishes Report on LTG Measures and Measures on Equity Risk

EIOPA published its second annual report 2017 on Long-Term Guarantee (LTG) measures and measures on equity risk. This report analyzes the impact of measures on the financial position of all (re)insurance undertakings from the European Economic Area.

December 21, 2017 WebPage Regulatory News
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EIOPA on Use of CAOs and Limitations from Supervisory Reporting

EIOPA published annual reports on the use of exemptions and limitations from the regular supervisory reporting and on the use of capital add-ons by national competent authorities.

December 21, 2017 WebPage Regulatory News
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EIOPA Issues Opinion on Service Continuity in the Context of Brexit

EIOPA issued an Opinion on service continuity in light of the withdrawal of the UK from the EU.

December 21, 2017 WebPage Regulatory News
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ESMA Review on Supervision of Default Management Procedures of CCPs

ESMA issued the results of a peer review it conducted into how national competent authorities ensure that central counterparties (CCPs) comply with requirements under the European Markets Infrastructure Regulation (EMIR).

December 21, 2017 WebPage Regulatory News
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ESMA Updates Its CFI Validations for MiFID II

ESMA published the updated Classification of Financial Instruments (CFI) validation document relevant for data reporting under the Markets in Financial Instruments Directive (MiFID II).

December 21, 2017 WebPage Regulatory News
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IMF Publishes FSSA Report for India Under the FSAP

The report highlights that increased diversification, commercial orientation, and technology-driven inclusion have supported growth in the financial industry, backed by improved legal, regulatory, and supervisory frameworks.

December 21, 2017 WebPage Regulatory News
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FASB Publishes the 2018 GAAP Financial Reporting Taxonomy

FASB announced the availability of the 2018 GAAP Financial Reporting Taxonomy and the 2018 SEC Reporting Taxonomy (SRT).

December 21, 2017 WebPage Regulatory News
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EC on Proportionate and Risk-Sensitive Rules for Investment Firms

EC proposed a two-track overhaul to make life simpler for smaller investment firms, while bringing the largest, systemic ones under the same regime as European banks.

December 20, 2017 WebPage Regulatory News
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MAS Amends Notice 652 on NSFR to Delay Implementation of RSF Add-On

MAS amended Notice 652 on the Net Stable Funding Ratio (NSFR) under Basel III. The amendment facilitates delay in the implementation of the Required Stable Funding (RSF) add-on for derivative liabilities, until further notice by MAS.

December 20, 2017 WebPage Regulatory News
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BCBS Examines Best Practices and Consults on Stress Testing Principles

BCBS released a consultative document on stress testing principles, along with a range of practices report on supervisory and bank stress testing. BCBS welcomes comments on all aspects of the proposed principles and comments are due by March 23, 2018.

December 20, 2017 WebPage Regulatory News
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EC Proposes to Amend Application Date of IDD and Related Regulations

EC proposed a Directive to amend the Insurance Distribution Directive, or IDD, (Directive 2016/97) with respect to the date of application of transposition measures of member states.

December 20, 2017 WebPage Regulatory News
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EBA Publishes Impact Assessment of Basel Reforms on EU Banks

The report presents aggregate data on EU banks and assumes full implementation of the final Basel III framework, as endorsed by the Group of Central Bank Governors and Heads of Supervision (GHoS).

December 20, 2017 WebPage Regulatory News
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EBA Publishes Final Report on Recommendations on Cloud Outsourcing

EBA published final guidance on the use of cloud service providers by financial institutions.

December 20, 2017 WebPage Regulatory News
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EBA Publishes an Updated Quantitative Analysis on MREL

EBA published an updated quantitative analysis on the minimum requirement for own funds and eligible liabilities (MREL).

December 20, 2017 WebPage Regulatory News
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EC Publishes Regulation on Transmission of Information Under MiFID II

EC published the Commission Implementing Regulation (EU) 2017/2382, which lays down implementing technical standards on standard forms, templates, and procedures for the transmission of information in accordance with the Markets in Financial Instruments Directive II (MiFID II: Directive 2014/65/EU).

December 20, 2017 WebPage Regulatory News
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SRB Publishes the 2017 Policy Statement on MREL

SRB, along with the Banking Union national resolution authorities, published the 2017 policy statement on the minimum requirement for own funds and eligible liabilities (MREL); this policy statement will serve as a basis for setting the consolidated MREL targets for banks under the remit of SRB.

December 20, 2017 WebPage Regulatory News
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EIOPA Report Highlights Key Financial Stability Risks for Insurers

EIOPA published its semi-annual financial stability report on the insurance, reinsurance, and occupational pensions sectors in the European economic area in December 2017.

December 20, 2017 WebPage Regulatory News
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ESMA Issues Statement on Implementation of LEI Under MiFID II

ESMA issued a statement to support the smooth implementation of Legal Entity Identifier (LEI) requirements under the Markets in Financial Instruments Regulation (MiFIR).

December 20, 2017 WebPage Regulatory News
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OSFI Revises Guideline on Basel III Leverage Ratio Disclosures

The guideline provides clarification on the implementation of the BCBS leverage ratio framework and disclosure requirements for all institutions and builds on the April 2017 Pillar 3 Disclosure Requirements guideline of OSFI.

December 20, 2017 WebPage Regulatory News
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ESMA Publishes Annual Market Share Calculation for CRAs

The purpose of the market share calculation is to facilitate issuers and related third parties in their evaluation of a CRA with no more than 10% total market share in the EU.

December 20, 2017 WebPage Regulatory News
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FINMA Issues Revised Circular 2019/1 on Risk Diversification for Banks

This revision was necessitated by changes adopted by the Federal Council to the Capital Adequacy Ordinance, which contains rules on banks and securities dealers’ capital bases and risk diversification.

December 20, 2017 WebPage Regulatory News
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MAS Proposes Revision to Scope of Eligible Collateral in Notice 637

MAS published consultation paper on proposals to widen the scope of eligible collateral relating to commodities and equity securities in MAS Notice 637.

December 20, 2017 WebPage Regulatory News
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EIOPA Publishes Opinion on Supervisory Assessment of Internal Models

EIOPA issued an opinion on the supervisory assessment of internal models, including a dynamic volatility adjustment (DVA).

December 20, 2017 WebPage Regulatory News
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BoE Consults on Approach for Authorization of Banks and Insurers

BoE is consulting on an updated approach to authorizing and supervising international banks and insurers. BoE also issued guidance on its approach to international central counterparties (CCPs).

December 20, 2017 WebPage Regulatory News
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DNB Issues Banking Newsletter for December 2017

DNB issued the banking newsletter for December 2017. This month’s issue focuses on thematic research into risk management during outsourcing.

December 20, 2017 WebPage Regulatory News
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EC Issues Regulations Supplementing Insurance Distribution Directive

EC published the Commission Delegated Regulations (EU) 2017/2358 and 2017/2359, which supplement the Insurance Distribution Directive (IDD: Directive (EU) 2016/97).

December 20, 2017 WebPage Regulatory News
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EBA Publishes Opinion on Transition from PSD1 to PSD2

EBA published an opinion addressed to competent authorities on the transition from the existing Payment Services Directive (PSD1) to the revised Payment Services Directive (PSD2), which will apply from January 13, 2018.

December 19, 2017 WebPage Regulatory News
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ESAs Amend Margin Requirements for Non-Centrally Cleared Derivatives

ESAs (EBA, EIOPA, and ESMA) published the jointly developed draft regulatory technical standards amending the framework of the European Market Infrastructure Regulation (EMIR) with regard to physically settled foreign-exchange (FX) forwards.

December 19, 2017 WebPage Regulatory News
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ESMA Consults on Technical Standards on Securitization Requirements

ESMA published three consultation papers on the draft technical standards implementing the Securitisation Regulation.

December 19, 2017 WebPage Regulatory News
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EBA Regulatory Standards Related to Recovery and Resolution Planning

EBA published a report on the application of simplified obligations and waivers in recovery and resolution planning. It also published the final draft regulatory technical standards specifying the eligibility criteria to determine whether institutions could be subject to simplified obligations when drafting such plans.

December 19, 2017 WebPage Regulatory News
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RBNZ Consults on Options for Calculation of Risk-Weighted Assets

RBNZ is seeking feedback on the options for calculating risk-weighted assets as part of the review of the Capital Adequacy Framework for locally incorporated banks.

December 19, 2017 WebPage Regulatory News
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ESMA Updates MIFID II Trading Halts Procedure

ESMA published the revised procedure and template to be used by national competent authorities for reporting the parameters used by trading venues under their jurisdiction for halting trading; this is in accordance with Article 48(5) of the Markets in Financial Instruments Directive (MiFID II).

December 19, 2017 WebPage Regulatory News
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ECB Publishes Fourth Issue of the Macroprudential Bulletin

This issue provides insights into the analytical work and regulatory issues related to macroprudential policy in the EU.

December 19, 2017 WebPage Regulatory News
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US Agencies Announce Joint Determinations for Resolution Plans

The agencies announced that the resolution plans of the eight largest and most complex domestic banking organizations did not have deficiencies, which are weaknesses severe enough to trigger a resubmission process that could result in more stringent requirements.

December 19, 2017 WebPage Regulatory News
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EIOPA Issues Q&A on Comprehension Alert in KID for IBIPs

EIOIPA issued a question and answer (Q&A) on the comprehension alert in the Key Information Document (KID) for Insurance-Based Investment Products (IBIPs).

December 19, 2017 WebPage Regulatory News
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DNB Issues Insurance Newsletter for December 2017

DNB issued insurance newsletter for December 2017. This issue highlights that the DNB calls on insurers to take into account scenarios deviating from the Solvency II standard formula in their risk management.

December 19, 2017 WebPage Regulatory News
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EBA Discussion Paper on Implementing Revised Market Risk Framework

EBA published a discussion paper on the implementation of the revised market risk and counterparty credit risk frameworks in the EU—also known as the Fundamental Review of the Trading Book (FRTB) and the Standardized Approach for Counterparty Credit Risk (SA-CCR), respectively.

December 18, 2017 WebPage Regulatory News
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EBA Consults on Technical Standards on Benchmarking of Internal Models

EBA launched a consultation to amend the Commission Implementing Regulation on benchmarking of internal models.

December 18, 2017 WebPage Regulatory News
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IAIS Publishes Newsletter for December 2017

IAIS published the December issue of its newsletter. The key highlight of this issue is the interview with new IAIS Secretary General Jonathan Dixon, who became the Secretary General of IAIS following the conclusion of the 2017 IAIS Annual Conference.

December 18, 2017 WebPage Regulatory News
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ESMA Updates Several Q&As on Implementation of MiFID II and MiFIR

ESMA updated several question and answer documents (Q&As) related to the implementation of the revised Market in Financial Instruments Directive and Regulation (MiFID II and MiFIR) in the EU.

December 18, 2017 WebPage Regulatory News
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ESMA Issues Technical Standards for European Single Electronic Format

ESMA published the final draft regulatory technical standards setting out the new European Single Electronic Format (ESEF).

December 18, 2017 WebPage Regulatory News
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François Villeroy de Galhau of ACPR Speaks on Bank Resolution

François Villeroy de Galhau, the Governor of the Bank of France and Chairman of the ACPR, spoke about bank resolution at the ACPR Academic Conference in Paris.

December 18, 2017 WebPage Regulatory News
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EBA Publishes Impact Assessment Report on Liquidity Coverage Ratio

EBA published the fourth impact assessment report for the liquidity coverage ratio (LCR).

December 18, 2017 WebPage Regulatory News
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EC Consults on Proportionate Regulatory Environment for SME Listing

EC published consultation on building a proportionate regulatory environment to support small and medium enterprise (SME) listing.

December 18, 2017 WebPage Regulatory News
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EIOPA Report Analyzes SFCRs and Identifies Areas for Improvement

EIOPA published a supervisory statement based on an analysis of the first Solvency and Financial Condition Reports (SFCRs) of (re)insurance undertakings and insurance groups.

December 18, 2017 WebPage Regulatory News
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APRA Submission on Proposed Legislation on Crisis Resolution Powers

The submission outlines key reforms in the proposed legislation.

December 18, 2017 WebPage Regulatory News
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ESMA Issues Statement on Preparatory Work on CFDs and Binary Options

ESMA issued a statement updating on its work in relation to the sale of contracts for differences (CFDs), binary options, and other speculative products to retail investors.

December 15, 2017 WebPage Regulatory News
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MAS Issues Response to Consultation on Review of Insurance Returns

MAS issued a circular stating its response to the feedback received on a consultation paper on the review of insurance returns.

December 15, 2017 WebPage Regulatory News
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EBA Consults on Standards on Risk Retention for Securitizations

EBA launched a public consultation on the draft regulatory technical standards specifying the requirements for originators, sponsors, and original lenders related to risk retention—as laid down in the new EU securitization framework (namely, Simple, Transparent and Standardized, or STS, Regulation).

December 15, 2017 WebPage Regulatory News
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APRA Announces Review of LPS 117 on Capital Adequacy of Life Insurers

APRA published a letter about the review of Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge or ACRC (LPS 117), to ensure it remains fit for purpose and in line with the objectives in the APRA mandate.

December 15, 2017 WebPage Regulatory News
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EBA Consults on Homogeneity of Underlying Exposures in Securitization

EBA launched a public consultation on the draft regulatory technical standards specifying a set of criteria for the underlying exposures in securitization to be deemed homogeneous, as part of the requirements under the new EU securitization framework.

December 15, 2017 WebPage Regulatory News
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FINMA Amends Circular 15/2 on Liquidity Risks for Banks

FINMA amended the circular (Circular 2015/2) on liquidity risks for banks, with the new rules entering into force on January 01, 2018.

December 15, 2017 WebPage Regulatory News
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ESMA Updates Q&A and Lists Liquid Contracts on Commodity Derivatives

ESMA updated the questions and answers (Q&A) document on commodity derivatives under the revised Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

December 15, 2017 WebPage Regulatory News
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ECB Seeks Feedback on Guide for Assessment of IMMs for Calculating CCR

ECB published the draft guide and the frequently asked questions (FAQ) on the assessment methodology for the internal model method (IMM) and the advanced credit valuation adjustment (CVA) capital charge for counterparty credit risk (CCR).

December 15, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Third Update for December 2017

This week one answer was published as part of the Single Rulebook Q&A. The answer addressed a question on the value assigned to liabilities arising from derivative contracts.

December 15, 2017 WebPage Regulatory News
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ESMA Provides Overview of MiFID II Deferral Regimes

ESMA published a table compiling the supplementary deferral regimes applicable in different member states for trading in non-equity instruments under the Market in Financial Instruments Regulation (MiFIR).

December 15, 2017 WebPage Regulatory News
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ESMA Consults on Regulatory Standards Under the Prospectus Regulation

ESMA launched a consultation on the draft regulatory technical standards under the new Prospectus Regulation (Regulation (EU) 2017/1129).

December 15, 2017 WebPage Regulatory News
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ESMA Opinions on Third-Country Trading Venue Transactions Under MIFID

ESMA published two revised opinions, providing guidance related to third-country trading venues for post-trade transparency and position limits under MiFIDII/MiFIR.

December 15, 2017 WebPage Regulatory News
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OSFI Publishes Updates on Filing Instructions and Forms Under LICAT

OSFI issued a letter stating that the OSFI-86 and OSFI-87 returns will be discontinued following the completion of the fourth quarter of 2017 filing period, after the annual update letter issued on August 02, 2017.

December 15, 2017 WebPage Regulatory News
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OSFI Amends BCAR Return and Instructions for Q1 2018 Filing

OSFI issued a letter announcing the additional changes that were made to the Financial Information Committee (FIC) Basel Capital Adequacy Reporting (BCAR) regulatory return and instructions.

December 15, 2017 WebPage Regulatory News
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FCA Publishes PS17/27 on Feedback to CP17/23 on Implementation of IDD

CP17/23 and PS17/27 cover the implementation of most IDD Level 1 matters; these include the remaining conduct requirements for life policies and information disclosure in relation to non-investment insurance contracts, which were not covered in the earlier consultation CP17/7.

December 15, 2017 WebPage Regulatory News
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EBA Publishes Standardized Data Templates for NPL Transactions

EBA published the data templates that will provide a common EU dataset for the screening, financial due diligence, and valuation during nonperforming loan (NPL) transactions.

December 14, 2017 WebPage Regulatory News
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FSB Publishes Survey on Incentives to Centrally Clear OTC Derivatives

FSB, BCBS, CPMI, and IOSCO have agreed to evaluate the effects of the interaction of the post-crisis regulatory reforms on incentives to centrally clear over-the-counter (OTC) derivatives.

December 14, 2017 WebPage Regulatory News
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OSFI Finalizes Guideline E-19, Guideline A-4 and ORSA KMR for Insurers

OSFI issued final versions of Guideline E-19, Guideline A-4, and the Key Metrics Report for certain insurers.

December 14, 2017 WebPage Regulatory News
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FSOC Releases Annual Report for 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.

December 14, 2017 WebPage Regulatory News
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FDIC and SRB Sign A Cooperation Arrangement

FDIC and SRB signed a Cooperation Arrangement to further strengthen the close cooperation between the two organizations, in compliance with the legal frameworks in the United States and the EU.

December 14, 2017 WebPage Regulatory News
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ESMA Updates Q&As on Securities Regulations in December 2017

ESMA updated Q&As on Benchmarks Regulation (BMR), Central Securities Depository Regulation (CSDR), European Markets Infrastructure Regulation (EMIR), Market Abuse Regulation (MAR), and post-trading issues under the Second Markets in Financial Instruments Directive (MiFID II).

December 14, 2017 WebPage Regulatory News
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EBA Updates Implementing Standards for 2018 Benchmarking Exercise

EBA updated the implementing technical Standards on benchmarking of internal approaches, which define the benchmarking portfolios for the 2018 benchmarking exercise.

December 14, 2017 WebPage Regulatory News
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IMF Publishes Reports on the 2017 Article IV Consultation with Finland

IMF published its staff report and selected issues report in the context of the 2017 Article IV consultation with Finland.

December 13, 2017 WebPage Regulatory News
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EC Standards on Disclosure of Encumbered and Unencumbered Assets

EC published the Commission Delegated Regulation, or CDR, (EU) 2017/2295 laying out regulatory technical standards for disclosure of encumbered and unencumbered assets. CDR (EU) 2017/2295 supplements Capital Requirements Regulation (CRR)—that is, Regulation (EU) No 575/2013.

December 13, 2017 WebPage Regulatory News
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PRA and FCA Consult on Implementing Extension of SM&CR to Insurers

PRA published the consultation paper CP28/17 that sets out the proposed changes to forms, along with other consequential changes and minor administrative amendments related to the extension of the Senior Managers and Certification Regime (SM&CR) to insurers.

December 13, 2017 WebPage Regulatory News
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FSI Executive Summaries on IFRS 9 and Treatment of Problem Assets

The Financial Stability Institute (FSI) of BIS published Executive Summaries on prudential treatment of problem assets and on IFRS 9 and expected credit loss (ECL) provisioning.

December 13, 2017 WebPage Regulatory News
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EIOPA Publishes Results of Occupational Pensions Stress Test 2017

EIOPA published the report describing results of the 2017 Occupational Pensions Stress Test. The European defined benefit (DB) and hybrid occupational pension sector has, on average, insufficient assets to meet pension liabilities on the national balance sheet, both in the baseline and adverse market scenario.

December 13, 2017 WebPage Regulatory News
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CBRC to Actively and Steadily Promote the Opening Up of Banking Sector

CBRC is making changes to further open up the Chinese banking sector. CBRC is relaxing restrictions on the proportion of foreign ownership of Chinese banks and financial assets management companies other than private banks.

December 13, 2017 WebPage Regulatory News
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EBA Issues Opinion on Measures to Address Macro-Prudential Risk by CBC

EBA published an Opinion following the notification by the Central Bank of Cyprus (CBC) of its intention to apply stricter liquidity requirements to address an increase in macro-prudential risk, based on Article 458 of the Capital Requirements Regulation (CRR).

December 13, 2017 WebPage Regulatory News
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EBA Issues Final Technical Standards on Future EBA Register Under PSD2

EBA published the final draft regulatory and implementing technical standards on the EBA electronic central register under the Payment Services Directive (PSD2).

December 13, 2017 WebPage Regulatory News
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SARB Issues Directive D8/2017 on Matters Related to NSFR

SARB published a directive (D8/2017) that informs the relevant entities about matters related to the calibration of NSFR and the national discretion exercised in respect of specified items related to NSFR.

December 13, 2017 WebPage Regulatory News
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PRA Issues Policy Statement on Pillar 2A Capital Rules and Disclosure

PRA published the Policy Statement PS30/17, which provides feedback to the responses to the consultation paper CP12/17 on Pillar 2A capital requirements and disclosure.

December 12, 2017 WebPage Regulatory News
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PRA Consults on Changes to Solvency II Internal Models for Insurers

PRA launched a consultation paper (CP27/17) that proposes updated expectations of firms in respect of the model change process set out in the SS12/16 and internal model change policies set out in SS17/16 .

December 12, 2017 WebPage Regulatory News
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Valdis Dombrovskis of EC Speaks on Action Plan on Sustainable Finance

Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, Financial Stability, and Financial Services, spoke on the topic “Greening finance for sustainable business.” He highlighted that the Action Plan on sustainable finance will be presented in March next year.

December 12, 2017 WebPage Regulatory News
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IFC Bulletin on Data Needs and Statistics for Macroprudential Analysis

BIS published the IFC Bulletin Number 46, which presents the proceedings of the Irving Fisher Committee (IFC)-National Bank of Belgium Workshop on data needs and compilation of statistics for macro-prudential analysis.

December 12, 2017 WebPage Regulatory News
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EBA Issues Regulatory Standards on Central Contact Points Under PSD2

EBA published the final draft regulatory technical standards on Central Contact Points under the revised Payment Services Directive (PSD2).

December 11, 2017 WebPage Regulatory News
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EIOPA Releases Editable Template for IPID

EIOPA has worked with EC to develop an electronic and editable version of the IPID template in all official languages of the EU.

December 11, 2017 WebPage Regulatory News
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PRA Updates SS16/16 on MREL Buffers and Threshold Conditions

SS16/16 was updated following the consultation paper CP15/17 titled “The minimum requirement for own funds and eligible liabilities (MREL) – buffers.”

December 11, 2017 WebPage Regulatory News
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EIOPA Opinion on Consumer Protection Issues in Unit-Linked Market

EIOPA published an Opinion on monetary incentives and remuneration between providers of asset management services and insurers.

December 11, 2017 WebPage Regulatory News
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Andreas Dombret of Bundesbank on Internal Models in Banking Regulation

Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, spoke at the EBA Policy Research Workshop about the future of internal models in banking regulation.

December 11, 2017 WebPage Regulatory News
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APRA Announces Move from D2A to A New Data Collection Solution

APRA announced the commencement of a multi-year program of work to transform the way APRA collects, stores, accesses, and publishes data. As part of this, APRA is replacing the data submission tool Direct to APRA (D2A).

December 11, 2017 WebPage Regulatory News
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GAO Report on FHA Capital Requirements and Stress Testing Practices

The U.S. GAO published a report on the Federal Housing Administration's (FHA) budgetary reviews of the Mutual Mortgage Insurance Fund (MMI Fund).

December 11, 2017 WebPage Regulatory News
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PRA Publishes Supervisory Statement on Recovery Planning

PRA published the supervisory statement SS9/17 that sets out expectations on the content of recovery plans and group recovery plans. SS9/17 is relevant to UK banks, building societies, PRA-designated investment firms, and qualifying parent undertakings to which the Recovery Planning Part of the PRA Rulebook applies.

December 11, 2017 WebPage Regulatory News
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APRA Welcomes Finalization of Basel III Capital Framework for Banks

The announcement confirms that the final set of measures designed to address deficiencies in the internationally agreed capital framework, following the global financial crisis, and are primarily focused on addressing undue variability in risk-weighted assets, and therefore capital requirements, across banks.

December 08, 2017 WebPage Regulatory News
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EBA Issues Revised List of ITS Validation Rules in December 2017

The update highlights rules that have been deactivated either for incorrectness or for triggering IT problems.

December 08, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Second Update for December 2017

The key topics covered in the updates are related to supervisory reporting, including the treatment of expected loss amounts and reporting on loss adjustments.

December 08, 2017 WebPage Regulatory News
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ESMA to Update MiFID II Registers from January 2018

ESMA will compile the registers based on data provided by the national competent authorities of the member states of the European Economic Area (EEA), on and from January 03, 2018.

December 08, 2017 WebPage Regulatory News
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IAIS Consults on Activities-Based Approach to Systemic Risk for Insurers

IAIS released an interim public consultation paper on an activities-based approach to systemic risk in the insurance sector.

December 08, 2017 WebPage Regulatory News
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EIOPA Publishes Its Sixth Consumer Trends Report

The report outlines key developments in the insurance and pensions sectors that impact European consumers.

December 08, 2017 WebPage Regulatory News
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FED Plans for Three New Reference Rates Based on Overnight Repo Trade

FED announced final plans for the production of three new reference rates (namely SOFR, TGCR, and BGCR) based on overnight repurchase agreement (repo) transactions secured by Treasury securities.

December 08, 2017 WebPage Regulatory News
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IMF Publishes Reports on 2017 Article IV Consultation with Mauritius

IMF published its staff report and selected issues report in the context of the 2017 Article IV consultation with Mauritius.

December 08, 2017 WebPage Regulatory News
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PRA Publishes PS26/17 on Authorization and Supervision of ISPVs

PRA published the updated Policy Statement PS26/17 on the authorization and supervision of insurance special purpose vehicles (ISPVs).

December 08, 2017 WebPage Regulatory News
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BNM Issues Policy Document on Leverage Ratio Under Basel III Reforms

BNM published a policy document that sets out the leverage ratio framework for banking institutions, as part of the Basel III regulatory reforms.

December 08, 2017 WebPage Regulatory News
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APRA Releases Annual Paper on Countercyclical Capital Buffer

APRA released the annual Information Paper on the countercyclical capital buffer (CCyB). CCyB is designed to raise banking sector capital requirements in periods where excess credit growth is judged to be associated with the build-up of systemic risk. APRA is maintaining CCyB at 0%.

December 07, 2017 WebPage Regulatory News
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APRA Revises the Large Exposures Framework for Depository Institutions

APRA released a response paper setting out revisions to the prudential framework for large exposures of authorized deposit-taking institutions.

December 07, 2017 WebPage Regulatory News
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GHOS Finalizes Outstanding Basel III Regulatory Reforms

The oversight body of BCBS, which constitutes the Group of Central Bank Governors and Heads of Supervision (GHOS), has endorsed the outstanding Basel III post-crisis regulatory reforms.

December 07, 2017 WebPage Regulatory News
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BCBS Discussion Paper on Regulatory Treatment of Sovereign Exposures

BCBS completed its review of the regulatory treatment of sovereign exposures, without changes to current rules.

December 07, 2017 WebPage Regulatory News
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EBA Welcomes Final Basel III Reforms and Assesses Their Impact in EU

EBA also published a summary of the results of its study showing the impact of the agreed reforms on the EU banking sector.

December 07, 2017 WebPage Regulatory News
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ECB Approves ECMS Project and Consolidation of Settlement Systems

The Governing Council of ECB approved the consolidation of the Eurosystem’s real-time gross settlement system TARGET2 and the securities settlement platform TARGET2-Securities (T2S), along with the development of a Eurosystem Collateral Management System.

December 07, 2017 WebPage Regulatory News
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ESAs Amend Implementing Technical Standards on Mapping of ECAIs

The amendments reflect the recognition of five new credit rating agencies (CRAs) and the deregistration of one CRA.

December 07, 2017 WebPage Regulatory News
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FED Consults on Increasing Transparency of the Stress Testing Program

FED requested comment on a package of proposals that would increase the transparency of its stress testing program while maintaining the FED’s ability to test the resilience of the nation's largest and most complex banks.

December 07, 2017 WebPage Regulatory News
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European Council Adopts Creditor Hierarchy and IFRS 9 Rules for Banks

The European Council adopted two legislative acts on banking: the first is a directive on the ranking of unsecured debt instruments in insolvency proceedings (bank creditor hierarchy) and the second is a regulation on transitional arrangements to phase in the regulatory capital impact of IFRS 9.

December 07, 2017 WebPage Regulatory News
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FSB Welcomes Finalization of Basel III Reforms

FSB welcomes the announcement by the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS, that agreement has been reached on the finalization of Basel III.

December 07, 2017 WebPage Regulatory News
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IMF Statement on Basel III Bank Capital Standards

IMF welcomed the finalization of Basel III capital standards.

December 07, 2017 WebPage Regulatory News
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OSFI Welcomes Final Basel III Reforms

OSFI welcomed the announcement that the final pieces of the Basel III reforms have been endorsed by the Group of Central Bank Governors and Heads of Supervision, the committee that oversees the BCBS.

December 07, 2017 WebPage Regulatory News
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US Agencies Support Conclusion of Basel III Reforms

US Agencies (FDIC, FED, and OCC) announced their support for the conclusion of efforts to reform the international bank capital standards, which were initiated in response to the global financial crisis.

December 07, 2017 WebPage Regulatory News
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PRA Publishes Feedback for General Insurance Stress Test 2017

The letter summarizes the PRA feedback and the key findings of this exercise, along with suggestions about potential areas for improvements that impact underwriting, finance, and risk functions.

December 07, 2017 WebPage Regulatory News
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EC Welcomes Agreement on Basel III Post-Crisis Reforms

EC follows up on the agreement to further strengthen the international post-crisis rules for banks, by setting out its approach to these new rules in the EU.

December 07, 2017 WebPage Regulatory News
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EC Adopts Equivalence Decision for Derivatives Trading Venues in US

EC issued the Commission Implementing Decision (EU) 2017/2238 on the equivalence of legal and supervisory framework applicable to designated contract markets and swap execution facilities in the United States, in accordance with the Markets in Financial Instruments Regulation (MiFIR: Regulation (EU) No 600/2014).

December 06, 2017 WebPage Regulatory News
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EC Amends Rules on Reporting Templates and Instructions Under CRR

EC published the Commission Implementing Regulation on reporting templates and instructions.

December 06, 2017 WebPage Regulatory News
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PRA Consults on Model Risk Management Principles for Stress Testing

PRA published the consultation paper CP26/17, which sets out proposals to support effective practices in model risk management for stress testing.

December 06, 2017 WebPage Regulatory News
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FSB Publishes Peer Review of Korea

FSB published its peer review of Korea, which examined the crisis management and resolution framework, along with the regulation and supervision of non-bank depository institutions (NBDIs) in the country.

December 06, 2017 WebPage Regulatory News
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PRA Consults on Updates to Pillar 2 Reporting Requirements

PRA published the consultation paper CP25/17, which proposes updates to the Pillar 2 reporting requirements.

December 06, 2017 WebPage Regulatory News
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EC Issues Roadmap for Deepening Economic and Monetary Union in Europe

EC set out a roadmap, in addition to certain key measures, to deepen the Economic and Monetary Union (EMU) in Europe.

December 06, 2017 WebPage Regulatory News
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ESAs Issue Regulatory Standards to Enhance Management of ML/TF Risks

ESAs published a final report on joint draft regulatory technical standards specifying the way credit and financial institutions should manage money laundering and terrorist financing (ML/TF) risks.

December 06, 2017 WebPage Regulatory News
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FCA Announces List of Firms for Third Cohort of Regulatory Sandbox

FCA announced the list of firms that were successful in their applications to begin testing in the third cohort of the regulatory sandbox.

December 06, 2017 WebPage Regulatory News
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ESMA Updates Key Transitional Transparency Calculations Under MiFID II

ESMA published the MiFID II/MiFIR transitional transparency calculations (TTC) for equity and bond instruments.

December 06, 2017 WebPage Regulatory News
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IMF Concludes Financial Sector Stability Assessment with China

IMF published reports on the Financial System Stability Assessment (FSSA) and the detailed assessment of the observance (DAO) of standards and codes in China.

December 06, 2017 WebPage Regulatory News
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SRB Holds Second Annual Conference on Building Resolvability Together

SRB held, in Brussels, its second annual conference, “Building Resolvability Together,” and published a report describing the key developments and activities during the conference.

December 06, 2017 WebPage Regulatory News
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OFR Reports Examine Risks to Financial Stability in the United States

OFR published two reports examining risks to financial stability in the United States: the 2017 Annual Report to Congress and the 2017 Financial Stability Report.

December 05, 2017 WebPage Regulatory News
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Verena Ross of ESMA at Global Capital Markets Conference in London

Verena Ross, Executive Director of ESMA, gave a keynote address at the ICI 2017 Global Capital Markets Conference in London.

December 05, 2017 WebPage Regulatory News
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SRB Publishes First Multi-Annual Planning and Work Program

SRB published its first multi-annual programming document, including its Work Program for 2018. SRB sets out an ambitious roadmap for improving the resolvability of the banks under its remit over the next three years.

December 04, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: First Update for December 2017

The Single Rulebook updates for the first week of this month include two items, which are related to the transactions with maturities longer than 10 years and the scope of bail-in tool.

December 01, 2017 WebPage Regulatory News
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EC Consults on Fitness Check on Supervisory Reporting Requirements

EC launched a public consultation on fitness check on supervisory reporting, with the comment period ending on February 28, 2018.

December 01, 2017 WebPage Regulatory News
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VP of EC Speaks at EU-Asia Pacific Forum on Financial Regulation

The EC Vice President Valdis Dombrovskis spoke at the second annual EU-Asia Pacific Forum on Financial Regulation.

December 01, 2017 WebPage Regulatory News
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FINMA Revises Circular on Auditing, Makes Rules More Risk-Oriented

FINMA is consulting on revisions to the Circular 2013/03 on Auditing to ensure that auditing firms, who act on behalf of FINMA, operate in a more targeted manner in the future.

November 30, 2017 WebPage Regulatory News
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Danièle Nouy of ECB on Addendum to the Guidance to Banks on NPLs

Danièle Nouy, Chair of the ECB Supervisory Board, and Sharon Donnery, Chair of the ECB High Level Group on NPLs, spoke in Frankfurt about public consultation on the draft addendum to the ECB guidance to banks on non-performing loans (NPLs).

November 30, 2017 WebPage Regulatory News
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FSB Consults on Aspects of Guidance for Resolution Planning for G-SIBs

FSB is consulting on two proposals for guidance on the implementation of particular aspects of its Key Attributes of Effective Resolution Regimes for global systemically important banks (G-SIBs).

November 30, 2017 WebPage Regulatory News
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ECB Publishes Paper on Developing Macro-Prudential Policy for AIFs

ECB published a paper on developing macro-prudential policy for alternative investment funds (AIFs). This joint ECB-DNB occasional paper aims to inform the ongoing discussions about an EU-level framework for operationalizing macro-prudential leverage limits for alternative investment funds (AIFs).

November 30, 2017 WebPage Regulatory News
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Verena Ross of ESMA on Establishing a Common EU Third-Country Regime

Verena Ross, the Executive Director of ESMA, focused her remarks on the EU regulatory framework and the role of ESMA; work of ESMA toward further strengthening the third-country frameworks; and implications of the EU regulation (for example, MiFID II/MiFIR) on Asian firms.

November 30, 2017 WebPage Regulatory News
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MAS Amends Notice 637 on Capital Adequacy Requirements for Banks

MAS amended Notice 637 on risk-based capital adequacy requirements for banks incorporated in Singapore and the amendments shall take effect on January 01, 2018.

November 29, 2017 WebPage Regulatory News
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BaFin Publishes Indicative Position Limits for Commodity Derivatives

BaFin published the list of indicative position limits for commodity derivatives under the second Markets in Financial Instruments Directive (MiFID II).

November 29, 2017 WebPage Regulatory News
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ECB Issues Guideline on Procedures for Collection of AnaCredit Data

ECB published a guideline (ECB/2017/38) on the procedures for collection of granular credit and credit risk data, pursuant to the AnaCredit Regulation (EU Regulation 2016/867).

November 29, 2017 WebPage Regulatory News
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ECB Issues the Results of Financial Stability Review

The financial stability review assesses developments relevant for financial stability, including identifying and prioritizing the main sources of systemic risk and vulnerabilities for the euro area financial system.

November 29, 2017 WebPage Regulatory News
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ESMA Releases Peer Review Results for Compliance Function Under MiFID

ESMA published the results of its Peer Review on the guidelines on certain aspects of the compliance function under Markets in Financial Instruments Directive (MiFID).

November 29, 2017 WebPage Regulatory News
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OSFI Releases Final Version of CAR Guideline for 2018

OSFI is releasing the final version of the Capital Adequacy Requirements (CAR) Guideline for implementation in the first quarter of 2018.

November 29, 2017 WebPage Regulatory News
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DNB Issues Banking Newsletter for November 2017

DNB issued the banking newsletter for November 2017. This month’s issue focuses on vision for supervision 2018-2022.

November 29, 2017 WebPage Regulatory News
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DNB Issues Insurance Newsletter for November 2017

This issue highlights that DNB adopted its Vision on Supervision 2018-2022, with the key focus areas being technological innovation combined with sustainability and orientation toward future, proportionality of supervision, and financial position of the insurers, mainly solvency of life and funeral insurers.

November 29, 2017 WebPage Regulatory News
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OCC Adopts Rule on Mandatory Contractual Stay Requirements for QFCs

OCC adopted the final rule on mandatory contractual stay requirements for qualified financial contracts (QFCs).

November 29, 2017 WebPage Regulatory News
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EC Issues Rules Supplementing MiFIR on Liquidity of Package Orders

EC published the Commission Delegated Regulation (EU) 2017/2194 on markets in financial instruments with regard to package orders.

November 28, 2017 WebPage Regulatory News
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BoE Announces Results of the 2017 Stress Test on Banks

BoE announced the results of its 2017 stress test of the banking system in the UK. For the first time since this stress test was launched in 2014, no bank needs to strengthen its capital position as a result of the stress test.

November 28, 2017 WebPage Regulatory News
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BoE Publishes the Financial Stability Report for 2017

The Financial Policy Committee (FPC) of BoE published the financial stability report for 2017, in addition to the results of its 2017 stress test for the banking sector in the UK.

November 28, 2017 WebPage Regulatory News
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ECB Consults on Developing a Euro Unsecured Overnight Interest Rate

ECB is consulting on developing a new euro unsecured overnight interest rate. It is calling on market participants and all other interested parties to provide comments on the high-level features of the new unsecured overnight interest rate.

November 28, 2017 WebPage Regulatory News
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EC Vice President on Tackling Challenges in Banking Sector in Europe

The EC Vice President Valdis Dombrovskis highlighted the post-crisis achievements in areas such as Banking Union, single rulebook, and supervisory and resolution mechanisms, in addition to the challenges that still remain—particularly in the context of small and medium-size banks.

November 28, 2017 WebPage Regulatory News
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SARB Issues Directive on Submission of Regulatory Return by D-SIBs

SARB published a directive (D7/2017) that specifies information for submission of regulatory and economic capital information by domestic systemically important banks and controlling companies (D-SIBs) on a biannual basis.

November 28, 2017 WebPage Regulatory News
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EBA Repeals Guidelines on Retail Deposits with Different Outflows

EBA is formally repealing the guidelines that specify the criteria for identifying retail deposits subject to different outflows, for the purpose of liquidity reporting.

November 27, 2017 WebPage Regulatory News
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EC Adopts Regulatory Standards on Customer Authentication Under PSD2

EC is adopting the regulatory technical standards on customer authentication, which will make electronic payments in shops and online safer.

November 27, 2017 WebPage Regulatory News
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ECB Article on Overcoming NPL Failures with Transaction Platforms

ECB published a special feature on overcoming nonperforming loan (NPL) market failures with transaction platforms. This feature is part of the financial stability review of November 2017.

November 27, 2017 WebPage Regulatory News
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IAIS Newsletter for November 2017

The key highlight is the conclusion of the IAIS Annual Conference and General Meeting.

November 27, 2017 WebPage Regulatory News
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BDE Circular on Conforming with Changes from Adoption of IFRS 15 and 9

BDE published Circular 4/2017 to credit institutions on rules of public and reserved financial information and on models of financial statements.

November 27, 2017 WebPage Regulatory News
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EC Amends Rules on Procedures, Formats, and Templates of SFCR

EC published the Commission Implementing Regulations (CIRs) 2017/2189 and 2017/2190, which shall enter into force on the twentieth day following that of their publication in the Official Journal of the European Union.

November 25, 2017 WebPage Regulatory News
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EC Amends Waiver on Own Funds Requirements for Covered Bonds Under CRR

EC published the Commission Delegated Regulation (EU) 2017/2188 on the waiver on own funds requirements for certain covered bonds.

November 25, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Fourth Update for November 2017

The Single Rulebook updates for the third week of this month include nine items.

November 24, 2017 WebPage Regulatory News
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CBRC Consults on Revised IRRBB Guidelines for Banks

CBRC is consulting on the revised guidelines for interest rate risk in the banking book (IRRBB) for commercial banks.

November 24, 2017 WebPage Regulatory News
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Danièle Nouy of ECB on Role of Banking Supervision in NPL Resolution

Danièle Nouy, Chair of the ECB Supervisory Board, spoke in Frankfurt about the progress of the European banking supervision over the past three years, along with the path forward.

November 24, 2017 WebPage Regulatory News
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EBA Publishes Report on Risks and Vulnerabilities in EU Banking Sector

EBA published its tenth report on risks and vulnerabilities in the banking sector in EU.

November 24, 2017 WebPage Regulatory News
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ECB Publishes the Fourth Eurosystem Oversight Report 2016

The report describes the way the Eurosystem has exercised its oversight responsibilities and conducted oversight activities in the period from June 2014 (which was when the earlier oversight report was completed) to the end of 2016.

November 24, 2017 WebPage Regulatory News
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ECB Publishes Thematic Report Assessing IFRS 9 Implementation by Banks

The report also outlines key supervisory expectations for the ongoing implementation and application of IFRS 9. The supervisory expectations considered in this thematic review are consistent with the international best practices and supervisory guidance issued by BCBS and EBA.

November 24, 2017 WebPage Regulatory News
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HKMA Revises Module IC-7 on Use of Commercial Credit Data Through CCRA

HKMA published the revised Supervisory Policy Manual (SPM) Module IC-7 on sharing and use of commercial credit data through a commercial credit reference agency (CCRA).

November 24, 2017 WebPage Regulatory News
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IOSCO Publishes Report on the Fourth Hedge Fund Survey

IOSCO published a report that presents the results of its fourth hedge fund survey. It provides an overview of the global hedge fund industry, based on data as of September 30, 2016.

November 23, 2017 WebPage Regulatory News
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SARB Publishes Directive on Specific Capital Issuances and Redemptions

SARB published the directive D6/2017 specifying additional requirements for submission of applications regarding certain capital issuances and redemptions.

November 23, 2017 WebPage Regulatory News
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FSB Issues Responses to Proposal on Governance Arrangements for UPI

FSB published the responses received to its consultation on the proposed governance arrangements for the Unique Product Identifier (UPI).

November 23, 2017 WebPage Regulatory News
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BIS Publishes a Working Paper on CoCo Issuance and Bank Fragility

BIS published a working paper on the issuance of contingent convertible capital securities (CoCos) and bank fragility.

November 22, 2017 WebPage Regulatory News
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Monitoring Group Proposes International Audit Standard Setting Reforms

BCBS welcomed and published the consultation of the Monitoring Group on strengthening the governance and oversight of the international audit-related standard-setting boards in public interest.

November 22, 2017 WebPage Regulatory News
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OFR Offers Updates on the Bilateral Repo Collection Initiative

Stacey Schreft, the Deputy Director for Research and Analysis at the OFR, updated the FSOC on the bilateral repo collection initiative of OFR at the meeting of the principals of the FSOC.

November 22, 2017 WebPage Regulatory News
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SRB Publishes Sixth Industry Dialog Presentations

SRB organized the sixth Industry Dialog in Brussels on November 21, 2017. It brought together representatives from EU-level and national banking federations from Banking Union countries, representatives from national resolution authorities, the EC, European Parliament, and ECB.

November 22, 2017 WebPage Regulatory News
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Bundesbank Updates Validation Rules Handbook and Q&A on AnaCredit

Deutsche Bundesbank published Version 10.0 of the structured questions and answers (Q&A) on AnaCredit. Bundesbank also published Version 2.0 of the handbook on AnaCredit Validation Rules.

November 22, 2017 WebPage Regulatory News
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BCBS Releases Further Details on the 2017 G-SIB Assessment Methodology

BCBS released further details on the 2017 assessment methodology for global systemically important banks (G-SIBs).

November 21, 2017 WebPage Regulatory News
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EC Issues Regulations on Standards for Indirect Clearing Arrangements

EC published the Commission Delegated Regulations (CDRs) 2017/2154 and 2017/2155, which are focused on regulatory technical standards on indirect clearing arrangements.

November 21, 2017 WebPage Regulatory News
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FSB Issues List of G-SIBs for 2017

FSB published the 2017 list of global systemically important banks (G-SIBs). To identify the G-SIBs, FSB used end-2016 data and an assessment methodology designed by BCBS.

November 21, 2017 WebPage Regulatory News
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MAS Consults on the Proposed Payment Services Bill

MAS published second consultation on the proposed payments regulatory framework, known as the Payment Services Bill.

November 21, 2017 WebPage Regulatory News
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Sabine Lautenschläger of ECB on Challenges Facing EU Banking Sector

Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the ECB Supervisory Board, spoke about the big challenges facing the banking sector in Europe.

November 21, 2017 WebPage Regulatory News
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US Agencies to Retain Transitions for Non-Advanced Approaches Banks

US Agencies (FDIC, FED, and OCC) are adopting the final rule to extend the regulatory capital treatment applicable during 2017, under the regulatory capital rules for certain items.

November 21, 2017 WebPage Regulatory News
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VP of EC on Working Toward Resilient and Integrated Financial Sector

During the structured dialog with the ECON Committee, the EC Vice President (VP) Valdis Dombrovskis discussed planned and ongoing work to make the financial sector in Europe more resilient and integrated.

November 21, 2017 WebPage Regulatory News
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EBA Publishes Annual Report on Convergence of Supervisory Practices

EBA published the third annual report on the convergence of supervisory practices across EU, in accordance with Article 107 of the Capital Requirements Directive (CRD: Directive 2013/36/EU).

November 21, 2017 WebPage Regulatory News
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SARB Issues Directive for Classification of Impairments under IFRS 9

SARB issued a directive (D5/2017) for banks and bank auditors on the classification of impairments as either general or specific under IFRS 9.

November 21, 2017 WebPage Regulatory News
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ESMA Updates Q&A Related to Market Abuse Regulation

The updated Q&A document includes two new answers on managers’ transactions, addressing in particular trading during closed periods by persons discharging managerial responsibilities (PDMRs).

November 21, 2017 WebPage Regulatory News
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EBA Guidelines on Estimation of Risk Parameters Under IRB Approach

EBA published the final guidelines on the estimation of risk parameters for non-defaulted exposures and on the treatment of defaulted exposures under the advanced internal ratings-based (IRB) approach.

November 20, 2017 WebPage Regulatory News
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ESMA Issues Clarification on the Rotation Periods of CRA Analysts

ESMA updated its questions and answers (Q&A) on the application of the credit rating agencies (CRA) Regulation, adding a new section on Organizational Requirements.

November 20, 2017 WebPage Regulatory News
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European Council Adopts Regulations on Securitization

The European Council adopted the regulation on capital requirements for positions in securitization and the regulation on securitization and on criteria for simple, transparent, and standardized (STS) products.

November 20, 2017 WebPage Regulatory News
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ESMA Updates Q&A on Reporting to Trade Repositories Under EMIR

The updated Q&A document includes new and updated answers related to reporting to trade repositories.

November 20, 2017 WebPage Regulatory News
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EBA Issues Update on List of CET1 Instruments Compliant Under CRR

EBA published its sixth updated list of capital instruments that the competent authorities across the EU have classified as common equity tier 1 (CET1).

November 17, 2017 WebPage Regulatory News
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EBA Publishes Methodology for the 2018 EU-Wide Stress Test

The methodology covers all relevant risk areas and, for the first time, incorporates IFRS 9 accounting standards.

November 17, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Third Update for November 2017

The key topics covered in the Q&A updates are O-SII buffer on individual and consolidated level, inconsistency in validation rules, foreign exchange risk, FINREP IFRS 9, and reporting requirements.

November 17, 2017 WebPage Regulatory News
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ESMA Clarifies Endorsement Regime for Third-Country Credit Ratings

ESMA published the final report updating its guidelines on the application of the endorsement regime under the Credit Rating Agencies (CRA) Regulation.

November 17, 2017 WebPage Regulatory News
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EC Issues Rules on Trading Obligation for Derivatives Under MiFID II

EC issued new regulatory technical standards that specify which derivatives should be subject to the trading obligation under the Markets in Financial Instrument Regulation (MiFIR).

November 17, 2017 WebPage Regulatory News
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ESMA Consults on Calculation of Derivative Positions by Repositories

ESMA published, for public consultation, draft guidelines on the calculation of derivative positions by trade repositories authorized in the EU under the European Market Infrastructure Regulation (EMIR).

November 17, 2017 WebPage Regulatory News
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ESMA Publishes Final Report on Money Market Funds Regulation

The final report contains final versions of the technical advice, implementing technical standards, and guidelines on stress test scenarios carried out by money market fund (MMF) managers under the MMFR.

November 17, 2017 WebPage Regulatory News
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IMF Publishes Reports on the 2017 Article IV Consultation with Sweden

IMF published its staff report and selected issues report in the context of the 2017 Article IV consultation with Sweden.

November 17, 2017 WebPage Regulatory News
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ESMA Updates Q&A on Implementation of CSDR

This update provides detailed answers on certain aspects of relevant authorities, conduct of business rules, protection of securities, and prudential requirements on operational risk

November 17, 2017 WebPage Regulatory News
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RBNZ Consults on Residential Mortgage Obligations Standard

RBNZ is proposing an enhanced mortgage bond standard that aims to support confidence and liquidity in the financial system; this follows a review of domestic and international mortgage bond collateral standards.

November 17, 2017 WebPage Regulatory News
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Bundesbank Updates Reporting Instructions Related to AnaCredit

Bundesbank updated its AnaCredit information repository, with reporting instructions related to the AnaCredit project.

November 17, 2017 WebPage Regulatory News
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Andreas Dombret of Bundesbank Spoke on Basel III Compromise and Beyond

Andreas Dombret discussed the recent compromises reached on Basel III, also reflecting on the finalization of Basel III regulations, the future challenges to be faced, and the ways to ease the burden on banks.

November 16, 2017 WebPage Regulatory News
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BCL Publishes Instructions, Dates, and Agents for AnaCredit Reporting

The Central Bank of Luxembourg (BCL) published reporting instructions, reporting dates, and list of reporting agents for AnaCredit.

November 16, 2017 WebPage Regulatory News
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ESMA Updates Q&A on Transparency Issues Under MiFID/MiFIR

The updated Q&A include new answers on pre- and post-trade transparency, along with equity and non-equity instruments; systematic internalisers; data reporting service providers; and third-country issues.

November 15, 2017 WebPage Regulatory News
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ESMA Updates Q&As on Market Structure Issues Under MiFID II/MiFIR

The updated Q&A include new answers on tick-size regime; Direct Electronic Access; and multilateral systems.

November 15, 2017 WebPage Regulatory News
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BCRA Updates Minimum Capital Requirement and Information Regimes

BCRA, the central bank of Argentina, published updated rules on minimum capital requirements for financial entities, along with certain aspects of the information transparency regime.

November 15, 2017 WebPage Regulatory News
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CBRC Issues Measures for Supervision of Three Policy Banks

CBRC issued measures for the supervision and administration of China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China.

November 15, 2017 WebPage Regulatory News
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EBA Republishes Taxonomy 2.7 for Remittance of Supervisory Reporting

EBA published a corrective update (2.7.0.1) to the XBRL taxonomy, which competent authorities shall use for the remittance of data under the EBA implementing technical standards on supervisory reporting.

November 15, 2017 WebPage Regulatory News
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ESRB Working Paper on Syndicated Loans and CDS Positioning

ESRB published a working paper that analyzes banks’ usage of credit default swaps (CDS).

November 15, 2017 WebPage Regulatory News
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EBA Reviews Compliance with Guidance on O-SII Identification Criteria

EBA published the final report on the peer review that evaluated the implementation of the EBA guidelines on the criteria for the assessment and identification of other systemically important institutions (O-SIIs) across the EU.

November 15, 2017 WebPage Regulatory News
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EBA Issues Annual Assessment of Consistency of Internal Model Outcomes

EBA published two reports on the consistency of risk-weighted assets (RWAs) across all EU institutions authorized to use internal approaches for the calculation of capital requirements.

November 14, 2017 WebPage Regulatory News
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EBA Publishes Final Guidance on Treatment of Connected Clients

EBA published its final guidelines on the treatment of connected clients as defined in the Capital Requirements Regulation (CRR; EU Regulation No 575/2013).

November 14, 2017 WebPage Regulatory News
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ESMA Updates Q&A on Commodity Derivatives Under MiFID II/MiFIR

The updated Q&A include new answers regarding position limits, ancillary activities, and position reporting.

November 14, 2017 WebPage Regulatory News
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ESMA Updates Q&A on Data Reporting Under MiFID II/MiFIR

The updated document provides clarifications on transaction reporting for primary issuances, corporate events, portfolio management, and swaps related to indices.

November 14, 2017 WebPage Regulatory News
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EBA Acknowledges EC Adoption of Amended Supervisory Reporting Standard

EBA acknowledged the adoption by the EC of the Implementing Act amending Regulation (EU) No 680/2014 on implementing technical standards on supervisory reporting.

November 14, 2017 WebPage Regulatory News
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RBNZ Consults on Changes to Disclosure Requirements for Banks

BNZ is consulting on changes to the disclosure requirements for registered banks. RBNZ also confirmed the previously signaled policy decision on the Dashboard approach for quarterly disclosures for locally incorporated banks.

November 14, 2017 WebPage Regulatory News
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EIOPA Q&A on Regulations: First Update for November 2017

EIOPA published new sets of questions and answers (Q&A) on implementing and delegating regulations, mostly relevant to Solvency II.

November 13, 2017 WebPage Regulatory News
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BaFin Updates Q&A on Capital Requirements Deduction for Credit Risk

BaFin published a question and answer (Q&A) related to capital requirements deduction for credit risk on exposures to small and medium-size enterprises (SMEs).

November 13, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Second Update for November 2017

The Single Rulebook updates for the second week of this month include five items.

November 10, 2017 WebPage Regulatory News
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ECB Opinions on Capital Requirements and Crisis Management Frameworks

ECB published opinions on amendments to the EU framework for capital requirements of credit institutions and investment firms (CON/2017/46) and on revisions to the Union crisis management framework (CON/2017/47).

November 10, 2017 WebPage Regulatory News
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EC Consults on Minimum Coverage Requirements Related to NPLs

EC issued a consultation on the minimum levels of capital that EU banks must set aside to cover incurred and expected losses on newly originated loans that turn non-performing.

November 10, 2017 WebPage Regulatory News
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PRA Consults on Modeling of the Matching Adjustment Under Solvency II

CP24/17 seeks feedback on a draft supervisory statement setting out PRA’s proposed expectations from firms on the application of Solvency II matching adjustment within the calculation of the Solvency Capital Requirement (SCR).

November 10, 2017 WebPage Regulatory News
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IAIS Issues Multiple Revised ICPs and Consults on ICPs 15, 16, and 8

IAIS is consulting on the revised ICP 15; ICP 16; ICP 8; ComFrame materials integrated with the respective ICPs; and proposed definitions of enterprise risk management (ERM)-related terms. IAIS also issued multiple draft revised ICPs and the updated ICP documents for November 2017.

November 10, 2017 WebPage Regulatory News
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IMF Publishes Reports on 2017 Article IV Consultation with Philippines

IMF published its staff report and selected issues report in the context of the 2017 Article IV consultation with Philippines.

November 10, 2017 WebPage Regulatory News
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Yves Mersch of ECB Speaks on Evolving Regulatory Environment for CCPs

Yves Mersch, Member of the Executive Board of the ECB, discussed the evolving regulatory environment for central counterparties (CCPs).

November 10, 2017 WebPage Regulatory News
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Bundesbank Updates Guide on AnaCredit Validation Rules

Deutsche Bundesbank updated the Handbook on AnaCredit Validation Rules in November 2017.

November 10, 2017 WebPage Regulatory News
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APRA Proposes Revisions to APS 330 Related to Public Disclosure

APRA proposed revisions to the Prudential Standard APS 330 Public Disclosure (APS 330).

November 09, 2017 WebPage Regulatory News
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EBA Consults on Standards for the Methods of Prudential Consolidation

EBA consults on draft regulatory technical standards specifying the different methods of prudential consolidation, which can be applied when certain conditions and criteria are met.

November 09, 2017 WebPage Regulatory News
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EBA Opinion and Report on Regulatory Perimeter Issues Under CRD IV/CRR

EBA published an opinion and a report on matters related to the other financial intermediaries (OFIs) and the regulatory perimeter issues under the Capital Requirements Directive/Regulation (CRD IV/CRR).

November 09, 2017 WebPage Regulatory News
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EC Amends Regulations Related to IAS 12 and 7 Plus IFRS 16, 15, and 4

EC published Regulations (EU) 2017/1986 to 1990, which adopt certain international accounting standards in accordance with Regulation (EC) No 1606/2002 with regard to the International Financial Reporting Standards (IFRS) 16, 15, and 4, along with the International Accounting Standards (IAS) 12 and 7.

November 09, 2017 WebPage Regulatory News
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ECB Vice President on Future of Finance and Outlook for Regulation

Vítor Constâncio, the ECB Vice President, spoke at the Financial Regulatory Outlook Conference on issues related to regulation and the future of finance.

November 09, 2017 WebPage Regulatory News
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ECB on Supervisory and Statistical Granular Data Modeling at CNB

ECB published statistics paper series on supervisory and statistical granular data modeling at the Croatian National Bank (CNB). Croatia is one the countries that has already implemented integrated statistical and supervisory reporting requirements at a granular level.

November 09, 2017 WebPage Regulatory News
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European Parliament on Sovereign Concentration Charges Regulation

The paper makes a concrete proposal for a Sovereign Concentration Charges Regulation (SCCR), including calibration and careful transitional arrangements to avoid any disorderly market impact.

November 09, 2017 WebPage Regulatory News
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PRA Consults on Financial Management and Planning by Insurers

PRA published the consultation paper CP23/17 on financial management and planning by insurers.

November 09, 2017 WebPage Regulatory News
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IAIS Publishes Application Paper on Group Corporate Governance

IAIS published an application paper on group corporate governance, along with the resolution of comments on the March 2017 consultation on this topic.

November 09, 2017 WebPage Regulatory News
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US Agencies Propose Revisions to Call Reports FFIEC 051, 041 and 031

The US Agencies (FDIC, FED, and OCC) proposed additional burden-reducing revisions to three Consolidated Reports of Condition and Income (Call Report)— that is, FFIEC 051, FFIEC 041, FFIEC 031.

November 09, 2017 WebPage Regulatory News
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IAIS Concludes 24th Annual Conference and General Meeting

At the General Meeting, Members approved the 2016 Annual Report; revisions to Insurance Core Principle (ICP) 13: Reinsurance and Other Forms of Risk Transfer; ICP 18: Intermediaries; and ICP 19: Conduct of Business.

November 09, 2017 WebPage Regulatory News
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ECB Issues Paper on Tracing Structured Finance Counterparty Networks

The paper traces and describes the connection between issuers and service providers, using a new database covering the majority of public asset-backed securities (ABSs) and covered bonds (CBs) outstanding between August 2008 and March 2017.

November 08, 2017 WebPage Regulatory News
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IOSCO Report on Implementing FSB Recommendations on Securities Markets

IOSCO published report on implementation of the G20/FSB post-crisis recommendations aimed at strengthening securities markets.

November 08, 2017 WebPage Regulatory News
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OCC Proposes Revisions to DFAST Regulatory Reporting Requirements

OCC is requesting comments on the proposed revisions to the regulatory reporting requirements for national banks and federal savings associations.

November 08, 2017 WebPage Regulatory News
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OSFI Consults on Amendments to the Corporate Governance Guideline

The guidance sets out expectations for boards of federally regulated financial institutions (FRFIs). It applies to all FRFIs other than the branch operations of foreign banks and foreign insurance companies.

November 07, 2017 WebPage Regulatory News
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EP Briefing on the Public Hearing with Danièle Nouy of ECB

European Parliament (EP) prepared a note in view of a regular public hearing with Danièle Nouy, the Chair of the Supervisory Board of the ECB, as referred to in Single Supervisory Mechanism (SSM; Regulation 1024/2013) and the Inter-institutional Agreement between European Parliament and ECB.

November 07, 2017 WebPage Regulatory News
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Mario Draghi of ECB on Progress with European Banking Supervision

The ECB President Mario Draghi spoke at the second ECB Forum on Banking Supervision. During his speech, he discussed the accomplishments of European banking supervision in three years.

November 07, 2017 WebPage Regulatory News
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EIOPA Consults on Second Set of Advice for Review of SCR Calculation

EIOPA published a consultation paper on the second set of advice for review of the Solvency Capital Requirement (SCR) of Solvency II, as foreseen in the Directive and its Delegated Acts.

November 06, 2017 WebPage Regulatory News
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Valdis Dombrovskis of EC on the Joint MoU on Baltic Capital Markets

The EC Vice President Valdis Dombrovskis spoke, in Brussels, on the signing ceremony of the Memorandum of Understanding (MoU) on Baltic capital markets.

November 06, 2017 WebPage Regulatory News
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Yves Mersch of ECB Speaks on Challenges Facing European Banking Sector

Yves Mersch, Member of the Executive Board of the ECB, spoke about the structural, regulatory, and technological challenges for the transforming European markets.

November 06, 2017 WebPage Regulatory News
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APRA Proposes to Amend Requirements of LPS 230 Related to Reinsurance

APRA proposed to amend the requirements of Prudential Standard LPS 230: Reinsurance (LPS 230), specifically as they relate to financial reinsurance.

November 03, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: First Update for November 2017

The Single Rulebook update for the first week of this month includes four items.

November 03, 2017 WebPage Regulatory News
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IOSCO Updates Peer Reviews on Regulation of MMFs and Securitization

IOSCO published updated reports on the IOSCO peer review on regulation of money market funds (MMF) and on the implementation of incentive alignment recommendations for securitization.

November 03, 2017 WebPage Regulatory News
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PRA Consults on Supervisory Approval for Use of Volatility Adjustment

PRA published consultation paper (CP22/17) on supervisory approval for the use of volatility adjustment under Solvency II.

November 03, 2017 WebPage Regulatory News
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IAIS Announces Unified Path to Convergence on ICS Version 2.0

IAIS announced a unified path to convergence of group capital standards to further its goal of a single Insurance Capital Standard (ICS), with the aim to achieve comparable outcomes across jurisdictions.

November 02, 2017 WebPage Regulatory News
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OFR Paper Examining the Vulnerability of CCPs in Derivatives Market

OFR published a working paper that examines the likelihood that a central counterparty (CCP) will default after a severe credit shock.

November 02, 2017 WebPage Regulatory News
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Richard Berner of OFR Speaks on Globalization and Financial Stability

Richard Berner, Director of OFR, spoke about challenges in the area of globalization and financial stability policy, at the IMF 18th Jacques Polak Annual Research Conference on The Global Financial Cycle in Washington DC.

November 02, 2017 WebPage Regulatory News
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EBA Publishes Final Guidance on Supervision of Significant Branches

EBA published the final guidelines on supervision of significant branches. These guidelines will facilitate cooperation and coordination of supervision of the largest and systemically important branches, the so-called “significant-plus” branches.

November 01, 2017 WebPage Regulatory News
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EBA Recommends Proportionate Approach in Entity Coverage Recovery Plan

EBA published its final recommendation on the coverage of entities in banking group recovery plans.

November 01, 2017 WebPage Regulatory News
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ESRB Issues Paper on Macro Approach to International Bank Resolution

ESRB published a working paper proposing a macro approach to bank resolution. The paper aims to investigate the impact of resolution measures in calm times and during crises.

November 01, 2017 WebPage Regulatory News
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FSB on Financial Stability Implications of AI and Machine Learning

FSB published a report examining the financial stability implications of the growing use of artificial intelligence (AI) and machine learning in financial services.

November 01, 2017 WebPage Regulatory News
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PRA and FCA Issue Framework for Authorization and Supervision of ISPVs

PRA and FCA published their final approach and expectations in relation to the authorization and supervision of Insurance Special Purpose Vehicles (ISPVs), subject to the Risk Transformation Regulations 2017 (RTR) being passed through parliament.

November 01, 2017 WebPage Regulatory News
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ESMA Publishes 21st Extract on Enforcement Decisions

ESMA published an extract from its confidential database of enforcement decisions on financial statements.

October 31, 2017 WebPage Regulatory News
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EBA Consults on Guidelines for Strengthening Pillar 2 Framework

EBA launched a public consultation to review three guidelines aimed at further enhancing institutions' risk management and supervisory convergence in the Supervisory Review and Evaluation Process (SREP).

October 31, 2017 WebPage Regulatory News
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FINMA Revises Circulars on Changes to IFRS and Basel III Rules

FINMA modified several bank-related circulars in accordance with the changes in International Financial Reporting Standards (IFRS) and Basel III rules.

October 31, 2017 WebPage Regulatory News
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IMF Issues Paper on Liquidity Stress Tests for Investment Funds

The paper discusses practical aspects related to the calibration of the redemption shock, the measurement of liquidity buffers, and the assessment of resilience of investment funds.

October 31, 2017 WebPage Regulatory News
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OFR on Maturity Mismatch Risk in MMF Industry and FHLBank System

OFR published a working paper examining the intersection of U.S. money market mutual fund (MMF) reforms, bank liquidity requirements, and the federal home loan bank (FHLBank) system.

October 31, 2017 WebPage Regulatory News
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SNB Releases Reporting Forms for SIBs Under Basel III

SNB released forms for reporting of capital adequacy of systemically important banks (SIBs) under Basel III.

October 31, 2017 WebPage Regulatory News
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EBA on Implementation and Transposition of the CRD IV Package

EBA updated the information disclosed by EU competent authorities according to its implementing technical standards on supervisory disclosure, which were published in the Official Journal of the European Union on June 04, 2014.

October 30, 2017 WebPage Regulatory News
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EC Vice President on Completing the Banking Union

During the keynote speech at the Inter-parliamentary Conference on Stability, Economic Coordination, and Governance in the EU, the EC Vice President Valdis Dombrovskis highlighted that "completing the Banking Union and the Capital Markets Union are the most immediate priorities for future reform."

October 30, 2017 WebPage Regulatory News
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NCUA Amends Capital Planning and Stress Testing Regulations

The NCUA Board proposes to amend its regulations on capital planning and stress testing for federally insured credit unions with USD 10 billion or more in assets (covered credit unions).

October 30, 2017 WebPage Regulatory News
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EBA Announces Timeline for the 2018 EU-Wide Stress Test

EBA announced the final timeline for the 2018 EU-wide stress test, as agreed by the Board of Supervisors of EBA in its meeting.

October 30, 2017 WebPage Regulatory News
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EIOPA Recommends Simplification to SCR Calculation Under Solvency II

EIOPA recommended simplifications and improvements to the calculation of Solvency Capital Requirement (SCR) standard formula. With this, EIOPA submitted its first set of Advice to EC on the review of specific items in the Solvency II Delegated Regulation.

October 30, 2017 WebPage Regulatory News
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ESMA Publishes Q&A on Implementation of APM Guidelines

ESMA published questions and answers (Q&A) on the implementation of its guidelines on the Alternative Performance Measures (APMs) for listed issuers.

October 30, 2017 WebPage Regulatory News
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EBA Consults on Requirements for Home-Host Cooperation Under PSD2

EBA launched a public consultation on draft regulatory technical standards specifying the framework for cooperation and exchange of information between competent authorities under the revised Payment Services Directive (PSD2).

October 27, 2017 WebPage Regulatory News
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OCC Proposes Revisions to its Stress Testing Rule

OCC is inviting comment on a proposed rule that would make several revisions to its stress testing rule.

October 27, 2017 WebPage Regulatory News
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IAIS Newsletter for October 2017

IAIS published the October issue of its newsletter, which highlights updates on the review and refresh of the IAIS Core Curriculum. This refresh updates and expands material for use by all IAIS members.

October 27, 2017 WebPage Regulatory News
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BaFin Publishes Minimum Requirements for Risk Management of Banks

BaFin and Deutsche Bundesbank published Circular 09/2017 on the minimum requirements for risk management of banks (also called MaRisk).

October 27, 2017 WebPage Regulatory News
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AnaCredit Updates for France, Ireland, and Italy in October 2017

In October, the Bank of France; the Central Bank of Ireland; and the Bank of Italy published updates related to AnaCredit.

October 27, 2017 WebPage Regulatory News
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DNB Issues the Banking Newsletter for October 2017

This month's issue focuses on the ongoing preparations for Brexit in the UK, expected delay in the implementation of Payment Services Directive (PSD2), DNB survey to investigate the unintended effects of regulation, reporting of securitization transactions to DNB, and conclusions from the 2018 stress test.

October 26, 2017 WebPage Regulatory News
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EC FAQ on Obtaining Brokerage and Research Services Via Non-EU Brokers

EC published guidance through its frequently asked questions (FAQ) that clarify how EU investment firms should interact when they seek brokerage and research services from broker-dealers in non-EU countries.

October 26, 2017 WebPage Regulatory News
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EC Report on Policy Actions in the EU in Response to Financial Crisis

The report outlines the policy actions taken by EU countries in the financial sector between 2008 and 2015, in response to the global financial crisis.

October 26, 2017 WebPage Regulatory News
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MAS Proposes Liquidity Risk Framework for Fund Management Companies

MAS proposed to introduce a liquidity risk management framework for fund management companies, with respect to the collective investment schemes (CIS) that they manage.

October 26, 2017 WebPage Regulatory News
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Third Report of U.S. Treasury on Principles for Financial Regulation

The U.S. Department of the Treasury released a report that examines the current regulatory framework for the asset management and insurance industries and makes recommendations to ensure the regulatory framework is aligned with the Administration's Core Principles for financial regulation.

October 26, 2017 WebPage Regulatory News
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OFR Paper on a Multifactor Approach to Identifying Systemic Banks

OFR published a Viewpoint paper examining the use of a multifactor approach to identify the systemically important banks.

October 26, 2017 WebPage Regulatory News
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BCBS Issues Guidance on Identification and Management of Step-In Risk

The guidelines aim to mitigate significant step-in risk through a supervisory process built on reporting. The guidelines are expected to be implemented in member jurisdictions by 2020.

October 25, 2017 WebPage Regulatory News
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EC Vice President on STS Securitization at the EP Plenary Debate

EC published opening remarks of Vice President Valdis Dombrovskis at the European Parliament’s (EP) Plenary debate on simple, transparent, and standardized (STS) securitization.

October 25, 2017 WebPage Regulatory News
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EIOPA Issues Update on the Internal Model Consistency Projects

EIOPA published an update on Internal Model Consistency Projects to strengthen supervisory consistency and convergence in the EU.

October 25, 2017 WebPage Regulatory News
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EC Welcomes Agreement to Fast-Track the EU Banking Reform Package

The European Parliament, the Council, and the Commission agreed on elements of the review of the Bank Recovery and Resolution Directive (BRRD) and of the Capital Requirements Regulation (CRR) and Directive (CRD) proposed in November 2016.

October 25, 2017 WebPage Regulatory News
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OFR Introduces FSVM and FSI as New Monitoring Tools

FSVM and FSI, which are part of the quantitative monitoring toolkit of OFR, signal where the OFR needs to investigate potential stresses and vulnerabilities. OFR conducts such investigations using a broader set of data, qualitative information, and expert analysis.

October 25, 2017 WebPage Regulatory News
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PRA Consults on Matching Adjustments Under Solvency II

PRA published a consultation paper (CP21/17) proposing its expectations from firms in respect of the application of the matching adjustment. This consultation is the first in a short series of consultation papers on reforms to the implementation of Solvency II.

October 25, 2017 WebPage Regulatory News
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PRA Issues Clarification on IFRS 9 for 2018 ICAAP Stress Testing

PRA issued a clarification on how firms should incorporate IFRS 9 into stress testing and capital planning, which are conducted out as part of their Internal Capital Adequacy Assessment Process (ICAAP) obligations from 2018.

October 25, 2017 WebPage Regulatory News
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EC Communication on Completing the Better Regulation Agenda 2017

EC adopted the 2018 work program and presented its plans for completing the work on the ten political priorities of President Juncker before the end of its mandate, along with a set of forward-looking initiatives for the future of Europe.

October 24, 2017 WebPage Regulatory News
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ESMA Agrees on MiFID II Position Limits Proposed by FCA

ESMA published nine opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR).

October 24, 2017 WebPage Regulatory News
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BaFin Consults on Amendments to Liquidity Regulation

BaFin is consulting on amendments to liquidity regulation, including the reporting forms.

October 24, 2017 WebPage Regulatory News
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EC Consults on Extending Transition for CCP Exposure Own Funds Rules

EC is consulting on a draft Implementing Regulation on the extension of the transitional periods on own funds requirements for exposures to central counterparties (CCPs).

October 24, 2017 WebPage Regulatory News
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Bank of Spain Amends Circular on Exercise of Regulatory Options in CRR

Bank of Spain issued Circular 3/2017, which modifies the Circular 2/2014 and will enter into force on January 01, 2018.

October 24, 2017 WebPage Regulatory News
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FSI Report on Prudential Policy Considerations for ECL Provisioning

The Financial Stability Institute (FSI) of BIS published a paper examining a range of prudential policy issues that may need to be considered once banks migrate to expected credit loss (ECL) provisioning under International Financial Reporting Standard (IFRS) 9.

October 23, 2017 WebPage Regulatory News
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ECB Report on Financial Structures in Euro Area Financial Sector

ECB published a report on financial structures in the euro area, which reviews the main structural features of, and developments in, the broader euro area financial sector.

October 23, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Third Update for October 2017

The Single Rulebook update for the third week of this month includes three items.

October 20, 2017 WebPage Regulatory News
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HKMA Revised Capital and Liquidity Rules Under Banking Ordinance

The Banking (Capital) (Amendment) Rules 2017, the Banking (Liquidity) (Amendment) Rules 2017, and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2017 were published in the Gazette to implement certain recent international standards on banking regulation in Hong Kong.

October 20, 2017 WebPage Regulatory News
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OCC Consults on Information Collection for Certain Banking Entities

OCC is finalizing the renewal of its information collection titled, “OCC Guidelines Establishing Heightened Standards for Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches.”

October 20, 2017 WebPage Regulatory News
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MAS Feedback to Consultation on Credit Loss Provisioning Requirements

MAS published a feedback statement to the consultation proposing amendments to MAS Notices 612, 1005, 637, and 1111 in relation to the changes in the recognition and measurement of allowance for credit losses—IFRS 9 and SFRS 109.

October 19, 2017 WebPage Regulatory News
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RBNZ Consults on Audit Requirements for Insurer Data Returns

RBNZ launched a consultation on audit requirements for insurer data returns. The paper sets out the rationale for reconsidering audit requirements; the proposal and possible alternatives; and a brief discussion of possible costs and benefits.

October 19, 2017 WebPage Regulatory News
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EIOPA Q&A on Regulations: Second Update for October 2017

EIOPA published new sets of questions and answers (Q&A) on implementing and delegating regulations, mostly relevant to Solvency II.

October 19, 2017 WebPage Regulatory News
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IAIS Publishes Status and Timelines for ICPs and ComFrame

IAIS published the status and timelines for insurance core principles (ICPs) and the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame).

October 19, 2017 WebPage Regulatory News
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OSFI Updates Minimum Capital Test Guideline for P&C Insurers

OSFI released updates to the Minimum Capital Test (MCT) Guideline, which sets out capital requirements for federally regulated property and casualty (P&C) insurance companies.

October 19, 2017 WebPage Regulatory News
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ESMA Produces First Overview of Size of EU Derivative Markets

ESMA published an article—EU derivatives markets: a first-time overview—that was included in the latest version of its Report on Trends, Risks and Vulnerabilities.

October 19, 2017 WebPage Regulatory News
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QFCRA Issues Netting Regulations in 2017

The Qatar Financial Center Regulatory Authority (QFCRA) issued netting regulations in 2017. These regulations come into force on the date on which the Minister of Finance signs them.

October 19, 2017 WebPage Regulatory News
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BaFin Consults on Revisions to Circular 11/2011 on IRRBB

BaFin is revising and consulting on Circular 11/2011 for interest rate risk in the banking book (IRRBB).

October 19, 2017 WebPage Regulatory News
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BCBS Issues Assessment of LCR Implementation in Four Jurisdictions

BCBS published assessment reports on the implementation of the liquidity coverage ratio (LCR) in Australia, Brazil, Canada, and Switzerland.

October 18, 2017 WebPage Regulatory News
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BCBS Issues Thirteenth Progress Report on Adoption of Basel Framework

This updated progress report on adoption of the Basel regulatory framework provides a high-level view of the progress of BCBS members in adopting Basel III standards as of the end of September 2017.

October 18, 2017 WebPage Regulatory News
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EC Issues Evaluation Roadmap for EU Reporting Requirements

EC issued an evaluation roadmap for a fitness check of the EU reporting requirements in the financial sector. EC is conducting this fitness check to analyze the shortfalls associated with supervisory reporting.

October 18, 2017 WebPage Regulatory News
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CFTC Determines Comparability with EU Margin Requirements for Swaps

CFTC published a notification in the Federal Register on comparability determination of the margin requirements for uncleared swaps for swap dealers (SDs) and major swap participants (MSPs) for the EU.

October 18, 2017 WebPage Regulatory News
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EBA Updates Entity List for Calculation of Capital Requirements

EBA published an updated list of public-sector entities that may be treated as regional governments, local authorities, or central governments for the calculation of capital requirements, in accordance with the EU Capital Requirements Regulation (CRR).

October 18, 2017 WebPage Regulatory News
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ESMA Issues Responses to Proposal on MiFID II Suitability Requirements

ESMA published the responses received to its consultation on guidelines on certain aspects of the MiFID II suitability requirements. The finalized guidelines will replace the existing ESMA guidelines on this topic, which were issued in 2012.

October 18, 2017 WebPage Regulatory News
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PRA Issues Insurance Data Release for Solvency II

PRA has developed tools to analyze the data submitted by firms to identify key issues and emerging risks in the insurance market to support forward-looking judgment-based supervision.

October 18, 2017 WebPage Regulatory News
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PRA Issues Statements on Data Collection for Market Risk Sensitivities

PRA issued a policy statement PS25/17 and supervisory statement SS7/17 on the Solvency II data collection of market risk sensitivities.

October 18, 2017 WebPage Regulatory News
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DNB Announces Changes to Reporting Templates as a Result of IFRS 9

DNB modified FINREP IFRS templates as well as the FINREP GAAP templates to ensure consistency in reporting. The most important IFRS 9 changes are the changes in accounting classification and valuation and the introduction of the expected loss model for impairments.

October 18, 2017 WebPage Regulatory News
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PRA Conducts Solvency and Financial Condition Report Roundtables

PRA hosted three roundtables with insurers, investors, credit analysts, and equity analysts to discuss the first round of Solvency and Financial Condition Reports (SFCRs) published by EU insurers in 2017.

October 18, 2017 WebPage Regulatory News
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SNB Releases Forms for Reporting Short-Term Liquidity Coverage Ratio

The Swiss National Bank (SNB) released forms for reporting of short-term liquidity coverage ratio (LCR).

October 18, 2017 WebPage Regulatory News
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ESMA Holds Conference on the State of European Financial Markets

ESMA hosted its first conference on the State of European Financial Markets in Paris.

October 17, 2017 WebPage Regulatory News
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OSFI Guideline on Residential Mortgage Underwriting Procedures

OSFI published the final version of Guideline B-20 on residential mortgage underwriting practices and procedures.

October 17, 2017 WebPage Regulatory News
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RBNZ Commences Phase 2 of Insurance Prudential Supervision Act Review

RBNZ released a feedback statement after considering the responses received on the consultation on issues paper on review of the Insurance (Prudential Supervision) Act 2010.

October 17, 2017 WebPage Regulatory News
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BoM Revises Guideline and Templates for Liquidity Risk Management

The revised guideline shall come into effect on November 03, 2017. BoM also published the templates for liquidity coverage ratio (LCR), maturity mismatch profile of assets and liabilities, and LCR disclosure.

October 17, 2017 WebPage Regulatory News
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Central Bank of Brazil Issues Financial Stability Report for H1 2017

The report is a semi-annual publication designed to present the recent developments and the outlook for financial stability in Brazil.

October 17, 2017 WebPage Regulatory News
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BaFin Consults on Circulars and Forms for Solvency Reporting

BaFin is consulting on the reporting form and the notes on the data to be reported to demonstrate adequate capital adequacy at the level of a financial conglomerate.

October 16, 2017 WebPage Regulatory News
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ESMA Launches MIFID II and MAR Financial Instrument Reference Database

ESMA launched the second phase of its Financial Instrument Reference Database (FIRDS). ESMA also published instructions for market participants on how to access the data and download the relevant machine-readable files.

October 16, 2017 WebPage Regulatory News
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HKMA Circular on Management Accountability at Registered Institutions

HKMA issued guidance on management accountability, at Registered Institutions, for conducting or supervising the conduct of businesses that constitute regulated activities. The guidance is set out in the form of a list of frequently asked questions.

October 16, 2017 WebPage Regulatory News
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Sabine Lautenschläger of ECB Dealing with a Globalized Banking Sector

Sabine Lautenschläger of ECB spoke at the George Washington University Law School in Washington D.C. about ways to deal with a globalized banking sector, reap the benefits, and keep the risks in check, as “that is the only way forward.”

October 16, 2017 WebPage Regulatory News
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SNB Releases Reporting Forms for Liquidity Monitoring Tools

SNB released liquidity monitoring tool forms for group or single entity reporting. The released forms are for FINMA supervisory categories 1 and 2 (valid from January 31, 2018) and for FINMA supervisory categories 3 to 5 (valid from March 31, 2018).

October 16, 2017 WebPage Regulatory News
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EC and CFTC Announce Common Approach on Derivatives Trading Venues

EC and U.S. CFTC issued a joint statement on a common approach on certain derivatives trading venues. EC also adopted European Market Infrastructure Regulation (EMIR) equivalence decision for derivatives transactions in the United States.

October 14, 2017 WebPage Regulatory News
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Sabine Lautenschläger of ECB on Proportionality in Bank Regulation

Sabine Lautenschläger, Member of Executive Board and Vice-Chair of Supervisory Board of the ECB spoke at an IMF seminar in Washington D.C. She examined the issue of proportionality in supervision and regulation of banks.

October 14, 2017 WebPage Regulatory News
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EBA Guidelines on Procedures for Complaints of Infringements of PSD2

EBA published the final guidelines on complaint procedures to be followed by competent authorities to ensure and monitor effective compliance by payment service providers with the revised Payment Services Directive (PSD2).

October 13, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: Second Update for October 2017

The Single Rulebook update for the second week of this month includes one item. The update is related to the systemic risk buffers and whether they can be additive.

October 13, 2017 WebPage Regulatory News
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EC Issues Corrigendum to Regulation on Regulatory Capital for Insurers

EC issued corrigendum to the Commission Delegated Regulation (EU) 2017/1542 of June 08, 2017 (published in the Official Journal of the European Union on September 14, 2017).

October 13, 2017 WebPage Regulatory News
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ESMA Publishes Responses to Consultation Under Prospectus Regulation

ESMA published the responses received to its consultation on technical advice under the new Prospectus Regulation.

October 13, 2017 WebPage Regulatory News
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FSB Publishes Stocktake on Regulatory Practices in Cybersecurity

FSB published the results of a stocktake on cybersecurity regulations, guidance, and supervisory practices. FSB published two reports: a summary report and a detailed analysis of the results of the stocktake.

October 13, 2017 WebPage Regulatory News
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FSI Chairman on Regulatory Achievements and Remaining Challenges

BIS published a presentation by Mr. Fernando Restoy, the Chairman of Financial Stability Institute (FSI) of BIS, at the CIV Meeting of Central Bank Governors of the Center for Latin American Monetary Studies (CEMLA) in Washington DC.

October 13, 2017 WebPage Regulatory News
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HKMA Publishes Banking Amendment Bill 2017 to Update Regulatory Regime

HKMA published a letter informing about the publication of Banking (Amendment) Bill 2017 in the Gazette. The Bill is published in an effort to strengthen the resilience of the banking system of Hong Kong, in accordance with the international regulatory standards.

October 13, 2017 WebPage Regulatory News
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William Coen of BCBS on the State of Global Financial Regulation

Mr. William Coen, Secretary General of the Basel Committee, spoke about the state of global financial regulation, at the 2017 IIF Annual Membership Meeting in Washington DC.

October 13, 2017 WebPage Regulatory News
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FSC Consults on Implementation of NSFR and Leverage Ratio

The Financial Services Commission (FSC) of Korea proposed amendments to the Regulation on Supervision of Banking Business for the implementation of the net stable funding ratio (NSFR) and the leverage ratio, as set by BCBS.

October 13, 2017 WebPage Regulatory News
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EBA Corrects Portfolio Identifiers for the 2018 Benchmarking Exercise

EBA rectified Annex 1 of its implementing technical standards on benchmarking of internal approaches, which had been amended on May 04, 2017 to define the benchmarking portfolios for the 2018 benchmarking exercise.

October 12, 2017 WebPage Regulatory News
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IASB Issues Amendments to IFRS 9 and IAS 28

IASB issued amendments to the International Financial Reporting Standards (IFRS) 9 on Financial Instruments and to the International Accounting Standard (IAS) 28 on Investments in Associates and Joint Ventures to aid implementation.

October 12, 2017 WebPage Regulatory News
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IMF Brings Together Policymakers to Foster Cooperation on Fintech

IMF brought together ministers of finance and economics, central bank governors, and other senior officials to share experiences, examine impact of technological change in the financial sector, and discuss potential policy and regulatory responses to financial technology (fintech).

October 12, 2017 WebPage Regulatory News
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EC Sets Out Path Toward Completion of the Banking Union by 2018

EC published a communication that sets out a path to ensure agreement on all the outstanding elements of the Banking Union, based on existing commitments by the Council.

October 11, 2017 WebPage Regulatory News
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EBA Consults on Reporting for Resolution Plans

EBA launched a consultation to amend the implementing technical standards on the information that institutions must provide to resolution authorities for drawing up and implementing resolution plans.

October 11, 2017 WebPage Regulatory News
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EBA Guidance to Authorities and Institutions on Brexit Relocations

EBA published an opinion on issues related to Brexit to ensure consistent application of EU legislation to businesses seeking to establish, or enhance, their EU27 presence to retain access to the EU Single Market.

October 11, 2017 WebPage Regulatory News
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EIOPA Publishes Guidelines on “Execution-Only” Sales

EIOPA published the final report on guidelines for insurance-based investment products (IBIPs), for which the associated risks are difficult for the customer to understand.

October 11, 2017 WebPage Regulatory News
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IOSCO Publishes Final Report on Other CRA Products

The final report on OCPs describes six groups of OCPs and their current status, along with business practices and trends within the CRA industry.

October 11, 2017 WebPage Regulatory News
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ESMA Issues Q&As on MiFID II Implementation for Post-Trading Issues

ESMA issued Question and Answers (Q&As) on post-trading issues related to the implementation of the second Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

October 10, 2017 WebPage Regulatory News
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FSB Publishes Progress Report on Implementation of IBOR Reforms

FSB published a progress report on implementation of its 2014 recommendations to reform major interest rate benchmarks such as key interbank offered rates (IBORs).

October 10, 2017 WebPage Regulatory News
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Hyun Song Shin of BIS on Institutional and Systemic Leverage

Mr. Hyun Song Shin, Economic Adviser and Head of Research of the BIS, spoke at the IMF conference on Systemic Risk and Macro-prudential Stress Testing in Washington DC.

October 10, 2017 WebPage Regulatory News
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ECB Releases Results of the 2017 Stress Tests on IRRBB

ECB had conducted a sensitivity analysis of interest rate risk in the banking book (IRRBB) based on year-end 2016 numbers.

October 09, 2017 WebPage Regulatory News
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ESMA Briefing on the Importance of LEI for MiFID II/MiFIR Compliance

The briefing describes LEI, explains which EU regulations and directives require its use, who can apply for it, and why it is important.

October 09, 2017 WebPage Regulatory News
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ESMA Updates List of Recognized Third-Country CCPs

ESMA updated the list of recognized central counterparties (CCPs) based in third countries.

October 09, 2017 WebPage Regulatory News
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FSI Paper on Policy Options for the Resolution of Nonperforming Loans

The paper on policy options reviews NPL resolutions in several countries and offers insights into the prerequisites for successful resolution strategies.

October 09, 2017 WebPage Regulatory News
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Steven Maijoor of ESMA Speaks on Implementation of MiFID II and Brexit

He briefly outlined ESMA’s key activities over the past 12 months, along with the upcoming challenges for the EU’s capital markets and ESMA.

October 09, 2017 WebPage Regulatory News
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Gabriel Bernardino of EIOPA on Achievements and Challenges for EIOPA

Gabriel Bernardino, Chairman of EIOPA, delivered a statement on the achievements of EIOPA over the past year, along with the challenges ahead, at the hearing of the European Parliament’s Economic and Monetary Affairs Committee.

October 09, 2017 WebPage Regulatory News
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EC Amends Rule Specifying Data to be Provided by Trade Repositories

EC published a Commission Delegated Regulation (CDR; EU Regulation 2017/1800) that further specifies the operational standards required to access, aggregate, and compare data across trade repositories.

October 07, 2017 WebPage Regulatory News
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EC Regulation on the Exemption of Certain Third Country Central Banks

EC published the Commission Delegated Regulation (CDR; EU Regulation 2017/1799) on the exemption of certain third country central banks in their performance of monetary, foreign exchange, and financial stability policies from pre- and post-trade transparency requirements.

October 07, 2017 WebPage Regulatory News
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BCBS to Allow National Discretions for Derivative Liabilities in NSFR

BCBS has agreed to allow national discretion for the net stable funding ratio’s (NSFR's) treatment of derivative liabilities.

October 06, 2017 WebPage Regulatory News
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EBA Single Rulebook Q&A: First Update for October 2017

As part of the Single Rulebook update for the first week of October 2017, answers to seven questions were published.

October 06, 2017 WebPage Regulatory News
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EC Publishes US-EU Bilateral Agreement and Related Council Decisions

EC published, in the Official Journal of the European Union, the bilateral agreement between the EU and the U.S. on prudential measures regarding insurance and reinsurance.

October 06, 2017 WebPage Regulatory News
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FSB Discusses Workplan and Next Steps on Evaluating Effects of Reforms

The FSB plenary met in Berlin and reviewed the workplan for the remainder of 2017-18, along with the next steps on evaluation of the effects of the post-crisis reforms.

October 06, 2017 WebPage Regulatory News
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HKMA Revises SPM Modules on Corporate Governance and Risk Management

HKMA published the revised supervisory policy manual (SPM) modules on corporate governance of locally incorporated authorized institutions (CG-1) and risk management framework (IC-1).

October 06, 2017 WebPage Regulatory News
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IMF Published Reports on the 2017 Article IV Consultation with Spain

IMF published its staff report, selected issues report, and the financial system stability assessment (FSSA) report on Spain.

October 06, 2017 WebPage Regulatory News
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MAS Consults on Draft Notices and Guidelines Related to the SFA

MAS published consultation paper I on draft notices and guidelines pursuant to the Securities and Futures Act (SFA).

October 06, 2017 WebPage Regulatory News
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US Agencies Propose Form FFIEC016 to Combine Three Stress Test Reports

The US agencies (OCC, FED, and FDIC) are seeking comments on the proposed Annual Dodd-Frank Act Company-Run Stress Test Report for depository institutions and holding companies with USD 10 to 50 billion in consolidated assets (FFIEC 016).

October 06, 2017 WebPage Regulatory News
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US Treasury Report on Reducing Burdens of Capital Markets Regulation

The U.S. Department of the Treasury released a report detailing how to streamline and reform the U.S. regulatory system for the capital markets.

October 06, 2017 WebPage Regulatory News
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EBA Publishes Work Program for 2018

The work program describes planned activities and tasks of EBA for the coming year.

October 05, 2017 WebPage Regulatory News
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EBA Updated its Risk Dashboard for 2Q 2017

EBA published an update of its Risk Dashboard for the second quarter of 2017. The dashboard summarizes the key risks and vulnerabilities in the EU banking sector through a set of risk indicators.

October 05, 2017 WebPage Regulatory News
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EIOPA Q&A on Regulations: First Update for October 2017

EIOPA published new sets of questions and answers (Q&A) on implementing and delegating regulations, mostly relevant to Solvency II.

October 05, 2017 WebPage Regulatory News
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ESMA Publishes its Work Program for 2018

The work program sets out priorities and focus areas for 2018, in support of the ESMA mission to enhance investor protection and promote stable and orderly financial markets.

October 05, 2017 WebPage Regulatory News
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ESMA Updates Q&As on AIFMD and UCITS in October 2017

ESMA published updated question and answer (Q&A) documents on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS) and the Alternative Investment Fund Managers Directive (AIFMD).

October 05, 2017 WebPage Regulatory News
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FED Extends Comment Date on Two Proposals for Firms It Supervises

FED is extending the public comment period on a proposal to enhance the effectiveness of boards of directors and on a proposal to better align its rating system for large financial institutions with the post-crisis supervisory program for these firms.

October 05, 2017 WebPage Regulatory News
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FED Updates Reporting Forms FR 2314, Y-7N, and Y-11 in October 2017

Among the FED information collections that have been under review, the reporting forms FR 2314, FR Y-7N, and FR Y-11 have been revised in the first week of October 2017.

October 05, 2017 WebPage Regulatory News
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IMF Publishes Technical Notes Under FSAP with Sweden

IMF published seven technical notes under the Financial Sector Assessment Program (FSAP) with Sweden.

October 05, 2017 WebPage Regulatory News
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IMF Reports on the 2017 Article IV Consultation with Saudi Arabia

IMF published its staff report, selected issues report, and the financial system stability assessment (FSSA) report on Saudi Arabia. These reports are a part of the IMF's financial sector surveillance on Saudi Arabia.

October 05, 2017 WebPage Regulatory News
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ECB Consults on an Addendum to its Guidance on Non-Performing Loans

ECB launched a public consultation on a draft addendum to the ECB guidance on non-performing loans (NPLs).

October 04, 2017 WebPage Regulatory News
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FED Updates Q&A on Information Collection for FR Y-14A, Q, and M

FED updated the questions and answers (Q&A) on the Capital Assessments and Stress Testing Information Collection FR Y-14.

October 04, 2017 WebPage Regulatory News
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FSI Paper on Supplemental Basel III Liquidity Monitoring Tools

The Financial Stability Institute (FSI) of BIS published an occasional paper (No. 14) on the Basel III liquidity monitoring tools, with focus on the possible application of the additional tools.

October 04, 2017 WebPage Regulatory News
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PRA Consults on Changes to the Large Exposures Framework

The PRA published a consultation paper CP20/17 that sets out its proposed changes and clarifications to requirements related to intragroup transactions in the large exposures Part of the PRA Rulebook.

October 04, 2017 WebPage Regulatory News
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PRA Consults on Groups Policy and Double Leverage for Banks

The PRA published a consultation paper CP19/17 on groups policy and double leverage for banks.

October 04, 2017 WebPage Regulatory News
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ECB Issued Opinion on a Proposal for Regulation Related to CCPs

ECB published its opinion on proposal for a regulation about the procedures and authorities involved for the authorization of central counterparties (CCPs) and the recognition of third-country CCPs.

October 04, 2017 WebPage Regulatory News
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FIN-FSA to Require Use of LEI Code for Transaction Reporting

The Finnish Financial Supervisory Authority FIN-FSA published a notification informing supervised entities about the deadline for the requirement of using a Legal Entity Identifier (LEI) code in transaction reporting.

October 04, 2017 WebPage Regulatory News
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RBI Reduces Statutory Liquidity Ratio Requirement for Banks

RBI decided to reduce the Statutory Liquidity Ratio (SLR) requirement of banks from 20.0% of their Net Demand and Time Liabilities (NDTL) to 19.5% from the fortnight commencing October 14, 2017.

October 04, 2017