Featured Product

    BOT Publishes Regulatory Updates for Financial Sector Entities

    July 07, 2022

    The Bank of Thailand (BOT) published a directional paper on supervisory approach and management of risks to the financial system with respect to digital assets. It also published a draft regulation on the supervision of financial business groups transacting in digital assets, a statement on the implementation of financial measures amid COVID-19 pandemic, and the XML schema for reporting by banks.

    Below are the key highlights of the recent updates:

    • Striking a balance between facilitating digital asset related innovation to promote their benefits and managing the risks that may arise is the key principle underpinning the supervision of digital assets. BOT issued the directional paper to explain its rationale in issuing its policies related to financial business groups with regard to digital assets, the options considered by BOT, as well as the pros and cons of each supervisory approach under the existing limitations and context of the Thai financial sector. BOT has also issued a draft regulation on the supervision of financial business groups of commercial banks operating and transacting in digital assets. BOT requested comments on the draft regulations until July 25, 2022.
    • BOT has decided to repeal the relief measure on dividend payout policy as well as extend and provide additional measures to help debtors that are still affected due to COVID-19 pandemic. These measures include measures for resolving long-term debt, increasing liquidity under loan rehabilitation program, maintaining the reduction of minimum credit card repayment rate until the end of 2023, and improving the debt repayment program.
    • BOT published XML Schema for reporting by Thai commercial banks, foreign bank branches, specialized finance companies, and credit foncier companies. The schema will be effective from December 2022.

     

    Related Links (in English and Thai)

     

     

    Keywords: Asia Pacific, Thailand, Banking, Reporting, Digital Assets, XML Schema, Regtech, Dividend Distribution, Credit Risk, Loan Repayment, Covid 19, BOT, Basel

    Featured Experts
    Related Articles
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies

    The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)

    September 13, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514