Featured Product

    BOM Updates Guidelines and Guidance Notes in July 2017

    July 21, 2017

    The Bank of Mauritius (BOM) revised two guidelines and updated a guidance note for the financial sector. The issued guidelines cover banks licensed to carry on private banking business and the computation of loan-to-value (LTV) ratio for residential and commercial property loans. The updated guidance notes are on anti-money laundering and combating the financing of terrorism (AML/CFT) for financial institutions.

    The updated guidance notes on AML/CFT set out the broad parameters within which financial institutions should operate in order to ward off money laundering and terrorist financing risks. The revised guideline on private banks sets out the regulatory and supervisory framework that would be applicable to banks licensed to carry on private banking business. The revised guideline on LTV computation sets out the procedures and guidance to be followed by banks for determining the LTV limits when granting credit facilities for the purchase/construction of commercial/residential properties in Mauritius. This guideline is issued under the authority of Section 100 of the Banking Act 2004 and Section 50 of the Bank of Mauritius Act 2004 and it applies to all banks licensed under the Banking Act 2004.

     

    Related Links

    Guideline for Private Banks

    Guideline on LTV Computation

    Guidance Note on AML/CFT

    Keywords: Middle East and Africa, Mauritius, Banking, LTV, AML/CFT, Private Banking, BOM

    Related Articles
    News

    EBA Report on MREL Shows Progress in Resolution Planning

    EBA published the first quantitative report taking stock of the increased capacity of minimum requirements for own funds and eligible liabilities (MREL) in EU.

    February 17, 2020 WebPage Regulatory News
    News

    ESMA Updates Q&A on Credit Rating Agencies Regulation

    ESMA updated questions and answers (Q&A) document on the Credit Rating Agencies (CRA) Regulation.

    February 17, 2020 WebPage Regulatory News
    News

    EC Announces Funding for Sustainable Finance Project in France

    EC announced an investment for the latest projects, including a project on sustainable finance, under the LIFE program for the environment and climate action.

    February 17, 2020 WebPage Regulatory News
    News

    FDIC Releases Economic Scenarios for Stress Testing in 2020

    FDIC released the hypothetical economic scenarios for use in the upcoming stress tests for covered institutions with total consolidated assets of more than USD 250 billion.

    February 14, 2020 WebPage Regulatory News
    News

    EBA Acknowledges EC Adoption of Amended Supervisory Reporting Standard

    EBA acknowledged the adoption, by EC, of an Implementing Act with regard to the common reporting (COREP) and financial reporting (FINREP) changes, in accordance with the Capital Requirements Regulation or CRR.

    February 14, 2020 WebPage Regulatory News
    News

    APRA and ASIC Welcome Proposed Reforms for Superannuation Sector

    APRA and the Australian Securities and Investments Commission (ASIC) have jointly welcomed the proposed legislative reforms increasing the role of ASIC in the superannuation sector.

    February 14, 2020 WebPage Regulatory News
    News

    ESMA Responds to EC Consultation on Review of Benchmarks Regulation

    ESMA published its response to EC consultation on review of the Benchmarks Regulation in EU.

    February 14, 2020 WebPage Regulatory News
    News

    OSFI on Guide and Form for Replicating Portfolio Information Summary

    OSFI revised the instruction guide and form related to filing the Replicating Portfolio Information Summary.

    February 14, 2020 WebPage Regulatory News
    News

    FFIEC Publishes Guide to HMDA Reporting for Data Collected in 2020

    FFIEC issued the 2020 edition of guide to Home Mortgage Disclosure Act (HMDA) reporting for the data collected in 2020 and reported in 2021.

    February 13, 2020 WebPage Regulatory News
    News

    ISDA Guide on Smart Contracts for Equity and Interest Rate Derivatives

    ISDA has published the fourth and fifth installments in a series of legal guidelines for smart derivatives contracts.

    February 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4687