CBB released its quarterly update to Rulebook Volume 1 (for conventional banks), Volume 2 (Islamic banks), Volume 3 (insurers), Volume 4 (investment business), and Volume 5 (all specialized licensees). The changes have been listed in the table attached with circulars on quarterly updates for each rulebook volume. Banks, insurance licensees, and specialized licensees must ensure that, where needed, appropriate action is taken to ensure full compliance. Those not in full compliance must notify CBB with immediate effect and provide an action plan for compliance on a quarterly basis.
The key changes in Volume 1 and Volume 2 are related to the liquidity coverage ratio (LCR) reporting. Appendix BR-23 on LCR reporting form has been added under Part B of Rulebook Volumes 1 and 2. Under the Liquidity Risk Management (LM) Module of Part A of Volume 2, a reference to BR has been added regarding LCR reporting. Additionally, guidelines for completion of Prudential Information Report for Islamic banks (PIRI), under Part B of Volume 2, have also been updated.
- Rulebook Volume 1: Quarterly Update
- Rulebook Volume 2: Quarterly Update
- Rulebook Volume 3: Quarterly Update
- Rulebook Volume 4: Quarterly Update
- Rulebook Volume 5: Quarterly Update
Keywords: Middle East and Africa, Bahrain, Banking, Insurance, Securities, CBB Rulebook, Islamic Banking, Reporting, LCR, CBB
Previous ArticleISDA Announces Digital Custody Function for Initial Margin
CBUAE has issued a regulation that introduces the licensing and supervision framework for low-risk, specialized banks.
APRA is consulting on CPG 511—the draft Prudential Practice Guide on remuneration for banks, insurers, and superannuation licensees—with the comment period ending on July 23, 2021.
MAS announced a new RegTech grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption in the financial sector.
PRA published a letter that sets out findings from the 2020 Internal Audit Review of the Collections function of a sample of non-systemic banks and building societies.
EIOPA launched a consultation on the Interbank Offered Rate (IBOR) transitions, in context of the EU Benchmarks Regulation.
EIOPA published a discussion paper on uses cases of, and the European approach to, blockchain and smart contracts in the insurance sector.
HKMA granted a banking license to NongHyup Bank (also NH Bank), which is incorporated in the Republic of Korea.
PRA published a discussion paper that explores options for developing a simpler but resilient prudential framework for banks and building societies that are neither systemically important nor internationally active.
ECB published an opinion on the proposal for a regulation on the pilot regime for market infrastructures based on distributed ledger technology.
EBA proposed regulatory technical standards that specify how to identify the appropriate risk-weights and conditions when assessing minimum loss given default (LGD) values for exposures secured by immovable property.