FDIC and OCC Finalize Rule to Shorten Settlement Cycle for Securities

European Council Agrees Its Stance on Pan-European Pension Product

The regulation would add a pan-European framework for people who wish to use PEPPs as a saving option.

EC Finalizes the Fifth Money Laundering Directive in EU

EC published Directive (EU) 2018/843, which amends Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, in addition to amending Directives 2009/138/EC and 2013/36/EU.

EBA Consults on the Standards for Calculation of KIRB Under CRR

EBA launched a public consultation on draft regulatory technical standards specifying the conditions to allow institutions to calculate capital requirements of the securitized exposures (KIRB), in accordance with the purchased receivables approach laid down in the amended Capital Requirements Regulation (CRR).

BoE Paper Examines Impact of Leverage Ratio on Client Clearing

This paper assesses the relative importance and interaction of capital requirements and "margining" in over-the-counter (OTC) derivative markets.

EC Amends Guideline on Monetary and Financial Statistics in EU

EC issued Guideline (EU) 2018/877, which amends the Guideline ECB/2014/15 on the monetary and financial statistics in EU.

EBA Publishes its Annual Report for 2017

EBA published its 2017 Annual Report. The report provides a detailed account the work of EBA in the past year and describes the key areas of focus in the coming years.

IMF Publishes Reports on 2018 Article IV Consultation with Switzerland

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Switzerland.

ECB Revises Assessment Methodology for Payment Systems in EU

The revised methodology covers the requirements introduced by the revised systemically important payment systems (SIPS) Regulation, which entered into force in December 2017 and additionally references the Eurosystem’s Cyber Resilience Oversight Expectations (CROE).

EIOPA Publishes its Annual Report for 2017

The report contains a comprehensive account of the activities of EIOPA in the implementation of its mandate and work program during 2017.

CSRC and CBIRC Issue Rules Governing the Chinese Depository Receipts

The measures include "Measures for Administration of Securities Issuance and Underwriting," "Implementation Measures for Continued Supervision after Listing of Domestically Issued Shares or Depository Receipts of Innovative Enterprises (Trial)," and "Guidelines on Content and Format of the Depository Agreement (Trial).

EBA Single Rulebook Q&A: Second Update for June 2018

The Single Rulebook question and answer (Q&A) updates for this week include two items on supervisory reporting.

FED Adopts Final Rule on SCCL for Large Banking Organizations

FED adopted the final rule to establish single counterparty credit limits (SCCL) for banks.

ACPR Updates COREP and FINREP Taxonomy DPM Version 2.7 for Banks

ACPR updated COREP and FINREP Data Point Model (DPM) Version 2.7. The COREP and FINREP remittances at the March 2018 decree based on the DPM version 2.7 revealed a number of controls that were identified as inconsistent.

IMF Publishes Reports on 2018 Article IV Consultation with Algeria

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Algeria.

IMF Report Suggests to Improve Bank Resolution Framework in Mauritius

IMF published the technical assistance report on strengthening bank resolution and crisis management framework in Mauritius.

BoE Issues Policy on Valuation Capabilities to Support Resolvability

BoE released its final Statement of Policy on valuation capabilities to support resolvability. The policy statement also discusses responses to the consultation paper, which was published in August 2017.

European Parliament Issues Paper Examining the 2018 Stress Test Design

European Parliament published a research paper that examines how demanding and consistent is the 2018 stress test design in comparison to the previous exercises.

ESMA Publishes Report on Supervisory Measures and Penalties Under EMIR

ESMA issued its first annual report on supervisory actions and penalties imposed by the national competent authorities under the European Market Infrastructure Regulation (EMIR).

European Parliament Publishes Paper on Challenges on BRRD Valuations

European Parliament published a research paper that discusses, from a legal perspective, the challenges and difficulties involved in the production of the valuation reports required by the Bank Recovery and Resolution Directive (BRRD).

EBA Consults on Clarifications for Regulatory Standards on SCA and CSC

EBA published an Opinion on the implementation of the regulatory technical standards on strong customer authentication (SCA) and common and secure communication (CSC).

PRA Publishes Policy Statement and Templates for MREL Reporting

PRA published the policy statement PS11/18, which provides feedback to responses to the consultation paper CP1/18 and sets out the final expectations of PRA on minimum requirement for own funds and eligible liabilities (MREL) reporting.

Bank of Italy Publishes Updates on AnaCredit Reporting in Italy

Bank of Italy published a number of updates on AnaCredit reporting, including updates to national regulations as well as technical guidance and support documentation.

CBIRC Issues Rules for Actuarial Reporting of Life Insurance Companies

CBIRC issues revisions to the rules for compilation of actuarial reports by life insurance companies.

IMF Publishes Reports on Financial Sector Assessment of Romania

IMF published a report on the assessment of financial sector in Romania, under the Financial Sector Assessment Program (FSAP).

Dietrich Domanski of FSB on Future Effective Global Resolution Regimes

While speaking in Brussels, Dietrich Domanski, the Secretary General of FSB, examined the recent and expected developments in the area of recovery and resolution of banks.

BaFin Issues Circular on Rules for Interest Rate Risk in Banking Book

The BaFin issued a new circular (Circular 9/18) on the interest rate risk in the banking book (IRRBB).

US Agencies Publish Semi-Annual Regulatory Agenda in June 2018

US Agencies (CFPB, CFTC, FED, and SEC) published the semi-annual regulatory flexibility agenda in the Federal Register, under the Regulatory Flexibility Act.

EBA Issues Revised List of ITS Validation Rules in June 2018

EBA issued a revised list of validation rules in its implementing technical standards (ITS) on supervisory reporting.

Valdis Dombrovskis of EC Speaks on Revision of EMIR

The EC Vice President Valdis Dombrovskis gave opening remarks at the European Parliament Plenary debate on the revision of European Market Infrastructure Regulation (EMIR).

IASB on Preparing the Market for IFRS 17 on Insurance Contracts

IASB published an article on preparing the market for the IFRS 17 standard on insurance contracts.

IMF Publishes Reports on 2018 Article IV Consultation with Angola

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Angola.

EBA Single Rulebook Q&A: First Update for June 2018

The Single Rulebook question and answer (Q&A) updates for this week include four items on the topics of credit risk and transitional arrangements for IFRS 9.

OSFI Releases Discussion Paper on Reinsurance Framework

OSFI released a discussion paper as part of its review of the reinsurance framework that is applicable to federally regulated insurers.

IMF Publishes Reports on 2018 Article IV Consultation with Bangladesh

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Bangladesh.

IMF Publishes Reports on 2018 Article IV Consultation with Guatemala

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Guatemala.

FED Announces the 2018 Schedule for DFAST and CCAR Results

FED announced the schedule for the results from Dodd-Frank Act stress testing (DFAST) and Comprehensive Capital Analysis and Review (CCAR).

HKMA Finalizes Implementation of BDAR 2018 and Amendment Notice 2018

HKMA informed that the Banking (Disclosure) (Amendment) Rules 2018 (BDAR 2018) and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 (Amendment Notice 2018) will come into operation on June 30, 2018.

IMF Publishes Reports on Article IV Consultation with El Salvador

IMF published its staff report and selected issues report in the context of the Article IV consultation with El Salvador. Directors noted that El Salvador’s banking system is well capitalized and very liquid.

FSB Consults on Technical Implementation of TLAC Standard for G-SIBs

FSB published a call for public feedback on the technical implementation of its total loss-absorbing capacity (TLAC) standard for global systemically important banks (G-SIBs).

FSB Issues Update on Meeting of RCG for Americas

The FSB RCG for Americas discussed sovereign risk, regtech, crypto-assets, and work to reduce misconduct risk at its recent meeting in Asuncion, Paraguay.

APRA Standards to Strengthen Role of Appointed Actuary for Insurers

APRA released a final package of measures on actuarial and related matters to clarify and strengthen the role of the Appointed Actuary within general, life, and private health insurance.

Pentti Hakkarainen of ECB Speaks on Digitalization of Banking Sector

Pentti Hakkarainen of ECB spoke at the Lisbon Research Center about the benefits and risks attached to technological transformation of the banking sector.

ESMA Publishes Risk Dashboard for the First Quarter of 2018

ESMA issued the latest iteration of its risk dashboard, which covers risks in the securities markets in EU for the first quarter of 2018.

BoE Consults on Adoption of Global Standard for Payments in UK

BoE, in conjunction with the New Payments System Operator (NPSO) and the Payment System Regulator (PSR), launched a consultation on the adoption of a common global language or messaging standard, known as ISO 20022, for payments in the UK.

IMF Publishes Reports on 2018 Article IV Consultation with Romania

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Romania.

BSP Issues Guidelines for Implementing NSFR in the Philippines

BSP published (via Circular No. 1007) the implementing guidelines for net stable funding ratio (NSFR), including the NSFR reporting template, as part of the Basel III framework liquidity standards.

Central Bank of Ireland Issues Credit Data Types for AnaCredit

The Central Bank of Ireland updated material on the reporting of credit data, including the Credit Data Types document (related to the ACR1B Schema v.2 and ACR2B Schema v.2 documents).

BoE Publishes Results of Evaluation of its Resolution Arrangements

BoE published a report on the evaluation of its resolution arrangements by the Independent Evaluation Office (IEO).

FSB Issues Thematic Peer Review on Bank Resolution Planning

FSB launched the third thematic peer review on resolution regimes for banks. The review aims to evaluate implementation, by FSB jurisdictions, of the resolution planning standard set out in the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions and in associated guidance in relation to banks.

FSB Publishes Responses to Consultation on UPI Governance Arrangements

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

IMF Publishes Reports on 2018 Article IV Consultation with Thailand

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Thailand.

EC Holds Conference on Preparing Supervisory Reporting for Digital Age

EC held a conference on preparing supervisory reporting for digital age.

ESRB Updates the Summary of National Macro-Prudential Measures

ESRB updated the overview of national measures of macro-prudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures, and certain other measures.

ESMA Adopts Product Intervention Measures on CFDs and Binary Options

ESMA formally adopted new measures on the provision of contracts for differences (CFDs) and binary options to retail investors.

OSFI Consults on the 2019 LICAT Guideline for Insurers

OSFI is consulting on the 2019 Life Insurance Capital Adequacy Test (LICAT) guideline for federally regulated life insurance companies and fraternal benefit societies.

EBA Issues Implementing Technical Standards on Supervisory Disclosure

EBA published the final draft implementing technical standards on the format, structure, contents list, and annual publication date of the supervisory information to be disclosed by competent authorities.

EC Adopts Rules on Investments in STS Securitizations for Insurers

EC adopted new rules, via a Delegated Regulation, to stimulate investments of insurance companies in simple, transparent, and standardized (STS) securitization. The rules will apply as of January 01, 2019 if the European Parliament and the Council raise no objection to it.

CBIRC Issues Measures for Administering Joint Credit Granting by Banks

CBIRC issued "Measures for the Administration of Joint Credit Granting of Banking Financial Institutions (Trial Implementation)."

BDE Issues Technical Instructions for Financial Reporting by Banks

BDE published technical instructions on rules for the presentation and telematic transmission of financial statements of credit institutions. BDE also published taxonomy related to semi-annual financial statements (FI 160 to FI 162) and annual financial statements (FI 180 to FI 182) in Annex 4 of Circular 4/2017.

ECB Publishes Examples of Complete Reports for AnaCredit

ECB published examples of complete reports that constitute an Annex to the AnaCredit Reporting Manual of ECB.

DNB Issues Insurance Newsletter for May 2018

DNB issued insurance newsletter for May 2018.

APRA Issues Results of Insurer Survey on Impact of AASB 16 and 17

APRA issued a letter providing high-level observations and summary of results of the 2017 survey on impact of accounting standards AASB 16 (Leases) and AASB 17 (Insurance Contracts) on insurance firms.

Peter Kohlhagen of APRA on Combating Complacency in PHI Sector

Peter Kohlhagen, APRA’s Senior Manager of Policy Development, spoke about combating complacency in a new era of Private Health Insurance (PHI) instability, at the Health Insurance Summit in Sydney.

FED Proposes to Simplify Compliance Requirements for Volcker Rule

FED published the proposed rule to simplify and tailor compliance requirements related to the Volcker rule.

ECB Issues Report on Self-Assessment of TARGET2 Against PFMIs

ECB published a report providing a summary of the self-assessment of the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET2) system against the principles for financial market infrastructures (PFMIs).

EBA and ESMA Issue Statement on Retail Holdings of Bail-In-Able Debt

EBA and ESMA published a joint statement encouraging institutions, market, and resolution authorities to properly consider retail holders of debt financial instruments subject to the Bank Recovery and Resolution Directive (BRRD) when carrying out their respective tasks.

HKMA Revises Guideline for Authorization of Virtual Banks in Hong Kong

HKMA published a revised guideline on the authorization of virtual banks, following the completion of a public consultation. HKMA also published a document on consultation conclusions, which contains detailed summary of comments recieved, along the responses of HKMA.

ESMA Updates Q&As on the Implementation of EMIR and CSDR

ESMA updated the question and answer (Q&A) documents on the implementation of the European Market Infrastructure Regulation (EMIR) and Central Securities Depository Regulation (CSDR).

CBIRC Revises Guidelines for the Management of IRRBB in China

The guidelines specify detailed requirements on management, measurement, supervision, and inspection of interest rate risk of commercial banks in the People's Republic of China. The effective date for the guidelines on IRRBB is January 01, 2019.

IMF Issues Reports on 2018 Article IV Consultation with Qatar

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Qatar. Directors noted that the banking sector is healthy with high asset quality and strong capitalization.

Bundesbank Updates Supporting Documents for AnaCredit Reporting

Bundesbank updated versions of certain supporting documents for AnaCredit reporting.

ESMA Updates Q&As on MiFID II and MiFIR

ESMA updated question and answer (Q&A) document on data reporting under the Markets in Financial Instruments Regulation (MiFIR).

IMF Publishes Reports on 2018 Article IV Consultation with Colombia

IMF published its staff report and selected issues report post conclusion of the 2018 Article IV consultation with Colombia.

GLEIF Updates Global Regulatory Activities on the Use of LEI

GLEIF updated the list of current and proposed regulatory activities, including the use of the Legal Entity Identifier (LEI). The updates concern certain approved regulatory policies of RBI and the People's Bank of China (PBC).

ESMA Publishes Final Guidelines on MiFID II Suitability Requirements

ESMA published a report on the final guidelines for certain aspects of the Markets in Financial Instruments Directive (MiFID) II suitability requirements. The guidelines in the final report confirm and broaden the existing MiFID I guidelines on suitability, which were issued in 2012.

ESMA Updates Q&As on SSR and Application of UCITS

ESMA updated the question and answer (Q&A) documents on Short-Selling Regulation (SSR) and on the application of the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive.

ESMA Issues Guidelines on Anti-Procyclicality Margin Measures for CCPs

ESMA issued the final guidelines on anti-procyclicality margin measures for central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR).

OSFI Issues Guidelines on TLAC and Capital Disclosure Requirements

OSFI issued final versions of its guidelines on total loss-absorbing capacity (TLAC) disclosure requirements and capital disclosure requirements.

IMF Publishes Reports on 2018 Article IV Consultation with Netherlands

IMF published its staff report and selected issues report on the 2018 Article IV consultation with the Kingdom of the Netherlands.

ECB Updates Its Guide to Fit and Proper Assessments Under SSM

ECB updated its guide to fit and proper assessments in line with the Joint ESMA and EBA guidelines on suitability.

EBA Single Rulebook Q&A: Second Update for May 2018

The Single Rulebook Questions and Answers (Q&A) updates for this week include 11 items.

CSRC Issues Workplan on Use of Regtech to Supervise Securities Markets

CSRC issued a work plan for "Auditing and Enforcement of Science and Technology Construction."

CBIRC Issues Measures to Manage Liquidity Risk for Commercial Banks

CBIRC issued measures for the management of liquidity risk of commercial banks, with the effective date of implementation being July 01, 2018.

European Council Reaches Agreement on CRD 5, CRR 2, BRRD 2, and SRMR 2

European Council agreed on a package of measures aimed to reduce risk in the banking industry.

FDIC Seeks Comments on Renewal of Certain Information Collections

FDIC is soliciting comments on renewal of certain currently approved information collections under the Paperwork Reduction Act of 1995.

IASB Issues Work Plan and Meeting Updates for May 2018

IASB published an updated work plan, along with the update of its meeting in May 2018.

ESMA Updates Statistical Data on Performance of Credit Ratings

ESMA published its latest set of semi-annual statistical data on the performance of credit ratings, including transition matrices and default rates.

BCBS Updates Basel III Monitoring FAQ in May 2018

BCBS updated the list of frequently asked questions (FAQ) on Basel III monitoring for the collection of December 2017 data.

EC Issues Legislative Proposals on Sustainable Finance in EU

EC presented a package of measures as a follow-up to its action plan on financing sustainable growth.

EC Proposes Regulation on Sovereign Bond-Backed Securities in EU

EC proposed a regulation on sovereign bond-backed securities (SBBS) in the EU, the comment period for which ends on July 20, 2018.

EC Proposes to Adopt More Proportionate Rules to Support SME Listing

EC proposed new rules to give small and medium enterprises (SMEs) better access to financing through public markets.

Dietrich Domanski Speaks on FSB Focus Areas for Remainder of the Year

The FSB Secretary General Dietrich Domanski updated the Asia Securities Industry and Financial Markets Association (ASIFMA) Board on key issues that FSB will work on for the remainder of the year.

Bundesbank Updates Guideline on Internal Capital Adequacy Assessment

Deutsche Bundesbank published the revised version of the Internal Capital Adequacy Assessment Process (ICAAP) guideline. Bundesbank and BaFin had jointly launched the guideline for the supervisory assessment of bank-internal risk-bearing capacity concepts from 2011.

OCC Publishes Report on Key Risks for Federal Banking System

OCC published a semi-annual report that addresses key risks facing banks in the United States. The spring 2018 report reflects bank data as of March 31, 2018, unless otherwise indicated.

IMF Board Decides to Formally Recognize CPIFR for Banking Sector

The Executive Board of the IMF endorsed the proposal on the use of the core principles for Islamic finance regulations (CPIFR), which were developed by IFSB with the participation of the Secretariat of BCBS.

ECB Publishes the Results of its Biannual Financial Stability Review

ECB published the results of its biannual Financial Stability Review (FSR) in May 2018.

CFTC Proposes Amendments to the Margin Rule for Uncleared Swaps

CFTC proposed a rule amending the CFTC Margin Rule on margin requirements for uncleared swaps for swap dealers (SDs) and major swap participants (MSPs).

APRA Commences Post-Implementation Review of Prudential Framework

APRA commenced the post-implementation review of the superannuation prudential framework by releasing its first of a series of consultation papers on aspects of the prudential framework.

EBA Updates List of Other Systemically Important Institutions in EU

EBA updated the 2017 list of other systemically important institutions (O-SIIs) in EU. The list of O-SIIs is disclosed on an annual basis, along with any common equity tier 1 (CET1) capital buffer requirements, which may need to be set or reset.

EBA Releases the 2017 Data on Deposit Guarantee Schemes Across EU

EBA published the 2017 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD): available financial means and covered deposits.

Central Bank of Ireland Updates Notes on AnaCredit Data Returns

The Central Bank of Ireland has updated the compilation notes for AnaCredit data returns. The notes on compilation set out the statistical reporting requirements for credit institutions.

Council Issues Compromise Texts for CRD 5, CRR 2, BRRD 2, and SRMR 2

European Council published the presidency compromise texts for proposals on the Capital Requirements Directive (CRD V), Capital Requirements Regulation (CRR II), Bank Recovery and Resolution Directive (BRRD 2), and Single Resolution Mechanism Regulation (SRMR 2).

IAIS Publishes Newsletter for May 2018

The May issue of the IAIS newsletter highlights that IAIS will increasingly pivot to a greater emphasis on enhancing supervisory practices.

PRA Consults on Its Approach to EU Securitization Regulation and SRT

PRA published the consultation paper CP12/18 that sets out the proposals on its approach to the EU Securitization Regulation and certain aspects of the revised Capital Requirements Regulation (CRR) banking securitization capital framework.

Congress Passes Economic Growth, Regulatory Relief, and CP Act

The U.S. House of Representatives voted 258-159 to pass the “Economic Growth, Regulatory Relief and Consumer Protection (CP) Act,” which is a significant pro-growth financial regulatory reform package.

MAS Consults on Improving Business Flexibility for Market Operators

MAS issued two consultation papers to improve business flexibility of market operators when establishing new centralized trading facilities and speed to market when launching new products.

EIOPA Report Studies Modeling of Market and Credit Risks by Insurers

EIOPA published the results of the first study on the modeling of market and credit risks in the insurance sector.

EBA Consults on Guide for Estimating Economic Downturn in IRB Modeling

EBA published two consultation papers: one on the draft regulatory technical standards specifying an economic downturn and the other on a set of guidelines for the estimation of loss given default (LGD) appropriate for conditions of an economic downturn.

EBA Public Hearing on EC Proposal to Develop European Secured Notes

EBA will hold a public hearing on June 26, 2018 to outline its draft answer to the EC's Call for Advice on the European secured notes.

IMF Issues Reports on the 2018 Article IV Consultation with Montenegro

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Montenegro.

CBIRC Issues Data Governance Guideline for Banking Institutions

CBIRC issued the final data governance guideline for banking financial institutions, post a consultation with the stakeholders.

CFTC Issues Advisory on Virtual Currency Derivative Product Listings

CFTC issued an advisory on the virtual currency derivative product listings. The advisory provides guidance on certain enhancements when listing a derivative contract based on virtual currency.

CBB Updates Form Prudential Information Report for Conventional Banks

CBB updated the Prudential Information Report (PIR) for conventional banks. The PIR is a report of the bank’s regulatory balance sheet and risk positions relative to regulatory limits.

EBA Single Rulebook Q&A: First Update for May 2018

The updates for this week include four items covering questions and answers (Q&A) related to supervisory reporting.

HKMA Publishes Rules on Equity Exposure Limits for Banks

The Banking (Amendment) Ordinance 2018 (Commencement) Notice 2018 and the Banking (Exposure Limits) Rules were gazetted to modernize section 87 of the Banking Ordinance in relation to a prescribed limit on equity exposures incurred by authorized institutions.

EC Rule on Excluding Trades from Own Funds Requirement for CVA Risk

EC published the Commission Delegated Regulation (EU) 2018/728 with respect to regulatory technical standards for procedures for excluding transactions with non-financial counterparties established in a third country from the own funds requirement for credit valuation adjustment (CVA) risk.

EC Amends Rule on Benchmarking Portfolios and Reporting Templates

EC published the Commission Implementing Regulation (EU) 2018/688 that amends the Implementing Regulation (EU) 2016/2070 on benchmarking portfolios, reporting templates, and reporting instructions.

EIOPA Opinion on Solvency Position of Insurers in Light of Brexit

EIOPA issued an opinion on the solvency position of insurers in light of the withdrawal of the UK from the EU (or Brexit).

ACPR Updates Taxonomic Controls for Taxonomy RAN 1.1.0 for Insurers

ACPR published an updated version of taxonomic controls for the Taxonomy RAN Version 1.1.0 for Solvency II reporting.

FINMA Consults on Pricing of Occupational Pension Funds in Switzerland

The Swiss Financial Market Supervisory Authority FINMA is consulting on the proposal to revise and simplify its supervisory practice in relation to the pricing of occupational pension funds.

MAS Introduces Revised Reporting Standards for Banks Under Notice 610

MAS issued revised reporting standards for banks in Singapore, under its Notices 610 and 1003 on Submission of Statistics and Returns.

PRA Issues SS4/18 on Financial Management and Planning by Insurers

PRA issued the supervisory statement SS4/18 on financial management and planning by insurers.

HKMA Revises Module on Validating Risk Rating Systems for IRB Approach

HKMA issued, as a technical note, the revised version of the Supervisory Policy Manual (SPM) module CA-G-4 on validating risk rating systems under the internal ratings-based (IRB) approach for authorized institutions.

RBI Issues Final Guidelines on NSFR Standard Under Basel III

RBI published the final guidelines on the net stable funding ratio (NSFR), as part of its Basel III Framework on Liquidity Standards.

EC Vice President Speaks on Banking and Capital Markets Unions

The EC Vice President Valdis Dombrovskis discussed the ongoing work in the areas of Banking Union and Capital Markets Union, while speaking at the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels.

Randal Quarles of FED on Finding Balance in Cross-Border Resolution

While speaking at the Harvard Law School in Cambridge, Randal K. Quarles outlined the U.S. approach to the cross-border resolution framework and examined the potential for adjustments for the current regime.

FINMA Amends Financial Market Infrastructure Ordinance

FINMA introduced a clearing obligation for standardized interest-rate and credit derivatives traded over the counter (OTC).

CSSF Updates Status of Probematic EBA Validation Rules for Reporting

CSSF updated the status of problematic EBA validation rules for reporting by the entities under its supervision. CSSF also updated the document on identification of reporting requirements and checks for level 2 completeness.

EC Issues Standards on Template for Use by MMF Managers for Reporting

EC published, in the Official Journal of the European Union, the Commission Implementing Regulation (EU) 2018/708.

IMF Paper Examines Interconnectedness of Global Financial System

IMF published a working paper that studies the interconnectedness of the global financial system and its susceptibility to shocks.

ESRB Paper Informs Policy Dialog on Bank Exposures to Sovereign Risk

The paper provides input into policy discussions by simulating reallocations of euro area banks’ sovereign bond holdings under new regulatory regimes.

Lael Brainard of FED Examines Lessons From Use of Financial Technology

The FED Governor Lael Brainard emphasized that FED will continue to evaluate developments in fintech and digital currencies through a multidisciplinary lens, while speaking at the Decoding Digital Currency Conference in San Francisco.

European Council Issues Presidency Compromise Text on PEPP Regulation

European Council published the Presidency compromise text for the proposal on the Pan-European Personal Pension Product (PEPP) regulation.

US Agencies Propose Revisions to Capital Rules to Phase in CECL

U.S. Agencies issued a joint proposal to address changes to the U.S. generally accepted accounting principles (GAAP) described in the Accounting Standards Update on Financial Instruments—Credit Losses (ASU 2016-13); the proposal covers implementation, by banking organizations, of the CECL methodology.

BCRA Updates Certain Prudential and Reporting Information for Banks

BCRA issued Circulars "A" 6502 and "A" 6509, which contain updates on the authorities of financial entities, minimum capital requirements, liquidity coverage ratio (LCR), net stable funding ratio (NSFR), and certain reporting information (including table of validation errors) for institutions.

BCBS Issues Framework for STC Short-Term Securitizations

BCBS issued the standard for capital treatment of simple, transparent, and comparable (STC) short-term securitizations.

EIOPA Launches the EU-Wide Insurance Stress Test for 2018

EIOPA launched the fourth stress test exercise for the insurance sector in Europe.

Yves Mersch of ECB Speaks About Regulating Virtual Currencies

Yves Mersch of ECB spoke at the 39th meeting of the Governor’s Club Bodrum in Turkey.

IMF Publishes Reports on the 2018 Article IV Consultation with Bahamas

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Bahamas.

European Council Adopts Directive to Prevent Money Laundering in EU

The European Council adopted a directive strengthening EU rules to prevent money laundering and terrorist financing. The directive sets out to close down criminal finance without hindering the normal functioning of payment systems.

CSRC Amends Consultation on Rules for Issuance of Depository Receipts

CSRC amended its first draft consultation on the issuance and trading of China Depository Receipts.

FSB Issues Update on Meeting of Regional Consultative Group for Asia

FSB published an update on the meeting of its Regional Consultative Group (RCG) for Asia.

Mario Draghi of ECB on Completing Banking and Capital Markets Unions

While speaking at the European University Institute in Florence, the ECB President Mario Draghi emphasized the creation of a more stable financial sector by completing the banking union and the capital markets union.

EC Consults on Recent Amendments to the BCBS Basel III Framework

EC launched a consultation to seek input from stakeholders on the impact of recent amendments to the Basel III framework.

SEC Proposes Regulation Best Interest to Enhance Investor Protection

SEC voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers, while preserving access to a variety of types of advice relationships and investment products.

HKMA Guidelines on Credit Risk Management of Personal Lending Business

HKMA issued guidelines to banks on credit risk management for personal lending business.

Bundesbank Issues List of Deactivated Validation Rules for Reporting

Deutsche Bundesbank updated the list of reporting validation rules, which have additionally been identified as defective from the national point of view, from Annex XV of the EBA implementing technical standards on supervisory reporting.

CPMI Publishes Strategy for Reducing Risk of Wholesale Payments

CPMI published a paper on the strategy for reducing the risk of wholesale payments fraud related to endpoint security. The strategy is composed of seven elements that work holistically to address all areas relevant to preventing, detecting, responding to, and communicating about fraud.

BDE Updates Technical Instructions for Financial Reporting by Banks

BDE published technical instructions on rules for the presentation and telematic transmission of financial statements of credit institutions, according to the specified eXtensible Business Reporting Language (XBRL) standard and other financial documentation.

Central Bank of Ireland Issues Credit Data Templates Under AnaCredit

The Central Bank of Ireland published documents related to the reporting of credit data under the AnaCredit Regulation.

FSB Consults on Recommendations for Compensation Data Reporting

FSB launched a consultation on the recommendations for consistent national reporting of data on the use of compensation tools to address misconduct risk.

ESRB Updates the Overview of National Macro-Prudential Measures in EU

ESRB has updated its overview of national measures of macro-prudential interest in the EU and the European Economic Area.

EBA Welcomes the EC Call for Advice on Basel III Implementation in EU

EBA welcomed the call for advice by EC on the implementation of Basel III framework, which BCBS had finalized in December 2017.

ESMA Offers Company Portal Listing Service Providers Authorized in EU

ESMA has compiled a new companies’ portal for investors seeking information on whether a financial service provider is authorized in the EU.

APRA to Finalize Design of the New Data Collection Solution This Year

APRA had commenced a major data transformation program to keep pace with the advancements in data, analytics, and technology. In December of last year, APRA had announced its decision to replace the data collection tool, Direct to APRA (D2A), with a new Data Collection Solution.

FSB Issues Updates on Meetings of RCGs for Sub-Saharan Africa and MENA

FSB published the meeting updates of its Regional Consultative Groups (RCGs) for Sub-Saharan Africa and the Middle East and North Africa (MENA).

ESAs Consult on Amendments to Joint EMIR Standards

ESAs launched two joint consultations to amend regulatory technical standards on the clearing obligation and risk mitigation techniques for uncleared OTC derivatives.

EBA Publishes Results of the 2016 CVA Risk Monitoring Exercise

EBA published a report on its 2016 credit valuation adjustment (CVA) risk monitoring exercise.

OSFI Advises on IFRS 17 Transition and Progress Report Requirements

OSFI issued and advisory for the federally regulated insurers and insurance holding companies (FRIs) to support their transition to IFRS 17 Insurance Contracts Standard (IFRS 17).

CBIRC Finalizes Measures for Managing Large Exposures of Banks

CBIRC issued rules for the management of large-scale exposures of commercial banks, with July 01, 2018 as the effective date.

HKMA Announces Publication of BDAR 2018 into the Gazette

HKMA announced that the Banking (Disclosure) (Amendment) Rules 2018 (BDAR 2018) and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 (Amendment Notice 2018) were published in the Gazette.

Sabine Lautenschläger of ECB on Risk Reduction in the Euro Area

Sabine Lautenschläger of ECB examined the role of the European banking union in risk reduction in the euro area. She highlighted the need for a harmonized regulatory framework to "reap the full benefits of the banking union."

Bundesbank Updates XML Schema for Securities Investments Statistics

Deutsche Bundesbank published the XML format description for securities investments statistics.

CSRC Consults on Rules on the Issuance of China Depository Receipts

CSRC issued draft rules on the issuance and trading of China Depository Receipts. The regulatory requirements and the basic rights and obligations of the participating entities provide an institutional basis for the innovative enterprises to return to the domestic capital market through the issuance of depository receipts.

Randal Quarles of FED Speaks on Impact of LCR on FED Balance Sheet

Randal K Quarles of the FED spoke at the Hoover Institution Monetary Policy Conference in Stanford, California. He examined the impact of liquidity coverage ratio (LCR) requirements on the FED balance sheet.

BCL Updates Phase 2 Testing Timeline for AnaCredit Reporting

BCL updated instructions, validation rules, and list of agents for AnaCredit reporting. The second test phase will now run from June 01, 2018 to July 31, 2018 and will only concern credit data.

BoE Consults on Working Draft of Standalone MREL Reporting Taxonomy

BoE published a public working draft of the standalone minimum requirement for own funds and eligible liabilities (MREL) reporting taxonomy, along with the related technical artefacts.

ECB Publishes the Annual Report on Financial Integration in Europe

ECB released its annual report on financial integration in Europe, at a joint conference with EC in Frankfurt. The report contributes to the advancement of the financial integration process in Europe by analyzing the relevant developments and policies.

EC Issues Report on Financial Stability and Integration in Europe

EC published a report on the results of the annual European financial stability and integration review. The report analyzes the recent economic and financial developments in the EU, along with their impact on financial stability and integration.

SNB Updates Reporting Form for Short-Term Liquidity Coverage Ratio

SNB updated the reporting form for Liquidity Coverage Ratio (with Facilitation) for branches of foreign banks.

CBB Amends Forms PIR and PIRI to Include IFRS9 and FAS30 Requirements

CBB amended the Form Prudential Information Report (PIR) for conventional banks and Form Prudential Information Returns for Islamic Banks (PIRI).

ECB Publishes Framework for Testing Resilience to Cyber Attacks

ECB published the European framework for Threat Intelligence-Based Ethical Red Teaming (TIBER-EU).

ESMA Launches Bond Liquidity System Under MiFID II

ESMA published its first liquidity assessment for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

LEIROC Publishes Progress Report on GLEIS and Regulatory Uses of LEI

LEIROC published its second progress report on Global Legal Entity Identifier System (GLEIS) and the regulatory uses of Legal Entity Identifier (LEI).

Ignazio Angeloni of ECB Speaks on Banking Supervision

Ignazio Angeloni of ECB spoke about ECB Banking Supervision at the Financial Times–Fitch Global Banking Conference in London. He described the accomplishments of ECB Banking Supervision, pointed out the missing or incomplete elements, and examined the challenges and developments that lie ahead.

MAS Responds to Consultation on Mandatory Clearing of OTC Derivatives

MAS published a response to the feedback received on draft regulations for mandatory clearing of derivatives contracts. MAS will require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs) with effect from October 01, 2018.

FED Publishes OMB Supporting Statement on FFIEC 031, 041, 051 and 016

FED published OMB supporting statement for Call Reports FFIEC 031, FFIEC 041, and FFIEC 051, in addition to the supporting statement for FFIEC 016.

APRA Chair Speaks on Realizing Benefits of BEAR Beyond the Necessities

The APRA Chairman Wayne Byres spoke at the UNSW Center for Law Markets and Regulation Seminar in Sydney. He discussed the five main elements to the Banking Executive Accountability Regime (BEAR): registration, obligations, accountabilities, remuneration, and sanctions.

IMF Publishes Reports on the 2018 Article IV Consultation with Israel

IMF published its staff report and selected issues report after concluding the 2018 Article IV consultation with Israel.

FED Proposes to Revise and Extend Form FR Y-9C for Three Years

FED proposed to extend for three years, with revision, the mandatory FR Y-9 family of reports on financial statements for holding companies.

IASB Issued Work Plan and Meeting Updates for April 2018

IASB published an updated work plan, along with the update of its meeting in April 2018.

PRA Publishes Updates on Groups Policy and Double Leverage

PRA published the policy statement PS9/18, which provides feedback on responses to the consultation paper CP19/17 on groups policy and double leverage.

PRA Issues Final Policy on Updates to Pillar 2 Reporting Requirements

PRA published the final policy statement PS8/18 on Pillar 2 reporting requirements.

PRA Publishes Model Risk Management Principles for Stress Testing

PRA published the policy statement PS7/18, which provides feedback to responses to the consultation paper CP26/17 on model risk management principles for stress testing.

FHFA Order on Stress Testing Result Reporting by Regulated Entities

FHFA issued Orders, dated March 01, 2018, with respect to stress test reporting as of December 31, 2017, under section 165(i)(2) of the Dodd-Frank Act. Summary instructions and guidance had accompanied the Orders to provide testing scenarios.

OJK Proposes Guidelines to Measure Interest Rate Risk in Banking Book

OJK issued a consultation on the guidelines for measurement and calculation of interest rate risk in the banking book (IRRBB) for commercial banks. OJK also provided tables containing the reporting requirements. Comments are due by May 14, 2018.

ECB Article on Systemic Importance of SSM Significant Institutions

ECB published an article that uses large exposure data to gauge the systemic importance of single supervisory mechanism (SSM) significant institutions.

IMF Publishes Report on the 2018 Article IV Consultation with Turkey

IMF published its staff report in the context of the 2018 Article IV consultation with Turkey.

IMF Paper on Results of Annual Macro-Prudential Survey

IMF published a paper that summarizes the results of its annual survey on the macro-prudential policy in member countries.

EBA Single Rulebook Q&A: Fourth Update for April 2018

This week, the Question and Answer (Q&A) updates on Single Rulebook include seven items related to liquidity risk and own funds under the Capital Requirements Regulation (CRR).

BaFin on FINREP 2.7 Forms for National GAAP Reporting for Solvency II

BaFin, the Federal Financial Supervisory Authority of Germany, published FINREP 2.7 forms for national GAAP reporting under the Solvency II reporting and disclosure requirements. BaFin also updated regulation on the reporting of insurance companies to the Federal Financial Supervisory Authority.

EBA Proposes Guidelines on Disclosure of Non-Performing Exposures

EBA proposed guidelines on disclosure of information on non-performing exposures (NPEs) and forborne exposures.

EC and European Stability Mechanism Lay Down Principles of Cooperation

EC and the European Stability Mechanism (ESM) are expected to sign a Memorandum of Understanding on the working relationship between the two institutions.

ECB and BoE Convene Technical Working Group on Risks Related to Brexit

ECB and BoE will convene a technical working group on risk management around March 30, 2019 in the area of financial services.

ECB Publishes Article on Targeted Review of Macro-Prudential Framework

ECB published an article that explains the key messages of ECB on the EC proposals that important for macro-prudential regulation and policy.

ESRB Updates the Overview of National Capital-Based Measures in EU

ESRB has updated its overview of national capital-based measures in the EU and the European Economic Area.

CBIRC to Speed Opening Up of Banking and Insurance Sectors

CBIRC intends to speed up the implementation of banking and insurance industry's opening to the outside world.

FSB Issues Second Consultation on UPI Governance Arrangements

FSB published a second consultation on the proposed governance arrangements for the unique product identifier (UPI).

BoE Publishes Version 3.0.0 of the XBRL Taxonomy for Banks

BoE published v1.0.1 of the financial statements XBRL utility that contains a fix for the commonly reported bug in v1.0.0, where the incorrect firm reference number (FRN) was being entered into the XBRL code.

CFTC Publishes Paper Analyzing Implementation of Swaps Reform

CFTC published whitepaper on swaps regulation, which the CFTC Chairman J. Christopher Giancarlo co-authored with CFTC Chief Economist Bruce Tuckman. Mr. Giancarlo unveiled the white paper at the annual meeting of International Swaps and Derivatives Association (ISDA).

Elke König of SRB on Completing the Banking Union

The SRB Chair Elke König published an article on the completion of Banking Union. In the article, she emphasized that we should take a step back and identify further elements, which impede the completion of a full-fledged Banking Union.

Elke König of SRB Publishes Article on the Way Forward with MREL

SRB published an article by Elke König in which she discussed the way forward with minimum requirement for own funds and eligible liabilities (MREL).

Dietrich Domanski of FSB Offers Updates on Planned Work for 2018

The FSB Secretary General Dietrich Domanski updated the audience on the planned work of FSB for 2018, while speaking at the Eurofi Seminar in Sofia.

Andrew Bailey of FCA Offers Regulatory Take on Asset Management Sector

Andrew Bailey of FCA offered a regulatory perspective on the asset management sector, while speaking at the London Business School Annual Asset Management Conference.

FED Proposes Simplification to Capital Rules for Large Banks

FED seeks comment on proposal to simplify its capital rules for large banks, while preserving strong capital levels that would maintain the ability to lend under stressful conditions.

ESRB Reviews Macro-Prudential Policy in the EU in 2017

ESRB published a report on the review of the macro-prudential measures adopted in EU in 2017.

EC Outlines Approach to Set Guidelines for Artificial Intelligence

EC outlined an approach to artificial intelligence (AI) and robotics.

EC Amends Implementing Regulations on Credit Risk Assessments of ECAIs

EC published, in the Official Journal of European Union, the amended level 2 measures regarding credit risk assessments of external credit assessment institutions (ECAIs) under the Capital Requirements Regulation (CRR or EU Regulation No 575/2013) and the Solvency II Directive.

William Coen of BCBS Discusses Progress on Market Risk Framework

During the keynote speech at the ISDA Annual General Meeting, William Coen, the Secretary General of BCBS, discussed the market risk framework, which is the one element of the post-crisis reform agenda has yet to be fully finalized.

OCC Consults on Information Collection on Credit Risk Retention

OCC is soliciting comment concerning the renewal of its information collection titled “Credit Risk Retention.” OCC is also giving notice that it has sent the collection to OMB for review. Comments are to be submitted by May 25, 2018.

FSB Article on Achieving G20 Goal of Resilient Market-Based Finance

FSB published an article by the Secretary General Dietrich Domanski on achieving the G20 goal of resilient market-based finance.

NCUA Amends Regulations on Capital Planning and Stress Testing

The NCUA Board issued the final rule to amend its regulations on capital planning and stress testing for federally insured credit unions with USD 10 billion or more in assets (also known as the covered credit unions).

IAIS Publishes Newsletter for April 2018

This issue highlights that IAIS held a public discussion session to provide background information on the resolution of comments received during the public consultation on ComFrame, answer stakeholder questions on the outcome of the consultation, and present the next steps in the development of ComFrame.

DNB Publishes Banking and Insurance Newsletters for April 2018

DNB issued the banking and insurance newsletters for April 2018. The newsletters include updated calendars for banks and insurers.

MAS Proposes Guidelines on Individual Accountability and Conduct

MAS proposed guidelines to strengthen individual accountability of senior managers and raise standards of conduct in financial institutions.

IMF Issues Reports on Financial Surveillance of West African EMU

IMF issued its staff report and selected issues report resulting from discussions with the regional institutions of the West African Economic and Monetary Union (WAEMU).

BDF Issues Framework for Financial Entities for AnaCredit Reporting

BDF published the framework of financial institutions and public administrators for AnaCredit reporting.

Bank of Italy Publishes Notification on AnaCredit Updates

Bank of Italy published a notification that it has updated certain documentation on the website for AnaCredit reporting.

EC Vice President Speaks on Completing CMU and Managing Brexit

While addressing the audience at City Week in London, the EC Vice President Valdis Dombrovskis offered a snapshot of the work of EC toward breaking down barriers and further integrating the EU single market for capital.

IOSCO Consults on Good Practices for Supporting Audit Quality

IOSCO published a consultation report on good practices for audit committees in supporting audit quality. The report is intended to assist audit committees of issuers of listed securities in promoting and supporting audit quality.

US Treasury Report Highlights Regulatory Reform Accomplishments

The U.S. Treasury Department released a report detailing its accomplishments in support of the President’s regulatory reform agenda.

CBB Proposes New Rulebook Modules for Conventional and Islamic Banks

CBB is proposing new risk management related modules to the Rulebook Volumes 1 and 2, along with additional requirements to an existing High-Level Controls Module (Module HC).

APRA Publishes Final Standards on Counterparty Credit Risk for Banks

APRA published the final prudential and reporting standards related to counterparty credit risk for authorized deposit-taking institutions.

BCBS Issues Fourteenth Progress Report on Adoption of Basel III

BCBS published the fourteenth progress report on adoption of the Basel III regulatory framework.

EIOPA Publishes Its Supervisory Convergence Plan for 2018–2019

EIOPA published its supervisory convergence plan for 2018-2019 for the insurance sector. The focus is on the implementation of Solvency II and conduct of business supervision.

Elke König of SRB Speaks on Making Every Bank Resolvable in EU

The SRB Chair Elke König spoke about the experience, at the SRB, in working on banking resolution, while addressing the audience at the Institute for Law and Finance on the Westend Campus of Goethe University in Frankfurt.

ESRB Paper Examining Survey Responses of Banks and Insurers to Stress

ESRB published an occasional paper that shows results from the ESRB surveys of the responses of banks and insurance companies to stress tests. The paper describes the surveys and their insights regarding potential adverse feedback loops.

US Treasury Extends Compliance Dates for QFC Recordkeeping Requirement

The U.S. Department of the Treasury is adopting a final rule that extends the compliance dates of the regulation implementing the qualified financial contract (QFC) recordkeeping requirements related to Orderly Liquidation Authority under the Dodd-Frank Act.

Benoît Cœuré of ECB Speaks on a Cooperative Approach to CCP Resolution

Benoît Cœuré of ECB spoke at the ILF Conference on “Resolution in Europe: the unresolved questions” in Frankfurt.

APRA Publishes List of D2A Validation Rules for Banks and Insurers

APRA published a list of the latest Direct to APRA (D2A) validation rules for authorized deposit-taking institutions and insurers.

BCBS Updates FAQ and Workbook on Basel III Monitoring

BCBS updated the list of frequently asked questions (FAQ) and the workbook (version 3.7.5) on Basel III monitoring for the collection of December 2017 data.

EBA Single Rulebook Q&A: Third Update for April 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A).

FSB Publishes Toolkit to Mitigate Misconduct Risk

FSB published a report that presents a toolkit for firms and supervisors to strengthen the governance frameworks to mitigate misconduct risk.

EBA Proposes Guidelines for Interpreting STS Securitization Criteria

EBA launched a public consultation on the draft guidelines that will provide a harmonized interpretation of the criteria for a securitization to be eligible as simple, transparent, and standardized (STS).

PRA Consults on Internal Model Output Reporting Under Solvency II

PRA published the consultation paper CP10/18, which proposes updates to the internal model output reporting by updating the supervisory statements SS25/15 and SS26/15.

William Dudley of New York Fed Examines Incentives for Bank Resilience

William C Dudley, the President and CEO of the New York Fed, spoke at the U.S. Chamber of Commerce in Washington DC. He discussed financial regulation and the ways in which proper incentives help ensure resilience in the financial system.

European Parliament Adopts EC Proposal on the Fifth AML Directive

European Parliament adopted the EC proposal on the fifth Anti-Money Laundering (AML) Directive.

FED Governor Speaks on Remaining Regulatory Work for Financial Sector

The FED Governor Lael Brainard spoke, at the Global Finance Forum in Washington, D.C., about safeguarding financial resilience through the current economic cycle.

Andreas Dombret of Bundesbank on Impact of Brexit on Global Finance

Dr. Andreas Dombret of Deutsche Bundesbank spoke at the 2018 Europe-U.S. Symposium of the Harvard Law School Program on International Financial Systems in New York.

Ed Sibley of Central Bank of Ireland on Impact of Brexit

Ed Sibley, Deputy Governor (Prudential Regulation) of the Central Bank of Ireland, addressed the DCU Brexit Institute in Dublin on April 12, 2018.

EIOPA Publishes Report on Oversight Activities in 2017

EIOPA published a report on its oversight activities in 2017. The report, which is addressed to the European Parliament, describes the activities of EIOPA during the year, explains its approach to oversight, and outlines the priorities for 2018.

EIOPA Q&A on Regulations: First Update for April 2018

EIOPA published new sets of questions and answers (Q&A) on guidelines, implementing regulations, and delegating regulations that are applicable to insurers in Europe.

MAS Issues Guide to Conduct and Market Practices for Wholesale Markets

MAS published a guide to conduct and market practices for wholesale financial markets, along with the FAQs on this guide.

ESMA Updates Bond Transparency Calculations for MiFID II and MiFIR

ESMA updated the MiFID II and MiFIR transitional transparency calculations (TTC) for bonds.

OSFI Issues Final TLAC Guideline and Revises CAR Guideline for Banks

OSFI released its final Total Loss Absorbing Capacity (TLAC) guideline for the domestic systemically important banks (D-SIBs) in Canada.

Superintendent of OSFI Speaks on Covered Bonds Framework in Canada

The OSFI Superintendent Jeremy Rudin addressed the European Covered Bond Council about the role of OSFI in supporting the integrity of the covered bonds framework in Canada.

Dubai FSA Issues Second Consultation on Changes to AML Regime

Dubai FSA launched the second phase of its consultation process that proposes changes (via CP120) to the Anti Money Laundering, Counter-terrorist Financing, and Sanctions (AML) Module of its Rulebook.

EBA Proposes Guidelines for Exposures to be Associated with High Risk

EBA launched a consultation on the guidelines about the types of exposures that are to be associated with high risk under the Capital Requirements Regulation (CRR).

EBA Issues Reporting Framework Version 2.8

EBA published amendments to the implementing technical standards on supervisory reporting and new implementing technical standards on reporting for resolution plans, along with the corresponding Data Point Model (DPM) and eXtensible Business Reporting Language (XBRL) taxonomy.

SRB Statement on Cooperation with EBA on 2019 Resolution Reporting

SRB announced that it has cooperated closely with EBA regarding the reporting on resolution as of 2019, in particular for the Liability Data Report (LDR).

Randal Quarles of FED on Simplifying and Enhancing Financial Rules

Randal K. Quarles, Vice Chairman for Supervision of the FED, testified before the Committee on Financial Services, U.S. House of Representatives in Washington, D.C.

FSI Update on Second High-Level Meet of Insurers in Dominican Republic

The Dominican Republic's regulatory authority for insurance hosted the Second High-level Meeting in Santo Domingo.

EBA Single Rulebook Q&A: Second Update for April 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A). The answer addressed a question on the credit claims in liquidity stress test buffer.

ESMA Introduces Its Approach for Analyzing Operational Risk

ESMA published an article on its approach toward the assessment of operational risk in its first Trends, Risks, Vulnerabilities (TRV) Report in 2018.

Bank of Italy Publishes Version 1.1 of Handbook on AnaCredit Reporting

Bank of Italy published Version 1.1 of the handbook on AnaCredit reporting. It also published a list of intermediaries reporting monthly, a list of banks reporting quarterly, and a list of banks exempted from reporting.

ACPR Updates Taxonomic Controls Related to Taxonomy RAN 1.1.0

ACPR published a new version of the file "Taxonomic controls" related to the Taxonomy RAN Version 1.1.0 for Solvency II reporting.

ECB Publishes Version 1.1 of AnaCredit Validation Checks

ECB published Version 1.1 of the AnaCredit validation checks. This document supplements the AnaCredit reporting manual by explaining the main set of validation checks that will be performed to ensure that the quality of data is satisfactory.

ESAs Issue Report on Risks and Vulnerabilities in EU Financial System

ESAs published a joint committee report on risks and vulnerabilities in the EU financial system.

FED Updates the Reporting Instructions for FR Y-15 and FR Y-14A/Q

Among the FED information collections that have been under review, FED updated the reporting instructions for form FR Y-15, which is the banking organization systemic risk report.

CBE Publishes Q&A on the Pre-Implementation of IFRS 9

CBE published a set of questions and answers (Q&A) on the pre-implementation of IFRS 9.

PRA Issues Letter on Capital Extractions by Insurance Firms in Run-Off

PRA published a letter to CEOs of insurance firms in run-off, reminding them that they should closely consider the supervisory statement SS4/14 on capital extractions by run-off firms within the general insurance sector when preparing a request for capital extraction for submission to PRA.

BaFin Publishes Its Priorities on Insurance Supervision for 2018

BaFin published its priorities on insurance supervision for 2018. The insurance supervisory authority sets its priorities annually for the effective and efficient use of resources, in particular in the interests of risk-oriented supervision.

ECB Publishes A Paper Examining the European Deposit Insurance Scheme

ECB published an occasional paper that investigates the potential impact and appropriateness of several features of the European Deposit Insurance Scheme (EDIS) in the steady state.

ESMA Publishes Responses to its Consultations on Securitization

ESMA published the responses received to its three consultations on securitization. These consultations are on disclosure and operational standards; simple, transparent, and standardized (STS) notification; and third-party firms providing STS verification services.

FED and OCC Propose to Further Tailor eSLR Requirements for G-SIBs

FED and OCC proposed a rule that would further tailor leverage ratio requirements to the business activities and risk profiles of the largest domestic firms.

EC Issues Draft Report on Proposal Amending CRR and MiFIR

EC issued a draft report on the proposal for a regulation on the prudential requirements of investment firms and amending Capital Requirements Regulation or CRR (No 575/2013), Markets in Financial Instruments Regulation or MiFIR (No 600/2014), and Regulation No 1093/2010.

Pentti Hakkarainen of ECB on Importance of Implementing EDIS in EU

Pentti Hakkarainen of ECB spoke, at the European Bank Executive Committee Forum organized by BNP Paribas in Brussels, about how the euro area and the Banking Union are helping to facilitate financial integration.

PRA Consults on Audit of Public Disclosure Requirement for Solvency II

PRA published the consultation paper CP8/18 related to the external audit of the public disclosure requirement under Solvency II.

PRA Consults on Modeling of Volatility Adjustment for Solvency II

PRA published the consultation paper CP9/18, titled “Solvency II: Internal models – modeling of the volatility adjustment.” CP9/18 sets out the PRA proposal to consider applications from internal model firms that include a dynamic volatility adjustment (DVA).

CPMI-IOSCO Publish Framework for Supervisory Stress Testing of CCPs

CPMI and IOSCO published the framework for supervisory stress testing of central counterparties (CCPs).

Danièle Nouy of ECB on Improving Risk Appetite Frameworks of Banks

Danièle Nouy of ECB spoke at the International Conference on Banks’ Risk Appetite Frameworks in Ljubljana. She defined the risk appetite framework and explained how to judge the quality of risk appetite frameworks.

EBA Report on Benchmarking of Remuneration Practices in EU Banks

EBA published its report on benchmarking of remuneration practices in EU banks for 2015 and 2016 (financial years) and high earners data for 2016.

EBA Updates List of Correlated Currencies

EBA updated the list of closely correlated currencies that was originally published in December 2013 and updated in October 2016.

ECB Consults on Cyber Resilience Oversight Expectations for FMIs

ECB launched a public consultation on the draft expectations for cyber resilience oversight for financial market infrastructures.

EC Held Digital Day 2018 to Build a Strong Digital Single Market

EC held Digital Day 2018 and brought together ministers, representatives of EU countries, industry, academia, and civil society representatives to encourage cooperation in artificial intelligence, blockchain, eHealth, and innovation.

ESMA Invites EC to Clarify Ancillary Activity Test Under MiFID II

ESMA wrote a letter inviting EC to provide further guidance on how the ancillary activity criteria set out in Article 2(4) of the Markets in Financial Instruments Directive, and further specified in RTS 20, are to be interpreted and implemented—and more specifically at which level the ancillary tests should be performed.

FFIEC on Cyber Insurance and its Potential Role in Risk Management

FFIEC members (FED, CFPB, FDIC, NCUA, OCC, and State Liaison Committee) issued a joint statement to describe the matters that financial institutions should consider when determining whether to use cyber insurance as a component of their risk management programs.

FSI Paper on Identification and Measurement of Non-Performing Assets

FSI of BIS published a paper on the identification and measurement of non-performing assets (NPAs).

IMF Publishes Global Financial Stability Report in April 2018

The Global Financial Stability Report (GFSR) provides an assessment of the global financial system and markets and addresses the emerging market financing in a global context.

EC Adopts STS Securitization and ABCP Regulation Amending MMFR

EC adopted a Commission Delegated Regulation on simple, transparent, and standardized (STS) securitizations and asset-backed commercial papers (ABCPs), requirements for assets received as part of reverse repurchase agreements, and credit quality assessment methodologies.

China Banking Insurance Regulatory Commission Replaces CBRC and CIRC

The China Banking Insurance Regulatory Commission (CBIRC) has been formally listed and its website was launched on April 08, 2018.

CPMI-IOSCO Guidance on Harmonization of OTC Derivatives Data Elements

CPMI and IOSCO issued technical guidance to authorities on harmonized definitions, formats, and usage of a set of critical data elements for over-the-counter (OTC) derivative transactions reported to trade repositories, excluding the Unique Transaction Identifier (UTI) and the Unique Product Identifier (UPI).

ECB Publishes Its Annual Report for 2017

ECB published its annual report for 2017. The report covers the economic and financial developments, in addition to supervisory activities of ECB in 2017.

EC Issues Council Decision on Conclusion of EU-US Bilateral Agreement

EC published Council Decision (EU) 2018/539 on conclusion of the bilateral agreement between EU and the United States on prudential measures regarding insurance and reinsurance.

ESMA Agrees on Position Limits Under MiFID II

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

ESMA Publishes Calculations for the March Double Volume Cap

Within five working days of the end of the month, ESMA must publish the trading volumes and calculations regarding the double volume cap (DVC) under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

ESRB Updates Its Overview of National Macro-Prudential Measures in EU

ESRB updated its overview of the national measures of macro-prudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures, and various other measures.

FCA Publishes Its Business Plan for 2018-19

FCA published its business plan for 2018-19, setting out the key priorities for the coming year. Along with the business plan, FCA published a consultation paper on annual fees, its sector views, and a discussion paper on its evaluation framework.

MAS Consults on Capital Treatment of TLAC Holdings Under Notice 637

MAS issued a consultation paper on proposed regulatory capital treatment of banks’ holdings of TLAC liabilities under MAS Notice 637.

PRA Publishes Business Plan for 2018–19

PRA published its business plan for 2018–19. The business plan sets out the strategic goals, the workplan to deliver the strategic goals, and the PRA budget for the coming year.

BCL Updates Instructions and Other Documents for AnaCredit Reporting

BCL updated instructions, list of reporting agents, validation rules, and SDMX schemas, including technical specifications, cube structure, facets, and subdomains, for AnaCredit reporting.

EBA Single Rulebook Q&A: First Update for April 2018

This week, the Question and Answer (Q&A) updates on Single Rulebook include 13 items related to supervisory reporting and recovery and resolution.

FCA on Authorization for Firms Offering Cryptocurrency Derivatives

FCA issued a statement on the authorization requirement for firms offering cryptocurrency derivatives.

RBI Amends Its Comprehensive Guidelines on Derivatives

RBI issued modifications to its comprehensive guidelines on derivatives, with respect to the stand-alone plain vanilla forex options.

EBA Issues Updated Risk Dashboard for Fourth Quarter of 2017

EBA published the updated version of its Risk Dashboard, summarizing the main risks and vulnerabilities in the EU banking sector for the fourth quarter of 2017.

FCA Issues PS18/8 and CP18/9 on Remedies for Asset Management Market

FCA published the policy statement PS18/8 that sets out remedies for the concerns identified through its asset management market study.

FED Updates the Reporting Form and Instructions for FR Y-9C

Among the FED information collections that have been under review, FED updated the reporting form and instructions for FR Y-9C, which is the report on consolidated financial statements for holding companies.

IOSCO Issues Report on Improving Information on Corporate Bond Markets

IOSCO published the report offering recommendations to improve regulatory reporting and public transparency in the secondary corporate bond markets.

APRA Finds Room for Improvement in Executive Remuneration Practices

APRA released the results of a review of remuneration practices at large financial institutions. The findings reveal considerable room for improvement in the design and implementation of executive remuneration structures.

ECB Issues Opinion on Draft of a Securitization Framework in Cyprus

ECB issued an opinion on the draft law on securitization framework in Cyprus.

BDE Issues Instructions on Rules for Reporting of Financial Statements

BDE published technical instructions on rules for the presentation and telematic transmission of financial statements of credit institutions, according to the specified eXtensible Business Reporting Language (XBRL) standard and other financial documentation.

ESMA Publishes Annual Report of Enforcement Activities for 2017

ESMA publishes its 2017 annual report that provides an overview of the enforcement and regulatory activities of ESMA and the accounting enforcers in the EU, when examining compliance of financial information provided by issuers, under IFRS, in 2017.

ESMA Publishes Technical Advice Under the Prospectus Regulation

ESMA is publishing the first Part of its technical advice under the Prospectus Regulation.

IMF Issues Reports on the 2018 Article IV Consultation with Luxembourg

IMF published staff report and selected issues report in the context of the 2018 Article IV consultation with Luxembourg.

Lael Brainard of FED Offers Update on the Financial Stability Agenda

The FED Governor Lael Brainard provided an update on the financial stability agenda of FED in New York.

Dubai FSA Updates Rulebook and Sourcebook for Financial Institutions

Dubai FSA updated several modules of its Rulebook and Sourcebook for financial institutions.

CFPB Issues Semi-Annual Report Recommending Changes to Dodd-Frank Act

CFPB released its semi-annual report highlighting the work of CFPB from April 01, 2017 to September 30, 2017, the period before the President appointed Mick Mulvaney as Acting Director.

FDIC Proposes Revisions to the Stress Testing Regulation

FDIC is proposing several revisions to the stress testing regulation, which are consistent with the changes made by FED and OCC to their respective stress testing regulations.

IMF Issues Report on Financial Sector Stability Review of Costa Rica

IMF published the technical assistance report on the financial sector stability review (FSSR) of Costa Rica.

OCC Proposes to Renew Information Collection on Stress Testing

OCC is soliciting comments on the renewal of its information collection titled, “Guidance on Stress Testing for Banking Organizations with more than USD 10 Billion in Total Consolidated Assets.”

US Agencies Exempt Certain CRE Deals from Appraisal Requirements

US Agencies (FDIC, FED, and OCC) issued a final rule that increases the threshold for commercial real estate (CRE) transactions requiring an appraisal from USD 250,000 to USD 500,000.

IMF Issues Technical Note on Insurance Sector Regulation in India

IMF issued a technical note that provides an assessment of the recent development of regulation and supervision of the insurance sector in India.

US Agencies Finalize Revisions to Call Reports FFIEC 051, 041, and 031

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

BCBS Publishes Report on Frameworks for Early Supervisory Intervention

BCBS published a report presenting the findings of a range-of-practice study on how supervisors worldwide have adopted frameworks, processes, and tools to support early supervisory intervention.

OSFI Publishes Guideline on LICAT Public Disclosure Requirements

OSFI issued the final version of the guideline on Life Insurance Capital Adequacy Test (LICAT) public disclosure requirements.

PRA Publishes PS6/18 Containing Updated Statements SS13/13 and SS36/15

PRA published a policy statement PS6/18 that provides feedback to the responses to chapters 2 to 6, 9, and 10 of the PRA and FCA consultation paper CP18/17.

ESRB Publishes Paper on Indicators for Monitoring of CCPs in EU

ESRB, as part of its occasional paper series, published a paper examining the indicators for monitoring central counterparties (CCPs) in EU.

IMF Publishes Reports on the 2018 Article IV Consultation with Iran

IMF published staff report and selected issues reports in the context of the 2018 Article IV consultation with the Islamic Republic of Iran.

ACPR Updates Taxonomic Controls Concerning Taxonomy RAN 1.1.0

ACPR published a new version of the file "Taxonomic controls" related to the Taxonomy RAN Version 1.1.0 for Solvency II reporting.

Bundesbank Updates Credit Statistics Policy for AnaCredit Reporting

Deutsche Bundesbank published Version 2.0 of the Credit Statistics Policy for AnaCredit reporting.

Bundesbank Updates List of Disabled Validation Rules for Reporting

Deutsche Bundesbank updated the list of reporting validation rules that have additionally been identified as defective from the national point of view. EBA also provides a current list of incorrect validation rules on its website.

FINMA Revises Charts of Accounts for Collection of Supervisory Data

FINMA revised the chart of accounts on which the collection of supervisory data from insurance companies is based.

Central Bank of Ireland Consults on Amendments to UCITS Regulations

The Central Bank of Ireland is consulting (CP 119) on the amendments of its regulations on Undertakings for Collective Investment in Transferable Securities (UCITS). Comment period ends on June 29, 2018.

Bank of Finland Updates Validation Checks for AnaCredit Reporting

Bank of Finland updated documents related to AnaCredit reporting, including updated schema files (version 1.5) and validation checks for credit data collection (version 1.3).

BoE Issues Update on Regulatory Approach to Preparations for Brexit

BoE issued an update on the regulatory approach to preparations for the withdrawal of the UK from the EU (Brexit).

DNB Publishes Banking and Insurance Newsletters for March 2018

DNB issued the banking and insurance newsletters for March 2018.

ECB Consults on the First Part of Guide to Internal Models for Banks

ECB is consulting on the first chapter of the guide to internal models for the banks it directly supervises.

EIOPA Consults on Changes to Standards on Reporting and Disclosure

EIOPA published a consultation on corrections and amendments to the implementing technical standards on reporting and disclosure. EIOPA invites the interested stakeholders to provide inputs by May 11, 2018.

ESMA Issues Guidelines on Internalized Settlement Reporting Under CSDR

ESMA published its final guidelines on how to report internalized settlement under the Central Securities Depositories Regulation (CSDR).

ESMA Publishes Official Translations for Three Sets of CSDR Guidelines

ESMA published the official EU language versions of the three sets of guidelines under the Central Securities Depository Regulation (CSDR): guidelines on relevant currencies; guidelines on substantial importance of a Central Securities Depository (CSD); and guidelines on cooperation between authorities.

ESMA Updates Q&As on Prospectus Regulation and MiFID II/MiFIR

ESMA updated the question and answer (Q&A) document on issues related to the Prospectus Regulation. ESMA also updated Q&A on transparency and market structure issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

IMF Publishes Reports on the 2017 Article IV Consultation with Myanmar

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

PRA Issues Approach to Branch Authorization and Supervision for Banks

PRA published a Policy Statement PS3/18 that provides feedback to the responses to CP29/17 on the approach to branch authorization and supervision for international banks.

OFR Issues Paper on the Financial System Vulnerabilities Monitor

OFR published a paper describing the purpose, construction, interpretation, and use of its Financial System Vulnerabilities Monitor.

PRA Approach to Branch Authorization and Supervision for Insurers

PRA published a Policy Statement PS4/18 that provides feedback to the responses to CP30/17 on the approach to branch authorization and supervision for international insurers.

IFSB Proposes Standards on Islamic Banking, Securities, and Insurance

IFSB issued three Exposure Drafts covering standards in Islamic banking, Islamic capital markets, and Islamic insurance (takāful) sectors.

BoE Undertakes Proof of Concept to Understand Renewed RTGS Service

BoE is undertaking a Proof of Concept to understand how a renewed Real Time Gross Settlement (RTGS) service could be capable of supporting settlement in systems operating on innovative payment technologies, such as those built on Distributed Ledger Technology (DLT).

ECB Publishes Results of Study on Use of DLT in Securities Settlement

ECB published a report on the second phase of Project Stella, which is a joint research project of ECB and BOJ.

EC Vice President Speaks About Solvency II and Capital Markets Union

The EC Vice President Valdis Dombrovskis spoke at the public hearing on the Solvency II delegated act.

EIOPA Chairman Speaks on Review of Solvency II Regulation in 2018

The EIOPA Chairman Gabriel Bernardino spoke at the Public Hearing on the 2018 Review of the Solvency II Delegated Regulation in Brussels.

ESMA Consults on Supplementary Guidance Under the Endorsement Regime

ESMA proposed supplementary guidance on the application of the endorsement regime.

ESMA Issues Guidelines on Position Calculation by Trade Repositories

ESMA published the final guidelines setting out a consistent approach for calculation of derivative positions by trade repositories, under the European Market Infrastructure Regulation (EMIR).

ESMA Updates Q&A on MiFID II Commodity Derivatives Topics

ESMA updated the questions and answers (Q&As) on the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) regarding commodity derivatives topics.

HKMA and SFC Consult on Enhancing OTC Derivatives Regulatory Regime

HKMA and SFC issued a joint consultation paper on further enhancements to the over-the-counter (OTC) derivatives regulatory regime in Hong Kong.

BCBS Issues Basel III Monitoring Updates for March 2018

BCBS released the Basel III monitoring workbook (version 3.7.4), along with an updated list of frequently asked questions for the collection of December 2017 data.

HKMA Implementation Guidance on Securitization Framework for Banks

HKMA published a set of questions and answers (Q&A) on the revised securitization framework under the Banking (Capital) Rules (BCR).

BCL Issues Instructions and Validation Rules for AnaCredit Reporting

BCL updated reporting instructions, list of reporting agents, and validation rules for reporting under the AnaCredit Regulation.

Danièle Nouy of ECB Presents Annual Report on Supervisory Activities

Danièle Nouy, Chair of the ECB Supervisory Board, presented the ECB annual report on supervisory activities for 2017.

EC Amends IFRS 9 on Prepayment Features with Negative Compensation

EC published Regulation (EU) 2018/498, which amends Regulation (EC) No 1126/2008, adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 as regards International Financial Reporting Standard (IFRS) 9.

ECB Updates CCBM Procedures for Eurosystem Counterparties

ECB updated the correspondent central banking model (CCBM) procedures for Eurosystem counterparties, along with a table summarizing legal instruments used in the euro area.

BCRA Updates on Minimum Capital Requirements and Information Regime

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

BCBS Publishes an Outline of Discussion at its Meeting in Basel

BCBS published a summary of the discussions at its meeting during March 15-16, 2018 in Basel.

EBA Single Rulebook Q&A: Third Update for March 2018

One question related to market risk benchmarking was published as part of the Single Rulebook Question and Answer (Q&A) this week.

ECB Guides to Assess License Applications for Banks and Fintech Firms

ECB published the guides to assessments of license applications for banks and fintech credit institutions. The publication of these two guides follows the completion of a public consultation.

EC Vice President Speaks on the Future of Fintech in Baltics and EU

The EC Vice President Valdis Dombrovskis spoke about the future of fintech in Europe during a conference in Latvia.

ESMA Proposes Application Requirements for Securitization Repositories

ESMA published two consultation papers on draft technical standards implementing the Securitization Regulation.

ESMA Updates Q&As on the Implementation of MiFID, CSDR, and MAR

ESMA updated question and answer (Q&A) documents on the implementation of investor protection topics under Market in Financial Instruments Directive and Regulation (MiFID II/MiFIR), implementation of Central Securities Depository Regulation (CSDR), and implementation of Market Abuse Regulation (MAR).

IAIS Publishes Newsletter for March 2018

This issue highlights that IAIS is in the process of a comprehensive revision of its Insurance Core Principles (ICPs) and the development of ComFrame.

IASB Issued Work Plan and Meeting Updates for March 2018

IASB published an updated work plan, along with the update of its meeting in March 2018.

BCBS Consults on Amendment to Pillar 3 Disclosures for ECL Provisions

BCBS proposed a technical amendment on Pillar 3 disclosure requirements for regulatory treatment of accounting provisions.

BCBS Consults on Revisions to Capital Requirements for Market Risk

BCBS launched a consultation on revisions to the minimum capital requirements for market risk.

BCBS Updates FAQs on the Basel III Standard on SA-CCR

BCBS published answers to the second set of frequently asked questions (FAQ) on the Basel III standard for standardized approach for measuring counterparty credit risk exposures (SA-CCR).

Danièle Nouy of ECB Speaks on Good Governance for Good Decisions

Danièle Nouy of ECB spoke at the Second Banking Supervision Conference in Frankfurt, highlighting the progress made by banks in the area of sound governance.

EBA Updates Public Entity List for Calculation of Capital Requirements

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

EC Conference on Strategy to Support Sustainable Development in EU

EC hosted a high-level conference on its strategy to reform the financial system in support of the climate and sustainable development agenda of EU.

ESMA Updates Q&A on Implementation of the Benchmarks Regulation

ESMA updated its questions and answers (Q&A) document on the implementation of the Benchmarks Regulation.

GAO Report Assesses Regulatory Oversight of Fintech Activities in US

The U.S. GAO published a report that assesses the regulatory oversight in the fintech landscape in the United States and offers recommendations for improvement.

HKMA Updates Guide on Enhanced Competency Framework for AML/CFT

HKMA updated the guide to the enhanced competency framework on anti-money laundering and counter-financing of terrorism (AML/CFT), which provides details of the application of this framework.

BNM Finalizes Paper on Value-Based Intermediation in Islamic Banking

BNM published the finalized strategy paper and feedback statement on value-based intermediation (VBI).

EBA Guidelines on Assessment of Suitability of Members of Management

EBA published guidelines on the assessment of the suitability of members of the management body and key function holders.

EC Consults on Fitness Check of the EU Framework for Public Reporting

EC launched a consultation on the fitness check on the EU framework for public reporting by companies.

EIOPA Issues Paper on Solvency II Tools with Macro-Prudential Impact

EIOPA published a paper on Solvency II tools with macro-prudential impact.

ESMA Chair Steven Maijoor Speaks About Brexit and Review of ESAs

The ESMA Chair Steven Maijoor delivered the opening remarks at the BVI 2018 Annual Reception in Brussels.

ESMA Issues Opinion on Trading Obligation for Derivatives Under MiFIR

ESMA issued an opinion providing further guidance on the treatment of packages under the trading obligation for derivatives, which the Markets in Financial Instruments Regulation (MiFIR) introduced on January 03, 2018.

ESMA Issues Translations for Guidelines on Stress Test Scenarios

ESMA published the official translations of its guidelines on stress test scenarios under Article 28 of the Money Market Funds (MMF) Regulation.

FED Publishes Federal Register Notice on Reporting Form FR Y-9

FED published the Federal Register notice extending for three years, with revision, the mandatory FR Y-9 family of reports on financial statements for holding companies.

MFSA Updates Reporting Templates on Own Funds Requirements Under COREP

MFSA updated templates on own funds and own funds requirements, including leverage and immovable property losses, for reporting on individual and consolidated basis.

OSFI Consults on Draft Guideline for TLAC Disclosure Requirements

OSFI is consulting on the draft Total Loss-Absorbing Capacity (TLAC) Disclosure Requirements guideline, along with the consequential amendments to the Capital Disclosure Requirements guideline.

BDF Updates Document on AnaCredit Controls for Reporting

BDF published the updated documents on “AnaCredit BDF Controls” and “List of attributes allowing the NA value.”

Dr. Dombret of Bundesbank on Post-Brexit Realities in Financial Sector

Andreas Dombret of Deutsche Bundesbank spoke at the AIMA Global Policy and Regulatory Forum in Dublin. He looked at the estimated extent of fragmentation in regulation of financial services after Brexit and how to address this issue.

Elke König of SRB Speaks on Proportionality and MREL Implementation

The SRB Chair Elke König, at the European Parliament Hearing, shared her views on the application of proportionality principle and the amendments to Capital Requirements Regulation, Capital Requirements Directive, Bank Recovery and Resolution Directive, and Single Resolution Mechanism Regulation.

G20 Publishes Communiqué on the First Meeting of 2018 in Buenos Aires

G20 published an official statement on the year's first meeting of finance ministers and central bank governors in Buenos Aires.

IMF Releases Working Paper Offering Policy Proposals on CCP Resolution

IMF published a working paper that proposes alternative policy suggestions for central counterparty (CCP) resolution.

Bank of Italy Begins Test Phase for AnaCredit Reporting

Bank of Italy updated the schema files for AnaCredit reporting and published details on a voluntary test phase with reporting intermediaries, with the test environment being available from March 26, 2018.

APRA Updates the List of D2A Validation and Derivation Rules

APRA published list of the latest Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, superannuation, general insurance, life insurance, private health insurance, registered financial corporations, and unauthorized foreign insurers.

APRA Allows ING Bank to Use Internal Models for Regulatory Capital

APRA granted approval to ING Bank (Australia) Limited to begin using the internal models. The ING Bank will use internal models to determine its regulatory capital requirements for credit and market risk, commencing from the quarter ended June 30, 2018.

APRA Revises Prudential Standard on Public Disclosures

APRA revised and published the final standard APS 330, which is the Prudential Standard on Public Disclosures. APS 330 will be effective from July 01, 2018. APRA also published its response to the submissions received to the proposal for revised APS 330.

EBA Report Assesses the Current Credit Risk Mitigation Framework in EU

EBA published a report reviewing the Credit Risk Mitigation (CRM) framework in EU.

APRA Revises Its Reporting Standard on Capital Adequacy

APRA published a letter to authorized deposit-taking institutions regarding changes to reporting requirements in the Reporting Standard ARS 110.0 Capital Adequacy (ARS 110.0).

SBIF Amends Chapter 1-13 of Updated Collection of Standards in Chile

SBIF published circular on amendments to Title II of Chapter 1-13 of the updated collection of standards.

FSB Letter Sets Out Priorities for the Argentine G20 Presidency

FSB published a letter that its Chair Mark Carney sent to the G20 Finance Ministers and Central Bank Governors, ahead of their meeting in Buenos Aires on March 19-20.

BoE Publishes Key Elements of 2018 Stress Test of Banking System in UK

BoE published the scenario against which it will be stress-testing banks in 2018, in addition to setting out the key elements of the 2018 stress test, guidance on the 2018 stress test, the variable paths for the 2018 stress test, and the traded risk scenario for the 2018 stress test.

EBA Report Assesses Progress in Work of Supervisory Colleges in 2017

EBA published its report examining the functioning of supervisory colleges in 2017.

FSB Publishes Reports on Correspondent Banking and Remittances

FSB published two reports as part of its work to assess and address the decline in correspondent banking relationships: one is a progress report on the FSB action plan to assess and address the decline in correspondent banking and the second report is a stocktake on remittance service providers’ access to banking services.

IFRS Foundation Publishes IFRS Taxonomy 2018

IFRS Foundation published the IFRS Taxonomy for 2018, which includes updates to the IFRS Taxonomy for 2017.

Poul Thomsen of IMF on Ensuring Stability Via Macro-Prudential Policy

Poul Thomsen, Director of the IMF European Department spoke, at the “ECB and Its Watchers” Conference in Frankfurt, about the role of macro-prudential policies in maintaining financial stability.

EBA Publishes Roadmap for Fintech and Announces FinTech Knowledge Hub

EBA published its fintech roadmap, which contains the priorities and indicative milestones for 2018-2019 in the area of fintech.

ESAs Publish Report Analyzing Impact of Big Data in Financial Sector

The Joint Committee of ESAs published the final report analyzing the impact of Big Data on consumers and financial firms.

FSB Survey on Impact of Regulatory Reforms on Infrastructure Financing

FSB launched a voluntary survey on the trends, drivers, and potential effects of regulatory reforms on infrastructure financing.

Ravi Menon of MAS on the Evolving Regulatory Approach on Crypto Assets

Ravi Menon of MAS spoke at the Money20/20 Conference in Singapore about the current state of thinking on crypto assets (or crypto tokens), along with the evolving regulatory approach of Singapore.

Benoît Cœuré of ECB on Interaction Between Fintech and Regulation

Benoît Cœuré of ECB spoke about the two-way interaction between financial regulation and financial technology (fintech) during his introductory remarks at a roundtable organized by FinLeap in Berlin.

EBA Advises EC on Use of Backstops to Prevent Building Up of New NPLs

EBA published its advice on the EC proposal for statutory prudential backstops on banks' provisioning practices for new loans that turn non-performing.

EBA Issues Opinion on Measures to Address Macro-Prudential Risk

EBA issued an Opinion on the measures to address macro-prudential risk.

ECB Finalizes Addendum to Guidance on Non-Performing Loans

ECB published the final addendum to the ECB Guidance to banks on non-performing loans (NPLs), which reflects comments received during public consultation.

EC Proposes A Package of Measures to Tackle NPLs in Europe

EC proposed a comprehensive package of measures to tackle nonperforming loans (NPLs) in Europe.

ESRB Secretariat Responds to EC Consultation on Supervisory Reporting

The ESRB Secretariat issued a response to the EC consultation on fitness check on supervisory reporting.

SEC Proposes to Amend Liquidity Risk Management Disclosures for Funds

SEC proposed amendments to the forms designed to improve the reporting and disclosure of liquidity information by registered open-end investment companies.

Vítor Constâncio of ECB on Tackling Financial Stability Risks in EU

At the ECB and Its Watchers XIX Conference in Frankfurt, the ECB Vice President Vítor Constâncio spoke about using macro-prudential policy to address financial stability risks in the euro area.

Bundesbank Publishes AnaCredit Reporting Scheme Version 1.2

Deutsche Bundesbank published Version 1.2 of the technical reporting scheme under the AnaCredit Regulation.

BCBS Issues Reports on Basel III Implementation Assessments Under RCAP

BCBS published summaries of post-assessment follow-up actions taken or planned by the member jurisdictions as of the end of 2017. These actions are intended to address deviations from the Basel standards, which were identified as part of the Regulatory Consistency Assessment Program (RCAP).

BIS Committees Issue Report Analyzing Central Bank Digital Currencies

CPMI and the Markets Committee of BIS issued a joint report that provides an initial analysis of the central bank digital currencies (CBDCs).

EC Published Proposals on Covered Bonds and Cross Border Transactions

EC presented a new package of proposals, toward the development of Capital Markets Union.

EIOPA Chair Speaks on Building a Sustainable Pensions Market in Europe

The EIOPA Chairman Gabriel Bernardino, during the keynote address at a Conference in Berlin, discussed challenges and developments toward building a sustainable pensions market in Europe.

IMF Issues Report on Assessment of Observance of ICPs for Indonesia

IMF published a report on the detailed assessment of observance (DAO) of Insurance Core Principles (ICPs) in Indonesia, as part of the Joint IMF-World Bank Financial Sector Assessment Program (FSAP) mission.

IMF Issues Reports on the 2017 Article IV Consultation with Morocco

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

IOSCO Suggests Sound Practices to Protect Senior Investors from Fraud

The IOSCO Board published report that examines the growing vulnerability of aging investors to financial fraud and other risks.

APRA Revises the Prudential Standard LPS 230 on Reinsurance Management

APRA published the final revised Prudential Standard LPS 230 on Reinsurance Management and the standard will come into effect from April 01, 2018.

EBA Revises List of ITS Validation Rules in March 2017

EBA issued a revised list of validation rules in its implementing technical standards (ITS) on supervisory reporting.

EBA Single Rulebook Q&A: Second Update for March 2018

The updates for this week include four items covering questions and answers (Q&A) related to supervisory reporting and recovery and resolution.

ECB Representatives Speak About Work Toward Building Cyber Resilience

Sabine Lautenschläger and Benoît Cœuré of ECB spoke about cyber resilience at the first meeting of the Euro Cyber Resilience Board for pan-European Financial Infrastructures in Frankfurt.

EC Issues Regulatory Technical Standards Supplementing BRRD

EC published the Commission Delegated Regulations (EU) 2018/344 and (EU) 2018/345 that supplement Bank Recovery and Resolution Directive, or BRRD (Directive 2014/59/EU).

Andreas Dombret of Bundesbank Examines Future of US-EU Relations

Dr. Andreas Dombret of Bundesbank spoke at the Institute of International Bankers, Annual Washington Conference, Washington DC on March 05, 2018.

APRA Issues RRS 710 and RPG 702 on EFS Data Quality Framework

APRA published the revised “Reporting Practice Guide RPG 702.0 ABS/RBA Data Quality for the EFS Collection” and “Reporting Standard RRS 710.0 ABS/RBA Registered Financial Corporations audit for the EFS Collection.”

EBA Consults on Guidelines for Managing Non-Performing Exposures

EBA launched a consultation on the guidelines for credit institutions on effectively managing non-performing exposures (NPEs) and forborne exposures (FBEs).

Bank of Italy Updates the Handbook on AnaCredit Reporting

Bank of Italy published Version 1.0 of the handbook on AnaCredit reporting and Version 1.5 of the document on "changes to messages and communication" on AnaCredit.

EC Action Plan for Fintech and Proposal for Crowdfunding Regulation

EC launched an Action Plan on harnessing the opportunities presented by technology-enabled innovation in financial services (fintech). EC is also putting forward new rules that will help crowdfunding platforms to grow across the single market in the EU.

EC Publishes Action Plan on Sustainable Finance

EC published the action plan on sustainable finance, which is part of the Capital Markets Union's efforts to connect finance with specific needs of the European economy.

IMF Reports on 2018 Article IV Consultation and FSSA with Belgium

IMF published staff report, selected issues report, and the Financial System Stability Assessment (FSSA) report on Belgium.

APRA Consults on First Prudential Standard for Tackling Cyber Attacks

APRA has responded to the growing threat of cyber attacks by proposing its first prudential standard on information security, known as CPS 234.

BoE Publishes Draft Banking XBRL Taxonomy Version 3.0.0

BoE published a public working draft of the BoE Banking eXtensible Business Reporting Language (XBRL) Taxonomy Version 3.0.0 and related technical artefacts.

CBB Proposes Amendments to the Capital Adequacy Module for Banks

CBB proposed amendments to the capital adequacy module (Module CA)—specifically part 3, chapters CA-8 to CA-10, for conventional banks (Volume 1) and Islamic banks (Volume 2).

EIOPA Q&A on Regulations: First Update for March 2018

EIOPA published new sets of questions and answers (Q&A) on guidelines on reporting and public disclosures, along with the implementing and delegating regulations applicable to insurers in Europe.

IMF Issues Reports on the 2018 Article IV Consultation with Malaysia

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Malaysia.

EU Council Issues Compromise Proposals on CRR2, CRDV, BRRD2, and SRMR2

European Council published the presidency compromise proposals amending multiple regulations and directives, including Capital Requirements Regulation (CRR), Capital Requirements Directives (CRD IV), Bank Recovery and Resolution Directive (BRRD), and Single Resolution Mechanism Regulation (SRMR).

BCBS Issues Basel III Monitoring Report for Data as of June 2017

BCBS published a report that presents results of the latest Basel III monitoring exercise based on data as of June 30, 2017.

EBA on CRDIV-CRR/Basel III Monitoring Exercise on EU Banking System

EBA published the thirteenth report on the Capital Requirements Directive IV-Capital Requirements Regulation (CRD IV-CRR)/Basel III monitoring exercise on the European banking system using data as of June 30, 2017.

FSB Publishes Updated Data on Correspondent Banking Relationships

FSB published updated data on correspondent banking relationships, using the data provided by SWIFT. The data is published as part of the action plan of FSB to assess and address the decline in correspondent banking relationships.

NBB on Implementing EBA Guidelines on Uniform Disclosures Under CRR

NBB released a circular on the implementation of EBA guidelines on uniform disclosures of IFRS 9 transitional arrangements, under Article 473a of Capital Requirements Regulation or CRR (EU Regulation No 575/2013).

EC Regulation and Guideline on Statistics on Holdings of Securities

EC published the Regulation (EU) 2018/318 and Guideline (EU) 2018/323 of ECB on the statistics on holdings of securities.

FDIC Adopts Final Rule on Alternatives to References to Credit Ratings

FDIC is adopting the final rule to amend its international banking regulations consistent with section 939A of the Dodd-Frank Act and its authority under section 5(c) of the Federal Deposit Insurance Act.

FSB Issues Reporting Guidelines for Securities Financing Transactions

FSB issued detailed reporting guidelines for implementing the November 2015 FSB Global Securities Financing Data Standards.

FSB Issues Report on Shadow Banking Monitoring Exercise in Americas

FSB published a report that presents results from the fourth shadow banking monitoring exercise in Americas.

FSB Publishes Responses to Consultation on Key Attributes for Insurers

FSB published ten responses to the consultation on the Methodology for Assessing the Implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) in the insurance sector.

FSB Publishes the Global Shadow Banking Monitoring Report for 2017

The report presents results of the seventh annual monitoring exercise of FSB to assess global trends and risks from shadow banking activities.

Randal Quarles of FED on Regulatory Regime for Foreign Banks in US

Randal K. Quarles, the Vice Chairman for Supervision at FED, spoke at the Institute of International Bankers Annual Washington Conference in Washington, D.C.

ESMA Updates the Document on Status of Its Various Guidelines

ESMA updated the table listing status of various guidelines.

Andreas Dombret of Bundesbank on Proportionality in Banking Regulation

Andreas Dombret of Bundesbank spoke—at the second Regional Banking Conference of the State of Hesse in Brussels—about the prospects for, and obstacles to, greater proportionality in banking regulation.

BoE Governor Speaks on the Need to Regulate Crypto Assets

The BoE Governor Mark Carney spoke at the Scottish Economics Conference about the impact of developments in money and payments technologies, how BoE is helping to manage the related potential risks, and how well crypto currencies fulfil the roles of money.

BoE Working Paper on Capital Regulation and Product Market Outcomes

BoE published a working paper that examines the impact of the introduction of a risk-based capital regulation regime in 2002 on product market outcomes for the insurance industry in the United Kingdom.

EBA Single Rulebook Q&A: First Update for March 2018

The Single Rulebook Q&A updates for this week include 15 items.

ECB Consults on Guides for Capital and Liquidity Management of Banks

ECB launched a public consultation on the draft principles underlying its expectations for internal capital adequacy assessment processes (ICAAPs) and internal liquidity adequacy assessment processes (ILAAPs) of banks.

EC Issues Regulation on MREL Requirements Under BRRD

EC published the Commission Implementing Regulation (EU) 2018/308 on formats, templates, and definitions for identification and transmission of information by resolution authorities for informing EBA about the minimum requirement for own funds and eligible liabilities (MREL).

HKMA Revises Returns on Capital Adequacy and Leverage Ratios

HKMA published a circular on the revised Return on Capital Adequacy Ratio (Form MA(BS)3) (CAR Return) and the new Return of Leverage Ratio (Form MA(BS)27) (LR Return), along with the Completion Instructions.

IAIS Publishes Responses to Comments on Revisions to ICPs and ComFrame

IAIS published responses to the comments received on consultations between March 03 and June 01, 2017.

FCA Publishes CP18/6 on Proposed Amendments to the FCA Handbook

FCA published the quarterly consultation paper CP18/6 on miscellaneous amendments proposed to the FCA Handbook.

Danièle Nouy of ECB on Addressing the NPL Issue in European Banks

Danièle Nouy of ECB spoke at the Delphi Economic Forum on the opportunities and challenges for European banks.

EBA Launches New DPM Data Dictionary Tools

EBA launched a new web page that includes the tools to access its data point model (DPM).

ESMA Updates Validation Rules Under Article 9 of EMIR

ESMA updated the validation rules for reports submitted under the revised technical standards on reporting under Article 9 of European Markets Infrastructure Regulation (EMIR).

FED Announces Conclusion of Efforts of Payments Security Task Force

FED announced that the Secure Payments Task Force will conclude its efforts in March with a final publication consisting of a collection of educational materials outlining the lifecycles and security profiles of the primary payment methods.

CIRC Issues Rules on Management of Assets and Liabilities for Insurers

CIRC released as set of regulatory rules on the management of insurance assets and liabilities, to prevent the mismatch risk of assets and liabilities in the insurance industry and enhance the asset and liability management ability of the insurance companies. The regulatory rules are subject to a trial period.

FSB Completes Peer Review of Hong Kong

The Hong Kong peer review examined two topics relevant for financial stability: over-the-counter (OTC) derivative market reforms and the framework for resolution of financial institutions.

IAIS Holds Session on Consultation on Use of Technology in Insurance

IAIS is holding a public background session on consultation on the draft application paper on the use of digital technology in inclusive insurance on March 02, 2018.

Ignazio Angeloni of ECB on Proportionality in Banking Supervision

Ignazio Angeloni, Member of the ECB Supervisory Board, suggested taking another look at proportionality in banking supervision, at the Thirteenth Asia-Pacific High Level Meeting on Banking Supervision in Singapore.

DNB Issues Banking Newsletter for February 2018

DNB issued the banking newsletter for February 2018.

DNB Issues Insurance Newsletter for February 2018

DNB issued insurance newsletter for February 2018.

EIOPA Submits Second and Final Advice for Review of SCR Calculation

EIOPA submitted its second and final set of Advice to EC on the standard formula for the Solvency Capital Requirement (SCR) under Solvency II.

IAIS Publishes Newsletter for February 2018

IAIS published the February issue of its newsletter.

BCBS Consults on Updated Framework for Pillar 3 Disclosures

BCBS is consulting on the updated framework for Pillar 3 disclosure requirements.

HKMA Issues Instructions for Forms MA(BS)1F(a) and MA(BS)1F(b))

HKMA issued the revised completion instructions for Form MA(BS)1F(a) and Form MA(BS)1F(b)) for Certificate of Compliance with the Banking Ordinance.

ESRB Issues Opinion on Enhancing Framework for Structural Buffers

ESRB published its final report on the use of structural macro-prudential instruments in the EU.

FSB Issues Public Responses to Proposals on Resolution Planning

FSB issued public responses to the consultations 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).

OSFI Issues Sound Practices for Derivative Activities of Pension Plans

OSFI published guideline outlining the factors that it expects administrators of federally regulated private pension plans to consider when developing policies and procedures for the sound risk management of derivative activities.

Representatives of EC, ECB, and ESMA Speak About Fintech Developments

Valdis Dombrovskis of EC, Yves Mersch of ECB, and Steven Maijoor of ESMA spoke at the Second Annual Conference on “Fintech and Digital Innovation: Regulation at the European level and beyond” in Brussels.

BNM Issues Policy Document for Digital Currencies

BNM issued the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Policy for digital currencies (Sector 6).

GAO Report Reviews Policies and Analyses in Regulatory Flexibility Act

The U.S. GAO published a report reviewing policies and analyses under the Regulatory Flexibility Act. The report concludes that policies and analyses under the Regulatory Flexibility Act and Retrospective Reviews could be improved.

IAIS Issues Global Insurance Market Report for 2017

The report discusses the global (re)insurance sector from a supervisory perspective, focusing on the sector performance and key risks.

PRA Issues Response to Inquiry of Treasury Committee into Solvency II

PRA published a report on its response to the inquiry of the Treasury Committee into Solvency II.

FSB Completes Peer Review of Singapore

The peer review examined the macro-prudential policy framework and the resolution framework for financial institutions—two topics that are relevant for financial stability in Singapore.

Andreas Dombret of Bundesbank Speaks About the Future of Europe

Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, spoke at the European School for Management and Technology about the future of Europe and of the euro area in particular.

Valdis Dombrovskis of EC Speaks at a Roundtable on Cryptocurrencies

The EC Vice President Valdis Dombrovskis spoke about cryptocurrencies and the related money laundering risks during a roundtable discussion in Brussels.

BoE Publishes Paper Suggesting Policies for Financial Stability

BoE published a working paper that focuses on rethinking policies for financial stability.

EBA Opinion on Measures to Address Macro-Prudential Risk in Belgium

EBA published an Opinion after the NBB notified EBA about its intention to modify capital requirements to address an increase in macro-prudential risk.

RBNZ on Responses to Proposed Changes to Disclosure Rules for Banks

RBNZ published a summary of the submissions received on the November 2017 consultation on changes to the disclosure requirements for registered banks.

HKMA Issues Revised Guidelines on AML/CFT for Banks and SVF Licensees

HKMA issued circulars on amendments to the guidelines on anti-money laundering and counter-terrorist financing (aml/cft) for authorized institutions and for stored value facility (SVF) licensees.

IASB Issued Work Plan and Meeting Updates for February 2018

IASB published its updated work plan, along with the updates for the meeting in February 2018. The IASB update highlights preliminary decisions of the Board.

OCC Publishes Final Rule Revising the Stress Testing Regulation

OCC published the final rule revising its stress testing regulation, following a consultation. The effective date for the final rule is March 26, 2018.

PRA Publishes Policy Statement PS2/18 on Pillar 2 Liquidity

PRA published the policy statement PS2/18 that provides feedback to CP21/16 and CP13/17 on Pillar 2 liquidity.

US Agencies Submit Reporting Form FFIEC 016 to OMB for Review

The US Agencies (FDIC, FED, and OCC) are submitting the form FFIEC 016, as originally proposed, to OMB for review.

BCL Updates Technical Specifications on AnaCredit Reporting

BCL updated the document on "facets" related to AnaCredit reporting. This document has been provided as an annex to the technical specifications document for the collection of the AnaCredit reporting.

APRA Publishes List of Direct to APRA Validation Rules for Banks

APRA updated the list of Direct to APRA (D2A) validation rules for authorized deposit-taking institutions.

BCB Consults on Provision for Expected Losses Related to Credit Risk

BCB, the central Bank of Brazil, published a public consultation (60/2018) on norms that promote the convergence to the international best practices in the accounting regulation that is applicable to the National Financial System, in particular with the IFRS 9.

IOSCO Proposes Guidance on Conflicts of Interest in Capital Raising

IOSCO is consulting on a proposal on conflicts of interest and associated conduct risks during the equity capital raising process.

MAS Consults on Rules for Mandatory Trading of Derivatives Contracts

MAS proposed regulations to require the trading of over-the-counter (OTC) derivatives on organized markets, to help improve market transparency.

US Treasury Report Recommends Reforms to Orderly Liquidation Authority

The report responds to the Presidential Memorandum directing Treasury to propose recommendations to align OLA with the Core Principles for Financial Regulation and determine whether the Bankruptcy Code should be reformed to better enable resolution of financial companies.

BaFin Circular and Financial Conglomerate Solvency Disclosure Form

BaFin published the final circular and reporting form for demonstrating the capital adequacy of a financial conglomerate.

Bundesbank Updates Handbook on AnaCredit Validation Rules

Bundesbank published Version 3.0 of the handbook on AnaCredit Validation Rules.

FCA Seeks Views on Technology to Achieve Better Regulatory Reporting

FCA announced that it is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide.

IMF Issues Reports on the 2017 Article IV Consultation with Australia

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

Opening Remarks of FSB Secretary General on Effects of G20 Reforms

At an FSB workshop in London, Dietrich Domanski, the FSB Secretary General, outlined the planned sessions on evaluating the effects of the financial regulatory reforms on financing for infrastructure investment.

BCBS Paper on Implications of Fintech for Banks and Bank Supervisors