June 06, 2018

The FSB RCG for Americas discussed sovereign risk, regtech, crypto-assets, and work to reduce misconduct risk at its recent meeting in Asuncion, Paraguay. Members of the RCG Americas were updated on FSB's current and planned activities, which range from policy development to implementation and evaluation of reforms.

The following are the key highlights of the discussions:

  • Regulatory treatment of sovereign exposures. The discussion involved exchanging views on the ideas in the BCBS discussion paper on the regulatory treatment of sovereign exposures. They discussed the role that sovereign exposures play in the banking system, financial markets, and the broader economy, along with the risks that they may pose.
  • Role of fintech and regtech in AML. Members discussed how fintech and regtech can play a role in improving the effective implementation of measures related to anti-money laundering and countering the financing of terrorism (AML/CFT). Money laundering and terrorist financing risks are a concern in certain areas of the FSB’s work, including its action plan to address the decline in correspondent banking relationships and its analysis of the potential financial stability implications of crypto-assets.
  • Financial stability implications of crypto-assets. Members exchanged views on regulatory aspects involved with crypto-assets and the role of central banks and financial regulators, given the rapid growth of crypto-asset markets and the growing involvement of retail investors.
  • Reduction of misconduct risk. The meeting concluded with a discussion on how to address misconduct in the financial sector. Members discussed the role of governance frameworks, including culture, in a firm and of individual accountability in mitigating misconduct risk. The session drew on the recently published paper of FSB on a toolkit for firms and supervisors for strengthening governance frameworks to mitigate misconduct risk.

 

Related Link: Press Release

Keywords: International, Banking, Securities, Sovereign Risk, Regtech, Misconduct Risk, Crypto Assets, FSB

Related Articles
News

EC Amends Regulation Supplementing Solvency II Directive

EC published the Delegated Regulation (EU) 2019/981 that amends the Regulation (EU) 2015/35, which supplements Solvency II Directive (2009/138/EC) on the taking-up and pursuit of the business of insurance and reinsurance.

June 18, 2019 WebPage Regulatory News
News

IOSCO Report Examines Application of International Cyber Standards

IOSCO published a final report that examines the application of the three internationally recognized cyber standards and frameworks by IOSCO member jurisdictions.

June 18, 2019 WebPage Regulatory News
News

PRA Launches 2019 Stress Test Exercise for Life and General Insurers

PRA has launched the biennial insurance stress test and is asking the largest regulated life and general insurers to provide information about the impact of a range of stress tests on their business.

June 18, 2019 WebPage Regulatory News
News

PRA Finalizes Reporting Amendments to Pillar 2 Liquidity Framework

PRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.

June 17, 2019 WebPage Regulatory News
News

FSB Assesses Implementation of Compensation Standards and Principles

FSB published the sixth progress report on the implementation of its principles and standards for sound compensation practices in financial institutions.

June 17, 2019 WebPage Regulatory News
News

IMF Publishes Reports on 2019 Article IV Consultation with Ireland

IMF published its staff report and selected issues report under the 2019 Article IV consultation with Ireland.

June 17, 2019 WebPage Regulatory News
News

EBA Updates Data on Deposit Guarantee Schemes in EU

EBA published the 2018 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD)—namely, available financial means and covered deposits.

June 17, 2019 WebPage Regulatory News
News

SNB Updates Form for Reporting Solvency Risk of Counterparties

SNB published the survey (Form Release 5.01) and related documentation for reporting solvency risk of counterparties in the interbank sector (ARIS).

June 17, 2019 WebPage Regulatory News
News

ISDA Studies Variation in Global Implementation of Margin Requirements

ISDA published a paper that highlights the main areas of difference in the implementation of margin requirements for non-cleared derivatives across jurisdictions and makes recommendations on how to resolve these variations.

June 17, 2019 WebPage Regulatory News
News

US Agencies Finalize Rule to Streamline Reporting for Small Banks

US Agencies (FDIC, FED, and OCC) adopted a final rule to streamline the regulatory reporting requirements for small institutions.

June 17, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3267