HKMA Updates Guide on Enhanced Competency Framework for AML/CFT

By Regulatory News

March 22, 2018

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. The HKMA circular announced that the professional level of the enhanced competency framework on AML/CFT will launch on April 03, 2018. The enhanced competency framework on AML/CFT sets out the competency standards for AML/CFT practitioners in the Hong Kong banking industry.

As the Supervisory Policy Manual module CG-6 on “Competence and Ethnical Behavior” emphasizes the importance of ensuring continuing competence of staff members, authorized institutions are encouraged to adopt the enhanced competency framework on AML/CFT as a benchmark for enhancing the level of professional competence of banking practitioners responsible for AML/CFT compliance roles. Apart from supporting the staff to attend training and examination that meet the enhanced competency framework benchmark, authorized institutions are also advised to keep records of the relevant training and qualification of their staff and to provide them with necessary assistance in relation to applications for grandfathering, exemption and certification, and fulfillment of ongoing continuing professional development training under the framework.

In its supervisory process, HKMA will take into account the progress of implementation of the enhanced competency framework on AML/CFT by authorized institutions and their effort in enhancing staff competence and ongoing development. The Hong Kong Institute of Bankers (HKIB) is the administrator of the competency framework on AML/CFT, whose major roles in this respect include administering the competency program and examinations, handling certification, exemption and grandfathering applications, and maintaining a public register of qualified certification holders.

Keywords: Asia Pacific, Hong Kong, Banking, AML/CFT, Enhanced Competency Framework, Guide, HKMA

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News 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. May 17, 2018 WebPage Regulatory News
News 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. May 17, 2018 WebPage Regulatory News
News 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. May 16, 2018 WebPage Regulatory News
News FINMA Amends Financial Market Infrastructure Ordinance FINMA introduced a clearing obligation for standardized interest-rate and credit derivatives traded over the counter (OTC). May 16, 2018 WebPage Regulatory News
News 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. May 16, 2018 WebPage Regulatory News
News 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. May 15, 2018 WebPage Regulatory News
News 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. May 15, 2018 WebPage Regulatory News
News 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. May 15, 2018 WebPage Regulatory News
News 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. May 15, 2018 WebPage Regulatory News
News 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. May 15, 2018 WebPage Regulatory News
News 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. May 14, 2018 WebPage Regulatory News
News 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. May 14, 2018 WebPage Regulatory News
News BCBS Issues Framework for STC Short-Term Securitizations BCBS issued the standard for capital treatment of simple, transparent, and comparable (STC) short-term securitizations. May 14, 2018 WebPage Regulatory News
News EIOPA Launches the EU-Wide Insurance Stress Test for 2018 EIOPA launched the fourth stress test exercise for the insurance sector in Europe. May 14, 2018 WebPage Regulatory News
News 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. May 14, 2018 WebPage Regulatory News
News 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. May 14, 2018 WebPage Regulatory News
News 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. May 14, 2018 WebPage Regulatory News
News 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. May 11, 2018 WebPage Regulatory News
News 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. May 11, 2018 WebPage Regulatory News
News 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. May 11, 2018 WebPage Regulatory News
News 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. May 09, 2018 WebPage Regulatory News
News 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. May 09, 2018 WebPage Regulatory News
News HKMA Guidelines on Credit Risk Management of Personal Lending Business HKMA issued guidelines to banks on credit risk management for personal lending business. May 09, 2018 WebPage Regulatory News
News 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. May 08, 2018 WebPage Regulatory News
News 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. May 08, 2018 WebPage Regulatory News
News 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. May 08, 2018 WebPage Regulatory News
News 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. May 08, 2018 WebPage Regulatory News
News 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. May 07, 2018 WebPage Regulatory News
News 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. May 07, 2018 WebPage Regulatory News
News 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. May 07, 2018 WebPage Regulatory News
News 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. May 07, 2018 WebPage Regulatory News
News 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. May 07, 2018 WebPage Regulatory News
News BoM Updates Template Related to Standardized Approach to Credit Risk BoM updated the return CAR0100 titled "Statement of Capital Adequacy Calculation." May 07, 2018 WebPage Regulatory News
News 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). May 05, 2018 WebPage Regulatory News
News 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. May 04, 2018 WebPage Regulatory News
News EBA Publishes Results of the 2016 CVA Risk Monitoring Exercise EBA published a report on its 2016 credit valuation adjustment (CVA) risk monitoring exercise. May 04, 2018 WebPage Regulatory News
News 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). May 04, 2018 WebPage Regulatory News
News 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. May 04, 2018 WebPage Regulatory News
News 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. May 04, 2018 WebPage Regulatory News
News 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." May 04, 2018 WebPage Regulatory News
News Bundesbank Updates XML Schema for Securities Investments Statistics Deutsche Bundesbank published the XML format description for securities investments statistics. May 04, 2018 WebPage Regulatory News
News 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. May 04, 2018 WebPage Regulatory News
News 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. May 04, 2018 WebPage Regulatory News
News 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. May 04, 2018 WebPage Regulatory News
News 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. May 03, 2018 WebPage Regulatory News
News 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. May 03, 2018 WebPage Regulatory News
News 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. May 03, 2018 WebPage Regulatory News
News 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. May 03, 2018 WebPage Regulatory News
News 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). May 03, 2018 WebPage Regulatory News
News ECB Publishes Framework for Testing Resilience to Cyber Attacks ECB published the European framework for Threat Intelligence-Based Ethical Red Teaming (TIBER-EU). May 02, 2018 WebPage Regulatory News
News 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). May 02, 2018 WebPage Regulatory News
News 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). May 02, 2018 WebPage Regulatory News
News 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. May 02, 2018 WebPage Regulatory News
News 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. May 02, 2018 WebPage Regulatory News
News 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. May 02, 2018 WebPage Regulatory News
News 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. May 02, 2018 WebPage Regulatory News
News 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. May 01, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News PRA Issues Final Policy on Updates to Pillar 2 Reporting Requirements PRA published the final policy statement PS8/18 on Pillar 2 reporting requirements. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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. April 30, 2018 WebPage Regulatory News
News 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). April 27, 2018 WebPage Regulatory News
News 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. April 27, 2018 WebPage Regulatory News
News EBA Proposes Guidelines on Disclosure of Non-Performing Exposures EBA proposed guidelines on disclosure of information on non-performing exposures (NPEs) and forborne exposures. April 27, 2018 WebPage Regulatory News
News 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. April 27, 2018 WebPage Regulatory News
News 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. April 27, 2018 WebPage Regulatory News
News 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. April 27, 2018 WebPage Regulatory News
News 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. April 27, 2018 WebPage Regulatory News
News 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. April 27, 2018 WebPage Regulatory News
News FSB Issues Second Consultation on UPI Governance Arrangements FSB published a second consultation on the proposed governance arrangements for the unique product identifier (UPI). April 26, 2018 WebPage Regulatory News
News 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. April 26, 2018 WebPage Regulatory News
News 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). April 26, 2018 WebPage Regulatory News
News 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. April 26, 2018 WebPage Regulatory News
News 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). April 26, 2018 WebPage Regulatory News
News 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. April 26, 2018 WebPage Regulatory News
News 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. April 26, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News EC Outlines Approach to Set Guidelines for Artificial Intelligence EC outlined an approach to artificial intelligence (AI) and robotics. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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). April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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. April 25, 2018 WebPage Regulatory News
News 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). April 25, 2018 WebPage Regulatory News
News BDF Issues Framework for Financial Entities for AnaCredit Reporting BDF published the framework of financial institutions and public administrators for AnaCredit reporting. April 24, 2018 WebPage Regulatory News
News 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. April 24, 2018 WebPage Regulatory News
News 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. April 24, 2018 WebPage Regulatory News
News 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. April 24, 2018 WebPage Regulatory News
News 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. April 24, 2018 WebPage Regulatory News
News 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). April 24, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News BCBS Issues Fourteenth Progress Report on Adoption of Basel III BCBS published the fourteenth progress report on adoption of the Basel III regulatory framework. April 23, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News 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. April 23, 2018 WebPage Regulatory News
News 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. April 20, 2018 WebPage Regulatory News
News 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). April 20, 2018 WebPage Regulatory News
News 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. April 20, 2018 WebPage Regulatory News
News 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). April 20, 2018 WebPage Regulatory News
News 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. April 20, 2018 WebPage Regulatory News
News 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. April 20, 2018 WebPage Regulatory News
News European Parliament Adopts EC Proposal on the Fifth AML Directive European Parliament adopted the EC proposal on the fifth Anti-Money Laundering (AML) Directive. April 19, 2018 WebPage Regulatory News
News 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. April 19, 2018 WebPage Regulatory News
News 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. April 19, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News ESMA Updates Bond Transparency Calculations for MiFID II and MiFIR ESMA updated the MiFID II and MiFIR transitional transparency calculations (TTC) for bonds. April 18, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News 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. April 18, 2018 WebPage Regulatory News
News 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). April 17, 2018 WebPage Regulatory News
News 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. April 17, 2018 WebPage Regulatory News
News 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). April 17, 2018 WebPage Regulatory News
News 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. April 17, 2018 WebPage Regulatory News
News 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. April 16, 2018 WebPage Regulatory News
News 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. April 13, 2018 WebPage Regulatory News
News 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. April 13, 2018 WebPage Regulatory News
News 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. April 13, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 12, 2018 WebPage Regulatory News
News 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. April 11, 2018 WebPage Regulatory News
News 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. April 11, 2018 WebPage Regulatory News
News 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. April 11, 2018 WebPage Regulatory News
News 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. April 11, 2018 WebPage Regulatory News
News 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. April 11, 2018 WebPage Regulatory News
News 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. April 11, 2018 WebPage Regulatory News
News 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). April 11, 2018 WebPage Regulatory News
News CPMI-IOSCO Publish Framework for Supervisory Stress Testing of CCPs CPMI and IOSCO published the framework for supervisory stress testing of central counterparties (CCPs). April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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). April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 10, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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). April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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). April 09, 2018 WebPage Regulatory News
News 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). April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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. April 09, 2018 WebPage Regulatory News
News 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. April 06, 2018 WebPage Regulatory News
News FCA on Authorization for Firms Offering Cryptocurrency Derivatives FCA issued a statement on the authorization requirement for firms offering cryptocurrency derivatives. April 06, 2018 WebPage Regulatory News
News 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. April 06, 2018 WebPage Regulatory News
News 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. April 05, 2018 WebPage Regulatory News
News 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. April 05, 2018 WebPage Regulatory News
News 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. April 05, 2018 WebPage Regulatory News
News 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. April 05, 2018 WebPage Regulatory News
News 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. April 04, 2018 WebPage Regulatory News
News ECB Issues Opinion on Draft of a Securitization Framework in Cyprus ECB issued an opinion on the draft law on securitization framework in Cyprus. April 04, 2018 WebPage Regulatory News
News 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. April 04, 2018 WebPage Regulatory News
News 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. April 03, 2018 WebPage Regulatory News
News ESMA Publishes Technical Advice Under the Prospectus Regulation ESMA is publishing the first Part of its technical advice under the Prospectus Regulation. April 03, 2018 WebPage Regulatory News
News 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. April 03, 2018 WebPage Regulatory News
News 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. April 03, 2018 WebPage Regulatory News
News Dubai FSA Updates Rulebook and Sourcebook for Financial Institutions Dubai FSA updated several modules of its Rulebook and Sourcebook for financial institutions. April 03, 2018 WebPage Regulatory News
News 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. April 02, 2018 WebPage Regulatory News
News 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. April 02, 2018 WebPage Regulatory News
News 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. April 02, 2018 WebPage Regulatory News
News 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.” April 02, 2018 WebPage Regulatory News
News 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. April 02, 2018 WebPage Regulatory News
News 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. April 02, 2018 WebPage Regulatory News
News 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). March 30, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News Bundesbank Updates Credit Statistics Policy for AnaCredit Reporting Deutsche Bundesbank published Version 2.0 of the Credit Statistics Policy for AnaCredit reporting. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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. March 29, 2018 WebPage Regulatory News
News 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). March 28, 2018 WebPage Regulatory News
News 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). March 28, 2018 WebPage Regulatory News
News DNB Publishes Banking and Insurance Newsletters for March 2018 DNB issued the banking and insurance newsletters for March 2018. March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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). March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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). March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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. March 28, 2018 WebPage Regulatory News
News 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). March 27, 2018 WebPage Regulatory News
News 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. March 27, 2018 WebPage Regulatory News
News 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. March 27, 2018 WebPage Regulatory News
News 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. March 27, 2018 WebPage Regulatory News
News ESMA Consults on Supplementary Guidance Under the Endorsement Regime ESMA proposed supplementary guidance on the application of the endorsement regime. March 27, 2018 WebPage Regulatory News
News 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). March 27, 2018 WebPage Regulatory News
News 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. March 27, 2018 WebPage Regulatory News
News 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. March 27, 2018 WebPage Regulatory News
News 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. March 26, 2018 WebPage Regulatory News
News 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). March 26, 2018 WebPage Regulatory News
News 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. March 26, 2018 WebPage Regulatory News
News 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. March 26, 2018 WebPage Regulatory News
News 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. March 26, 2018 WebPage Regulatory News
News 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. March 26, 2018 WebPage Regulatory News
News 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. March 26, 2018 WebPage Regulatory News
News 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. March 23, 2018 WebPage Regulatory News
News 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. March 23, 2018 WebPage Regulatory News
News 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. March 23, 2018 WebPage Regulatory News
News 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. March 23, 2018 WebPage Regulatory News
News ESMA Proposes Application Requirements for Securitization Repositories ESMA published two consultation papers on draft technical standards implementing the Securitization Regulation. March 23, 2018 WebPage Regulatory News
News 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). March 23, 2018 WebPage Regulatory News
News 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. March 23, 2018 WebPage Regulatory News
News 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. March 23, 2018 WebPage Regulatory News
News 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. March 22, 2018 WebPage Regulatory News
News BCBS Consults on Revisions to Capital Requirements for Market Risk BCBS launched a consultation on revisions to the minimum capital requirements for market risk. March 22, 2018 WebPage Regulatory News
News 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). March 22, 2018 WebPage Regulatory News
News 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. March 22, 2018 WebPage Regulatory News
News 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). March 22, 2018 WebPage Regulatory News
News 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. March 22, 2018 WebPage Regulatory News
News 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. March 22, 2018 WebPage Regulatory News
News 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. March 22, 2018 WebPage Regulatory News
News BNM Finalizes Paper on Value-Based Intermediation in Islamic Banking BNM published the finalized strategy paper and feedback statement on value-based intermediation (VBI). March 22, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News EIOPA Issues Paper on Solvency II Tools with Macro-Prudential Impact EIOPA published a paper on Solvency II tools with macro-prudential impact. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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. March 21, 2018 WebPage Regulatory News
News 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.” March 21, 2018 WebPage Regulatory News
News 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. March 20, 2018 WebPage Regulatory News
News 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. March 20, 2018 WebPage Regulatory News
News 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. March 20, 2018 WebPage Regulatory News
News 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. March 20, 2018 WebPage Regulatory News
News 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. March 20, 2018 WebPage Regulatory News
News 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. March 20, 2018 WebPage Regulatory News
News 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. March 19, 2018 WebPage Regulatory News
News 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. March 19, 2018 WebPage Regulatory News
News EBA Report Assesses the Current Credit Risk Mitigation Framework in EU EBA published a report reviewing the Credit Risk Mitigation (CRM) framework in EU. March 19, 2018 WebPage Regulatory News
News 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). March 19, 2018 WebPage Regulatory News
News 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. March 19, 2018 WebPage Regulatory News
News 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. March 18, 2018 WebPage Regulatory News
News 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. March 16, 2018 WebPage Regulatory News
News EBA Report Assesses Progress in Work of Supervisory Colleges in 2017 EBA published its report examining the functioning of supervisory colleges in 2017. March 16, 2018 WebPage Regulatory News
News 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. March 16, 2018 WebPage Regulatory News
News IFRS Foundation Publishes IFRS Taxonomy 2018 IFRS Foundation published the IFRS Taxonomy for 2018, which includes updates to the IFRS Taxonomy for 2017. March 16, 2018 WebPage Regulatory News
News 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. March 16, 2018 WebPage Regulatory News
News 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. March 15, 2018 WebPage Regulatory News
News 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. March 15, 2018 WebPage Regulatory News
News 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. March 15, 2018 WebPage Regulatory News
News 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. March 15, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News EBA Issues Opinion on Measures to Address Macro-Prudential Risk EBA issued an Opinion on the measures to address macro-prudential risk. March 14, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News 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. March 14, 2018 WebPage Regulatory News
News Bundesbank Publishes AnaCredit Reporting Scheme Version 1.2 Deutsche Bundesbank published Version 1.2 of the technical reporting scheme under the AnaCredit Regulation. March 13, 2018 WebPage Regulatory News
News 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). March 12, 2018 WebPage Regulatory News
News 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). March 12, 2018 WebPage Regulatory News
News EC Published Proposals on Covered Bonds and Cross Border Transactions EC presented a new package of proposals, toward the development of Capital Markets Union. March 12, 2018 WebPage Regulatory News
News 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. March 12, 2018 WebPage Regulatory News
News 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. March 12, 2018 WebPage Regulatory News
News 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. March 12, 2018 WebPage Regulatory News
News 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. March 12, 2018 WebPage Regulatory News
News 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. March 09, 2018 WebPage Regulatory News
News 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. March 09, 2018 WebPage Regulatory News
News 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. March 09, 2018 WebPage Regulatory News
News 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. March 09, 2018 WebPage Regulatory News
News 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). March 09, 2018 WebPage Regulatory News
News 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. March 08, 2018 WebPage Regulatory News
News 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.” March 08, 2018 WebPage Regulatory News
News 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). March 08, 2018 WebPage Regulatory News
News 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. March 08, 2018 WebPage Regulatory News
News 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. March 08, 2018 WebPage Regulatory News
News 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. March 08, 2018 WebPage Regulatory News
News 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. March 08, 2018 WebPage Regulatory News
News 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. March 07, 2018 WebPage Regulatory News
News 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. March 07, 2018 WebPage Regulatory News
News 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). March 07, 2018 WebPage Regulatory News
News 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. March 07, 2018 WebPage Regulatory News
News 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. March 07, 2018 WebPage Regulatory News
News 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). March 06, 2018 WebPage Regulatory News
News 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. March 06, 2018 WebPage Regulatory News
News 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. March 06, 2018 WebPage Regulatory News
News 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. March 06, 2018 WebPage Regulatory News
News 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). March 06, 2018 WebPage Regulatory News
News 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. March 05, 2018 WebPage Regulatory News
News 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. March 05, 2018 WebPage Regulatory News
News FSB Issues Reporting Guidelines for Securities Financing Transactions FSB issued detailed reporting guidelines for implementing the November 2015 FSB Global Securities Financing Data Standards. March 05, 2018 WebPage Regulatory News
News 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. March 05, 2018 WebPage Regulatory News
News 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. March 05, 2018 WebPage Regulatory News
News 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. March 05, 2018 WebPage Regulatory News
News 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. March 05, 2018 WebPage Regulatory News
News ESMA Updates the Document on Status of Its Various Guidelines ESMA updated the table listing status of various guidelines. March 05, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News EBA Single Rulebook Q&A: First Update for March 2018 The Single Rulebook Q&A updates for this week include 15 items. March 02, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News 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). March 02, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News 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. March 02, 2018 WebPage Regulatory News
News 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. March 01, 2018 WebPage Regulatory News
News EBA Launches New DPM Data Dictionary Tools EBA launched a new web page that includes the tools to access its data point model (DPM). March 01, 2018 WebPage Regulatory News
News 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). March 01, 2018 WebPage Regulatory News
News 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. March 01, 2018 WebPage Regulatory News
News 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. March 01, 2018 WebPage Regulatory News
News 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. February 28, 2018 WebPage Regulatory News
News 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. February 28, 2018 WebPage Regulatory News
News 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. February 28, 2018 WebPage Regulatory News
News DNB Issues Banking Newsletter for February 2018 DNB issued the banking newsletter for February 2018. February 28, 2018 WebPage Regulatory News
News DNB Issues Insurance Newsletter for February 2018 DNB issued insurance newsletter for February 2018. February 28, 2018 WebPage Regulatory News
News 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. February 28, 2018 WebPage Regulatory News
News IAIS Publishes Newsletter for February 2018 IAIS published the February issue of its newsletter. February 28, 2018 WebPage Regulatory News
News BCBS Consults on Updated Framework for Pillar 3 Disclosures BCBS is consulting on the updated framework for Pillar 3 disclosure requirements. February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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). February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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). February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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. February 27, 2018 WebPage Regulatory News
News 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. February 26, 2018 WebPage Regulatory News
News 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. February 26, 2018 WebPage Regulatory News
News 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. February 26, 2018 WebPage Regulatory News
News BoE Publishes Paper Suggesting Policies for Financial Stability BoE published a working paper that focuses on rethinking policies for financial stability. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 23, 2018 WebPage Regulatory News
News 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. February 22, 2018 WebPage Regulatory News
News 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. February 22, 2018 WebPage Regulatory News
News 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. February 21, 2018 WebPage Regulatory News
News 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. February 21, 2018 WebPage Regulatory News
News 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. February 21, 2018 WebPage Regulatory News
News 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. February 21, 2018 WebPage Regulatory News
News Bundesbank Updates Handbook on AnaCredit Validation Rules Bundesbank published Version 3.0 of the handbook on AnaCredit Validation Rules. February 21, 2018 WebPage Regulatory News
News 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. February 20, 2018 WebPage Regulatory News
News 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. February 20, 2018 WebPage Regulatory News
News 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. February 20, 2018 WebPage Regulatory News
News BCBS Paper on Implications of Fintech for Banks and Bank Supervisors BCBS published a paper on sound practices in the context of fintech developments for banks and bank supervisors. February 19, 2018 WebPage Regulatory News
News ESMA Publishes Presentation on Proposals for Securitization Regulation ESMA published the public hearing presentation of its consultation papers on draft regulatory standards under the securitization regulation. February 19, 2018 WebPage Regulatory News
News FCA Issues Letter to CEOs on Quality of Prudential Regulatory Returns FCA published a letter requesting the CEOs of IFPRU investment firms and BIPRU firms to review their regulatory reporting practices. February 19, 2018 WebPage Regulatory News
News CPMI Issues Report on Cross-Border Retail Payments CPMI published a report recommending improvements to the infrastructure for cross-border payments made by individuals and businesses. February 16, 2018 WebPage Regulatory News
News EC Publishes Paper on Development of Private Placement of Debt in EU EC published report on a study on identifying market and regulatory obstacles to the development of private placement of debt in the EU. February 16, 2018 WebPage Regulatory News
News FDIC Chairman Speaks About Progress Toward Resolving G-SIBs in US The FDIC Chairman Martin J. Gruenberg spoke about the progress toward resolving systemically important financial institutions or SIFIs, at The Wharton School, University of Pennsylvania. February 16, 2018 WebPage Regulatory News
News FINMA Publishes Guidelines on Initial Coin Offerings FINMA published guidelines for inquiries about the regulatory framework for initial coin offerings (ICOs). February 16, 2018 WebPage Regulatory News
News PRA Consults on Eligibility of Guarantee as Unfunded Credit Protection PRA published the consultation paper CP6/18, which sets out the proposed changes to the supervisory statement SS17/13 on credit risk mitigation. February 16, 2018 WebPage Regulatory News
News BCBS Issues Basel III Monitoring Updates for February 2018 BCBS released the Basel III monitoring workbook (version 3.7.0) and its accompanying instructions, along with an updated list of frequently asked questions for the collection of December 2017 data. February 15, 2018 WebPage Regulatory News
News FDIC Adopts Final Rule Amending the International Banking Regulations FDIC adopted the final rule amending the international banking regulations on the permissible investment activities and the pledging of assets. February 15, 2018 WebPage Regulatory News
News IAIS Consults on the Use of Digital Technology in Inclusive Insurance IAIS is consulting on the draft application paper on the use of digital technology in inclusive insurance. Comments on this consultative document are due by March 16, 2018. February 15, 2018 WebPage Regulatory News
News Sabine Lautenschläger of ECB Speaks on Stability of Financial System Sabine Lautenschläger of ECB spoke about stable financial system at the Dutch Banking Day in Amsterdam. February 15, 2018 WebPage Regulatory News
News APRA Proposes Revisions to Risk-based Capital Framework for Banks APRA published a consultation revising the capital framework for authorized deposit-taking institutions. APRA also published a consultation on the implementation of leverage ratio requirements for authorized deposit-taking institutions. February 14, 2018 WebPage Regulatory News
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