Featured Product

    GHOS Endorses Strategic Priorities and Work Program of BCBS

    March 31, 2021

    The Group of Central Bank Governors and Heads of Supervision (GHOS), which is the oversight body of BCBS, has endorsed the strategic priorities and work program of the Basel Committee for 2021–22. Consistent with the previous GHOS agreement, dated November 2020, to mark a clear end to the Basel III policy agenda, the new work program places high priority on the implementation and evaluation of previously agreed reforms, on assessing emerging risks and vulnerabilities, and increasing supervisory cooperation. The detailed work program will be published in April 2021.

    BCBS will also keep monitoring the resilience of the global banking system as the COVID-19 pandemic continues to unfold, ensuring that banks contribute to the subsequent recovery sustainably. During the recent meeting, GHOS members also took the opportunity to exchange views on various ongoing global initiatives on non-bank financial intermediation (NBFI). NBFI now accounts for almost half of the global financial system and plays an increasing role in providing financing to the real economy. Banks and non-bank financial entities are interconnected through multiple channels. The safety and soundness of the NBFI sector is, therefore, important to the safety and soundness of the banking sector. GHOS members agreed that NBFI initiatives should take a holistic approach, as followed by FSB, considering the need to improve the resilience of NBFI, to minimize systemic risk and to meet other market-related objectives. Such initiatives should also safeguard the resilience and agreed prudential standards of the global banking system, which have been a critical support in the management of the COVID-19 crisis. Meanwhile, bank supervisors should continue to monitor NBFI developments to better gauge the range of direct and indirect interconnections with the banking system.

     

    Related Links

    Keywords: International, Banking, Basel, COVID-19, Work Program, Strategic Priorities, NBFI, GHOS, BCBS

    Featured Experts
    Related Articles
    News

    PRA and FPC Finalize Changes to Leverage Ratio Framework in UK

    The Prudential Regulation Authority (PRA) published the final policy statement PS21/21 on the leverage ratio framework in the UK. PS21/21, which sets out the final policy of both the Financial Policy Committee (FPC) and PRA

    October 08, 2021 WebPage Regulatory News
    News

    CFPB Proposes Rule on Small Business Lending Data Collection

    The Consumer Financial Protection Bureau (CFPB) proposed to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) under Section 1071 of the Dodd-Frank Act.

    October 08, 2021 WebPage Regulatory News
    News

    PRA Decides to Maintain O-SII Buffers for Another Year

    The Prudential Regulation Authority (PRA) decided to maintain, at the 2019 levels, the buffer rates for the Other Systemically Important Institutions (O-SII) for another year, with no new rates to be set until December 2023.

    October 08, 2021 WebPage Regulatory News
    News

    FSB Report Assesses Implementation of Recommendations on Stablecoins

    The Financial Stability Board (FSB) published a progress report on implementation of its high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements.

    October 07, 2021 WebPage Regulatory News
    News

    APRA Updates Loan Serviceability Expectations for Home Lending

    In a letter to the authorized deposit taking institutions, the Australian Prudential Regulation Authority (APRA) announced an increase in the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications.

    October 06, 2021 WebPage Regulatory News
    News

    CPMI and IOSCO Consult on Guidance on Stablecoin Arrangements

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are consulting on the preliminary guidance that clarifies that stablecoin arrangements should observe international standards for payment, clearing, and settlement systems.

    October 06, 2021 WebPage Regulatory News
    News

    EBA and EIOPA Set Out Work Priorities for 2022

    The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have set out their respective work priorities for 2022.

    October 05, 2021 WebPage Regulatory News
    News

    MFSA Issues Reporting Updates and Guidance for Banks

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework.

    October 05, 2021 WebPage Regulatory News
    News

    EC Publishes Decision on List of Equivalent Third Countries Under CRR

    The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013).

    October 04, 2021 WebPage Regulatory News
    News

    EC Rule on Contractual Recognition of Write-Down and Conversion Powers

    EC published the Implementing Regulation 2021/1751, which lays down implementing technical standards on uniform formats and templates for notification of determination of the impracticability of including contractual recognition of write-down and conversion powers.

    October 04, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7552