Featured Product

    NGFS Adds New Members, Sets Out Work Priorities for 2022-2024

    The Network for Greening the Financial System (NGFS) set out its work priorities for 2022-2024 and added nine members and two observers to the Network.

    The nine new members to join the network are the Central Bank of Kenya,  the Central Bank of Lebanon, the Central Bank of Egypt, the Central Bank of Mauritania, the Central Bank of Nigeria, the Cayman Islands Monetary Authority, the Federal Housing Finance Agency (U.S.), the Federal Deposit Insurance Corporation (U.S.), and the Federal Insurance Office (U.S.). Meanwhile, the Latin American Reserves Fund (FLAR) and the European Stability Mechanism joined the network as observers. Additionally, as part of its work priorities, NGFS will step up its work on:

    • supervisory practices with respect to managing climate-related risks, under the Workstream on Supervision—Chaired by Mr Jamey Hubbs from the Office of the Superintendent of Financial Institutions of Canada
    • design and analysis of climate scenarios, under the Workstream on Scenario Design and Analysis—Chaired by Ms Cornelia Holthausen from the European Central Bank
    • implications of climate change for monetary policy, under the Workstream on Monetary Policy—Chaired by Mr James Talbot from the Bank of England
    • guidance for central banks on transition to net zero, under the Workstream on Net Zero for Central Banks—Chaired by Mr Paolo Angelini from the Banca d’Italia and Ms Simone Robbers from the Reserve Bank of New Zealand
    • nature-related financial risks, under the Task force on Nature-related Risks—Chaired by Ms Sylvie Goulard from the Banque de France and Ms Saskia de Vries from the De Nederlandsche Bank
    • capacity building for its membership, under the Task force on Capacity Building and Training—Chaired by Ms Madelena Mohamed from the Bank Negara Malaysia and Mr Jeffery Yong from the Bank for International Settlements


    Related Link: Press Release


    Keywords: International, Banking, Work Program, ESG, Climate Change Risk, Scenario Analysis, Sustainable Finance, NGFS, Nature-Related Risks, Stress Testing, Net Zero Transition, Subheadline

    Featured Experts
    Related Articles

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582