Featured Product

    RBNZ Announces the 2020 Workstreams of Council of Financial Regulators

    November 29, 2019

    RBNZ announced the new vision and work program of the Council of Financial Regulators (CoFR) in New Zealand. RBNZ statement also outlined the work priorities of CoFR for the coming year. The seven workstreams for the year will tackle issues related to climate change, financial inclusion, conduct and governance, fintech, residential property insurance, sustainability of the credit union sector, and review of the regulatory system charter.

    Each of these workstreams will be led by one of the agencies comprised by CoFR, but involving all the members (alongside other government agencies, as necessary) in a coordinated effort to tackle issues that reach across the financial system. CoFR comprises RBNZ, the Financial Markets Authority (FMA), the Treasury, the Ministry of Business, Innovation and Employment (MBIE), and the Commerce Commission. RBNZ will lead the workstream on climate change. To address climate change, RBNZ aims to facilitate a smooth transition to a low-carbon and climate-resilient economy, while supporting the soundness and efficiency of the financial system. Under the conduct and governance, which will be led by FMA, the aim is to develop coordination and joint action on governance and conduct issues and to ensure that banks and insurers maintain progress in these areas. In terms of fintech, led again by FMA, the aim is to ensure the regulatory system facilitates innovation that improves outcomes for customers and financial system participants.

     

    Related Links

    Keywords: Asia Pacific, New Zealand, Banking, Insurance, Work Priorities, Credit Unions, Fintech, Climate Change Risk, Governance, Operational Risk, RBNZ

    Related Articles
    News

    EC Issues Regulation on Adjustments to K-Factor Coefficients Under IFR

    The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).

    January 20, 2022 WebPage Regulatory News
    News

    OSFI Issues Results of Pilot on Climate Risk Scenario Analysis

    The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.

    January 20, 2022 WebPage Regulatory News
    News

    ECB Issues Opinions on Green Bonds Standard and CRR Proposals

    The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.

    January 19, 2022 WebPage Regulatory News
    News

    ESRB Explores Policy Response to Risks Arising from Digitalization

    The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.

    January 18, 2022 WebPage Regulatory News
    News

    EU Authorities Address COVID-19 Reporting, MCD, and PSD2 Issues

    The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.

    January 17, 2022 WebPage Regulatory News
    News

    FI Publishes Multiple Regulatory and Reporting Updates

    The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.

    January 17, 2022 WebPage Regulatory News
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7875