BNM is consulting on three guidance documents to facilitate the practical adoption of value-based intermediation (VBI). The guidance documents include Implementation Guide for VBI, VBI Financing and Investment Impact Assessment Framework (VBIAF), and VBI Scorecard. BNM welcomes constructive feedback on the VBIAF and VBI Scorecard documents by November 30, 2018.
The VBI aims to re-orient Islamic finance business models toward realizing the objectives of Shariah that generate positive and sustainable impact to the economy, community, and environment through practices, processes, offerings, and conduct. The Implementation Guide for VBI provides guidance on practical value-based banking practices, as reference to Islamic financial institutions that intend to embark on the VBI initiative. It also outlines the phases of implementation and deliberates on key implementation challenges alongside some pragmatic solutions. The VBIAF facilitates the implementation of an impact-based risk management system for assessing the financing and investment activities of Islamic banking institutions in line with their respective VBI commitment. The VBI Scorecard provides an overview that covers purposes, key components of assessment, and proposed measurement methodology.
Comment Due Date: November 30, 2018 (VBIAF and VBI Scorecard)
Keywords: Asia Pacific, Malaysia, Banking, Value-based Intermediation, Islamic Banking, BNM
FDIC is seeking comments on a rule to amend the interagency guidelines for real estate lending policies—also known as the Real Estate Lending Standards.
ISDA is consulting on the implementation of fallbacks for the sterling LIBOR ICE Swap Rate and for the USD LIBOR ICE Swap Rate.
BIS and BoE launched the BIS Innovation Hub Center in London, which is the fourth new Innovation Hub Centre to be opened in the past two years.
ESRB published recommendations on the reciprocation of macro-prudential measures in Belgium, France, Luxembourg, Norway, and Sweden.
SEC announced that the Office of Information and Regulatory Affairs released the Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions.
EC published the Delegated Regulation 2021/931, which supplements the Capital Requirements Regulation (CRR or Regulation 575/2013) with regard to the regulatory technical standards specifying the method for identifying derivative transactions with one or more than one material risk driver.
BCBS is consulting on preliminary proposals for the prudential treatment of cryptoasset exposures of banks.
EBA issued a revised list of validation rules under the implementing technical standards on supervisory reporting.
BIS Innovation Hub, BDF, and SNB announced that, together with a private-sector consortium led by Accenture, they will conduct an experiment using wholesale central bank digital currency (wCBDC) for cross-border settlement.
ESAs published two amended implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs).