CMF published a report on its strategy for addressing climate change. As part of its strategy, CMF aims to promote the disclosure of risks associated with climate change, facilitate the development of a green financial market, and integrate climate risks into prudential supervision. To achieve these objectives, CMF has set up a work plan that it will execute in the short, medium, and long term.
The work plan on climate change includes the following:
- Creation of a Working Group for Climate Change (GTCC) for the development of a strategic initiative for climate change
- Participation in the Green Public-Private Finance Committee of the Ministry of Finance and in the work carried out by IOSCO, IAIS and the Network of Central Banks and Supervisors for Greening the Financial System (NGFS)
- A plan to promote the disclosure of information through regulatory amendments, as stated in the public consultation of General Rule No. 386
- Development of a plan to facilitate a green financial market, collaboration with other national authorities to develop a classification of economic activities consistent with international standards, and a study (by GTCC) on both international standards and the local market to detect potential gaps and trends
- Integration of climate risks into prudential supervision by identifying, in the short term, the international best practice framework for climate risk assessment, monitoring, and management based on the partnerships built by CMF, especially with its NGFS peers
Keywords: Americas, Chile, Banking, Climate Change Risk, ESG, Sustainable Finance, NGFS, Disclosures, Taxonomy, Stress Testing, CMF
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).