Featured Product

    BIS Hub Announces TechSprint on CBDCs, Publishes Multiple Reports

    April 25, 2022

    This month, the Bank for International Settlements (BIS) published papers on supervisory practices for assessing sustainability of bank business models, business continuity planning at central banks, and certain aspects of central bank digital currencies (CBDC). The BIS Innovation Hub and Bank Indonesia also announced a G20 TechSprint with a view to developing new solutions for CBDCs.

    The key highlights of the aforementioned publications follow:

    • The Financial Stability Institute (FSI) of BIS published a paper that examines the supervisory practices for assessing the sustainability of the business models of banks. Through this, the paper aims to identify practices that might be relevant to authorities seeking to explicitly introduce business model analysis in their supervisory review process. To this end, the paper emphasizes practical aspects of business model analysis, including processes and procedures for developing and conducting a such an analysis and for integrating the outcomes into the overall supervisory review process. It also notes that granular and good-quality data, adequate data aggregation capabilities, and expert judgment are indispensable elements of an effective business model analysis framework. The paper concludes that business model analysis has the potential to enhance bank supervision and make it more effective, proactive, and forward-looking.
    • The report on business continuity planning focuses on how business continuity planning at BIS member central banks in the Americas has changed since the beginning of the COVID-19 pandemic. This report is published by the Consultative Group on Risk Management established at the BIS Representative Office for the Americas. The report notes that, following the eruption of the pandemic, organizations have identified, or are in the process of identifying, key actions that will allow them to strengthen their operational continuity strategies and incorporate mechanisms to develop their operational resilience holistically.
    • With respect to the CBDCs, FSI published a paper that examines CBDC as a tool to promote financial inclusion while BIS published a set of working papers that examine the work being being done by the emerging market economy central banks with respect to the CBDCs. Finally, the BIS Innovation Hub and Bank Indonesia launched the third G20 TechSprint Initiative as one of the side events of Indonesia's G20 Presidency, focusing on developing new solutions for CBDCs. The three problem statements for the TechSprint involve enabling financial inclusion, improving interoperability of payment systems, and building effective and robust means to issue, distribute, and transfer CBDCs. The shortlisted teams will showcase their prototypes in July 2022 and and independent panel will announce winners in October 2022.

     

    Related Links

     

    Keywords: International, Banking, Business Continuity, CBDC, Financial Inclusion, Financial Stability, TechSprint, G20, Business Models, Banking Supervision, Regtech, Suptech, Operational Resilience, Operational Risk, Basel, PMI, FSI, BIS

    Featured Experts
    Related Articles
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    News

    FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates

    The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.

    December 20, 2022 WebPage Regulatory News
    News

    FSB Reports Assess NBFI Sector and Progress on LIBOR Transition

    The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.

    December 20, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8697