RBNZ Issues Proposal on Mortgage Bond Obligations Standard
RBNZ launched a second consultation on the Residential Mortgage Obligations standard on November 13, 2018. The consultation was initially expected to end on February 22, 2019, although the consultation period was later extended to March 08, 2019. RBNZ also published a draft template to assist banks to provide loan-level data under the proposed mortgage bond standard.
The new mortgage bond standard aims to reduce contingency risks for RBNZ as a lender of last resort and to ensure that financial intermediaries supply sufficient high-quality and liquid assets. It also aims to provide issuers and investors with an additional funding and investment instrument, supporting the development of deeper capital markets. The consultation paper summarized the changes proposed in response to the key issues raised by industry and sets out the revised mortgage bond standard in an exposure draft for final consultation. The initial consultation took place from November 2017 to March 2018. The timeline for implementation will be updated when final decisions are made. RBNZ has proposed a five-year implementation timeline for the Residential Mortgage Obligations standard.
Related Links
Comment Due Date: March 08, 2019
Keywords: Asia Pacific, New Zealand, Banking, Securities, Residential Mortgage Obligations, Mortgage Bond Standard, RBNZ
Previous Article
Bank of Finland Updates Requirements for AnaCredit ReportingRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
