BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities. The BIS board of directors decided to invite the central banks of Kuwait, Morocco, and Vietnam to become members of BIS. This is the first such expansion since 2011 and will take the number of members to 63. Also, convening in Basel, the Global Economy Meeting agreed to expand the membership of two of the central bank committees based at the BIS—the Committee on the Global Financial System and the Markets Committee.
The Committee on the Global Financial System, a central bank forum for monitoring and analyzing broad financial system issues, will invite Argentina, Russia, Saudi Arabia, South Africa, and Thailand to join. This will take the number of central bank members in this committee to 28. The Markets Committee, which monitors financial market developments, will invite Indonesia, Malaysia, Russia, South Africa, and Turkey to join, thus taking the number of its central bank members to 27. The Global Economy Meeting Chair Mark Carney said that the emerging market economies would make up about two-fifth of the membership of each committee, following this expansion.
Keywords: International, Vietnam, Kuwait, Morocco, Banking, Central Bank Membership, Committee on Global Financial System, Markets Committee, BIS
Previous ArticleEC Launches Cybersecurity Projects to Boost Collaboration in EU
APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.
Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.
The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).
EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).
Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA
ESMA published the final guidelines on outsourcing to cloud service providers.
EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.
OSFI has set out the schedule for release of draft guidance on the management of technology risks by federally regulated financial institutions and private pension plans.
MAS updated rules for new housing loans by banks and finance companies.
HKMA published a statement on the 100% Personal Loan Guarantee Scheme and a guideline on the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) as announced in the 2021-22 Budget.