Featured Product

    BOT Publishes Regulatory Updates for Financial Sector Entities

    July 07, 2022

    The Bank of Thailand (BOT) published a directional paper on supervisory approach and management of risks to the financial system with respect to digital assets. It also published a draft regulation on the supervision of financial business groups transacting in digital assets, a statement on the implementation of financial measures amid COVID-19 pandemic, and the XML schema for reporting by banks.

    Below are the key highlights of the recent updates:

    • Striking a balance between facilitating digital asset related innovation to promote their benefits and managing the risks that may arise is the key principle underpinning the supervision of digital assets. BOT issued the directional paper to explain its rationale in issuing its policies related to financial business groups with regard to digital assets, the options considered by BOT, as well as the pros and cons of each supervisory approach under the existing limitations and context of the Thai financial sector. BOT has also issued a draft regulation on the supervision of financial business groups of commercial banks operating and transacting in digital assets. BOT requested comments on the draft regulations until July 25, 2022.
    • BOT has decided to repeal the relief measure on dividend payout policy as well as extend and provide additional measures to help debtors that are still affected due to COVID-19 pandemic. These measures include measures for resolving long-term debt, increasing liquidity under loan rehabilitation program, maintaining the reduction of minimum credit card repayment rate until the end of 2023, and improving the debt repayment program.
    • BOT published XML Schema for reporting by Thai commercial banks, foreign bank branches, specialized finance companies, and credit foncier companies. The schema will be effective from December 2022.

     

    Related Links (in English and Thai)

     

     

    Keywords: Asia Pacific, Thailand, Banking, Reporting, Digital Assets, XML Schema, Regtech, Dividend Distribution, Credit Risk, Loan Repayment, Covid 19, BOT, Basel

    Featured Experts
    Related Articles
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    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
    RESULTS 1 - 10 OF 8699