Featured Product

    BIS Announces Launch of Climate Training Alliance for Supervisors

    July 09, 2021

    The Bank for International Settlements (BIS) and certain international entities published a report that examines the efforts on taking forward the work on central bank digital currencies. BIS, in conjunction with certain international organizations, also launched the Climate Training Alliance to establish an online portal for global training on climate risks for central banks and supervisors; the international organizations that jointly launched this Alliance are the International Association of Insurance Supervisors (IAIS), the Central Banks and Supervisors Network for Greening the Financial System (NGFS), and the UN-convened Sustainable Insurance Forum (SIF). These organizations intend to collaborate to improve the skillset of the central bank and supervisory community on managing physical and transition risks from climate change. The authorities will use the FSI Connect platform led by the Financial Stability Institute (FSI) of BIS.

    The Climate Training Alliance brings together authorities at the forefront of climate risk management to share best practices for integrating these risks into their activities, including banking and insurance supervision, scenario analysis, monetary policy, and portfolio management. The Climate Training Alliance will bring together FSI Connect tutorials based on handbooks, guidance, and standards from international organizations as well as access to the training provided by financial authorities, starting with the Bank of England (BoE), the Central Bank of France (BDF), the Central Bank of the Netherlands (DNB), the European Central Bank (ECB), and the Monetary Authority of Singapore (MAS). The suite of handbooks and international standards by Basel Committee on Banking Supervision (BCBS), IAIS, NGFS, and SIF on climate risk management will be developed into training materials to provide more practical support for the authorities implementing these approaches. This will be coupled with access to peer-to-peer training resources, including offering region-specific and cutting-edge training. 

    In addition, the BIS Innovation Hub, the Committee on Payments and Market Infrastructures (CPMI), the International Monetary Fund (IMF), and the World Bank have released a joint report on facilitation of cross-border payments by the central bank digital currencies and on the practical efforts that are taking these considerations forward. To date, no major jurisdiction has launched a central bank digital currency and many design and policy decisions are still unresolved. Also, most investigations on central bank digital currencies by central banks focus on domestic issues. In this context, this report is exploratory and examines cross-border implications with the assumption that central bank digital currencies will become widely used. Facilitating international payments with central bank digital currencies can be achieved through different degrees of integration and cooperation, ranging from basic compatibility with common standards to the establishment of international payment infrastructures. The analysis highlights both the need for multilateral collaboration on macro-financial consequences as well as the importance of interoperability between central bank digital currencies. The report also identifies various important and complex questions that are still to be further analyzed.


    Related Links

    Keywords: International, Banking, Insurance, Securities, Climate Change Risk, ESG, Climate Change Alliance, CBDC, Digital Currencies, NGFS, Suptech, BIS Innovation Hub, Suptech, BIS

    Featured Experts
    Related Articles

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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