CPMI and IOSCO published the fourth update to the Level 1 assessments of implementation monitoring of the Principles of Financial Market Infrastructures (PFMI). Participating jurisdictions continue to make progress in completing the process of adopting legislation, regulations, and/or policies that will enable them to implement the PFMI. This report reflects the status of jurisdictions’ legal, regulatory, or policy frameworks as of January 06, 2017.
These Level 1 assessments are based on self-assessments by individual jurisdictions of how they have adopted, within their regulatory and oversight frameworks, the PFMI's 24 Principles for financial market infrastructure (FMI) and four of the five responsibilities for authorities. The report shows that some progress has been made among the participating jurisdictions that had not completed their implementation measures at the time of the previous update in 2016. Overall, the fourth update to the Level 1 assessments shows that participating jurisdictions have continued to make progress since the previous update in completing the process of adopting legislation, regulations, and/or policies that will enable them to implement the PFMI. Along with their updates to the Level 1 assessment, the CPMI and IOSCO also continue to monitor jurisdictions' progress at Levels 2 and 3. These assessments consider, respectively, the completeness of jurisdictions' implementation measures and their consistency with the PFMI, and consistency in the outcomes of such frameworks.
Keywords: International, Securities, PFMI, Level 1 Assessment, CPMI, IOSCO
Previous ArticleDNB Issues Insurance Newsletter for September 2017
Next ArticleEBA Responds to the EC Consultation on Fintech
BoE published a statistical notice (Notice 2020/9) explaining the approach for treatment of payment holidays on the profit and loss return or Form PL.
BoE updated the known issues document for the statistical reporting Forms AS and FV.
FED announced individual capital requirements for 34 large banks and these requirements go into effect on October 01, 2020.
SRB published a set of documents to give operational guidance to banks on implementation of the bail-in tool.
BIS published an update on the G20 TechSprint Initiative, which was launched in April 2020 and aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
EBA updated the report on the implementation of selected COVID-19 policies.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.