BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021. In a separate development, BCB reduced the number of rules on rural credit and Proagro (rural credit insurance). In particular, 1,692 "normative commands" contained in the Rural Credit Manual (MCR) were consolidated into 779. Another 376 normative commands were revoked. The action is part of a policy that applies to the entire Public Administration, with the objective of rationalizing and simplifying infra-legal regulation (norms with a hierarchy below the decree, such as ordinances, resolutions, normative instructions, among others). The action is being conducted in five phases. The third phase ended on May 31, the next phase runs from June 01 to August 31, and the last phase runs from September 01 to November 30 of this year.
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Keywords: Americas, Brazil, Banking, CCyB, Regulatory Capital, Rural Credit, Credit Risk, Basel, Macro-Prudential Policy, BCB
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The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.
The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.
The European Banking Authority (EBA) published a methodological guide to mystery shopping.
The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.
The Bank of England (BoE) published questions and answers (Q&A) on OSCA to BEEDS migration for statistical reporting as well a presentation from the project overview session held with statistical reporters.
The Basel Committee on Banking Supervision (BCBS) is consulting on a technical amendment to the Basel Framework to reflect a new process reviewing the global systemically important bank (G-SIB) assessment methodology.