FSB Releases Update on Meeting of Regional Consultative Group for Asia
FSB published an update on the meeting of its Regional Consultative Group (RCG) for Asia. The meeting was hosted by Bank Negara Malaysia in Kuala Lumpur. The key topics of the discussion included design and use of financial-sector crisis simulation exercises, growth of nonbank financial intermediation, work on addressing climate change risks, and impact of regulatory reforms on small and medium enterprise (SME) financing.
Discussions at the meeting involved the following topics:
- Vulnerabilities and financial stability issues, including risks from global trends, including the resumption of upward prices in risky assets, loosening of credit standards, and increases in the cost of credit.
- Update on the FSB work program, particularly related to market fragmentation, financial innovation and fintech credit, and cyber incident response and recovery.
- Design and use of financial- sector crisis simulation exercises: members were briefed on lessons learned from simulation exercises in Hong Kong SAR and Singapore and exchanged views on how a regional exercise could be conducted.
- Growth of non-bank financial intermediation in Asia.
- Exchange of views on the impact of the reforms on SME financing: observations included the fact that the recent consultation report on effects of financial regulatory reforms on SME financing does not identify material and persistent negative effects on SME financing; benefits and challenges of fintech credit for SME financing were also discussed.
- Discussion on the financial risks, both physical and transition, resulting from climate change; analysis of recommendations put forward by the Network for Greening the Financial System; and exchange of views on the roles of financial institutions, central banks, and supervisors.
Related Link: Summary of Meeting
Keywords: International, Asia Pacific, Banking, RCG, Fintech, Financial Stability, Shadow Banking, Climate Change risks, FSB
Related Articles
|
News
EBA Report Assesses Regulatory Framework for Fintech ActivitiesEBA published the findings of its analysis on the regulatory framework applicable to fintech firms when accessing the market.
July 18, 2019
WebPage
Regulatory News
|
|
News
OSFI Revises Capital Requirements for Operational Risk for BanksOSFI is revising its capital requirements for operational risk, in line with the final Basel III revisions published by BCBS in December 2017.
July 18, 2019
WebPage
Regulatory News
|
|
News
OSFI Consults on Revised Principles for Management of Liquidity RiskOSFI proposed revisions to Guideline B-6 on the principles for the management of liquidity risk.
July 18, 2019
WebPage
Regulatory News
|
|
News
ESMA Guidance on Disclosures for Credit Rating Sustainability IssuesESMA published the technical advice on sustainability considerations in the credit rating market, along with the final guidelines on disclosure requirements applicable to credit ratings.
July 18, 2019
WebPage
Regulatory News
|
|
News
FASB Issues Q&A on Estimation of Expected Credit Losses by FirmsFASB issued a second question-and-answer (Q&A) document that addresses more than a dozen frequently asked questions related to the Accounting Standards Update No. 2016-13 titled “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.”
July 17, 2019
WebPage
Regulatory News
|
|
News
US Agencies Delay Enforcing Volcker Rule Restrictions on Foreign FundsUS Agencies (FDIC, FED, and OCC) announced that they will not take action related to restrictions under the Volcker Rule for certain foreign funds for an additional two years.
July 17, 2019
WebPage
Regulatory News
|
|
News
SRB Announces SRF Receives Cash Injection, Grows to EUR 33 billionSRB announced that the Single Resolution Fund (SRF or the Fund) received a cash injection of EUR 7.8 billion from 3,186 institutions in 2019, bringing the total amount in the Fund to about EUR 33 billion.
July 17, 2019
WebPage
Regulatory News
|
|
News
FASB to Propose to Delay CECL Compliance Deadline for Certain EntitiesFASB published a summary of the tentative decisions taken at its Board meeting in July 2019.
July 17, 2019
WebPage
Regulatory News
|
|
News
IMF Publishes Report on 2019 Article IV Consultation with VietnamIMF published its staff report in context of the 2019 Article IV consultation with Vietnam.
July 16, 2019
WebPage
Regulatory News
|
|
News
European Parliament Elects Next President of European CommissionEuropean Parliament elected Ursula von der Leyen from Germany as the first female President of the next European Commission for a five-year term from November 01, 2019.
July 16, 2019
WebPage
Regulatory News
|
