Featured Product

    FSC and FSS Announce Regulatory Changes for Financial Sector Entities

    May 06, 2020

    FSS, a South Korean regulator, published a notice on revision of requirements in the context of domestic systemically important banks or D-SIBs. The comment period for this notice ends on June 08, 2020. Additionally, FSC Korea made announcements related to postponement of the implementation of margin requirements for non-centrally cleared OTC derivative transactions and extension of the best practice guidelines on supervision of financial conglomerates.

    FSC Korea announced a one-year postponement of the implementation of margin requirements for non centrally cleared OTC derivative transactions to help ease compliance burdens on financial institutions amid the COVID 19 crisis. The revised deadline is September 01, 2021 for financial institutions with non centrally cleared derivatives of KRW 70 trillion or more and September 01, 2022 for financial institutions with non centrally cleared derivatives of KRW 10 trillion or more and less than KRW 70 trillion. FSC Korea also approved revisions to the best practice guidelines on supervision of financial conglomerates and decided to extend the implementation of these guidelines for another year from May 01, 2020 to April 30, 2021 The financial conglomerates will disclose their group-wide risks at the end of September 2020.

     

    Keywords: Asia Pacific, Korea, Banking, COVID-19, Basel III, IFRS 9, OTC Derivatives, Margin Requirements, D-SIBs, Systemic Risk, Financial Conglomerates, Guideline, FSS, FSC

    Featured Experts
    Related Articles
    News

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks

    May 20, 2022 WebPage Regulatory News
    News

    NGFS Report Explores Quantification of Climate Risk Differentials

    The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations

    May 19, 2022 WebPage Regulatory News
    News

    EC Publishes Results on Review of Web Accessibility Directive

    The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.

    May 19, 2022 WebPage Regulatory News
    News

    MAS Consults on Adjustment Spreads for Conversion of SOR Contracts

    The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.

    May 18, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8206