Central Bank of Ireland Updates Notes on AnaCredit Data Returns

EBA Issues Final Guidance to Strengthen the Pillar 2 Framework in EU

EBA, in accordance with its Pillar 2 Roadmap, published the final revised guidelines to further enhance institutions' risk management and supervisory convergence in the supervisory review and examination process (SREP).

FSB Consults on Impact of Regulatory Reforms on Infrastructure Finance

FSB published a consultation report on the evaluation of the effects of financial regulatory reforms on infrastructure finance and is seeking public feedback on the results of the evaluation to date.

IMF Issues Reports on Financial Sector Surveillance of the Euro Area

The published documents include the staff report and the selected issues report under the 2018 Article IV consultation, the financial system stability assessment (FSSA) report, and several technical notes under the Financial Sector Assessment Program (FSAP).

EBA Publishes Final Guidelines on Fraud Reporting Under PSD2

EBA published the final report on the guidelines on fraud reporting under the revised Payment Services Directive (PSD2).

ESMA Supplements Guide to Endorsement Regime for Non-EU Credit Ratings

ESMA published supplementary guidance on the application of the endorsement regime for non-EU credit ratings under the Credit Rating Agencies Regulation (CRAR).

EIOPA Q&A on Regulations: First Update for July 2018

EIOPA published new sets of questions and answers (Q&A) on guidelines, implementing regulations, delegating regulations, directives, and risk-free rate technical information applicable to insurers in Europe.

EIOPA to Review Consumer Protection Issues in Travel Insurance in EU

EIOPA launched an EU-wide thematic review that is intended to identify consumer protection issues in travel insurance and possible actions to ensure better consumer protection.

FHFA Consults on New Capital Framework for Fannie Mae and Freddie Mac

FHFA and the Office of Federal Housing Enterprise Oversight proposed a new regulatory capital framework for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac)—collectively known as the Enterprises.

FINMA Revises Circulars on Implementation of Basel III in Switzerland

FINMA published revised circulars on interest rate risks, disclosures, capital requirements, and capital held by banks.

ESMA Defines Standards for Implementation of Securitization Regulation

ESMA issued the first set of technical standards under the Securitization Regulation, which contain both draft regulatory and implementing standards (RTS/ITS).

US Agencies Propose Guidance for the 2019 Resolution Plan Submissions

US Agencies (FED and FDIC) are inviting comments on proposed guidance for the 2019 and subsequent resolution plan submissions by the eight largest, complex U.S. banking organizations (Covered Companies).

OSFI Seeks Input on Domestic Implementation of Final Basel III Reforms

OSFI released a discussion paper titled on the implementation of the final Basel III reforms in Canada.

FSB Report on Work of FSB and Standard-Setting Bodies on Crypto-Assets

FSB published a report summarizing the work of FSB and other standard-setting bodies on crypto-assets. The report was delivered to the G20 Finance Ministers and Central Bank Governors.

FSI Publishes Report Examining Suptech Experience of Early Users

FSI published a report that examines the experience of early users with the use of innovative technology by supervisory agencies (suptech) to support supervision.

FSB Publishes Questionnaire for Prospective UPI Service Providers

FSB published a self-assessment questionnaire for prospective Unique Product Identifier (UPI) service providers.

MAS Proposes Regulations to Enhance Resolution Regime in Singapore

MAS published proposed regulations to enhance the resolution regime for financial institutions in Singapore.

EC Amends and Supplements MMFR Regarding STS Securitizations and ABCPs

EC published the Commission Delegated Regulation (EU) 2018/990 on simple, transparent, and standardized (STS) securitization and asset-backed commercial paper (ABCP) requirements for assets received as part of the reverse repurchase agreements and the credit quality assessment methodologies.

EC Amends Regulation on Liquidity Coverage Requirements for Banks

EC published the text of the Commission Delegated Regulation on liquidity coverage requirement for credit institutions. This Regulation amends the Delegated Regulation (EU) 2015/61 to supplement the Capital Requirements Regulation or CRR (EU Regulation No 575/2013).

BoE Statement on SRB and Pillar 2A in Stress Test Hurdle Rates

BoE published a statement providing details on two changes to the way hurdle rates are calculated in the annual stress test. These changes are only relevant to firms under the Capital Requirements Regulation (CRR).

PRA Issues Policy Statement on Group Supervision Under Solvency II

PRA published a policy statement (PS17/18) that provides feedback on the responses to the consultation paper CP38/16 and the final supervisory statement SS9/15 on group supervision under Solvency II.

ESMA Updates Q&As on EMIR and MiFID/MiFIR

ESMA updated question and answer (Q&A) documents on the European Markets Infrastructure Regulation (EMIR), temporary product intervention measures of ESMA in relation to contracts for differences (CFDs) and binary options, and the implementation of investor protection topics under the MiFID II/MiFIR.

FCA Issues Final Rules on Handbook Changes Regarding EU MMF Regulation

FCA published the policy statement PS18/17, which sets out final rules amending the FCA Handbook to ensure that it is consistent with the requirements of the EU Money Market Funds (MMF) Regulation.

ECB Announces Further Steps in Supervisory Approach to Stock of NPLs

ECB announced further steps in its supervisory approach for addressing the stock of non-performing loans (NPLs) in the euro area.

EIOPA Issues First Set of Q&A on Insurance Distribution Directive

EIOPA published the first set of questions and answers (Q&A) that provide practical guidance on the application of the Insurance Distribution Directive (IDD) and its implementing regulations.

ESMA Consults on Clearing Obligation Under EMIR

ESMA published a consultation paper on the clearing obligation under EMIR.

BoE Publishes Amended Branch Return Form

BoE published an amended Branch Return Form. BoE is planning to consult on the proposed change to the Branch Return Form.

OFR Proposes Rule for Data Collection from Central Counterparties

The U.S. Department of the Treasury's Office of Financial Research (OFR) proposed a rule to establish a data collection covering centrally cleared funding transactions in the U.S. repurchase agreement (repo) market.

HKMA Publishes Rules and Reporting Form for Banking Exposure Limits

HKMA announced that the negative vetting of the Banking (Exposure Limits) Rules by the Legislative Council has expired and the rules will come into operation from July 13, 2018.

US Agencies Publish Sections of Resolution Plans Due in July 2018

US Agencies (FED and FDIC) released the public portions of the resolution plans of several banks. FED published resolution plans of four foreign banking organizations: Barclays PLC, Credit Suisse Group AG, Deutsche Bank AG, and UBS AG.

OSFI Publishes the New Schedule B Reporting Requirements

OSFI published a letter requesting trustees and depositories of foreign bank branches and branches of foreign life insurance companies, fraternal benefit societies, and property & casualty insurance companies (branches) to begin filing Schedule B monthly reporting via the Regulatory Reporting System (RRS).

ESRB Publishes Its Annual Report for 2017

ESRB published its seventh annual report, which details its achievements and activities between April 01, 2017 and March 31, 2018.

RBNZ Releases Results of the 2017 Stress Test of Major Banks

RBNZ published the results of the 2017 stress tests of major banks. RBNZ also published its approach for using the stress tests to monitor the stability of the financial system.

EC Announces Entry Into Force of Fifth Anti-Money Laundering Directive

The Fifth Anti-Money Laundering Directive has entered into force following its publication in the Official Journal of the European Union.

PRA Issues PS16/18 on Changes to Reporting Requirements for Insurers

PRA issued the policy statement PS16/18, which provides feedback to responses to the consultation paper CP2/18 on changes in insurance reporting requirements.

EC Issues Rules for Assessing Use of AMA for Operational Risk by Banks

EC published the Commission Delegated Regulation (EU) 2018/959 on regulatory technical standards of the specification of the assessment methodology under which competent authorities permit institutions to use Advanced Measurement Approaches (AMA) for operational risk.

EIOPA Issues Opinion to Determine Insurance Class for Statutory Risks

EIOPA published its Mediation Opinion on the determination of the correct insurance class for the insurance policy known as statutory risks in France.

US Agencies Issue Statement on the Impact of EGRRCP Act

US Agencies (FDIC, FED, and OCC) issued a joint statement detailing rules and associated reporting requirements that are immediately affected by the enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).

EIOPA Launches EU-Wide Thematic Review on Big Data in Insurance Sector

EIOPA launched EU-wide thematic review on Big Data as a follow-up to the March 2018 cross-sectorial review of ESAs on the use of Big Data.

OSFI Consults on Revisions to Capital Adequacy Requirements Guideline

OSFI is consulting on revisions to the Capital Adequacy Requirements (CAR) Guideline for implementation in the first quarter of 2019.

European Parliament Issues Glossary of Terms Related to Banking Union

European Parliament published the abbreviation list and tri-lingual glossary (English, German, and French) lists.

RBNZ Issues In-Principle Decisions on Capital Requirements for Banks

RBNZ published its "in-principle decisions" on capital requirements for registered banks, as part of the review of capital adequacy in the New Zealand banking system.

ECB Paper on Institutional Continuity Between Eurosystem and SSM

ECB published a working paper on institutional framework governing the Eurosystem and the Single Supervisory Mechanism (SSM).

MAS Consults on the Revisions to Misconduct Reporting Requirements

MAS consults on the revisions to misconduct reporting requirements and the proposals to mandate reference checks for representatives.

BCBS Revises G-SIB Assessment Methodology and the HLA Requirement

BCBS revised the assessment methodology for global systemically important banks (G-SIBs), along with the higher loss absorbency (HLA) requirement.

BoE Publishes Version 3.1.0 of Its XBRL Taxonomy and Related Artefacts

This version of the taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules covers the requirements for reporting of Minimum Requirement for Own Funds and Eligible Liabilities (MREL) data.

MAS Amends Notices and Guide on Debt-Servicing Ratio on Property Loans

MAS amended Notices 645, 1115, 831, 128, 632, 115, and 825, along with the guidelines on the application of total debt-servicing ratio (TDSR) for property loans under Notices 645, 1115, 831, and 128 (TDSR Guidelines).

BoE/FCA/PRA Consult on Building Operational Resilience of FS Firms

BoE, FCA, and PRA jointly published a discussion paper on strengthening the operational resilience of financial services (FS) firms.

FDIC on Applying EGRRCP Act Amendments to Home Mortgage Disclosure Act

FDIC released a statement on implementation of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act amendments to the Home Mortgage Disclosure Act (HMDA).

IMF Publishes Report on the 2018 Article IV Consultation with Germany

IMF published its staff report under the 2018 Article IV consultation with Germany. Directors noted that profitability in the bank and life insurance sectors remains low and that restructuring efforts must be accelerated to durably strengthen resilience and reduce risks.

ESRB Publishes Risk Dashboard for June 2018

ESRB published its risk dashboard for June 2018, which contains a set of quantitative and qualitative indicators of systemic risk in the EU financial system.

EU Guide to Assess Suitability of Management and Key Function Holders

EBA and ESMA published the joint guidelines to assess the suitability of members of management bodies and key function holders.

FED Proposes to Adopt ISO 20022 Format for Fedwire Funds Service

FED proposed to adopt the ISO® 20022 message format for the Fedwire® Funds Service. If approved, the proposed action would replace the Fedwire Funds Service's current, proprietary message format.

IOSCO Proposes Good Practices for Commodities Storage and Delivery

IOSCO proposed the good or sound practices to assist relevant storage infrastructures and their oversight bodies to identify and address issues that could affect pricing of commodity derivatives and in turn affect market integrity and efficiency.

PRA Publishes PS15/18 on the Extension of SM&CR to Insurers

PRA published a policy statement (PS15/18) providing feedback to responses to CP14/17 on extension of the Senior Managers and Certification Regime (SM&CR) to insurers and to CP28/17 on implementing the extension of the SM&CR to insurers (along with certain other amendments).

FCA Announces List of Firms for Fourth Cohort of Regulatory Sandbox

FCA announced the list of 29 firms that were successful in their applications to begin testing in the fourth cohort of the regulatory sandbox. FCA received 69 applications to cohort four of the regulatory sandbox, representing an increase over the 61 applications received to cohort three.

ECB Publishes Report Presenting Best Practices in Recovery Planning

ECB published a report that presents its lessons learned and the best practices observed after three successive cycles of recovery plan assessments.

BoE Paper on Risk Sensitivity and Risk Shifting in Banking Regulation

BoE published a paper that examines risk sensitivity and risk shifting in banking regulation. The paper provides evidence that the more risk‐sensitive Basel II framework may have reduced banks’ incentives to engage in higher‐risk mortgage lending in the UK.

FCA Policy Statements on Extension of SM&CR to Firms and Insurers

FCA published the policy statements PS18/14 and PS18/15 on extending the Senior Managers & Certification Regime (SM&CR) to FCA firms and insurers, respectively.

HKMA Revises Module on Counterparty Credit Risk Management

HKMA issued a guidance note with the revised version of the Supervisory Policy Manual (SPM) module CR-G-13 on counterparty credit risk (CCR) management for authorized institutions.

PRA Proposes to Apply Leverage Ratio Framework to Systemic RFBs

PRA is proposing (CP14/18) to apply the systemic risk buffer framework in the UK leverage ratio framework. PRA proposes to apply the UK leverage ratio framework on a sub-consolidated basis to the ring-fenced bodies (RFBs) in scope, to amend the additional leverage ratio buffer (ALRB) to reflect the systemic risk buffer.

FED Updates the Draft Reporting Form FR Y-9C for Banks

Among the FED information collections that have been under review, FED posted the updated draft reporting form FR Y-9C, which is the report on consolidated financial statements for holding companies.

IMF Issues Report on 2018 Article IV Consultation with United States

IMF published its staff report under the 2018 Article IV consultation with the United States.

ESMA Publishes its Annual Report for 2017

ESMA published its annual report for 2017, which details objectives, activities, and key achievements of ESMA during the year.

ESMA Issues Responses to Consultations on Securitization Repositories

ESMA published the responses received to its two consultations on securitization repositories. Both the consultations were issued on March 23, 2018 and comment period ended on May 23, 2018.

ECB Consults on Materiality Threshold for Credit Obligations Past Due

ECB published a draft regulation on the definition of the materiality threshold for credit obligations past due.

FED Announces Aggregate Financial Sector Liabilities of Banks in US

FED announces that the aggregate financial sector liabilities equal USD 20,283,121,945,000 and the related measure is in effect from July 01, 2018 through June 30, 2019.

ESMA Clarifies Clearing Obligation for Pension Scheme Arrangements

ESMA issued clarifications via a statement on the clearing obligation for pension scheme arrangements (PSAs).

FED Proposes to Revise and Extend Form FR Y-15 for Three Years

FED proposed to extend for three years, with revision, the mandatory Banking Organization Systemic Risk Report (FR Y-15; OMB No. 7100-0352). The revisions are effective from the June 30, 2018 report date. FED also updated the reporting form and instructions for FR Y-15.

EBA Reports Assess Impact of Fintech on Business Models of Banks

EBA, as the first products of its fintech roadmap, published a thematic report on the impact of fintech on incumbent credit institutions' business models and a thematic report on the prudential risks and opportunities arising for institutions from fintech.

RBNZ Consults on Insurance Solvency Standards and NZ IFRS 16

RBNZ is consulting on the insurance solvency standards and the NZ IFRS 16 on leases.

CBIRC Issues XBRL Taxonomy for ALM Reporting by Insurance Companies

CBIRC issued notice on the issuance of XBRL taxonomy for the quarterly report on insurance asset and liability management (ALM) and the implementation of the insurance ALM regulatory information system module.

APRA Proposes Updates to Related Parties Framework for Banks

APRA proposed changes to the requirements for authorized deposit-taking institutions in managing risks from associations with related parties.

FED and FDIC Extend Resolution Plan Filing Deadline for Domestic Firms

FED and FDIC announced that they have extended the next resolution plan filing deadline for 14 domestic firms by one year to December 31, 2019.

PRA Publishes CP13/18 on Equity Release Mortgages Under Solvency II

PRA published the consultation paper (CP13/18) that sets out additional PRA expectations from firms investing in equity release mortgage (ERM) portfolios, as set out in Chapter 3 of the supervisory statement SS3/17.

FSB Issues Public Consultation on Cyber Lexicon

FSB published a draft Cyber Lexicon for public consultation. The Cyber Lexicon comprises a set of 50 core terms related to cyber security and cyber resilience in the financial sector.

BaFin Publishes Circular on Insurance Regulatory Requirements for IT

BaFin published circular 10/2018 on insurance regulatory requirements for information technology (IT). The circular provides a flexible and practical framework for the management of IT resources, information risk management, and information security management.

PRA Updates PS31/17 to Include Benchmarking Regulation Instrument 2018

PRA updated the policy statement PS31/17 to include the EU Benchmarking Regulations Instrument 2018, based on the legislative framework for PRA to implement the EU Benchmarks Regulation (BMR).

US Agencies Propose the 2019 Resolution Plan Guidance for Large Banks

The US Agencies (FDIC and FED) proposed the revised resolution plan guidance for the 2019 and subsequent resolution plan submissions of the eight largest, most complex U.S. banks.

MAS Amends Guideline ID 01/17 and Notices 302, 318, 320, and 322

MAS issued amendments to MAS Notices 302, 318, 320, and 322, along with the amendments to the guidelines on the online distribution of life policies with no advice (Guideline ID 01/17). The amendments to the relevant Notices and Guideline will take effect on July 02, 2018.

ECB Updates Q&A on AnaCredit Regulation in June 2018

ECB updated 13 questions and answers (Q&A) on AnaCredit Regulation.

CBIRC Issues Rules for Financial Asset Management Companies in China

CBIRC issued the “Administrative Measures for Financial Assets Investment Companies” (for trial implementation).

EBA Updated Implementing Standards for the 2019 Benchmarking Exercise

EBA published the updated implementing technical standards, which amending Commission Implementing Regulation (EU) 2016/2070, on the benchmarking of internal models.

BCBS Issues Technical Amendment to Net Stable Funding Ratio for Banks

BCBS approved a technical amendment on the treatment of extraordinary monetary policy operations in the net stable funding ratio (NSFR).

FIN-FSA Decides to Impose Systemic Risk Buffer on Credit Institutions

The Board of the Finnish Financial Supervisory Authority (FIN-FSA) has decided to impose, on credit institutions, a structural additional capital requirement in the form of the systemic risk buffer.

IAIS Consults on Revisions to ICP 6 and ICP 20 for Insurers

IAIS is consulting on the revised Insurance Core Principles on Changes in Control and Portfolio Transfers (ICP 6) and on Public Disclosure (ICP 20).

IAIS Publishes Application Paper on Supervising Insurer Cybersecurity

IAIS published a draft application paper on the supervision of insurer cybersecurity. The application paper provides further guidance to supervisors seeking to develop or enhance their approach to supervising the cyber risk, cybersecurity, and cyber resilience of insurers.

FED Releases Results of Comprehensive Capital Analysis and Review

FED released results of the Comprehensive Capital Analysis and Review (CCAR). The results show that, out of the 35 participating firms, FED objected to the capital plan from DB USA Corporation due to qualitative concerns.

SEC Adopts Inline XBRL for Tagged Data for Companies and Funds

SEC adopted amendments to eXtensible Business Reporting Language (XBRL) requirements for operating companies and funds.

EBA Issues Opinion on Stricter Macro-Prudential Measure by Swedish FSA

EBA published an opinion following the notification by Finansinspektionen, the Swedish Financial Supervisory Authority (FSA), of its intention to change the method it uses to apply a risk-weight floor for Swedish mortgages through Pillar 2.

IMF Publishes Reports on the 2018 Article IV Consultation with Ireland

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Ireland.

EP Publishes Reports on Proposals Amending CRD IV, CRR, BRRD, and SRMR

European Parliament published reports on the proposals to amend the fourth Capital Requirements Directive (CRD IV), the Capital Requirements Regulation (CRR), Bank Recovery and Resolution Directive (BRRD), and Single Resolution Mechanism Regulation (SRMR).

OCC Updates Booklets of Comptroller Handbook for Community Banks in US

OCC issued the revised “Bank Supervision Process,” “Community Bank Supervision,” “Compliance Management Systems,” and “Large Bank Supervision” booklets of the Comptroller’s Handbook. In addition, OCC updated the “Federal Branches and Agencies Supervision” booklet.

BCBS Publishes Responses to Consultation on Market Risk Standards

BCBS, on March 22, 2018, launched a consultation on revisions to the minimum capital requirements for market risk.

SEC Adopts Changes to Public Liquidity Risk Management Disclosure

SEC adopted amendments to public liquidity-related disclosure requirements for certain open-end funds. The amendments will become effective sixty days after they are published in the Federal Register.

PRA Amends the Large Exposures Framework and Reporting Rules for Banks

PRA published the Policy Statement PS14/18 that provides feedback to responses to the consultation paper CP20/17 on changes to the large exposures framework of PRA.

IMF Publishes Reports on the 2018 Article IV Consultation with Georgia

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Georgia and completed second review of Extended Fund Facility of Georgia.

BOG Issues the Capital Requirements Directive Under Basel II

The Bank of Ghana (BOG) published the Capital Requirements Directive (CRD) under Section 92(1) of the Banks and Specialized Deposit-taking Institutions Act 2016 (the BSDI Act) and under Section 4(d) of the Bank of Ghana Act 2002.

EIOPA Opines Insurers Must Inform Customers About Impact of Brexit

EIOPA published an Opinion addressed to national supervisory authorities about the duty of insurance undertakings and insurance intermediaries to inform customers about the possible impact of the withdrawal of the UK from EU.

IAIS Publishes Newsletter for June 2018

IAIS published its newsletter describing the activities and achievements this month.

BCRA Updates Minimum Capital Requirements and LCR Rules for Banks

BCRA updated the minimum capital requirements and liquidity coverage ratio (LCR) rules under the Basel standards for banks.

IASB Chair Speaks on Adoption of IFRS Standards Including IFRS 17

During the IFRS Foundation Conference in Frankfurt, the IASB Chair provided a brief update on the spread of IFRS Standards worldwide and discussed the ongoing work of the Board.

BoE Notifies on Approach of UK to Financial Legislation Under EUWA

HM Treasury set out its approach to onshoring financial services legislation under the European Union (Withdrawal) Act (EUWA).

EIOPA Submits to EC Standards for Professional Indemnity Insurance

EIOPA submitted, as required by Article 10(7) of the Insurance Distribution Directive, the draft regulatory technical standards to EC for adapting the base euro amounts for professional indemnity insurance and financial capacity of insurance intermediaries.

SNB Updates Reporting Forms for Capital Adequacy Under Basel III

SNB updated the capital adequacy reporting forms (release 2.8) and instructions for Basel III.

FCA Issues Statement on Its Role in Preparing for Brexit

FCA issued a statement that provides stakeholders with an update on how it is preparing for the UK leaving the EU.

BoE Publishes Financial Stability Report in June 2018

BoE published the financial stability report, which sets out view of the Financial Policy Committee (FPC) on the stability of the UK financial system and what it is doing to remove or reduce any risks to the system.

ESRB Issues Opinion on Stricter Macro-Prudential Measure by Sweden

ESRB published its opinion on the Swedish notification of a stricter national measure on prudential requirements for credit institutions and investment firms, based on Article 458 of the Capital Requirements Regulation (CRR or EU Regulation No 575/2013).

HKMA and SFC Conclude Consultation on Enhancing OTC Derivatives Regime

HKMA and SFC issued conclusions to a joint consultation on further enhancements to the over-the-counter (OTC) derivatives regulatory regime in Hong Kong.

DNB Publishes Banking and Insurance Newsletters for June 2018

DNB issued the banking and insurance newsletters for June 2018.

OFR Paper on Ontology of Ownership and Control Relations of BHCs

OFR published a paper that outlines an approach to capturing information in the National Information Center database about bank holding companies (BHCs) and their subsidiaries, along with their ownership and control relationships.

Randal Quarles of FED on US Interest in Promoting Financial Stability

Randal K. Quarles of FED spoke about the interest of United States in the global efforts to promote financial stability.

Wuermeling of Bundesbank on Europe as a Financial Center After Brexit

Prof. Joachim Wuermeling the Deutsche Bundesbank spoke at the annual reception of the Association of Foreign Banks in Germany, Frankfurt. He spoke about the future of Europe as a financial center after Brexit.

Verena Ross of ESMA Speaks on Importance of LEI in Context of MiFID II

Verena Ross, the ESMA Executive Director, spoke at the Banque De France Conference in Paris about the importance of Legal Entity Identifier (LEI) in the context of the second Markets in Financial Instruments Directive (MiFID II).

IMF Issues Reports on 2018 Article IV Consultation with Czech Republic

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Czech Republic. The banking system is well-capitalized, liquid, and profitable.

Bundesbank Publishes Version 4.0 of Handbook for AnaCredit Validations

Deutsche Bundesbank published Version 4.0 of its handbook for AnaCredit validations.

IMF Publishes Technical Notes on FMIs and AML/CFT in China Under FSAP

One technical note addresses systemic oversight of financial market infrastructures (FMIs) while the other note assesses the anti-money laundering and combating the financing of terrorism (AML/CFT) framework in the country.

ESMA Publishes Responses to Consultation on Aspects of CRA Regulation

ESMA published the responses received to its consultation on draft guidelines on “as stringent as” notion in the CRA Regulation.

Valdis Dombrovskis of EC Speaks on Reviews of Solvency II

Valdis Dombrovskis, the Vice President of EC, spoke at the Insurance Europe conference on Solvency II.

EC Vice President Speaks on Action Plan for Sustainable Finance in EU

The EC Vice President Valdis Dombrovskis discussed the EC Action Plan for sustainable finance during a keynote speech at the Principles for Responsible Investment (PRI) Conference in Brussels.

Benoît Cœuré of ECB Speaks on Future of FMIs

Benoît Cœuré of ECB spoke at the Central Bank Payments Conference on the future of financial market infrastructures.

ESMA Publishes Responses to Consultation on EMIR Clearing Obligation

ESMA published the responses received to the consultation on amendments to the EMIR Clearing Obligation under the Securitization Regulation. ESMA published the responses received from six entities.

APRA Issues Template and Instructions for P1R3 Life Claims Data

APRA issued reporting template, questionnaire, and instructions for the Phase 1 Round 3 (P1R3) of the life insurance claims data collection.

EIOPA Publishes the Financial Stability Report in June 2018

EIOPA published the Spring 2018 financial stability report on the insurance, reinsurance, and occupational pensions sectors in the European economic area.

EBA Updates the Guides on Supervisory Data in Light of IFRS 9 Changes

EBA updated the methodological guide and the guidance note on supervisory data, in light of IFRS 9 changes introduced with the EBA reporting framework version 2.7 from reference date March 2018.

EBA Issues Opinion on Brexit Preparations of Financial Institutions

EBA published an opinion on the risks posed by lack of preparation by financial institutions for the departure of UK from EU.

ECB Paper Proposes Advanced IRB Models for Defaulted Exposures

ECB published a working paper that presents a proposal to construct advanced internal ratings-based (IRB) models for defaulted exposures, in line with the current regulations, to preserve the risk-sensitivity of capital requirements.

Bank of Italy Updates Schema and Handbook for AnaCredit Reporting

Bank of Italy published an updated schema for AnaCredit reporting, along with the Version 1.2 of the AnaCredit Handbook for reporting.

FSB Issues Summary of its Plenary Meeting in June

The FSB Plenary met in Basel to discuss risks and vulnerabilities from market developments in the global financial system and progress against its 2018 workplan for delivery to the Argentine G20 Summit in November.

IMF Issues Reports on 2018 Article IV Consultation with Lithuania

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Republic of Lithuania.

CBJ Issues Instructions for Implementing IFRS 9 in Jordan

CBJ explained in its instructions that the proper implementation of the new standard requires coordination and integration between different units of work in banks, especially units responsible for credit and risk management, financial, and information systems.

BIS Publishes Its Annual Report and Annual Economic Report for 2017–18

BIS separately published the annual report and the annual economic report for 2017–18. The annual report provides a description of its activities, governance, and organization, along with its annual financial statements for 2017–18.

EBA Single Rulebook Q&A: Third Update for June 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A) related to own funds under the Capital Requirements Regulation (CRR or EU Regulation No 575/2013).

EBA Consults on Guidelines on Outsourcing in the EU

The draft guidelines provide a clear definition of outsourcing and specify the criteria to assess whether or not an outsourced activity, service, process, or function (or part of it) is critical or important. The consultation runs until September 24, 2018.

EBA Includes PSD2 to the Interactive Single Rulebook and Q&A Tools

EBA updated its online Interactive Single Rulebook and Questions and Answers (Q&A) tool with the inclusion of the second Payment Services Directive (PSD2).

ESMA Publishes Opinion on Liquidity Risk Assessment of CCPs Under EMIR

ESMA issued an opinion, under the European Markets Infrastructure Regulation (EMIR), that outlines the way central counterparties (CCPs) should assess liquidity risk.

IASB Issues Work Plan and Meetings Updates for June 2018

IASB published the updated work plan, along with the updates on its June meeting and on its joint meeting with the FASB, which was held on June 19, 2018.

BCB Consults on Pillar 3 Disclosure Requirements in Brazil

The proposal is in line with the Pillar 3 disclosure requirements published by BCBS. The new rules should come into force in January 2020.

BoE Examines Optimal Methods of Internal Capital Allocation by Banks

BOE published an article that discusses the range of methods that banks use to allocate equity capital to their business lines, drawing on reviews conducted by PRA.

Central Bank of Ireland Proposes Changes to Domestic Actuarial Regime

Central Bank of Ireland is consulting (CP122) on changes to the Domestic Actuarial Regime and related governance requirements under Solvency II (Domestic Actuarial Regime).

FSB Guidance on Bail-In Execution and Resolution Funding for G-SIBs

FSB published two guidance documents to assist authorities in implementing its Key Attributes of Effective Resolution Regimes for global systemically important banks (G-SIBs).

EIOPA Issues an Expanded Set of Solvency II Statistics on EU Insurers

EIOPA published a new set of statistical information on the European insurance sector, based on Solvency II regulatory reporting for the fourth quarter of 2017.

BCB Issues Circular to Amend LCR and NSFR Regulations in Brazil

BCB issued Circular No. 3,905 that amends regulations on the liquidity coverage ratio (LCR) and the net stable funding ratio (NSFR) in Brazil.

FED Releases Results of Supervisory Stress Tests for Banks

FED published the results of the 2018 supervisory stress tests for banks. The results show that the nation's largest bank holding companies are strongly capitalized and would be able to lend to households and businesses during a severe global recession.

EBA Releases the First Two Papers in Its Staff Papers Series

EBA launched its Staff Papers series, which provides a platform for EBA staff to disseminate research and thematic analyses to a wider public.

OSFI Consults on 2019 Minimum Capital Test Guideline for P&C Insurers

OSFI proposed the draft version of the 2019 Minimum Capital Test (MCT) guideline for property and casualty (P&C) insurers in Canada.

BCBS Assesses Progress in Implementing Principles for Risk Reporting

BCBS published the progress report on the implementation of the principles for effective risk data aggregation and reporting by banks.

ESMA Chair on Achievements and Priorities of MiFID II Implementation

The ESMA Chair Steven Maijoor spoke at the FESE Convention 2018 in Vienna about the achievements and current priorities of the implementation of the second Markets in Financial Infrastructure Directive (MiFID II).

Danièle Nouy of ECB on the ECB Approach to Supervising Governance

During the keynote speech at the farewell seminar of Jan Sijbrand in Amsterdam, Danièle Nouy, Chair of the Supervisory Board of ECB, spoke about the ECB Banking Supervision’s approach to supervising governance.

CBUAE Publishes Regulation and Standards on Risk Management by Banks

CBUAE published Regulation and Standards on risk management for banks. The purpose of the Regulation and the Standards is to establish an overarching prudential framework for risk management in banks and to strengthen risk management across the banking sector.

CBUAE Publishes Country and Transfer Risks Regulation and Standards

CBUAE published the Regulation and the Standards on country and transfer risks. The Regulation and the Standards are intended to ensure country and transfer risks are appropriately managed by banks, in line with the leading international practices.

IMF Publishes Reports on 2018 Article IV Consultation with Sri Lanka

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Sri Lanka.

DGM of BIS Examines Impact of Fintech on Emerging Market Economies

BIS published panel remarks by Luiz Awazu Pereira da Silva, the Deputy General Manager (DGM) of BIS, at the CV Meeting of Central Bank Governors of CEMLA, on June 05, 2018, in Paraguay.

ECB Updates Manual for Asset Quality Review of Banks

The update incorporates the implications of the entry into force of the new accounting standard IFRS 9 and takes into account the increasing importance of bank business models focused on investment services, in particular in the context of Brexit.

IMF Publishes Reports on the 2018 Article IV consultation with Denmark

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Denmark. The assessment reveals that banks are well-capitalized and progress was made with upgrading the regulatory framework.

IMF Assesses Implementation of BCPs in Romania Under the FSAP

IMF published a report on the detailed assessment of observance of the implementation of the Basel Core Principles for Effective Banking Supervision (BCPs) in Romania, under its Financial Sector Assessment Program (FSAP).

European Council Agrees Its Stance on Pan-European Pension Product

The regulation would add a pan-European framework for people who wish to use PEPPs as a saving option.

EC Finalizes the Fifth Money Laundering Directive in EU

EC published Directive (EU) 2018/843, which amends Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, in addition to amending Directives 2009/138/EC and 2013/36/EU.

EBA Consults on the Standards for Calculation of KIRB Under CRR

EBA launched a public consultation on draft regulatory technical standards specifying the conditions to allow institutions to calculate capital requirements of the securitized exposures (KIRB), in accordance with the purchased receivables approach laid down in the amended Capital Requirements Regulation (CRR).

Danièle Nouy of ECB Speaks on the Work of ECB Banking Supervision

Danièle Nouy, Chair of the ECB Supervisory Board, discussed the work of ECB Banking Supervision at the European Parliament’s Economic and Monetary Affairs Committee.

BoE Paper Examines Impact of Leverage Ratio on Client Clearing

This paper assesses the relative importance and interaction of capital requirements and "margining" in over-the-counter (OTC) derivative markets.

EC Amends Guideline on Monetary and Financial Statistics in EU

EC issued Guideline (EU) 2018/877, which amends the Guideline ECB/2014/15 on the monetary and financial statistics in EU.

EBA Publishes its Annual Report for 2017

EBA published its 2017 Annual Report. The report provides a detailed account the work of EBA in the past year and describes the key areas of focus in the coming years.

IMF Publishes Reports on 2018 Article IV Consultation with Switzerland

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Switzerland.

European Parliament Briefing on Level 2 Measures Under CRD V/CRR II

European Parliament published a briefing that has been prepared to support the work of ECON Committee on the scrutiny of delegated acts, in particular the discussion of June 18, 2018 on the forthcoming draft measures (Delegated Acts) and in particular regulatory technical standards under the CRD IV and the CRR.

ECB Revises Assessment Methodology for Payment Systems in EU

The revised methodology covers the requirements introduced by the revised systemically important payment systems (SIPS) Regulation, which entered into force in December 2017 and additionally references the Eurosystem’s Cyber Resilience Oversight Expectations (CROE).

EIOPA Publishes its Annual Report for 2017

The report contains a comprehensive account of the activities of EIOPA in the implementation of its mandate and work program during 2017.

CSRC and CBIRC Issue Rules Governing the Chinese Depository Receipts

The measures include "Measures for Administration of Securities Issuance and Underwriting," "Implementation Measures for Continued Supervision after Listing of Domestically Issued Shares or Depository Receipts of Innovative Enterprises (Trial)," and "Guidelines on Content and Format of the Depository Agreement (Trial).

EBA Single Rulebook Q&A: Second Update for June 2018

The Single Rulebook question and answer (Q&A) updates for this week include two items on supervisory reporting.

RBI Amends Level 1 HQLA Requirement for Computing LCR of Banks

RBI amended the requirement of Level 1 High Quality Liquid Assets (HQLA) for computing the liquidity coverage ratio (LCR) of banks. The LCR computation is a part of the RBI's Basel III framework on liquidity standards, which covers LCR, liquidity risk monitoring tools, and LCR disclosure standards.

CBM Publishes Reporting Schedules for Investment Funds in Malta

CBM published the full set of reporting schedules for investment funds, along with the Schedule ML. The reporting schedules are intended for entities licensed to carry out activities related to the business of Securities and Markets.

APRA Updates List of D2A Validation and Derivation Rules for Reporting

APRA published a list of the latest Direct to APRA (D2A) validation rules for authorized deposit-taking institutions and insurers.

FED Adopts Final Rule on SCCL for Large Banking Organizations

FED adopted the final rule to establish single counterparty credit limits (SCCL) for banks.

ACPR Updates COREP and FINREP Taxonomy DPM Version 2.7 for Banks

ACPR updated COREP and FINREP Data Point Model (DPM) Version 2.7. The COREP and FINREP remittances at the March 2018 decree based on the DPM version 2.7 revealed a number of controls that were identified as inconsistent.

IMF Publishes Reports on 2018 Article IV Consultation with Algeria

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Algeria.

IMF Report Suggests to Improve Bank Resolution Framework in Mauritius

IMF published the technical assistance report on strengthening bank resolution and crisis management framework in Mauritius.

BoE Issues Policy on Valuation Capabilities to Support Resolvability

BoE released its final Statement of Policy on valuation capabilities to support resolvability. The policy statement also discusses responses to the consultation paper, which was published in August 2017.

European Parliament Issues Paper Examining the 2018 Stress Test Design

European Parliament published a research paper that examines how demanding and consistent is the 2018 stress test design in comparison to the previous exercises.

ESMA Publishes Report on Supervisory Measures and Penalties Under EMIR

ESMA issued its first annual report on supervisory actions and penalties imposed by the national competent authorities under the European Market Infrastructure Regulation (EMIR).

European Parliament Publishes Paper on Challenges on BRRD Valuations

European Parliament published a research paper that discusses, from a legal perspective, the challenges and difficulties involved in the production of the valuation reports required by the Bank Recovery and Resolution Directive (BRRD).

EBA Consults on Clarifications for Regulatory Standards on SCA and CSC

EBA published an Opinion on the implementation of the regulatory technical standards on strong customer authentication (SCA) and common and secure communication (CSC).

PRA Publishes Policy Statement and Templates for MREL Reporting

PRA published the policy statement PS11/18, which provides feedback to responses to the consultation paper CP1/18 and sets out the final expectations of PRA on minimum requirement for own funds and eligible liabilities (MREL) reporting.

Bank of Italy Publishes Updates on AnaCredit Reporting in Italy

Bank of Italy published a number of updates on AnaCredit reporting, including updates to national regulations as well as technical guidance and support documentation.

CBIRC Issues Rules for Actuarial Reporting of Life Insurance Companies

CBIRC issues revisions to the rules for compilation of actuarial reports by life insurance companies.

IMF Publishes Reports on Financial Sector Assessment of Romania

IMF published a report on the assessment of financial sector in Romania, under the Financial Sector Assessment Program (FSAP).

Dietrich Domanski of FSB on Future Effective Global Resolution Regimes

While speaking in Brussels, Dietrich Domanski, the Secretary General of FSB, examined the recent and expected developments in the area of recovery and resolution of banks.

BaFin Issues Circular on Rules for Interest Rate Risk in Banking Book

The BaFin issued a new circular (Circular 9/18) on the interest rate risk in the banking book (IRRBB).

US Agencies Publish Semi-Annual Regulatory Agenda in June 2018

US Agencies (CFPB, CFTC, FED, and SEC) published the semi-annual regulatory flexibility agenda in the Federal Register, under the Regulatory Flexibility Act.

EBA Issues Revised List of ITS Validation Rules in June 2018

EBA issued a revised list of validation rules in its implementing technical standards (ITS) on supervisory reporting.

Valdis Dombrovskis of EC Speaks on Revision of EMIR

The EC Vice President Valdis Dombrovskis gave opening remarks at the European Parliament Plenary debate on the revision of European Market Infrastructure Regulation (EMIR).

IASB on Preparing the Market for IFRS 17 on Insurance Contracts

IASB published an article on preparing the market for the IFRS 17 standard on insurance contracts.

IMF Publishes Reports on 2018 Article IV Consultation with Angola

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Angola.

EBA Single Rulebook Q&A: First Update for June 2018

The Single Rulebook question and answer (Q&A) updates for this week include four items on the topics of credit risk and transitional arrangements for IFRS 9.

OSFI Releases Discussion Paper on Reinsurance Framework

OSFI released a discussion paper as part of its review of the reinsurance framework that is applicable to federally regulated insurers.

IMF Publishes Reports on 2018 Article IV Consultation with Bangladesh

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Bangladesh.

IMF Publishes Reports on 2018 Article IV Consultation with Guatemala

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Guatemala.

BNM Consults on Pillar 3 Disclosure Requirements for Banks

BNM issued an exposure draft that sets out the minimum requirements on disclosure of key information related to regulatory capital and risk exposures of a financial institution.

FED Announces the 2018 Schedule for DFAST and CCAR Results

FED announced the schedule for the results from Dodd-Frank Act stress testing (DFAST) and Comprehensive Capital Analysis and Review (CCAR).

HKMA Finalizes Implementation of BDAR 2018 and Amendment Notice 2018

HKMA informed that the Banking (Disclosure) (Amendment) Rules 2018 (BDAR 2018) and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 (Amendment Notice 2018) will come into operation on June 30, 2018.

IMF Publishes Reports on Article IV Consultation with El Salvador

IMF published its staff report and selected issues report in the context of the Article IV consultation with El Salvador. Directors noted that El Salvador’s banking system is well capitalized and very liquid.

FSB Consults on Technical Implementation of TLAC Standard for G-SIBs

FSB published a call for public feedback on the technical implementation of its total loss-absorbing capacity (TLAC) standard for global systemically important banks (G-SIBs).

FSB Issues Update on Meeting of RCG for Americas

The FSB RCG for Americas discussed sovereign risk, regtech, crypto-assets, and work to reduce misconduct risk at its recent meeting in Asuncion, Paraguay.

APRA Standards to Strengthen Role of Appointed Actuary for Insurers

APRA released a final package of measures on actuarial and related matters to clarify and strengthen the role of the Appointed Actuary within general, life, and private health insurance.

Pentti Hakkarainen of ECB Speaks on Digitalization of Banking Sector

Pentti Hakkarainen of ECB spoke at the Lisbon Research Center about the benefits and risks attached to technological transformation of the banking sector.

ESMA Publishes Risk Dashboard for the First Quarter of 2018

ESMA issued the latest iteration of its risk dashboard, which covers risks in the securities markets in EU for the first quarter of 2018.

BoE Consults on Adoption of Global Standard for Payments in UK

BoE, in conjunction with the New Payments System Operator (NPSO) and the Payment System Regulator (PSR), launched a consultation on the adoption of a common global language or messaging standard, known as ISO 20022, for payments in the UK.

IMF Publishes Reports on 2018 Article IV Consultation with Romania

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Romania.

BSP Issues Guidelines for Implementing NSFR in the Philippines

BSP published (via Circular No. 1007) the implementing guidelines for net stable funding ratio (NSFR), including the NSFR reporting template, as part of the Basel III framework liquidity standards.

Central Bank of Ireland Issues Credit Data Types for AnaCredit

The Central Bank of Ireland updated material on the reporting of credit data, including the Credit Data Types document (related to the ACR1B Schema v.2 and ACR2B Schema v.2 documents).

BoE Publishes Results of Evaluation of its Resolution Arrangements

BoE published a report on the evaluation of its resolution arrangements by the Independent Evaluation Office (IEO).

FSB Issues Thematic Peer Review on Bank Resolution Planning

FSB launched the third thematic peer review on resolution regimes for banks. The review aims to evaluate implementation, by FSB jurisdictions, of the resolution planning standard set out in the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions and in associated guidance in relation to banks.

FSB Publishes Responses to Consultation on UPI Governance Arrangements

FSB published responses to the second consultation on governance arrangements for the Unique Product Identifier (UPI).

IMF Publishes Reports on 2018 Article IV Consultation with Thailand

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Thailand.

EC Holds Conference on Preparing Supervisory Reporting for Digital Age

EC held a conference on preparing supervisory reporting for digital age.

ESRB Updates the Summary of National Macro-Prudential Measures

ESRB updated the overview of national measures of macro-prudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures, and certain other measures.

ESMA Adopts Product Intervention Measures on CFDs and Binary Options

ESMA formally adopted new measures on the provision of contracts for differences (CFDs) and binary options to retail investors.

OSFI Consults on the 2019 LICAT Guideline for Insurers

OSFI is consulting on the 2019 Life Insurance Capital Adequacy Test (LICAT) guideline for federally regulated life insurance companies and fraternal benefit societies.

EBA Issues Implementing Technical Standards on Supervisory Disclosure

EBA published the final draft implementing technical standards on the format, structure, contents list, and annual publication date of the supervisory information to be disclosed by competent authorities.

EC Adopts Rules on Investments in STS Securitizations for Insurers

EC adopted new rules, via a Delegated Regulation, to stimulate investments of insurance companies in simple, transparent, and standardized (STS) securitization. The rules will apply as of January 01, 2019 if the European Parliament and the Council raise no objection to it.

FDIC and OCC Finalize Rule to Shorten Settlement Cycle for Securities

US Agencies (FDIC and OCC) issued a final rule to shorten the standard settlement cycle for securities purchased or sold by the institutions they supervise.

CBIRC Issues Measures for Administering Joint Credit Granting by Banks

CBIRC issued "Measures for the Administration of Joint Credit Granting of Banking Financial Institutions (Trial Implementation)."

BDE Issues Technical Instructions for Financial Reporting by Banks

BDE published technical instructions on rules for the presentation and telematic transmission of financial statements of credit institutions. BDE also published taxonomy related to semi-annual financial statements (FI 160 to FI 162) and annual financial statements (FI 180 to FI 182) in Annex 4 of Circular 4/2017.

ECB Publishes Examples of Complete Reports for AnaCredit

ECB published examples of complete reports that constitute an Annex to the AnaCredit Reporting Manual of ECB.

DNB Issues Insurance Newsletter for May 2018

DNB issued insurance newsletter for May 2018.

APRA Issues Results of Insurer Survey on Impact of AASB 16 and 17

APRA issued a letter providing high-level observations and summary of results of the 2017 survey on impact of accounting standards AASB 16 (Leases) and AASB 17 (Insurance Contracts) on insurance firms.

Peter Kohlhagen of APRA on Combating Complacency in PHI Sector

Peter Kohlhagen, APRA’s Senior Manager of Policy Development, spoke about combating complacency in a new era of Private Health Insurance (PHI) instability, at the Health Insurance Summit in Sydney.

FED Proposes to Simplify Compliance Requirements for Volcker Rule

FED published the proposed rule to simplify and tailor compliance requirements related to the Volcker rule.

ECB Issues Report on Self-Assessment of TARGET2 Against PFMIs

ECB published a report providing a summary of the self-assessment of the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET2) system against the principles for financial market infrastructures (PFMIs).

EBA and ESMA Issue Statement on Retail Holdings of Bail-In-Able Debt

EBA and ESMA published a joint statement encouraging institutions, market, and resolution authorities to properly consider retail holders of debt financial instruments subject to the Bank Recovery and Resolution Directive (BRRD) when carrying out their respective tasks.

HKMA Revises Guideline for Authorization of Virtual Banks in Hong Kong

HKMA published a revised guideline on the authorization of virtual banks, following the completion of a public consultation. HKMA also published a document on consultation conclusions, which contains detailed summary of comments recieved, along the responses of HKMA.

ESMA Updates Q&As on the Implementation of EMIR and CSDR

ESMA updated the question and answer (Q&A) documents on the implementation of the European Market Infrastructure Regulation (EMIR) and Central Securities Depository Regulation (CSDR).

CBIRC Revises Guidelines for the Management of IRRBB in China

The guidelines specify detailed requirements on management, measurement, supervision, and inspection of interest rate risk of commercial banks in the People's Republic of China. The effective date for the guidelines on IRRBB is January 01, 2019.

IMF Issues Reports on 2018 Article IV Consultation with Qatar

IMF published its staff report and selected issues report under the 2018 Article IV consultation with Qatar. Directors noted that the banking sector is healthy with high asset quality and strong capitalization.

Bundesbank Updates Supporting Documents for AnaCredit Reporting

Bundesbank updated versions of certain supporting documents for AnaCredit reporting.

ESMA Updates Q&As on MiFID II and MiFIR

ESMA updated question and answer (Q&A) document on data reporting under the Markets in Financial Instruments Regulation (MiFIR).

IMF Publishes Reports on 2018 Article IV Consultation with Colombia

IMF published its staff report and selected issues report post conclusion of the 2018 Article IV consultation with Colombia.

GLEIF Updates Global Regulatory Activities on the Use of LEI

GLEIF updated the list of current and proposed regulatory activities, including the use of the Legal Entity Identifier (LEI). The updates concern certain approved regulatory policies of RBI and the People's Bank of China (PBC).

ESMA Publishes Final Guidelines on MiFID II Suitability Requirements

ESMA published a report on the final guidelines for certain aspects of the Markets in Financial Instruments Directive (MiFID) II suitability requirements. The guidelines in the final report confirm and broaden the existing MiFID I guidelines on suitability, which were issued in 2012.

ESMA Updates Q&As on SSR and Application of UCITS

ESMA updated the question and answer (Q&A) documents on Short-Selling Regulation (SSR) and on the application of the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive.

ESMA Issues Guidelines on Anti-Procyclicality Margin Measures for CCPs

ESMA issued the final guidelines on anti-procyclicality margin measures for central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR).

OSFI Issues Guidelines on TLAC and Capital Disclosure Requirements

OSFI issued final versions of its guidelines on total loss-absorbing capacity (TLAC) disclosure requirements and capital disclosure requirements.

IMF Publishes Reports on 2018 Article IV Consultation with Netherlands

IMF published its staff report and selected issues report on the 2018 Article IV consultation with the Kingdom of the Netherlands.

ECB Updates Its Guide to Fit and Proper Assessments Under SSM

ECB updated its guide to fit and proper assessments in line with the Joint ESMA and EBA guidelines on suitability.

EBA Single Rulebook Q&A: Second Update for May 2018

The Single Rulebook Questions and Answers (Q&A) updates for this week include 11 items.

CSRC Issues Workplan on Use of Regtech to Supervise Securities Markets

CSRC issued a work plan for "Auditing and Enforcement of Science and Technology Construction."

CBIRC Issues Measures to Manage Liquidity Risk for Commercial Banks

CBIRC issued measures for the management of liquidity risk of commercial banks, with the effective date of implementation being July 01, 2018.

European Council Reaches Agreement on CRD 5, CRR 2, BRRD 2, and SRMR 2

European Council agreed on a package of measures aimed to reduce risk in the banking industry.

FDIC Seeks Comments on Renewal of Certain Information Collections

FDIC is soliciting comments on renewal of certain currently approved information collections under the Paperwork Reduction Act of 1995.

IASB Issues Work Plan and Meeting Updates for May 2018

IASB published an updated work plan, along with the update of its meeting in May 2018.

ESMA Updates Statistical Data on Performance of Credit Ratings

ESMA published its latest set of semi-annual statistical data on the performance of credit ratings, including transition matrices and default rates.

BCBS Updates Basel III Monitoring FAQ in May 2018

BCBS updated the list of frequently asked questions (FAQ) on Basel III monitoring for the collection of December 2017 data.

EC Issues Legislative Proposals on Sustainable Finance in EU

EC presented a package of measures as a follow-up to its action plan on financing sustainable growth.

EC Proposes Regulation on Sovereign Bond-Backed Securities in EU

EC proposed a regulation on sovereign bond-backed securities (SBBS) in the EU, the comment period for which ends on July 20, 2018.

EC Proposes to Adopt More Proportionate Rules to Support SME Listing

EC proposed new rules to give small and medium enterprises (SMEs) better access to financing through public markets.

Dietrich Domanski Speaks on FSB Focus Areas for Remainder of the Year

The FSB Secretary General Dietrich Domanski updated the Asia Securities Industry and Financial Markets Association (ASIFMA) Board on key issues that FSB will work on for the remainder of the year.

Bundesbank Updates Guideline on Internal Capital Adequacy Assessment

Deutsche Bundesbank published the revised version of the Internal Capital Adequacy Assessment Process (ICAAP) guideline. Bundesbank and BaFin had jointly launched the guideline for the supervisory assessment of bank-internal risk-bearing capacity concepts from 2011.

OCC Publishes Report on Key Risks for Federal Banking System

OCC published a semi-annual report that addresses key risks facing banks in the United States. The spring 2018 report reflects bank data as of March 31, 2018, unless otherwise indicated.

IMF Board Decides to Formally Recognize CPIFR for Banking Sector

The Executive Board of the IMF endorsed the proposal on the use of the core principles for Islamic finance regulations (CPIFR), which were developed by IFSB with the participation of the Secretariat of BCBS.

ECB Publishes the Results of its Biannual Financial Stability Review

ECB published the results of its biannual Financial Stability Review (FSR) in May 2018.

CFTC Proposes Amendments to the Margin Rule for Uncleared Swaps

CFTC proposed a rule amending the CFTC Margin Rule on margin requirements for uncleared swaps for swap dealers (SDs) and major swap participants (MSPs).

APRA Commences Post-Implementation Review of Prudential Framework

APRA commenced the post-implementation review of the superannuation prudential framework by releasing its first of a series of consultation papers on aspects of the prudential framework.

EBA Updates List of Other Systemically Important Institutions in EU

EBA updated the 2017 list of other systemically important institutions (O-SIIs) in EU. The list of O-SIIs is disclosed on an annual basis, along with any common equity tier 1 (CET1) capital buffer requirements, which may need to be set or reset.

EBA Releases the 2017 Data on Deposit Guarantee Schemes Across EU

EBA published the 2017 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD): available financial means and covered deposits.

Council Issues Compromise Texts for CRD 5, CRR 2, BRRD 2, and SRMR 2

European Council published the presidency compromise texts for proposals on the Capital Requirements Directive (CRD V), Capital Requirements Regulation (CRR II), Bank Recovery and Resolution Directive (BRRD 2), and Single Resolution Mechanism Regulation (SRMR 2).

IAIS Publishes Newsletter for May 2018

The May issue of the IAIS newsletter highlights that IAIS will increasingly pivot to a greater emphasis on enhancing supervisory practices.

PRA Consults on Its Approach to EU Securitization Regulation and SRT

PRA published the consultation paper CP12/18 that sets out the proposals on its approach to the EU Securitization Regulation and certain aspects of the revised Capital Requirements Regulation (CRR) banking securitization capital framework.

Congress Passes Economic Growth, Regulatory Relief, and CP Act

The U.S. House of Representatives voted 258-159 to pass the “Economic Growth, Regulatory Relief and Consumer Protection (CP) Act,” which is a significant pro-growth financial regulatory reform package.

MAS Consults on Improving Business Flexibility for Market Operators

MAS issued two consultation papers to improve business flexibility of market operators when establishing new centralized trading facilities and speed to market when launching new products.

EIOPA Report Studies Modeling of Market and Credit Risks by Insurers

EIOPA published the results of the first study on the modeling of market and credit risks in the insurance sector.

EBA Consults on Guide for Estimating Economic Downturn in IRB Modeling

EBA published two consultation papers: one on the draft regulatory technical standards specifying an economic downturn and the other on a set of guidelines for the estimation of loss given default (LGD) appropriate for conditions of an economic downturn.

EBA Public Hearing on EC Proposal to Develop European Secured Notes

EBA will hold a public hearing on June 26, 2018 to outline its draft answer to the EC's Call for Advice on the European secured notes.

IMF Issues Reports on the 2018 Article IV Consultation with Montenegro

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Montenegro.

CBIRC Issues Data Governance Guideline for Banking Institutions

CBIRC issued the final data governance guideline for banking financial institutions, post a consultation with the stakeholders.

CFTC Issues Advisory on Virtual Currency Derivative Product Listings

CFTC issued an advisory on the virtual currency derivative product listings. The advisory provides guidance on certain enhancements when listing a derivative contract based on virtual currency.

CBB Updates Form Prudential Information Report for Conventional Banks

CBB updated the Prudential Information Report (PIR) for conventional banks. The PIR is a report of the bank’s regulatory balance sheet and risk positions relative to regulatory limits.

EBA Single Rulebook Q&A: First Update for May 2018

The updates for this week include four items covering questions and answers (Q&A) related to supervisory reporting.

HKMA Publishes Rules on Equity Exposure Limits for Banks

The Banking (Amendment) Ordinance 2018 (Commencement) Notice 2018 and the Banking (Exposure Limits) Rules were gazetted to modernize section 87 of the Banking Ordinance in relation to a prescribed limit on equity exposures incurred by authorized institutions.

EC Rule on Excluding Trades from Own Funds Requirement for CVA Risk

EC published the Commission Delegated Regulation (EU) 2018/728 with respect to regulatory technical standards for procedures for excluding transactions with non-financial counterparties established in a third country from the own funds requirement for credit valuation adjustment (CVA) risk.

EC Amends Rule on Benchmarking Portfolios and Reporting Templates

EC published the Commission Implementing Regulation (EU) 2018/688 that amends the Implementing Regulation (EU) 2016/2070 on benchmarking portfolios, reporting templates, and reporting instructions.

EIOPA Opinion on Solvency Position of Insurers in Light of Brexit

EIOPA issued an opinion on the solvency position of insurers in light of the withdrawal of the UK from the EU (or Brexit).

ACPR Updates Taxonomic Controls for Taxonomy RAN 1.1.0 for Insurers

ACPR published an updated version of taxonomic controls for the Taxonomy RAN Version 1.1.0 for Solvency II reporting.

FINMA Consults on Pricing of Occupational Pension Funds in Switzerland

The Swiss Financial Market Supervisory Authority FINMA is consulting on the proposal to revise and simplify its supervisory practice in relation to the pricing of occupational pension funds.

BCL Circular on New Statistical Data Collection for Non-Regulated AIFs

BCL published the circular BCL 2018/241 for a new statistical data collection for non-regulated alternative investment funds (AIFs).

MAS Introduces Revised Reporting Standards for Banks Under Notice 610

MAS issued revised reporting standards for banks in Singapore, under its Notices 610 and 1003 on Submission of Statistics and Returns.

PRA Issues SS4/18 on Financial Management and Planning by Insurers

PRA issued the supervisory statement SS4/18 on financial management and planning by insurers.

HKMA Revises Module on Validating Risk Rating Systems for IRB Approach

HKMA issued, as a technical note, the revised version of the Supervisory Policy Manual (SPM) module CA-G-4 on validating risk rating systems under the internal ratings-based (IRB) approach for authorized institutions.

RBI Issues Final Guidelines on NSFR Standard Under Basel III

RBI published the final guidelines on the net stable funding ratio (NSFR), as part of its Basel III Framework on Liquidity Standards.

EC Vice President Speaks on Banking and Capital Markets Unions

The EC Vice President Valdis Dombrovskis discussed the ongoing work in the areas of Banking Union and Capital Markets Union, while speaking at the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels.

Randal Quarles of FED on Finding Balance in Cross-Border Resolution

While speaking at the Harvard Law School in Cambridge, Randal K. Quarles outlined the U.S. approach to the cross-border resolution framework and examined the potential for adjustments for the current regime.

FINMA Amends Financial Market Infrastructure Ordinance

FINMA introduced a clearing obligation for standardized interest-rate and credit derivatives traded over the counter (OTC).

CSSF Updates Status of Probematic EBA Validation Rules for Reporting

CSSF updated the status of problematic EBA validation rules for reporting by the entities under its supervision. CSSF also updated the document on identification of reporting requirements and checks for level 2 completeness.

EC Issues Standards on Template for Use by MMF Managers for Reporting

EC published, in the Official Journal of the European Union, the Commission Implementing Regulation (EU) 2018/708.

IMF Paper Examines Interconnectedness of Global Financial System

IMF published a working paper that studies the interconnectedness of the global financial system and its susceptibility to shocks.

ESRB Paper Informs Policy Dialog on Bank Exposures to Sovereign Risk

The paper provides input into policy discussions by simulating reallocations of euro area banks’ sovereign bond holdings under new regulatory regimes.

Lael Brainard of FED Examines Lessons From Use of Financial Technology

The FED Governor Lael Brainard emphasized that FED will continue to evaluate developments in fintech and digital currencies through a multidisciplinary lens, while speaking at the Decoding Digital Currency Conference in San Francisco.

European Council Issues Presidency Compromise Text on PEPP Regulation

European Council published the Presidency compromise text for the proposal on the Pan-European Personal Pension Product (PEPP) regulation.

US Agencies Propose Revisions to Capital Rules to Phase in CECL

U.S. Agencies issued a joint proposal to address changes to the U.S. generally accepted accounting principles (GAAP) described in the Accounting Standards Update on Financial Instruments—Credit Losses (ASU 2016-13); the proposal covers implementation, by banking organizations, of the CECL methodology.

BCRA Updates Certain Prudential and Reporting Information for Banks

BCRA issued Circulars "A" 6502 and "A" 6509, which contain updates on the authorities of financial entities, minimum capital requirements, liquidity coverage ratio (LCR), net stable funding ratio (NSFR), and certain reporting information (including table of validation errors) for institutions.

BCBS Issues Framework for STC Short-Term Securitizations

BCBS issued the standard for capital treatment of simple, transparent, and comparable (STC) short-term securitizations.

EIOPA Launches the EU-Wide Insurance Stress Test for 2018

EIOPA launched the fourth stress test exercise for the insurance sector in Europe.

Yves Mersch of ECB Speaks About Regulating Virtual Currencies

Yves Mersch of ECB spoke at the 39th meeting of the Governor’s Club Bodrum in Turkey.

IMF Publishes Reports on the 2018 Article IV Consultation with Bahamas

IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Bahamas.

European Council Adopts Directive to Prevent Money Laundering in EU

The European Council adopted a directive strengthening EU rules to prevent money laundering and terrorist financing. The directive sets out to close down criminal finance without hindering the normal functioning of payment systems.

CSRC Amends Consultation on Rules for Issuance of Depository Receipts

CSRC amended its first draft consultation on the issuance and trading of China Depository Receipts.

FSB Issues Update on Meeting of Regional Consultative Group for Asia

FSB published an update on the meeting of its Regional Consultative Group (RCG) for Asia.

Mario Draghi of ECB on Completing Banking and Capital Markets Unions

While speaking at the European University Institute in Florence, the ECB President Mario Draghi emphasized the creation of a more stable financial sector by completing the banking union and the capital markets union.

EC Consults on Recent Amendments to the BCBS Basel III Framework

EC launched a consultation to seek input from stakeholders on the impact of recent amendments to the Basel III framework.

SEC Proposes Regulation Best Interest to Enhance Investor Protection

SEC voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers, while preserving access to a variety of types of advice relationships and investment products.

HKMA Guidelines on Credit Risk Management of Personal Lending Business

HKMA issued guidelines to banks on credit risk management for personal lending business.

Bundesbank Issues List of Deactivated Validation Rules for Reporting

Deutsche Bundesbank updated the list of reporting validation rules, which have additionally been identified as defective from the national point of view, from Annex XV of the EBA implementing technical standards on supervisory reporting.

CPMI Publishes Strategy for Reducing Risk of Wholesale Payments

CPMI published a paper on the strategy for reducing the risk of wholesale payments fraud related to endpoint security. The strategy is composed of seven elements that work holistically to address all areas relevant to preventing, detecting, responding to, and communicating about fraud.

BDE Updates Technical Instructions for Financial Reporting by Banks

BDE published technical instructions on rules for the presentation and telematic transmission of financial statements of credit institutions, according to the specified eXtensible Business Reporting Language (XBRL) standard and other financial documentation.

Central Bank of Ireland Issues Credit Data Templates Under AnaCredit

The Central Bank of Ireland published documents related to the reporting of credit data under the AnaCredit Regulation.

FSB Consults on Recommendations for Compensation Data Reporting

FSB launched a consultation on the recommendations for consistent national reporting of data on the use of compensation tools to address misconduct risk.

ESRB Updates the Overview of National Macro-Prudential Measures in EU

ESRB has updated its overview of national measures of macro-prudential interest in the EU and the European Economic Area.

EBA Welcomes the EC Call for Advice on Basel III Implementation in EU

EBA welcomed the call for advice by EC on the implementation of Basel III framework, which BCBS had finalized in December 2017.

ESMA Offers Company Portal Listing Service Providers Authorized in EU

ESMA has compiled a new companies’ portal for investors seeking information on whether a financial service provider is authorized in the EU.

APRA to Finalize Design of the New Data Collection Solution This Year

APRA had commenced a major data transformation program to keep pace with the advancements in data, analytics, and technology. In December of last year, APRA had announced its decision to replace the data collection tool, Direct to APRA (D2A), with a new Data Collection Solution.

BoM Updates Template Related to Standardized Approach to Credit Risk

BoM updated the return CAR0100 titled "Statement of Capital Adequacy Calculation."

FSB Issues Updates on Meetings of RCGs for Sub-Saharan Africa and MENA

FSB published the meeting updates of its Regional Consultative Groups (RCGs) for Sub-Saharan Africa and the Middle East and North Africa (MENA).

ESAs Consult on Amendments to Joint EMIR Standards

ESAs launched two joint consultations to amend regulatory technical standards on the clearing obligation and risk mitigation techniques for uncleared OTC derivatives.

EBA Publishes Results of the 2016 CVA Risk Monitoring Exercise

EBA published a report on its 2016 credit valuation adjustment (CVA) risk monitoring exercise.

OSFI Advises on IFRS 17 Transition and Progress Report Requirements

OSFI issued and advisory for the federally regulated insurers and insurance holding companies (FRIs) to support their transition to IFRS 17 Insurance Contracts Standard (IFRS 17).

CBIRC Finalizes Measures for Managing Large Exposures of Banks

CBIRC issued rules for the management of large-scale exposures of commercial banks, with July 01, 2018 as the effective date.

HKMA Announces Publication of BDAR 2018 into the Gazette

HKMA announced that the Banking (Disclosure) (Amendment) Rules 2018 (BDAR 2018) and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 (Amendment Notice 2018) were published in the Gazette.

Sabine Lautenschläger of ECB on Risk Reduction in the Euro Area

Sabine Lautenschläger of ECB examined the role of the European banking union in risk reduction in the euro area. She highlighted the need for a harmonized regulatory framework to "reap the full benefits of the banking union."

Bundesbank Updates XML Schema for Securities Investments Statistics

Deutsche Bundesbank published the XML format description for securities investments statistics.

CSRC Consults on Rules on the Issuance of China Depository Receipts

CSRC issued draft rules on the issuance and trading of China Depository Receipts. The regulatory requirements and the basic rights and obligations of the participating entities provide an institutional basis for the innovative enterprises to return to the domestic capital market through the issuance of depository receipts.

Randal Quarles of FED Speaks on Impact of LCR on FED Balance Sheet

Randal K Quarles of the FED spoke at the Hoover Institution Monetary Policy Conference in Stanford, California. He examined the impact of liquidity coverage ratio (LCR) requirements on the FED balance sheet.

BCL Updates Phase 2 Testing Timeline for AnaCredit Reporting

BCL updated instructions, validation rules, and list of agents for AnaCredit reporting. The second test phase will now run from June 01, 2018 to July 31, 2018 and will only concern credit data.

BoE Consults on Working Draft of Standalone MREL Reporting Taxonomy

BoE published a public working draft of the standalone minimum requirement for own funds and eligible liabilities (MREL) reporting taxonomy, along with the related technical artefacts.

ECB Publishes the Annual Report on Financial Integration in Europe

ECB released its annual report on financial integration in Europe, at a joint conference with EC in Frankfurt. The report contributes to the advancement of the financial integration process in Europe by analyzing the relevant developments and policies.

EC Issues Report on Financial Stability and Integration in Europe

EC published a report on the results of the annual European financial stability and integration review. The report analyzes the recent economic and financial developments in the EU, along with their impact on financial stability and integration.

SNB Updates Reporting Form for Short-Term Liquidity Coverage Ratio

SNB updated the reporting form for Liquidity Coverage Ratio (with Facilitation) for branches of foreign banks.

CBB Amends Forms PIR and PIRI to Include IFRS9 and FAS30 Requirements

CBB amended the Form Prudential Information Report (PIR) for conventional banks and Form Prudential Information Returns for Islamic Banks (PIRI).

ECB Publishes Framework for Testing Resilience to Cyber Attacks

ECB published the European framework for Threat Intelligence-Based Ethical Red Teaming (TIBER-EU).

ESMA Launches Bond Liquidity System Under MiFID II

ESMA published its first liquidity assessment for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

LEIROC Publishes Progress Report on GLEIS and Regulatory Uses of LEI

LEIROC published its second progress report on Global Legal Entity Identifier System (GLEIS) and the regulatory uses of Legal Entity Identifier (LEI).

Ignazio Angeloni of ECB Speaks on Banking Supervision

Ignazio Angeloni of ECB spoke about ECB Banking Supervision at the Financial Times–Fitch Global Banking Conference in London. He described the accomplishments of ECB Banking Supervision, pointed out the missing or incomplete elements, and examined the challenges and developments that lie ahead.

MAS Responds to Consultation on Mandatory Clearing of OTC Derivatives

MAS published a response to the feedback received on draft regulations for mandatory clearing of derivatives contracts. MAS will require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs) with effect from October 01, 2018.

FED Publishes OMB Supporting Statement on FFIEC 031, 041, 051 and 016

FED published OMB supporting statement for Call Reports FFIEC 031, FFIEC 041, and FFIEC 051, in addition to the supporting statement for FFIEC 016.

APRA Chair Speaks on Realizing Benefits of BEAR Beyond the Necessities

The APRA Chairman Wayne Byres spoke at the UNSW Center for Law Markets and Regulation Seminar in Sydney. He discussed the five main elements to the Banking Executive Accountability Regime (BEAR): registration, obligations, accountabilities, remuneration, and sanctions.

IMF Publishes Reports on the 2018 Article IV Consultation with Israel

IMF published its staff report and selected issues report after concluding the 2018 Article IV consultation with Israel.

FED Proposes to Revise and Extend Form FR Y-9C for Three Years

FED proposed to extend for three years, with revision, the mandatory FR Y-9 family of reports on financial statements for holding companies.

IASB Issued Work Plan and Meeting Updates for April 2018

IASB published an updated work plan, along with the update of its meeting in April 2018.

PRA Publishes Updates on Groups Policy and Double Leverage

PRA published the policy statement PS9/18, which provides feedback on responses to the consultation paper CP19/17 on groups policy and double leverage.

PRA Issues Final Policy on Updates to Pillar 2 Reporting Requirements

PRA published the final policy statement PS8/18 on Pillar 2 reporting requirements.

PRA Publishes Model Risk Management Principles for Stress Testing

PRA published the policy statement PS7/18, which provides feedback to responses to the consultation paper CP26/17 on model risk management principles for stress testing.

FHFA Order on Stress Testing Result Reporting by Regulated Entities

FHFA issued Orders, dated March 01, 2018, with respect to stress test reporting as of December 31, 2017, under section 165(i)(2) of the Dodd-Frank Act. Summary instructions and guidance had accompanied the Orders to provide testing scenarios.

OJK Proposes Guidelines to Measure Interest Rate Risk in Banking Book

OJK issued a consultation on the guidelines for measurement and calculation of interest rate risk in the banking book (IRRBB) for commercial banks. OJK also provided tables containing the reporting requirements. Comments are due by May 14, 2018.

ECB Article on Systemic Importance of SSM Significant Institutions

ECB published an article that uses large exposure data to gauge the systemic importance of single supervisory mechanism (SSM) significant institutions.

IMF Publishes Report on the 2018 Article IV Consultation with Turkey

IMF published its staff report in the context of the 2018 Article IV consultation with Turkey.

IMF Paper on Results of Annual Macro-Prudential Survey

IMF published a paper that summarizes the results of its annual survey on the macro-prudential policy in member countries.

EBA Single Rulebook Q&A: Fourth Update for April 2018

This week, the Question and Answer (Q&A) updates on Single Rulebook include seven items related to liquidity risk and own funds under the Capital Requirements Regulation (CRR).

BaFin on FINREP 2.7 Forms for National GAAP Reporting for Solvency II

BaFin, the Federal Financial Supervisory Authority of Germany, published FINREP 2.7 forms for national GAAP reporting under the Solvency II reporting and disclosure requirements. BaFin also updated regulation on the reporting of insurance companies to the Federal Financial Supervisory Authority.

EBA Proposes Guidelines on Disclosure of Non-Performing Exposures

EBA proposed guidelines on disclosure of information on non-performing exposures (NPEs) and forborne exposures.

EC and European Stability Mechanism Lay Down Principles of Cooperation

EC and the European Stability Mechanism (ESM) are expected to sign a Memorandum of Understanding on the working relationship between the two institutions.

ECB and BoE Convene Technical Working Group on Risks Related to Brexit

ECB and BoE will convene a technical working group on risk management around March 30, 2019 in the area of financial services.

ECB Publishes Article on Targeted Review of Macro-Prudential Framework

ECB published an article that explains the key messages of ECB on the EC proposals that important for macro-prudential regulation and policy.

ESRB Updates the Overview of National Capital-Based Measures in EU

ESRB has updated its overview of national capital-based measures in the EU and the European Economic Area.

CBIRC to Speed Opening Up of Banking and Insurance Sectors

CBIRC intends to speed up the implementation of banking and insurance industry's opening to the outside world.

FSB Issues Second Consultation on UPI Governance Arrangements

FSB published a second consultation on the proposed governance arrangements for the unique product identifier (UPI).

BoE Publishes Version 3.0.0 of the XBRL Taxonomy for Banks

BoE published v1.0.1 of the financial statements XBRL utility that contains a fix for the commonly reported bug in v1.0.0, where the incorrect firm reference number (FRN) was being entered into the XBRL code.

CFTC Publishes Paper Analyzing Implementation of Swaps Reform

CFTC published whitepaper on swaps regulation, which the CFTC Chairman J. Christopher Giancarlo co-authored with CFTC Chief Economist Bruce Tuckman. Mr. Giancarlo unveiled the white paper at the annual meeting of International Swaps and Derivatives Association (ISDA).

Elke König of SRB on Completing the Banking Union

The SRB Chair Elke König published an article on the completion of Banking Union. In the article, she emphasized that we should take a step back and identify further elements, which impede the completion of a full-fledged Banking Union.

Elke König of SRB Publishes Article on the Way Forward with MREL

SRB published an article by Elke König in which she discussed the way forward with minimum requirement for own funds and eligible liabilities (MREL).

Dietrich Domanski of FSB Offers Updates on Planned Work for 2018

The FSB Secretary General Dietrich Domanski updated the audience on the planned work of FSB for 2018, while speaking at the Eurofi Seminar in Sofia.

Andrew Bailey of FCA Offers Regulatory Take on Asset Management Sector

Andrew Bailey of FCA offered a regulatory perspective on the asset management sector, while speaking at the London Business School Annual Asset Management Conference.

FED Proposes Simplification to Capital Rules for Large Banks

FED seeks comment on proposal to simplify its capital rules for large banks, while preserving strong capital levels that would maintain the ability to lend under stressful conditions.

ESRB Reviews Macro-Prudential Policy in the EU in 2017

ESRB published a report on the review of the macro-prudential measures adopted in EU in 2017.

EC Outlines Approach to Set Guidelines for Artificial Intelligence

EC outlined an approach to artificial intelligence (AI) and robotics.

EC Amends Implementing Regulations on Credit Risk Assessments of ECAIs

EC published, in the Official Journal of European Union, the amended level 2 measures regarding credit risk assessments of external credit assessment institutions (ECAIs) under the Capital Requirements Regulation (CRR or EU Regulation No 575/2013) and the Solvency II Directive.

William Coen of BCBS Discusses Progress on Market Risk Framework

During the keynote speech at the ISDA Annual General Meeting, William Coen, the Secretary General of BCBS, discussed the market risk framework, which is the one element of the post-crisis reform agenda has yet to be fully finalized.

OCC Consults on Information Collection on Credit Risk Retention

OCC is soliciting comment concerning the renewal of its information collection titled “Credit Risk Retention.” OCC is also giving notice that it has sent the collection to OMB for review. Comments are to be submitted by May 25, 2018.

FSB Article on Achieving G20 Goal of Resilient Market-Based Finance

FSB published an article by the Secretary General Dietrich Domanski on achieving the G20 goal of resilient market-based finance.

NCUA Amends Regulations on Capital Planning and Stress Testing

The NCUA Board issued the final rule to amend its regulations on capital planning and stress testing for federally insured credit unions with USD 10 billion or more in assets (also known as the covered credit unions).

IAIS Publishes Newsletter for April 2018

This issue highlights that IAIS held a public discussion session to provide background information on the resolution of comments received during the public consultation on ComFrame, answer stakeholder questions on the outcome of the consultation, and present the next steps in the development of ComFrame.

DNB Publishes Banking and Insurance Newsletters for April 2018

DNB issued the banking and insurance newsletters for April 2018. The newsletters include updated calendars for banks and insurers.

MAS Proposes Guidelines on Individual Accountability and Conduct

MAS proposed guidelines to strengthen individual accountability of senior managers and raise standards of conduct in financial institutions.

IMF Issues Reports on Financial Surveillance of West African EMU

IMF issued its staff report and selected issues report resulting from discussions with the regional institutions of the West African Economic and Monetary Union (WAEMU).

BDF Issues Framework for Financial Entities for AnaCredit Reporting

BDF published the framework of financial institutions and public administrators for AnaCredit reporting.

Bank of Italy Publishes Notification on AnaCredit Updates

Bank of Italy published a notification that it has updated certain documentation on the website for AnaCredit reporting.

EC Vice President Speaks on Completing CMU and Managing Brexit

While addressing the audience at City Week in London, the EC Vice President Valdis Dombrovskis offered a snapshot of the work of EC toward breaking down barriers and further integrating the EU single market for capital.

IOSCO Consults on Good Practices for Supporting Audit Quality

IOSCO published a consultation report on good practices for audit committees in supporting audit quality. The report is intended to assist audit committees of issuers of listed securities in promoting and supporting audit quality.

US Treasury Report Highlights Regulatory Reform Accomplishments

The U.S. Treasury Department released a report detailing its accomplishments in support of the President’s regulatory reform agenda.

CBB Proposes New Rulebook Modules for Conventional and Islamic Banks

CBB is proposing new risk management related modules to the Rulebook Volumes 1 and 2, along with additional requirements to an existing High-Level Controls Module (Module HC).

APRA Publishes Final Standards on Counterparty Credit Risk for Banks

APRA published the final prudential and reporting standards related to counterparty credit risk for authorized deposit-taking institutions.

BCBS Issues Fourteenth Progress Report on Adoption of Basel III

BCBS published the fourteenth progress report on adoption of the Basel III regulatory framework.

EIOPA Publishes Its Supervisory Convergence Plan for 2018–2019

EIOPA published its supervisory convergence plan for 2018-2019 for the insurance sector. The focus is on the implementation of Solvency II and conduct of business supervision.

Elke König of SRB Speaks on Making Every Bank Resolvable in EU

The SRB Chair Elke König spoke about the experience, at the SRB, in working on banking resolution, while addressing the audience at the Institute for Law and Finance on the Westend Campus of Goethe University in Frankfurt.

ESRB Paper Examining Survey Responses of Banks and Insurers to Stress

ESRB published an occasional paper that shows results from the ESRB surveys of the responses of banks and insurance companies to stress tests. The paper describes the surveys and their insights regarding potential adverse feedback loops.

US Treasury Extends Compliance Dates for QFC Recordkeeping Requirement

The U.S. Department of the Treasury is adopting a final rule that extends the compliance dates of the regulation implementing the qualified financial contract (QFC) recordkeeping requirements related to Orderly Liquidation Authority under the Dodd-Frank Act.

Benoît Cœuré of ECB Speaks on a Cooperative Approach to CCP Resolution

Benoît Cœuré of ECB spoke at the ILF Conference on “Resolution in Europe: the unresolved questions” in Frankfurt.

APRA Publishes List of D2A Validation Rules for Banks and Insurers

APRA published a list of the latest Direct to APRA (D2A) validation rules for authorized deposit-taking institutions and insurers.

BCBS Updates FAQ and Workbook on Basel III Monitoring

BCBS updated the list of frequently asked questions (FAQ) and the workbook (version 3.7.5) on Basel III monitoring for the collection of December 2017 data.

EBA Single Rulebook Q&A: Third Update for April 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A).

FSB Publishes Toolkit to Mitigate Misconduct Risk

FSB published a report that presents a toolkit for firms and supervisors to strengthen the governance frameworks to mitigate misconduct risk.

EBA Proposes Guidelines for Interpreting STS Securitization Criteria

EBA launched a public consultation on the draft guidelines that will provide a harmonized interpretation of the criteria for a securitization to be eligible as simple, transparent, and standardized (STS).

PRA Consults on Internal Model Output Reporting Under Solvency II

PRA published the consultation paper CP10/18, which proposes updates to the internal model output reporting by updating the supervisory statements SS25/15 and SS26/15.

William Dudley of New York Fed Examines Incentives for Bank Resilience

William C Dudley, the President and CEO of the New York Fed, spoke at the U.S. Chamber of Commerce in Washington DC. He discussed financial regulation and the ways in which proper incentives help ensure resilience in the financial system.

European Parliament Adopts EC Proposal on the Fifth AML Directive

European Parliament adopted the EC proposal on the fifth Anti-Money Laundering (AML) Directive.

FED Governor Speaks on Remaining Regulatory Work for Financial Sector

The FED Governor Lael Brainard spoke, at the Global Finance Forum in Washington, D.C., about safeguarding financial resilience through the current economic cycle.

Andreas Dombret of Bundesbank on Impact of Brexit on Global Finance

Dr. Andreas Dombret of Deutsche Bundesbank spoke at the 2018 Europe-U.S. Symposium of the Harvard Law School Program on International Financial Systems in New York.

Ed Sibley of Central Bank of Ireland on Impact of Brexit

Ed Sibley, Deputy Governor (Prudential Regulation) of the Central Bank of Ireland, addressed the DCU Brexit Institute in Dublin on April 12, 2018.

EIOPA Publishes Report on Oversight Activities in 2017

EIOPA published a report on its oversight activities in 2017. The report, which is addressed to the European Parliament, describes the activities of EIOPA during the year, explains its approach to oversight, and outlines the priorities for 2018.

EIOPA Q&A on Regulations: First Update for April 2018

EIOPA published new sets of questions and answers (Q&A) on guidelines, implementing regulations, and delegating regulations that are applicable to insurers in Europe.

MAS Issues Guide to Conduct and Market Practices for Wholesale Markets

MAS published a guide to conduct and market practices for wholesale financial markets, along with the FAQs on this guide.

ESMA Updates Bond Transparency Calculations for MiFID II and MiFIR

ESMA updated the MiFID II and MiFIR transitional transparency calculations (TTC) for bonds.

OSFI Issues Final TLAC Guideline and Revises CAR Guideline for Banks

OSFI released its final Total Loss Absorbing Capacity (TLAC) guideline for the domestic systemically important banks (D-SIBs) in Canada.

Superintendent of OSFI Speaks on Covered Bonds Framework in Canada

The OSFI Superintendent Jeremy Rudin addressed the European Covered Bond Council about the role of OSFI in supporting the integrity of the covered bonds framework in Canada.

Dubai FSA Issues Second Consultation on Changes to AML Regime

Dubai FSA launched the second phase of its consultation process that proposes changes (via CP120) to the Anti Money Laundering, Counter-terrorist Financing, and Sanctions (AML) Module of its Rulebook.

EBA Proposes Guidelines for Exposures to be Associated with High Risk

EBA launched a consultation on the guidelines about the types of exposures that are to be associated with high risk under the Capital Requirements Regulation (CRR).

EBA Issues Reporting Framework Version 2.8

EBA published amendments to the implementing technical standards on supervisory reporting and new implementing technical standards on reporting for resolution plans, along with the corresponding Data Point Model (DPM) and eXtensible Business Reporting Language (XBRL) taxonomy.

SRB Statement on Cooperation with EBA on 2019 Resolution Reporting

SRB announced that it has cooperated closely with EBA regarding the reporting on resolution as of 2019, in particular for the Liability Data Report (LDR).

Randal Quarles of FED on Simplifying and Enhancing Financial Rules

Randal K. Quarles, Vice Chairman for Supervision of the FED, testified before the Committee on Financial Services, U.S. House of Representatives in Washington, D.C.

FSI Update on Second High-Level Meet of Insurers in Dominican Republic

The Dominican Republic's regulatory authority for insurance hosted the Second High-level Meeting in Santo Domingo.

EBA Single Rulebook Q&A: Second Update for April 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A). The answer addressed a question on the credit claims in liquidity stress test buffer.

ESMA Introduces Its Approach for Analyzing Operational Risk

ESMA published an article on its approach toward the assessment of operational risk in its first Trends, Risks, Vulnerabilities (TRV) Report in 2018.

Bank of Italy Publishes Version 1.1 of Handbook on AnaCredit Reporting

Bank of Italy published Version 1.1 of the handbook on AnaCredit reporting. It also published a list of intermediaries reporting monthly, a list of banks reporting quarterly, and a list of banks exempted from reporting.

ACPR Updates Taxonomic Controls Related to Taxonomy RAN 1.1.0

ACPR published a new version of the file "Taxonomic controls" related to the Taxonomy RAN Version 1.1.0 for Solvency II reporting.

ECB Publishes Version 1.1 of AnaCredit Validation Checks

ECB published Version 1.1 of the AnaCredit validation checks. This document supplements the AnaCredit reporting manual by explaining the main set of validation checks that will be performed to ensure that the quality of data is satisfactory.

ESAs Issue Report on Risks and Vulnerabilities in EU Financial System

ESAs published a joint committee report on risks and vulnerabilities in the EU financial system.

FED Updates the Reporting Instructions for FR Y-15 and FR Y-14A/Q

Among the FED information collections that have been under review, FED updated the reporting instructions for form FR Y-15, which is the banking organization systemic risk report.

CBE Publishes Q&A on the Pre-Implementation of IFRS 9

CBE published a set of questions and answers (Q&A) on the pre-implementation of IFRS 9.

PRA Issues Letter on Capital Extractions by Insurance Firms in Run-Off

PRA published a letter to CEOs of insurance firms in run-off, reminding them that they should closely consider the supervisory statement SS4/14 on capital extractions by run-off firms within the general insurance sector when preparing a request for capital extraction for submission to PRA.

BaFin Publishes Its Priorities on Insurance Supervision for 2018

BaFin published its priorities on insurance supervision for 2018. The insurance supervisory authority sets its priorities annually for the effective and efficient use of resources, in particular in the interests of risk-oriented supervision.

ECB Publishes A Paper Examining the European Deposit Insurance Scheme

ECB published an occasional paper that investigates the potential impact and appropriateness of several features of the European Deposit Insurance Scheme (EDIS) in the steady state.

ESMA Publishes Responses to its Consultations on Securitization

ESMA published the responses received to its three consultations on securitization. These consultations are on disclosure and operational standards; simple, transparent, and standardized (STS) notification; and third-party firms providing STS verification services.

FED and OCC Propose to Further Tailor eSLR Requirements for G-SIBs

FED and OCC proposed a rule that would further tailor leverage ratio requirements to the business activities and risk profiles of the largest domestic firms.

EC Issues Draft Report on Proposal Amending CRR and MiFIR

EC issued a draft report on the proposal for a regulation on the prudential requirements of investment firms and amending Capital Requirements Regulation or CRR (No 575/2013), Markets in Financial Instruments Regulation or MiFIR (No 600/2014), and Regulation No 1093/2010.

Pentti Hakkarainen of ECB on Importance of Implementing EDIS in EU

Pentti Hakkarainen of ECB spoke, at the European Bank Executive Committee Forum organized by BNP Paribas in Brussels, about how the euro area and the Banking Union are helping to facilitate financial integration.

PRA Consults on Audit of Public Disclosure Requirement for Solvency II

PRA published the consultation paper CP8/18 related to the external audit of the public disclosure requirement under Solvency II.

PRA Consults on Modeling of Volatility Adjustment for Solvency II

PRA published the consultation paper CP9/18, titled “Solvency II: Internal models – modeling of the volatility adjustment.” CP9/18 sets out the PRA proposal to consider applications from internal model firms that include a dynamic volatility adjustment (DVA).

CPMI-IOSCO Publish Framework for Supervisory Stress Testing of CCPs

CPMI and IOSCO published the framework for supervisory stress testing of central counterparties (CCPs).

Danièle Nouy of ECB on Improving Risk Appetite Frameworks of Banks

Danièle Nouy of ECB spoke at the International Conference on Banks’ Risk Appetite Frameworks in Ljubljana. She defined the risk appetite framework and explained how to judge the quality of risk appetite frameworks.

EBA Report on Benchmarking of Remuneration Practices in EU Banks

EBA published its report on benchmarking of remuneration practices in EU banks for 2015 and 2016 (financial years) and high earners data for 2016.

EBA Updates List of Correlated Currencies

EBA updated the list of closely correlated currencies that was originally published in December 2013 and updated in October 2016.

ECB Consults on Cyber Resilience Oversight Expectations for FMIs

ECB launched a public consultation on the draft expectations for cyber resilience oversight for financial market infrastructures.

EC Held Digital Day 2018 to Build a Strong Digital Single Market

EC held Digital Day 2018 and brought together ministers, representatives of EU countries, industry, academia, and civil society representatives to encourage cooperation in artificial intelligence, blockchain, eHealth, and innovation.

ESMA Invites EC to Clarify Ancillary Activity Test Under MiFID II

ESMA wrote a letter inviting EC to provide further guidance on how the ancillary activity criteria set out in Article 2(4) of the Markets in Financial Instruments Directive, and further specified in RTS 20, are to be interpreted and implemented—and more specifically at which level the ancillary tests should be performed.

FFIEC on Cyber Insurance and its Potential Role in Risk Management

FFIEC members (FED, CFPB, FDIC, NCUA, OCC, and State Liaison Committee) issued a joint statement to describe the matters that financial institutions should consider when determining whether to use cyber insurance as a component of their risk management programs.

FSI Paper on Identification and Measurement of Non-Performing Assets

FSI of BIS published a paper on the identification and measurement of non-performing assets (NPAs).

IMF Publishes Global Financial Stability Report in April 2018

The Global Financial Stability Report (GFSR) provides an assessment of the global financial system and markets and addresses the emerging market financing in a global context.

EC Adopts STS Securitization and ABCP Regulation Amending MMFR

EC adopted a Commission Delegated Regulation on simple, transparent, and standardized (STS) securitizations and asset-backed commercial papers (ABCPs), requirements for assets received as part of reverse repurchase agreements, and credit quality assessment methodologies.

China Banking Insurance Regulatory Commission Replaces CBRC and CIRC

The China Banking Insurance Regulatory Commission (CBIRC) has been formally listed and its website was launched on April 08, 2018.

CPMI-IOSCO Guidance on Harmonization of OTC Derivatives Data Elements

CPMI and IOSCO issued technical guidance to authorities on harmonized definitions, formats, and usage of a set of critical data elements for over-the-counter (OTC) derivative transactions reported to trade repositories, excluding the Unique Transaction Identifier (UTI) and the Unique Product Identifier (UPI).

ECB Publishes Its Annual Report for 2017

ECB published its annual report for 2017. The report covers the economic and financial developments, in addition to supervisory activities of ECB in 2017.

EC Issues Council Decision on Conclusion of EU-US Bilateral Agreement

EC published Council Decision (EU) 2018/539 on conclusion of the bilateral agreement between EU and the United States on prudential measures regarding insurance and reinsurance.

ESMA Agrees on Position Limits Under MiFID II

ESMA published three opinions on position limits regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II and MIFIR).

ESMA Publishes Calculations for the March Double Volume Cap

Within five working days of the end of the month, ESMA must publish the trading volumes and calculations regarding the double volume cap (DVC) under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

ESRB Updates Its Overview of National Macro-Prudential Measures in EU

ESRB updated its overview of the national measures of macro-prudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures, and various other measures.

FCA Publishes Its Business Plan for 2018-19

FCA published its business plan for 2018-19, setting out the key priorities for the coming year. Along with the business plan, FCA published a consultation paper on annual fees, its sector views, and a discussion paper on its evaluation framework.

MAS Consults on Capital Treatment of TLAC Holdings Under Notice 637

MAS issued a consultation paper on proposed regulatory capital treatment of banks’ holdings of TLAC liabilities under MAS Notice 637.

PRA Publishes Business Plan for 2018–19

PRA published its business plan for 2018–19. The business plan sets out the strategic goals, the workplan to deliver the strategic goals, and the PRA budget for the coming year.

BCL Updates Instructions and Other Documents for AnaCredit Reporting

BCL updated instructions, list of reporting agents, validation rules, and SDMX schemas, including technical specifications, cube structure, facets, and subdomains, for AnaCredit reporting.

EBA Single Rulebook Q&A: First Update for April 2018

This week, the Question and Answer (Q&A) updates on Single Rulebook include 13 items related to supervisory reporting and recovery and resolution.

FCA on Authorization for Firms Offering Cryptocurrency Derivatives

FCA issued a statement on the authorization requirement for firms offering cryptocurrency derivatives.

RBI Amends Its Comprehensive Guidelines on Derivatives

RBI issued modifications to its comprehensive guidelines on derivatives, with respect to the stand-alone plain vanilla forex options.

EBA Issues Updated Risk Dashboard for Fourth Quarter of 2017

EBA published the updated version of its Risk Dashboard, summarizing the main risks and vulnerabilities in the EU banking sector for the fourth quarter of 2017.

FCA Issues PS18/8 and CP18/9 on Remedies for Asset Management Market

FCA published the policy statement PS18/8 that sets out remedies for the concerns identified through its asset management market study.

FED Updates the Reporting Form and Instructions for FR Y-9C

Among the FED information collections that have been under review, FED updated the reporting form and instructions for FR Y-9C, which is the report on consolidated financial statements for holding companies.

IOSCO Issues Report on Improving Information on Corporate Bond Markets

IOSCO published the report offering recommendations to improve regulatory reporting and public transparency in the secondary corporate bond markets.

APRA Finds Room for Improvement in Executive Remuneration Practices

APRA released the results of a review of remuneration practices at large financial institutions. The findings reveal considerable room for improvement in the design and implementation of executive remuneration structures.

ECB Issues Opinion on Draft of a Securitization Framework in Cyprus

ECB issued an opinion on the draft law on securitization framework in Cyprus.

BDE Issues Instructions on Rules for Reporting of Financial Statements

BDE published technical instructions on rules for the presentation and telematic transmission of financial statements of credit institutions, according to the specified eXtensible Business Reporting Language (XBRL) standard and other financial documentation.

ESMA Publishes Annual Report of Enforcement Activities for 2017

ESMA publishes its 2017 annual report that provides an overview of the enforcement and regulatory activities of ESMA and the accounting enforcers in the EU, when examining compliance of financial information provided by issuers, under IFRS, in 2017.

ESMA Publishes Technical Advice Under the Prospectus Regulation

ESMA is publishing the first Part of its technical advice under the Prospectus Regulation.

IMF Issues Reports on the 2018 Article IV Consultation with Luxembourg

IMF published staff report and selected issues report in the context of the 2018 Article IV consultation with Luxembourg.

Lael Brainard of FED Offers Update on the Financial Stability Agenda

The FED Governor Lael Brainard provided an update on the financial stability agenda of FED in New York.

Dubai FSA Updates Rulebook and Sourcebook for Financial Institutions

Dubai FSA updated several modules of its Rulebook and Sourcebook for financial institutions.

CFPB Issues Semi-Annual Report Recommending Changes to Dodd-Frank Act

CFPB released its semi-annual report highlighting the work of CFPB from April 01, 2017 to September 30, 2017, the period before the President appointed Mick Mulvaney as Acting Director.

FDIC Proposes Revisions to the Stress Testing Regulation

FDIC is proposing several revisions to the stress testing regulation, which are consistent with the changes made by FED and OCC to their respective stress testing regulations.

IMF Issues Report on Financial Sector Stability Review of Costa Rica

IMF published the technical assistance report on the financial sector stability review (FSSR) of Costa Rica.

OCC Proposes to Renew Information Collection on Stress Testing

OCC is soliciting comments on the renewal of its information collection titled, “Guidance on Stress Testing for Banking Organizations with more than USD 10 Billion in Total Consolidated Assets.”

US Agencies Exempt Certain CRE Deals from Appraisal Requirements

US Agencies (FDIC, FED, and OCC) issued a final rule that increases the threshold for commercial real estate (CRE) transactions requiring an appraisal from USD 250,000 to USD 500,000.

IMF Issues Technical Note on Insurance Sector Regulation in India

IMF issued a technical note that provides an assessment of the recent development of regulation and supervision of the insurance sector in India.

US Agencies Finalize Revisions to Call Reports FFIEC 051, 041, and 031

US Agencies (OCC, FED, and FDIC) finalized additional burden-reducing revisions to FFIEC 051, FFIEC 041, and FFIEC 031—the three Consolidated Reports of Condition and Income (Call Reports).

BCBS Publishes Report on Frameworks for Early Supervisory Intervention

BCBS published a report presenting the findings of a range-of-practice study on how supervisors worldwide have adopted frameworks, processes, and tools to support early supervisory intervention.

OSFI Publishes Guideline on LICAT Public Disclosure Requirements

OSFI issued the final version of the guideline on Life Insurance Capital Adequacy Test (LICAT) public disclosure requirements.

PRA Publishes PS6/18 Containing Updated Statements SS13/13 and SS36/15

PRA published a policy statement PS6/18 that provides feedback to the responses to chapters 2 to 6, 9, and 10 of the PRA and FCA consultation paper CP18/17.

ESRB Publishes Paper on Indicators for Monitoring of CCPs in EU

ESRB, as part of its occasional paper series, published a paper examining the indicators for monitoring central counterparties (CCPs) in EU.

IMF Publishes Reports on the 2018 Article IV Consultation with Iran

IMF published staff report and selected issues reports in the context of the 2018 Article IV consultation with the Islamic Republic of Iran.

ACPR Updates Taxonomic Controls Concerning Taxonomy RAN 1.1.0

ACPR published a new version of the file "Taxonomic controls" related to the Taxonomy RAN Version 1.1.0 for Solvency II reporting.

Bundesbank Updates Credit Statistics Policy for AnaCredit Reporting

Deutsche Bundesbank published Version 2.0 of the Credit Statistics Policy for AnaCredit reporting.

Bundesbank Updates List of Disabled Validation Rules for Reporting

Deutsche Bundesbank updated the list of reporting validation rules that have additionally been identified as defective from the national point of view. EBA also provides a current list of incorrect validation rules on its website.

FINMA Revises Charts of Accounts for Collection of Supervisory Data

FINMA revised the chart of accounts on which the collection of supervisory data from insurance companies is based.

Central Bank of Ireland Consults on Amendments to UCITS Regulations

The Central Bank of Ireland is consulting (CP 119) on the amendments of its regulations on Undertakings for Collective Investment in Transferable Securities (UCITS). Comment period ends on June 29, 2018.

Bank of Finland Updates Validation Checks for AnaCredit Reporting

Bank of Finland updated documents related to AnaCredit reporting, including updated schema files (version 1.5) and validation checks for credit data collection (version 1.3).

BoE Issues Update on Regulatory Approach to Preparations for Brexit

BoE issued an update on the regulatory approach to preparations for the withdrawal of the UK from the EU (Brexit).

DNB Publishes Banking and Insurance Newsletters for March 2018

DNB issued the banking and insurance newsletters for March 2018.

ECB Consults on the First Part of Guide to Internal Models for Banks

ECB is consulting on the first chapter of the guide to internal models for the banks it directly supervises.

EIOPA Consults on Changes to Standards on Reporting and Disclosure

EIOPA published a consultation on corrections and amendments to the implementing technical standards on reporting and disclosure. EIOPA invites the interested stakeholders to provide inputs by May 11, 2018.

ESMA Issues Guidelines on Internalized Settlement Reporting Under CSDR

ESMA published its final guidelines on how to report internalized settlement under the Central Securities Depositories Regulation (CSDR).

ESMA Publishes Official Translations for Three Sets of CSDR Guidelines

ESMA published the official EU language versions of the three sets of guidelines under the Central Securities Depository Regulation (CSDR): guidelines on relevant currencies; guidelines on substantial importance of a Central Securities Depository (CSD); and guidelines on cooperation between authorities.

ESMA Updates Q&As on Prospectus Regulation and MiFID II/MiFIR

ESMA updated the question and answer (Q&A) document on issues related to the Prospectus Regulation. ESMA also updated Q&A on transparency and market structure issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

IMF Publishes Reports on the 2017 Article IV Consultation with Myanmar

IMF published staff report and selected issues report in the context of the 2017 Article IV consultation with Myanmar.

PRA Issues Approach to Branch Authorization and Supervision for Banks

PRA published a Policy Statement PS3/18 that provides feedback to the responses to CP29/17 on the approach to branch authorization and supervision for international banks.

OFR Issues Paper on the Financial System Vulnerabilities Monitor

OFR published a paper describing the purpose, construction, interpretation, and use of its Financial System Vulnerabilities Monitor.

PRA Approach to Branch Authorization and Supervision for Insurers

PRA published a Policy Statement PS4/18 that provides feedback to the responses to CP30/17 on the approach to branch authorization and supervision for international insurers.

IFSB Proposes Standards on Islamic Banking, Securities, and Insurance

IFSB issued three Exposure Drafts covering standards in Islamic banking, Islamic capital markets, and Islamic insurance (takāful) sectors.

BoE Undertakes Proof of Concept to Understand Renewed RTGS Service