Featured Product

    FSB Publishes Summary of Plenary Meeting in Paris

    November 07, 2019

    FSB published a summary of the Plenary meeting in Paris. At the meeting, the Plenary reviewed vulnerabilities in the global financial system, fintech developments (including developments in the crypto-asset markets), ongoing work of FSB, and the work program for 2020. The timelines for the publication of certain reports related to the ongoing FSB work were also announced.

    The following are the key highlights and conclusions of the meeting:

    • FSB plans to publish, by the end of the year, a report that assesses vulnerabilities associated with leveraged loans and collateralized loan obligations (CLOs).
    • Members reviewed progress on the development of a new surveillance framework and discussed the key parameters of the new framework, which FSB plans to complete in mid-2020.
    • FSB will publish a consultative report on regulatory issues of stablecoins in April 2020.
    • Members discussed the ongoing work on market developments and potential financial stability implications from the entry of bigtech firms into finance and from third-party dependencies in cloud services. FSB will publish initial reports on these key topics in the coming weeks.
    • The Plenary welcomed the completion of the final version of the holistic framework for assessment and mitigation of systemic risk in the insurance sector, which IAIS will publish next week, following an earlier stakeholder consultation. 
    • FSB work program for 2020 will be published toward the end of 2019 and the priorities of the work program include addressing new and emerging vulnerabilities in the financial system, harnessing the benefits of financial innovation while containing risks, finalizing and operationalizing post-crisis reforms, and monitoring the implementation and evaluating the effects of the reforms. 

     

    Related Link: Press Release

    Keywords: International, Banking, Insurance, Fintech, Collateralized Loan Obligations, Financial Stability, Systemic Risk, Work Program, IAIS, FSB

    Featured Experts
    Related Articles
    News

    EU Amends IFRS 9 Rule, Changes Concern Interest Rate Benchmark Reforms

    EU published Regulation 2020/34 regarding the International Accounting Standard (IAS) 39 and International Financial Reporting Standards (IFRS) 7 and 9.

    January 16, 2020 WebPage Regulatory News
    News

    FDIC and OCC Issue Statement on Heightened Cyber Security Risk

    In response to the heightened cyber-security risk facing the financial services industry and other critical business sectors, FDIC and OCC issued an interagency statement on heightened cyber-security risk.

    January 16, 2020 WebPage Regulatory News
    News

    BoE and FCA Outline Next Steps for LIBOR Transition in 2020

    BoE, FCA, and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents that outline the LIBOR transition priorities and milestones for 2020.

    January 16, 2020 WebPage Regulatory News
    News

    BCRA Updates Regulation on Capital Requirements and Information Regime

    BCRA updated the rules on minimum capital requirements for financial entities and on certain aspects of the information transparency regime for quarterly and annual supervision.

    January 16, 2020 WebPage Regulatory News
    News

    BIS to Expand Central Bank Membership

    BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities.

    January 14, 2020 WebPage Regulatory News
    News

    EIOPA Issues Technical Specifications for Market and Credit Risk Study

    EIOPA published the technical specifications, including instructions, for the market and credit risk modeling comparative study for year-end 2019.

    January 13, 2020 WebPage Regulatory News
    News

    FED Publishes FAQs on Tailoring Rules for Banks

    FED released a letter announcing the publication of an initial set of frequently asked questions (FAQs) in response to questions from institutions.

    January 13, 2020 WebPage Regulatory News
    News

    IA of Hong Kong Publishes Stress Testing Scenarios in Relation to ORSA

    IA of Hong Kong published the prescribed scenarios for stress and scenario testing to be used by the authorized insurers conducting general insurance business.

    January 13, 2020 WebPage Regulatory News
    News

    FDIC Letter on Submission of Call Reports by End of January 2020

    FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (Call Reports) for the December 31, 2019 report date must be submitted to the Central Data Repository of the relevant US agencies by January 30, 2020.

    January 13, 2020 WebPage Regulatory News
    News

    EBA Consults on Calculation of Own Funds Requirements for Market Risk

    EBA is consulting on the draft regulatory technical standards for calculation of the own funds requirements for market risk, under the standardized and internal model approaches of the Fundamental Review of the Trading Book (FRTB) framework.

    January 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4489