General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
November 15, 2018

CBB announced the issuance of new leverage ratio requirements under Module CA (Part 3) for Islamic (Chapter CA-10) and conventional bank licensees (Chapter CA-15). The revised CA modules that would include the leverage ratio requirements shall be available under the CBB Rulebook Volumes 1 and 2. CBB also published several consultations related to open banking, Module FC, and requirements for payment service providers (PSPs).

The following proposals, with varying consultation periods have been published:

  • Open Banking—Under Volume 5, CBB proposed a new Module OB, along with amendments to the existing rules on ancillary service providers (Module AU), general requirements (Module GR), and CBB reporting requirements (Module BR). Under Volumes 1 and 2, CBB proposed amendments to Module GR, Chapter 6 on Open Banking. Additionally, under Volumes 1, 2, and 5, CBB proposed amendments to the glossary of defined terms (Appendix). These proposals are based on practices of some of the leading financial centers and emphasis has been placed on high level of security and controls, as this initiative will lead to connecting banks, financing companies, card companies, and other licensees to institutions defined in the draft rules as account information services providers and payment initiation service providers that would use open application program interfaces (Open APIs) to obtain access to customers' accounts on the basis of customers providing consent for such access. The consultation on these proposals closes on November 25, 2018.
  • Module FC for Volumes 1 to 6—CBB Rulebook Volumes 1 and 2 require all banks to submit a report on the quality of a licensee's anti-money laundering procedures, systems, and controls and compliance with the AML Law and Module FC. The report is to be submitted annually by the licensee's external auditor or a consultancy firm approved by CBB. CBB has noted that some of the reports that are prepared and submitted lack depth and/or consistency and reliability. As part of the objective to establish industry leading practices, CBB is proposing the introduction of a template for the preparation of such reports and the conduct of appropriate procedures to form the basis of such reports. For Volumes 1 and 2, CBB requests all licensees, audit firms, and interested parties to submit comments, including "nil" comments, by December 02, 2018. For Volumes 3, 4, 5, and 6, CBB requests comments by December 13, 2018.
  • Requirements for PSPs—CBB proposed additions to the requirements in the Authorization Module (Module AU) under Section AU-1.2 and the General Requirements Module (Module GR) under a new Chapter GR-5B in the CBB Rulebook Volume 5 for Ancillary Service Providers; this is to accommodate for general issues and security measures for the PSPs that will have their own cash dispensing machines (CDMs) or kiosks to enable cash withdrawal, as part of the Wage Protection System. CBB requests all PSPs to provide comments, including "nil" comments, on the proposals by December 12, 2018.

 

Related Links 

Keywords: Middle East and Africa, Bahrain, Banking, PMI, Capital Adequacy, Leverage Ratio, Islamic Banking, AML, Payment Service Providers, Reporting, CBB

Related Insights
News

FSB Report Examines Financial Stability Implications of Fintech

FSB published a report that assesses fintech-related market developments and their potential implications for financial stability.

February 14, 2019 WebPage Regulatory News
News

US Agencies Amend Regulatory Capital Rule to Allow Phase-In for CECL

US Agencies (FDIC, FED, and OCC) adopted the final rule to address changes to credit loss accounting under the U.S. generally accepted accounting principles; this includes banking organizations’ implementation of the current expected credit losses (CECL) methodology.

February 14, 2019 WebPage Regulatory News
News

OCC Consults on Company-Run Stress Test Requirements for Banks

OCC proposed amendments to its company-run stress testing requirements for national banks and Federal savings associations, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

February 12, 2019 WebPage Regulatory News
News

CFTC Extends Comment Periods for Trade Execution Requirement Proposals

CFTC announced that it is extending comment period for the proposed amendments related to the regulations on swap execution facilities (SEF) and trade execution requirement.

February 12, 2019 WebPage Regulatory News
News

OCC Proposes to Renew Information Collection Under Stress Test Rule

OCC is proposing to renew its information collection titled “Annual Stress Test Rule” (OMB Control No: 1557-0311). Comments must be received on or before March 13, 2019.

February 11, 2019 WebPage Regulatory News
News

OSFI Consults on NSFR Disclosure Requirements for D-SIBs

OSFI proposed the draft guideline on the net stable funding ratio (NSFR) disclosure requirements for domestic systemically important banks (D-SIBs).

February 11, 2019 WebPage Regulatory News
News

EC Amends Its Regulation to Clarify Impairment Requirements for IFRS 9

EC published the EU Regulation 2019/237 that amends Regulation (EC) No 1126/2008 adopting certain international accounting standards, in accordance with Regulation (EC) No 1606/2002 regarding International Accounting Standard (IAS) 28 on Investments in Associates and Joint Ventures.

February 11, 2019 WebPage Regulatory News
News

FSB Chair Randal Quarles Speaks About the Upcoming Work of FSB

While speaking at the BIS Special Governors Meeting in Hong Kong, Randal K. Quarles, the Chair of FSB and Vice Chair of FED, discussed his views on how the work of FSB must evolve and the key principles that, he believes, should inform that work.

February 10, 2019 WebPage Regulatory News
News

OSFI Proposes to Amend the Liquidity Adequacy Requirements for Banks

OSFI proposed revisions to the Liquidity Adequacy Requirements (LAR) Guideline for banks. OSFI published the proposed drafts (with proposed changes highlighted in yellow) of Chapters 1,2, 4, and 5 of the LAR guideline.

February 08, 2019 WebPage Regulatory News
News

HKMA Publishes FAQs on Local Implementation of IRRBB Framework

HKMA published the frequently asked questions (FAQs) related to the local implementation of the interest rate risk in the banking book (IRRBB).

February 08, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2593