BoM became a member of the Groupe des Superviseurs Bancaires Francophones (GSBF), which aims to reinforce interaction and consultation process between French-speaking supervisors and the Basel Committee. GBSF also focuses on international reforms and on enabling members to elaborate strategies for optimal implementation. GSBF brings together banking supervisors from both the Basel Committee member and non-member jurisdictions; comprises 34 member jurisdictions across Europe, the Middle East, and Africa; and is managed by the General Secretariat of ACPR under the aegis of the BDF, which is the central bank of France. Through this membership, BoM expects to benefit from the experience of other jurisdictions in the areas of operational resilience of banks and financial institutions, sustainable finance and climate transition, and cyber risks.
Related Link: Press Release
Keywords: Europe, Middle East and Africa, France, Mauritius, Banking, GSBF, International Cooperation, Climate Change Risk, ESG, Sustainable Finance, Operational Resilience, ACPR, BDF, BOM
Dr. Denton provides industry leadership in the quantification of sustainability issues, climate risk, trade credit and emerging lending risks. His deep foundations in market and credit risk provide critical perspectives on how climate/sustainability risks can be measured, communicated and used to drive commercial opportunities, policy, strategy, and compliance. He supports corporate clients and financial institutions in leveraging Moody’s tools and capabilities to improve decision-making and compliance capabilities, with particular focus on the energy, agriculture and physical commodities industries.
Previous ArticleBCBS Takes Forward Evaluation of Basel III Regulatory Reforms
The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.