Events listed in Banks
SR 23-7
ID 24592
The Federal Reserve has announced a new „Novel Activities Supervision Program“ (Program), which focuses on supervision and oversight of banking activities on „crypto-assets, distributed ledger technology (DLT), and complex, technology-driven partnerships with nonbanks“. The reasoning behind it is that while technology and innovation can benefit customers and be tailored-to their needs, it also can lead to thus far unknown risks and material losses. The ...
Loan Purchase Activities: Legal Lending Limit Guidance
ID 24589
The OCC has published guidance to banks regarding the applicability of the legal lending limit (LLL) to purchased loans. Under the current law, there are limits applied on credit institutions regarding the amount of loans and credit extensions per borrower (i.e. they are subject to LLL). The guidelines specify that „Aggregate exposures attributable to a single seller must be within the bank’s LLL“. According ...
Kolejne wydanie Metodyki oceny odpowiedniości członków organów podmiotów ...
ID 24588
KNF has issued a new version of the methodology for assessing the governing members‘ responsibilities of firms supervised by KNF. The new document has been enhanced by the following: 1. new market sector – TFI: the methodology now includes Module 3, which relates to the assessment of qualifications of governing members within a TFI. Module 3 stresses out topics for consideration: – the rule ...
The EBA’s recent mystery shopping exercise shows the value this tool adds to ...
ID 24587
EBA released a report detailing the outcomes of a mystery shopping exercise that focused on personal loans and payment accounts. The primary objective of this exercise was to augment the existing supervisory practices employed by NCAs with unique insights gained from mystery shopping. The aim was to address gaps and deficiencies in the oversight process that conventional methods might overlook. The report emphasized several ...
The EBA is collecting bank data on interest rate risk in the banking book
ID 24581
EBA announced its decision to conduct an ad-hoc data collection exercise related to IRRBB. The collected data will be obtained from institutions already participating in the QIS and will use templates outlined in the final draft of ITS for IRRBB reporting. This data collection, with a reference date of the end of 31 December 2023, aims to provide relevant regulatory authorities with timely information ...
EBA updates timeline for the implementation of the IRB roadmap and publishes its ...
ID 24580
EBA announced significant developments concerning the implementation of IRB model requirements, aimed at reducing compliance costs for financial institutions. The EBA introduced modifications to the IRB model roadmap to address portfolios no longer eligible for the AIRB approach under the final Basel III framework, which primarily applies to large corporations, institutions, and financial sector entities. In light of the forthcoming implementation of Basel III ...
[Open – closing date: 08 September 2023] Licensing exemptions for foreign ...
ID 24579
The Australian Government is seeking input from stakeholders on proposed legislation regarding licensing exemptions for FFSPs. The exposure draft legislation outlines four key exemptions: 1. Comparable Regulator Exemption: This exemption allows FFSPs regulated by comparable foreign regulators to provide financial services to wholesale clients in Australia without the need to hold an Australian financial services license. 2. Professional Investor Exemption: FFSPs operating fro ...
Consolidated assessment ratings | Mutual Evaluations of Benin, Buthan, Burkina ...
ID 24577
The FATF has published its latest updates to its Consolidated assessment ratings together with the publications of Mutual Evaluation Reports of Benin, Buthan, Burkina Faso, Brunei, Côte d’Ivoire, Laos & Liberia on progress in strengthening measures to tackle money laundering and terrorist financing. The updated Consolidated assessment ratings provide an **up-to-date overview of all assessed countries concerning the effectiveness and technical compliance with the ...
Cross-Agency Steering Group announces priorities to further strengthen Hong Kong’s ...
ID 24576
On August 7, 2023, the Securities and Futures Commission of Hong Kong, SFC, published a press statement to inform that the Green and Sustainable Finance Cross-Agency Steering Group in Hong Kong presented its main objectives to further foster sustainable finance and promote the city’s position as a sustainable finance hub. These objectives include the following: (1) Developing strong regulations aligned with global standards: The ...
CP23/17: Rules relating to Securitisation
ID 24574
In context with the draft Statutory Instrument (Draft SI) that introduces a new regulatory framework for securitisation, intended to replace the existing EU Retained Securitisation Regulation (UK SR) and associated legislation (please see EventID#22190 for details) and the related proposed changes, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have coordinated their approach to the replacement of relevant provisions, ensuring coherence in ...