Events listed in Banks
Code of Corporate Governance
ID 26485
The Monetary Authority of Singapore (MAS) has published a press release to inform of a revised „Practice Guidance“ to the Code of Corporate Governance. The guidance is aimed at assisting listed firms in Singapore develop adequate and good corporate governance standards within their entities. It supplements the Code of Corporate Governance in that it provides detailed guidance and illustrative examples as to how to ...
DNB handhaaft Contracyclische Kapitaalbuffer op 2 procent – december 2023
ID 26484
The Dutch Central Bank (DNB) published a news release stating to maintain the 2% countercyclical capital buffer (CCyB) unchanged, as no substantial changes in the risk environment appeared. The CCyB aims to enhance banks‘ resilience during economic downturns and facilitate lending to support the real economy and applies to domestic exposures, with a reciprocity requirement for foreign banks with exposures in the Netherlands. On ...
SR 23-11
ID 26482
In view of the finalization of the „access rule“ as regards access to FinCEN’s database on beneficial ownership information (BOI) (EventID 24631), several U.S. banking regulators, including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency, as well as FinCEN itself have published a joint ...
Managing cyber risk associated with third-party service providers (PDF File, 176.9 ...
ID 26481
With the rise in digitalisation in the banking industry, the usage of third-party service providers has risen as well, resulting in cyber attacks growing correlatively. Therefore, Raymond Chan, the Executive Director (Banking Supervision) of the HKMA, has drawn up a circular addressed at all Chief Executives of authorized institutions (AIs) with guidelines on how to handle cyber security when using third-party service providers, referring ...
Commission Delegated Directive (EU) 2023/2775 as regards the adjustments of the ...
ID 26479
New Commission Delegated Directive (EU) 2023/2775 as regards the thresholds of various indicators to define different sizes of undertakings and groups with respect to the Accounting Directive was published in the Official Journal (OJ) of the EU. Specifically, the new Delegated Directive modifies the Accounting Directive to define new thresholds in balance sheet total and net turnover for purposes of the definition of micro, ...
Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
ID 26477
The Bureau of Consumer Financial Protection has published in the Federal Register the asset size threshold adjustment outlined in regulation C with regard to loan data reporting requirements of financial institutions. In detail, (foreign) banks, savings associations, and credit unions must usually collect „data about their housing related lending activity“ if (a) they are located in metropolitan areas and (b) their total assets at ...
Consultation Paper on Proposed Changes to Complex Products Regime
ID 26476
On December 21, 2023, the Monetary Authority of Singapore, MAS, has launched a response paper to its public consultation on the complex product regime. Under the regime, all investment products are classified based on their characteristics in terms of risk as either „simple“ investment products, also called Excluded Investment Products (EIPs) or „complex“ investment products, also called Specified Investment Product (SIPs). Products classified as ...
Financial sanctions targets: list of all asset freeze targets
ID 26473
Following the publication of new sanction measures, a new consolidated version of the list containing the names of ALL parties currently subject to asset freezing measures in the UK as of December 21, 2023 was published by the Office of Financial Sanctions Implementation of the HM Treasury.
Medienmitteilung 15/2023
ID 26472
Das Vereinigte Königreich und die Schweiz haben das “Berne Financial Services Agreement“ unterzeichnet (siehe eventid=24460). Dieses wegweisende Abkommen, das auf gegenseitiger Anerkennung von Regulierungen basiert, legt die Grundlage für Marktöffnungsschritte in den Bereichen Banken- und Wertpapierdienstleistungen, Asset Management, Versicherungen und Börsen. Insbesondere für die Schweizer Banken, die einen bedeutenden Teil ihres grenzüberschreitenden Geschäfts m ...
Financial sanctions, Russia
ID 26471
The Office of Financial Sanctions Implementation (OFSI) has published a new Financial Sanctions Notice regarding sanctions measures with respect to persons and entities involved in or supportive of Russia’s action to destabilize Ukraine and threatening the sovereignty and independence of the country pursuant to Statutory Instrument SI 2019/855, the „Russia (Sanctions) (EU Exit) Regulations 2019“. Specifically, the OFSI informs that it has updated its ...