The Australian Prudential Regulation Authority (APRA) is consulting on a proposed standardization of quarterly reporting due dates for authorised deposit-taking institutions (ADIs). The proposed due date is 35 calendar
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Australia: Consultation on ISO 20022 migration for the Australian Payments System
The Reserve Bank of Australia and the Australian Payments Council have released for consultation, ISO 20022 Migration for the Australian Payments System – Responses and Options Paper (Responses and Options -
United States: Use of alternative data in credit underwriting
Four U.S. federal regulatory agencies have issued the “Interagency Statement on the Use of Alternative Data in Credit Underwriting.” Developed in response to a U.S. Government Accountability Office recommendation, -
Bank of Canada publishes Financial System Review for 2020
The Bank of Canada has published its Financial System Review (FSR) for 2020. The FSR focuses exclusively on COVID-19 impact on the Canadian financial system. It details the results -
European Banking Authority consults on its STS framework for synthetic securitization
The European Banking Authority has launched a public consultation on its proposals for a simple, transparent and standardized (STS) framework for synthetic securitization. The consultation paper examines the rationale
January 4, 2021
Canada: FINTRAC updates its Risk Assessment Guidance
FINTRAC has updated its Risk Assessment Guidance. The update covers legislative amendments from June 2017 and legislative amendments that will come into force on June 1, 2021. Further details are available here. Picture Credit: Pixabay North America
December 31, 2020
Central Bank of Egypt announces measures to offset the impact of COVID-19
The Central Bank of Egypt has introduced measures to offset the impact of COVID-19. These measures include: i) cutting interest rates; ii) deferring all credit dues for all customers for a period of 6 months; and iii) exempting banks for one year from calculating additional risk weights on total Africa
December 29, 2020
The PRA’s Approach to Supervising International Banks – Liquidity Reporting
The Prudential Regulation Authority (PRA) has published its updated supervisory statement on supervision of international banks. The statement outlines the PRA’s expectations for liquidity reporting by PRA-regulated UK branches of third-country, and non-EU European Economic Area, credit institutions and designated investment firms. Initially published in February 2017, the Europe
December 28, 2020
FINRA Sanctions Transamerica Financial Advisors, Inc.
FINRA announces Transamerica Financial Advisors, Inc. has agreed to pay approximately $4.4 million in restitution to approximately 2,400 customers for failing to supervise its registered representatives’ recommendations of three different products – variable annuities, mutual funds, and 529 plans. Further details are available here. Photo Credit: Pixabay North America
June 29, 2020
UK’s Climate Financial Risk Forum publishes guide on addressing climate-related risks
The Climate Financial Risk Forum has published a guide to help firms address climate-related financial risks. The guide provides recommendations on disclosure of climate-related financial risks; effective risk management; scenario analysis, and opportunities for innovation in the interest of consumers. Established in March 2019, the forum’s aim is Europe