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Prudential Standard on Risk Management

APRA prudential standard on risk management for the banking and insurance industries

Australian Prudential Regulation Authority standard sets out key requirements of banks and insurance companies: i) maintain a risk management framework that is appropriate to the size, business mix and complexity of the institution or group; ii) maintain a board-approved risk appetite statement; iii) maintain a board-approved risk management strategy that describes the key elements of the risk management framework that give effect to the approach to managing risk; iv) maintain a board-approved business plan that sets out the approach for the implementation of the strategic objectives of the institution or group; v) maintain adequate resources to ensure compliance with this prudential standard; and vi) notify APRA of a significant breach of, or material deviation from, the risk management framework, or that the risk management framework does not adequately address a material risk.

Publisher: National Regulators Release date: Jul 2017 Country: Australia

Type: Standard

Topics: Risk management, Compliance function, Corporate governance

Sectors: Banking, Insurance

FX Global Code

Standard to promote effective functioning of wholesale foreign exchange markets

Global principles developed by central banks and market participants from around the world to promote effective functioning of wholesale foreign exchange markets. Code is organized around six principles: i) ethics; ii) governance; iii) information sharing; iv) execution; v) risk management and compliance; and vi) confirmation and settlement process.

Publisher: International Organizations Release date: May 2017

Type: Standard

Peer: Implementation of the FX Global Code in Hong Kong

Topics: Foreign exchange rate risk, Transparency and disclosure, Risk management, Corporate governance, Compliance function

Sectors: Banking, Insurance, Securities

Standards on Valuations in Resolution

EBA technical standards for the several valuations that are required under the BRRD

European Banking Authority final draft technical standards developed under the European Union's Bank Resolution and Recovery Directive (BRRD). The BRRD requires independent valuations to be carried out to inform the authorities's decisions for several purposes. Prior to resolution, valuations are required i) to assess whether the conditions for resolution or the write-down or conversion of capital instruments are met; and ii) to inform the choice of resolution action, the extent of any write-down or conversion of capital instruments, and other decisions on resolution implementation. After resolution, a valuation is required to determine whether an entity’s shareholders and/or creditors would have been better off in normal insolvency proceedings.

Publisher: Regional Standard-Setting Bodies Release date: May 2017

Type: Standard

Parent: Bank Recovery and Resolution Directive (BRRD)

Topics: Recovery and resolution

Sectors: Banking, Securities

Objectives and Principles of Securities Regulation

Internationally agreed standard for securities regulation issued by IOSCO

International Organization of Securities Commissions standard sets out 38 principles of securities regulation based on three objectives: i) protecting investors; ii) ensuring that markets are fair, efficient and transparent; and iii) reducing systemic risk. Principles are grouped into nine categories: i) relating to regulator; ii) self-regulation; iii) enforcement of securities regulation; iv) cooperation in regulation; v) issuers; vi) auditors, credit ratings agencies and other information service providers; vii) collective investment schemes; viii) market intermediaries; ix) secondary markets; and x) clearing and settlement.

Publisher: Global Standard-Setting Bodies Release date: May 2017

Type: Standard

Peer: Methodology for Assessing Implementation of the IOSCO Objectives and Principles of Securities Regulation

Topics: Supervisory framework

Sectors: Securities

Disclosure of Encumbered and Unencumbered Assets

EBA disclosure requirements to permit market participants to better assess banks' liquidity profiles

European Banking Authority standard sets out disclosure requirements for data on encumbered and unencumbered assets held and collateral received by a bank.

Publisher: Regional Standard-Setting Bodies Release date: Mar 2017

Type: Standard

Parent: Capital Requirements Regulation - CRR

Topics: Transparency and disclosure, Liquidity risk and rules

Sectors: Banking

Pillar 3 Disclosure Requirements - Consolidated and Enhanced Framework

BCBS consultation on a second phase of proposed enhancements to Pillar 3

Basel Committee on Banking Supervision consultation sets out second phase of review of Pillar 3 disclosure requirements under the Basel III reforms. Proposals include: i) consolidation of all existing BCBS disclosure requirements into the Pillar 3 framework; ii) introduction of a "dashboard" of banks' key prudential metrics; and iii) updates to reflect ongoing reforms to the regulatory framework, such as the total loss-absorbing capacity (TLAC) regime for global systemically important banks and BCBS' revised market risk framework.

Publisher: Global Standard-Setting Bodies Release date: Mar 2017

Type: Standard

Parent: Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems

Topics: Transparency and disclosure

Sectors: Banking

Regulatory Treatment of Accounting Provisions - Transitional Arrangements

BCBS consultation on regulatory treatment of accounting provisions as accounting standards bodies implement an expected credit loss framework

Basel Committee on Banking Supervision consultation on the phase-in arrangements for the regulatory treatment of accounting provisions under the Basel III capital framework as the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) move from an incurred credit loss to an expected credit loss (ECL) approach to accounting provisions for loan losses. The adoption of an ECL approach is expected to increase required accounting provisions, potentially significantly.

Publisher: Global Standard-Setting Bodies Release date: Mar 2017

Type: Standard

Parent: Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems

Topics: Accounting, actuarial and auditing , Credit risk, Capital adequacy

Sectors: Banking

Standardised Presentation Format of Insurance Product Information Documents

EIOPA standard format for non-life insurance product information disclosure

European Insurance and Occupational Pensions Authority standards on the presentation format of an Insurance Product Information Document (IPID). The IPID must be provided to customer prior to conclusion of a non-life insurance contract in accordance with provisions of the European Union's Insurance Distribution Directive (IDD). Purpose is to ensure that key information about non-life insurance products is presented to customer in standardized format so that they can understand the product offered, and compare between different products.

Publisher: Regional Standard-Setting Bodies Release date: Feb 2017

Type: Standard

Topics: Consumer education and protection, Transparency and disclosure

Sectors: Insurance

Application Paper on Approaches to Supervising the Conduct of Intermediaries

IAIS standard for supervision of intermediaries and implementation of Insurance Core Principles 18 and 19

International Association of Insurance Supervisors standard sets out approach for supervision of intermediaries and implementation of Insurance Core Principles (ICPs) 18 (Intermediaries) and 19 (Conduct of Business). Discusses different types of intermediaries and diversity of intermediation, supervision of intermediaries in context of the overall supervisory framework, and outlines supervisory requirements and approaches that promote good conduct of business by intermediaries with reference to ICPs 18 and 19.

Publisher: Global Standard-Setting Bodies Release date: Nov 2016

Type: Standard

Topics: Corporate governance, Conduct, Licensing

Sectors: Insurance

Key Attributes Assessment Methodology for the Banking Sector

FSB methodology for assessing implementation of Key Attributes of Effective Resolution Regimes

Financial Stability Board banking sector assessment methodology for the Key Attributes of Effective Resolution Regimes for Financial Institutions. Sets out essential critera to guide assessment of a jurisdiction's compliance with the Key Attributes.

Publisher: Global Standard-Setting Bodies Release date: Oct 2016

Type: Standard

Peer: Key Attributes of Effective Resolution Regimes for Financial Institutions

Topics: Crisis management and contingency planning, Recovery and resolution, Systemically important financial institutions (SIFIs), Cross-border cooperation

Sectors: Banking

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Resources

382 records

Prudential Standard on Risk Management

FX Global Code

Standards on Valuations in Resolution

Objectives and Principles of Securities Regulation

Disclosure of Encumbered and Unencumbered Assets

Pillar 3 Disclosure Requirements - Consolidated and Enhanced Framework

Regulatory Treatment of Accounting Provisions - Transitional Arrangements

Standardised Presentation Format of Insurance Product Information Documents

Application Paper on Approaches to Supervising the Conduct of Intermediaries

Key Attributes Assessment Methodology for the Banking Sector

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