Banking

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Cyber Security: Managing the Breach

TC executive panel discusses ways to create cyber-resilient financial systems

Toronto Centre executive panel discussed existing regulations, guidance, supervisory practices, and industry standards as well as what needs to be done to create cyber-resilient financial systems.

Publisher: Toronto Centre Release date: Aug 2019

Type: TC Videos

Topics: Cyber risk, Operational risk

Sectors: Banking

Notice on Cyber Hygiene

MAS set of legally binding requirements regarding cyber hygiene

Monetary Authority of Singapore legally binding requirements to raise the cyber security standards and strengthen the cyber resilience of the financial sector. Financial institutions are required to comply with the following requirements: i) establish and implement robust security for IT systems; ii) ensure updates are applied to address system security flaws in a timely manner; iii) deploy security devices to restrict unauthorized network traffic; iv) implement measure to mitigate the risk of malware infection; v) secure the use of system accounts with special privileges to prevent unauthorized access; and vi) strengthen user authentication for critical systems as well as systems used to access customer information.

Publisher: National Regulators Release date: Aug 2019 Country: Singapore

Type: Law, Regulation and Policy

Topics: Cyber risk, Operational risk

Sectors: Banking

Turning Risk Assessments Into Supervisory Actions

TC note sets out framework for turning risk assessments into firm-specific supervisory programs

Toronto Centre Note sets out a framework for turning risk assessments into firm-specific supervisory programs. Key considerations include: i) decisions about the risks that should be followed up; ii) choice of supervisory approach to be adopted within the firm; iii) identifying stages of intervention; iv) intensiveness with which remediation will be followed up and monitored; and v) processes surrounding significant changes to supervisory programs.

Publisher: Toronto Centre Release date: Aug 2019

Type: TC Notes

Peer: Risk-Based Supervision , Implementing Risk Based Supervision: A Guide for Senior Managers , The Development and Use of Risk Based Assessment Frameworks

Topics: Risk-based supervision

Sectors: Banking

The Bank of England's Approach to Assessing Resolvability

New PRA Resolvability Assessment Framework is designed to make resolution more transparent, better understood and more successful

UK Prudential Regulation Authority Resolvability Assessment Framework has three main components: i) how the Bank of England will assess resolvability; ii) a new Resolution Assessment Part of the PRA Rulebook that requires major UK firms to perform an assessment of their preparations for resolution; and iii) the Bank's intention to make a public statement concerning the resolvability of each of the major UK firms.

Publisher: National Regulators Release date: Jul 2019 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Transparency and disclosure

Sectors: Banking

Climate Change: Issues for Banking Supervisors

TC note explores the possible supervisory and regulatory responses in the banking sector to climate change-related risks, and to climate change more generally

Toronto Centre Note discusses issues raised for banking supervisors by climate change. Two key issues are: i) physical, transitional and other risks arising from climate change are likely to have an adverse impact on the credit, market, operational, legal, reputational and strategic risks faced by banks; and ii) the banking sector is likely to play a key role in the financing of activities that will have an impact on climate change.

Publisher: Toronto Centre Release date: Jul 2019

Type: TC Notes

Topics: Climate change , Risk management

Sectors: Banking

FinTech Innovations

TC podcasts present regulatory and market perspectives on FinTech innovations in Australia

Toronto Centre set of three podcasts about FinTech innovations in Australia. Podcasts are: i) Introducing the Newest Technology to Capital Markets: The Regulator's Perspective; ii) Introducing the Newest Technology to Capital Markets: The Industry's Perspective; and iii) to Protect or to Foster Innovation: An Inside Look at a Regulator's Initiative to do Both.

Publisher: Toronto Centre Release date: Jul 2019 Country: Australia

Type: TC Videos

Topics: FinTech, Operational risk

Sectors: Banking

Resolution Assessment and Public Disclosure by Firms

PRA rules for large banks

UK Prudential Regulation Authority rules for large UK banks.

Publisher: National Regulators Release date: Jul 2019 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs)

Sectors: Banking

Capacity-Building Toolbox for Cybersecurity and Financial Organizations

Carnegie Endowment for International Peace short guides to cyber security

Carnegie Endowment for International Peace report sets out one-page guides detailing how institutions can enhance their own security as well as that of their customers and third parties, information about cyber incidents, and a comprehensive supplementary report.

Publisher: Others Release date: Jul 2019

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Operational risk

Sectors: Banking

Macroeconomic and Financial Stability: Impacts of Climate Change

Banque de France and NGFS report sets out distinctive characteristics of climate change

Banque de France and Network for Greening the Financial System report discusses: i) macroeconomics and climate change; ii) financial stability and climate change; iii) options for central banks and supervisors; and iv) key findings.

Publisher: National Regulators Release date: Jul 2019

Type: Consultative, discussion and issues paper

Topics: Climate change

Sectors: Banking

Terrorist Financing Risk Assessment Guidance

FATF report provides information for practitioners to consider when assessing terrorist financing risk at the jurisdictional leel

Financial Action Task Force report provides good approaches, relevant information and practical examples for practitioners to consider when assessing terrorist financing risk at the jurisdictional level. It covers key considerations when determining the relevant scope and governance of a terrorist financing risk assessment, and practical examples to overcome information sharing challenges related to terrorist financing and terrorism information.

Publisher: Global Standard-Setting Bodies Release date: Jul 2019

Type: Guideline

Peer: International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation

Topics: Money laundering and terrorist financing

Sectors: Banking

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Resources

382 records

Cyber Security: Managing the Breach

Notice on Cyber Hygiene

Turning Risk Assessments Into Supervisory Actions

The Bank of England's Approach to Assessing Resolvability

Climate Change: Issues for Banking Supervisors

FinTech Innovations

Resolution Assessment and Public Disclosure by Firms

Capacity-Building Toolbox for Cybersecurity and Financial Organizations

Macroeconomic and Financial Stability: Impacts of Climate Change

Terrorist Financing Risk Assessment Guidance

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