Cross-border cooperation

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Global Financial Innovation Network (GFIN)

FCA consultation sets out plan for a new "global sandbox" to enable innovative firms to interact with regulators around the world

UK Financial Conduct Authority consultation to create a global sandbox or Global Financial Innovation Network (GFIN) to provide a more efficient way for innovative firms to interact with regulators. Three main functions of the proposed GFIN would be: i) to act as a network of regulators to collaborate and share experiences of innovation in respective markets, including emerging technologies and business models; ii) to provide a forum for joint policy work and discussions; and iii) to provide firms with an environment in which to trial cross-border solutions .

Publisher: National Regulators Release date: Aug 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Cross-border cooperation, FinTech, Financial inclusion

Sectors: Banking, Insurance, Securities

The Post-Crisis Challenges Facing Supervisors

TC note discusses how emerging markets can approach the implementation of post-crisis and other regulatory reforms

Toronto Centre Note discusses how emerging markets can approach implementation of recent regulatory reforms. Considers the challenges for supervisors stemming from more wide-ranging, robust and complex regulatory requirements, provides an overview of emerging risks and supervisory responses, and discusses the importance of supervisory cooperation. Identifies key challenges as: i) proportionate implementation of reforms; ii) tailoring regulation and supervision to emerging market economies; iii) maintaining a focus on fundamental issues such as credit and insurance underwriting risks; and iv) assessing emerging risks such as those arising from FinTech and cyber security.

Publisher: Toronto Centre Release date: Jul 2018

Type: TC Notes

Topics: Systemically important financial institutions (SIFIs), Cross-border cooperation, Risk-based supervision, Supervisory framework, FinTech

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Report on the Functioning of Supervisory Colleges in 2017

EBA report on accomplishments of 2017 Colleges Action Plan and key activities for 2018

European Banking Authority annual review assesses the work of key European Economic Area supervisory colleges in 2017, evaluates performance, and identifies key activities for 2018.

Publisher: Regional Standard-Setting Bodies Release date: Mar 2018

Type: Implementation

Parent: Bank Recovery and Resolution Directive (BRRD), Capital Requirements Directive - CRD IV

Peer: EBA Report on Convergence of Supervisory Practices

Topics: Cross-border cooperation, Financial conglomerates

Sectors: Banking

Cross-Border Retail Payments

CPMI report sets out improvements in infrastructure for cross-border retail payments

Committee on Payments and Market Infrastructure report analyzes cross-border retail payments by individuals and businesses and identifies issues and challenges. Draws on a survey of established and innovative providers of cross-border retail payment services around the world. Sets out scope for improvements in existing infrastructures.

Publisher: Global Standard-Setting Bodies Release date: Feb 2018

Type: Consultative, discussion and issues paper

Peer: Fast Payments - Enhancing the Speed and Availability of Retail Payments , Non-Banks in Retail Payments , Innovations in Retail Payments

Topics: Cross-border cooperation, Financial inclusion, Financial market infrastructure, FinTech

Sectors: Banking, Securities

Key Attributes Assessment Methodology for the Insurance Sector

FSB methodology for assessing the implementation of the Key Attributes for Effective Resolution Regimes in the insurance sector

Financial Stability Board consultation sets out proposed methodology for assessing implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions in the insurance sector. Sets out essential criteria to guide assessment of adherence of a jurisdiction's insurance resolution frameworks with the Key Attributes. Promotes consistent assessments across jurisdictions and provides guidance when adopting or reforming insurance resolution options. Will also be used by the International Monetary Fund and the World Bank as part of their financial sector assessments.

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

Type: Consultative, discussion and issues paper

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

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

Sectors: Insurance

Deadline for comments: Feb 2018

Progress Report on the Implementation of Principles for Effective Supervisory Colleges

BCBS report highlights findings of implementation monitoring and provides examples of ways to meet commonly encountered challenges

Basel Committee on Banking Supervision progress report based on case studies of 13 colleges from home and host supervisor perspective. Report concludes that the effectiveness of colleges has improved since 2015 in the areas of information-sharing, coordinated risk assessment and crisis preparedness. Challenges remain, including those related to legal constraints on information-sharing, supervisory resource constraints and expectation gaps between home and host supervisors. Report sets out sound practices that include placing emphasis on the work between (or outside) formal college meetings, and encouraging home and host supervisors to reach out to each other to clarify expectations.

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

Type: Implementation

Parent: Principles for Effective Supervisory Colleges

Peer: Progress Report on the Implementation of Principles for Effective Supervisory Colleges

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

Sectors: Banking

EU Regulatory Standards on Simplified Obligations

EBA regulatory technical standards on application of simplified obligations relating to recovery and resolution planning

European Banking Authority report on the application of simplified obligations and waivers in recovery and resolution planning and its Regulatory Technical Standards specifying the eligibility criteria to determine whether institutions could e subject to simplified obligations when drafting such plans .

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

Type: Standard

Parent: Bank Recovery and Resolution Directive (BRRD)

Peer: Application of Simplified Obligations

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

Sectors: Banking, Securities

Guidelines on Supervision of Significant Branches

EBA guidelines on supervisory cooperation with respect to systemically important branches

European Banking Authority guidelines on cooperation and coordination between supervisory authorities in supervising large, systemically important branches in the EU, so-called "significant-plus" branches. Provides framework for identification of "significant-plus" branches. Outlines coordinated approach to supervision and assessment of recovery plans via colleges of supervisors. Creates set of principles that supervisors should comply with in performance of risk assessments, exchange of supervisory intelligence and information, planning of supervisory activities, carrying out on-the-spot checks and inspections, application of supervisory and precautionary measures and allocation of tasks between authorities.

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

Type: Guideline

Parent: CRD IV: Liquidity

Topics: Cross-border cooperation, Systemically important financial institutions (SIFIs)

Sectors: Banking

International Regulatory Standards: Renewing and Refocusing for Future Growth

IIF research paper examines regulatory cooperation and international standard setting

Institute of International Finance research paper evaluates the current state of global dialogue on regulatory cooperation and offers an assessment of the mandate and mission of international standard setters to foster cooperation, build on their legacy of achievements, ensure the durability of lasting global stability and support dynamic, inclusive growth.

Publisher: Industry Groups Release date: Oct 2017

Type: Consultative, discussion and issues paper

Topics: Cross-border cooperation, Supervisory framework, Systemic risk, Financial inclusion

Sectors: Banking, Insurance, Securities

Framework Cooperation Agreement on Banking Resolution

EU-US arrangement on bank crisis management and resolution

European Banking Authority Framework Cooperation Agreement with several US financial regulatory agencies lays out the basis for cooperation on bank crisis management and resolution between any of the EU supervisory or resolution authorities and any of the participating US agencies. The participating US agencies are the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the New York State Department of Financial Services.

Publisher: Regional Standard-Setting Bodies Release date: Sep 2017 Country: United States

Type: Law, Regulation and Policy

Parent: Bank Recovery and Resolution Directive (BRRD)

Topics: Crisis management and contingency planning, Cross-border cooperation, Recovery and resolution

Sectors: Banking

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Resources

382 records

Global Financial Innovation Network (GFIN)

The Post-Crisis Challenges Facing Supervisors

Report on the Functioning of Supervisory Colleges in 2017

Cross-Border Retail Payments

Key Attributes Assessment Methodology for the Insurance Sector

Progress Report on the Implementation of Principles for Effective Supervisory Colleges

EU Regulatory Standards on Simplified Obligations

Guidelines on Supervision of Significant Branches

International Regulatory Standards: Renewing and Refocusing for Future Growth

Framework Cooperation Agreement on Banking Resolution

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