Operational risk

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Guidelines on Outsourcing Arrangements

EBA guidelines set out how supervisory expectations can keep pace with the growing use of outsourcing by financial institutions

European Banking Authority guidelines on outsourcing arrangements set out specific provisions for governance frameworks of financial institutions within the scope of EBA's mandate with regard to outsourcing arrangements and related supervisory expectations and processes.

Publisher: Regional Standard-Setting Bodies Release date: Feb 2019

Type: Guideline

Topics: Operational risk

Sectors: Banking

Cyber-resilience: Range of Practices

BCBS report discusses bank cyber-resilience practices across jurisdictions

Basel Committee on Banking Supervision report identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions. Discusses: i) cyber-resilience standards and guidelines; ii) cyber-governance; iii) approaches to risk management, testing and incident response and recovery; iv) communication and sharing of information; and v) interconnections with third parties.

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

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Operational risk

Sectors: Banking

Supervision of Cyber Risk

TC Note provides broad discussion of cyber risk and sets out framework for its supervision

TC Note sets out the nature of cyber risk and outlines the fundamental elements of a framework for implementing an effective supervision program for cyber risk assessment in regulated financial institutions. Discusses how supervisors may assess institutions' governance policies and practices for cyber risk management.

Publisher: Toronto Centre Release date: Dec 2018

Type: TC Notes

Peer: FinTech, RegTech and SupTech: What They Mean for Financial Supervision

Topics: Cyber risk, FinTech, Operational risk

Sectors: Banking, Insurance, Pensions, Securities

Prudential Standard on Information Security

APRA prudential requirements for addressing cyber risk and other information security threats

Australian Prudential Regulation Authority standard to minimize the likelihood and impact of information security incidents on the confidentiality, integrity or availability of information assets, including those managed by related parties or third parties.

Publisher: National Regulators Release date: Nov 2018 Country: Australia

Type: Standard

Topics: Cyber risk, FinTech, Operational risk

Sectors: Banking, Insurance, Pensions

The Basel Framework in 100 Jurisdictions: Implementation Status and Proportionality Practices

FSI report sets out how authorities are implementing international standards in a proportionate manner

Financial Stability Institute report sets out current state of implementation of key Basel standards and outlines associated proportionality practices in 100 jurisdictions that are not members of the Basel Committee on Banking Supervision (BCBS). Report includes a range of proportionality practices applied in non-BCBS jurisdictions.

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

Type: Consultative, discussion and issues paper

Topics: Risk-based supervision, Transparency and disclosure, Capital adequacy, Liquidity risk and rules, Market risk, Operational risk

Sectors: Banking

Guidelines on Provision of Digital Advisory Services

MAS guidelines on characteristics and risks of digital advisory services

Monetary Authority of Singapore guideline sets out its assessment of the unique characteristics of and risks posed by digital advisory services (also known as robo-advisors), along with regulatory expectations.

Publisher: National Regulators Release date: Oct 2018 Country: Singapore

Type: Guideline

Topics: Financial inclusion, Consumer education and protection, Corporate governance, Transparency and disclosure, Operational risk

Sectors: Banking, Securities

Notice on Risk Based Capital Adequacy Requirements for Banks in Singapore

MAS notice establishes minimum capital adequacy ratios for banks and the methodology to calculate the ratios

Monetary Authority of Singapore notice establishes minimum capital adequacy ratios for banks and the methodology they must use to calculate these ratios (Pillar 1). Provides a range of approaches for calculating regulatory capital based on the complexity and sophistication of a bank's businesses and operations. Requires banks to consider whether they have adequate capital to cover exposure to all risks and sets out MAS expectations for bank's internal capital adequacy assessment process (Pillar 2). Specifies minimum disclosure requirements in relation to capital adequacy.

Publisher: National Regulators Release date: Oct 2018 Country: Singapore

Type: Law, Regulation and Policy

Parent: Basel III Leverage Ratio Framework and Disclosure Requirements, Revisions to the Basel III Leverage Ratio Framework

Peer: Risk Based Capital Adequacy Requirements

Topics: Capital adequacy, Credit risk, Market risk, Operational risk, Securitization, Transparency and disclosure

Sectors: Banking

Outsourcing Involving Cloud Computing Services

APRA information paper explores the use of shared computing services

Australian Prudential Regulation Authority information paper provides overview of cloud computing, its benefits and risks, and APRA's supervisory approach.

Publisher: National Regulators Release date: Sep 2018 Country: Australia

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management

Sectors: Banking, Insurance, Pensions

Understanding Cyber Insurance - A Structured Dialogue with Insurance Companies

EIOPA report concludes that a deeper understanding of cyber risk is the core challenge for the European cyber insurance industry

European Insurance and Occupational Pensions Authority report provides insights on the functioning, growth potential, challenges and risks of cyber insurance in Europe in the context of the expected growing importance of cyber insurance in the portfolios of (re)insurers. Addresses important key findings, especially the clear need for improved understanding of cyber risk. This report is the first attempt by EIOPA to enhance the level of understanding of cyber risk underwriting with a focus on the European insurance market.

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

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Consumer education and protection, Operational risk

Sectors: Insurance

Open API Framework for the Hong Kong Banking Sector

HKMA approach to Application Programming Interfaces for the banking industry

Hong Kong Monetary Authority finalized framework and related implementation plan for the Open Application Programming Interface (API). Comprises a selection of Open API functions and deployment time frames, technical standards, third-party service provider guidelines, facilitation measures and maintenance models.

Publisher: National Regulators Release date: Jul 2018 Country: Hong Kong, China

Type: Supervisory Practice

Topics: Consumer education and protection, FinTech, Cyber risk, Operational risk

Sectors: Banking

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Resources

382 records

Guidelines on Outsourcing Arrangements

Cyber-resilience: Range of Practices

Supervision of Cyber Risk

Prudential Standard on Information Security

The Basel Framework in 100 Jurisdictions: Implementation Status and Proportionality Practices

Guidelines on Provision of Digital Advisory Services

Notice on Risk Based Capital Adequacy Requirements for Banks in Singapore

Outsourcing Involving Cloud Computing Services

Understanding Cyber Insurance - A Structured Dialogue with Insurance Companies

Open API Framework for the Hong Kong Banking Sector

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