Operational risk

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Realizing the Potential of Blockchain

WEF report sets out multi-stakeholder approach to the stewardship of blockchain and cryptocurrencies

World Economic Forum survey of blockchain governance challenges and multi-stakeholder cooperation opportunities. Discusses: i) global governance networks; ii) differences between internet of information and blockchain; iii) most urgent threats; and iv) the need for a proper legal structure, regulatory restraint, diversity of viewpoints and scientific research in tandem with business development.

Publisher: Others Release date: Jun 2017

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure

Sectors: Banking, Insurance, Pensions, Securities

Guidelines on ICT Risk Assessment Under SREP

EBA guideline on common means to assess Information and Communication Technology risk

European Banking Authority guideline sets out the requirements supervisors should apply in their assessment of ICT when: i) focusing on the general provisions and application of scoring as part of the SREP assessment of risks to capital; ii) assessing institutions' governance and strategy on ICT; and iii) assessing institutions' ICT risk exposures and controls.

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

Type: Guideline

Parent: Guidelines on Common Procedures and Methodologies for the Supervisory Review and Evaluation Process (SREP)

Peer: Guidelines on Assessment of ICAAP and ILAAP under SREP, Revised Procedures and Methodologies for the Supervisory Review and Evaluation Process and Supervisory Stress Testing

Topics: Risk management, Operational risk, Corporate governance, Capital adequacy

Sectors: Banking

Ensuring Financial Education and Consumer Protection for All in the Digital Age

OECD report discusses implications of digitization of finance for financial education and consumer protection

Organisation for Economic Co-operation and Development report explores challenges and opportunities resulting from today's digital revolution for consumers, small businesses and particularly disadvantaged groups. Highlights the need to further enhance consumer protection and financial education frameworks to more effectively target digital finance, and identifies financial literacy initiatives and policy options that can help consumers better manage any potential digital risks and benefits. Illustrates the use of digital tools to deliver financial education while addressing the role of public private and other relevant stakeholders.

Publisher: International Organizations Release date: Apr 2017

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Consumer education and protection, Operational risk

Sectors: Banking, Insurance, Pensions, Securities

Distributed Ledger Technology in Payment, Clearing and Settlement

CPMI report provides analytical framework for review and analysis of DLT arrangements

Committee on Payments and Market Infrastructure report provides an analytical framework for central banks and other authorities to review and analyze the use of distributed ledger (blockchain) technology in payment, clearing and settlement activities. Focuses on potential implications for efficiency and safety and for the broader financial markets. Framework is directed primarily at arrangements that involve restricted ledgers, reflecting the main types of arrangements currently being developed in the financial sector.

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

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure

Sectors: Banking, Securities

The Distributed Ledger Technology Applied to Securities Markets

ESMA report provides overview of blockchain technology

European Securities and Markets Authority report looks at benefits and risks of distributed ledger technology (DLT) or blockchain technology to securities markets and how it maps to existing EU regulation.

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

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure

Sectors: Securities

Key Questions on Cyber Risk and Cyber Risk Insurance

Geneva Association overview of main research topics and future research directions in cyber risk and cyber risk insurance

Geneva Association report sets out main areas of research and key studies in the field of cyber risk and cyber insurance. Makes recommendations about potential role of insurers and governments in addressing cyber risks.

Publisher: Industry Groups Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Operational risk, Cyber risk

Sectors: Banking, Insurance, Securities

Proportionate Regulatory Frameworks in Inclusive Insurance

A2ii lessons learned from microinsurance regulation in India

Access to Insurance Initiative (A2ii) report on results of microinsurance regulations in India, supervisory approaches taken and lessons learned from past experiences. Examines ongoing and emerging market trends and challenges for insurance supervisors, particularly with regard to formalization, mass distribution and digital technology. Highlights areas where supervisory capacity-building will be highly important as inclusive insurance markets worldwide continue to innovate and grow.

Publisher: Others Release date: Nov 2016 Country: India

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Operational risk, Financial inclusion

Sectors: Microinsurance

Advisory to Financial Institutions on Cyber-Events and Cyber-Enabled Crime

FinCen advisory for banks to understand their obligations

Financial Crimes Enforcement Network advisory assists financial institutions in understanding their obligations regarding cyber-events and cyber-enabled crime. Advises on: i) reporting cyber-enabled crime and cyber-events; ii) including relevant and available cyber-related information in suspicious activity reports (SARs); iii) collaborating between Bank Secrecy Act/Anti-Money Laundering units and in-house cybersecurity units to identify suspicious activity; and iv) sharing information including cyber-related information, among financial institutions to guard against and report money laundering, terrorism financing, and cyber-enabled crime.

Publisher: National Regulators Release date: Oct 2016 Country: United States

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Banking

Enhanced Cyber Risk Management Standards

FRB, FDIC and OCC consultation on enhanced standards for cybersecurity risk management

US Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency consultation on potential enhanced cybersecurity risk management and resilience standards to apply to large banks as well as to services provided by third parties to these firms. Standards would increase operational resilience and reduce impact on financial system in case of a cyber event experienced by one of these entities.

Publisher: National Regulators Release date: Oct 2016 Country: United States

Type: Consultative, discussion and issues paper

Topics: Operational risk, Risk management, Cyber risk

Sectors: Banking

Deadline for comments: Jan 2017

Singapore Payments Roadmap

MAS roadmap to promote electronic payments in Singapore

Monetary Authority of Singapore roadmap to promote electronic payments. Recommendations include: i) current regulatory regime governing payments and remittances be streamlined to create a single and modular regime that will be applied on an activity basis, rather than on specific payment systems; and ii) strengthening governance model and creating a national payments council that fosters innovation, competition and collaboration in the payments industry, including leveraging FinTech. Supports key ongoing infrastructure projects as having potential to transform payment landscape for recurring, retail and peer-to-peer payments, with the implementation of interoperable solutions. These include enabling more convenient payments through a centralized addressing system and creating a seamless consumer experience with unified point-of-sale payment terminals.

Publisher: National Regulators Release date: Aug 2016 Country: Singapore

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Operational risk, FinTech

Sectors: Banking

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Resources

382 records

Realizing the Potential of Blockchain

Guidelines on ICT Risk Assessment Under SREP

Ensuring Financial Education and Consumer Protection for All in the Digital Age

Distributed Ledger Technology in Payment, Clearing and Settlement

The Distributed Ledger Technology Applied to Securities Markets

Key Questions on Cyber Risk and Cyber Risk Insurance

Proportionate Regulatory Frameworks in Inclusive Insurance

Advisory to Financial Institutions on Cyber-Events and Cyber-Enabled Crime

Enhanced Cyber Risk Management Standards

Singapore Payments Roadmap

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