Risk-based supervision

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Risk-Based Approach for Money or Value Transfer Services

FATF guidance to assist countries to apply risk-based approach to money service businesses

Financial Action Task Force guidance to assist countries and their supervisory authorities to apply risk-based approach associated to money or value transfer services (MVTS). Risk-based approach requires that measures to combat money laundering and terrorist financing are commensurate with risks. Overall risks and threats are influence by extent and quality of regulatory and supervisory framework as well as implementation of risk-based controls and mitigating measures by each MVTS provider.

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

Type: Guideline

Peer: Risk-Based Approach for the Banking Sector

Topics: Financial inclusion, Money laundering and terrorist financing, Risk-based supervision

Sectors: Banking

Composite Risk Rating and Assessment Criteria

OSFI assessment criteria to guide supervisory judgments in determining an institution's Composite Risk Rating

Office of the Superintendent of Financial Institutions of Canada update of criteria used to develop Composite Risk Rating (CRR) of an institution. Updates reflect enhancements made to OSFI's Supervisory Framework in 2010.

Publisher: National Regulators Release date: Oct 2015 Country: Canada

Type: Supervisory Practice

Parent: Supervisory Framework

Topics: Risk-based supervision, Supervisory framework

Sectors: Banking, Insurance

Effective Supervision and Enforcement by AML/CFT Supervisors of the Financial Sector and Law Enforcement

FATF guidance on effective supervisory systems for anti-money laundering and countering financing of terrorism compliance

Financial Action Task Force guidance describes attributes of effective supervision by regulators and supervisors. Clarifies interplay with role of law enforcement agencies. Practices described are intended as examples of measures and means that relevant supervisors may use to meet requirements of FATF Recommendations.

Publisher: Global Standard-Setting Bodies Release date: Oct 2015

Type: Guideline

Peer: Correspondent Banking Services

Topics: Risk-based supervision, Money laundering and terrorist financing, Supervisory framework

Sectors: Banking, Insurance

Objectives and Principles of Financial Supervision in Singapore

Statement of MAS objectives, functions and principles of supervision

Monetary Authority of Singapore policy statement on supervisory aspects of its mandate to promote a sound and progressive financial services sector. Sets out MAS’ objectives or desired outcomes of supervision, the functions it performs directly or facilitates to achieve these outcomes, and the principles that guide its supervisory approach.

Publisher: National Regulators Release date: Sep 2015 Country: Singapore

Type: Law, Regulation and Policy

Peer: Supervision of Financial Market Infrastructures in Singapore

Topics: Supervisory framework, Risk-based supervision

Sectors: Banking, Insurance, Securities

Tenets of Effective Regulation

MAS description of the Tenets underlying its regulatory framework

Monetary Authority of Singapore monograph addressing the development and review of the regulatory framework in Singapore. Describes six guiding Tenets: i) outcome focused; ii) shared responsibility; iii) risk appropriate; iv) responsive to change and cycles; v) impact sensitive; and vi) clear and consistent.

Publisher: National Regulators Release date: Sep 2015 Country: Singapore

Type: Consultative, discussion and issues paper

Peer: Supervision of Financial Market Infrastructures in Singapore

Topics: Supervisory framework, Risk-based supervision

Sectors: Banking, Insurance, Securities

Supervision of Banks and Nonbanks Operating Through Agents

CGAP report on implementing an effective risk-based approach to agent supervision

Consultative Group to Assist the Poor report considers linkages among the main policy objectives of financial inclusion, stability, integrity, and consumer protection. Draws on research conducted on a sample of nine "leading" countries defined as having large, diverse agent networks that continue to grow rapidly and where business models are evolving fast. Supervisors in researched countries identified the major risks as: i) consumer protection; ii) operational; and iii) money-laundering/terrorist financing (ML/TF) risk.

Publisher: International Organizations Release date: Aug 2015

Type: Consultative, discussion and issues paper

Topics: Consumer education and protection, Operational risk, Money laundering and terrorist financing, Risk-based supervision

Sectors: Banking, Microfinance

Risk-Based Approach for the Banking Sector

FATF guidance on risk-based approach to anti-money laundering/combatting the financing of terrorism in the banking sector

Financial Action Task Force guidance: i) outlines principles involved in applying a risk-based approach to anti-money laundering/combatting the financing of terrorism (AML/CFT); ii) assists national governments, supervisory authorities and banks in design and implementation of a risk-based approach to AML/CFT by providing general guidelines and examples of current practice; iii) supports effective implementation and supervision of national AML/CFT measures by focusing on risks and mitigation measures; and iv) supports development of a common understanding of what risk-based approach to AML/CFT entails.

Publisher: Global Standard-Setting Bodies Release date: Oct 2014

Type: Guideline

Peer: National Money Laundering and Terrorist Financing Risk Assessment, Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion

Topics: Risk-based supervision, Money laundering and terrorist financing, Financial inclusion

Sectors: Banking

Navigating the Risk-Based Supervision Process

Deloitte report on Bank of India's new risk-based supervision process

Deloitte Touche Tohmatsu Limited report examines Bank of India's revamped risk-based supervision process. Provides a perspective on the holistic approach banks can take to integrate the supervisory process with the internal control systems and internal capital adequacy assessment processes.

Publisher: Others Release date: Jan 2014 Country: India

Type: Consultative, discussion and issues paper

Topics: Risk-based supervision, Corporate governance, Supervisory framework

Sectors: Banking

Guide for Senior Executives

Companion to MAS Framework for Impact and Risk Assessment of Financial Institutions

Monetary Authority of Singapore guide for boards and senior managers. Provides detailed information on MAS risk-based supervision of financial institutions. Covers how MAS supervisory objectives and principles shape its supervisory framework, and the supervisory processes that underpin the framework, including how MAS assesses the impact of financial institutions and the use of the Comprehensive Risk Assessment Framework and Techniques (CRAFT) to assess their risks.

Publisher: National Regulators Release date: Mar 2013 Country: Singapore

Type: Guideline

Topics: Risk-based supervision, Supervisory framework

Sectors: Banking, Insurance, Securities

HKMA Supervisory Policy - Supervisory Review Process

HKMA policy for supervisory review of bank capital adequacy

Hong Kong Monetary Authority policy sets out its approach to the supervisory review process under Pillar 2 of the Basel capital framework, including criteria and standards used for evaluating bank capital adequacy and the effectiveness of bank's capital adequacy assessment process, for purposes of determining its minimum capital adequacy ratio. Describes how framework for determining any additional capital that a bank should hold will operate under the capital adequacy framework.

Publisher: National Regulators Release date: Dec 2012 Country: Hong Kong, China

Type: Law, Regulation and Policy

Peer: HKMA Supervisory Policy - Stress-Testing, HKMA Supervisory Policy - Overview of Capital Adequacy Regime for Locally Incorporated Authorized Institutions, Bank Culture Reform

Topics: Capital adequacy, Stress-testing, Risk-based supervision, Supervisory framework, Contingency planning

Sectors: Banking

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Resources

382 records

Risk-Based Approach for Money or Value Transfer Services

Composite Risk Rating and Assessment Criteria

Effective Supervision and Enforcement by AML/CFT Supervisors of the Financial Sector and Law Enforcement

Objectives and Principles of Financial Supervision in Singapore

Tenets of Effective Regulation

Supervision of Banks and Nonbanks Operating Through Agents

Risk-Based Approach for the Banking Sector

Navigating the Risk-Based Supervision Process

Guide for Senior Executives

HKMA Supervisory Policy - Supervisory Review Process

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