Supervisory framework

382 records

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Report on the Impact and Accountability of Banking Supervision

BCBS survey on how supervisors define and evaluate impact of their policies and actions, manage against that impact, and account for it to external stakeholders

Basel Committee on Banking Supervision range of practice survey on the effectiveness of supervision, a necessary complement to steps to strengthen regulation such as under Basel III. Identifies the wide variety of objectives, performance indicators and practices with respect to accountability among different jurisdictions.The report does not seek to assess the effectiveness of different supervisory agencies or their supervisory processes.

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

Type: Sound Practice

Topics: Supervisory framework

Sectors: Banking

Templates and Structure of Disclosure of Specific Information by Supervisory Authorities

EIOPA technical standards for supervisory transparency and accountability under Pillar 2 of Solvency II

European Insurance and Occupational Pensions Authority technical standards addressed to supervisory authorities to support transparency regarding their supervisory activities. Addresses disclosure of information on: i) laws, regulations, administrative rules and general guidance; ii) supervisory review processes; iii) aggregate statistical data; iv) supervisory authorities' exercise of options available under the Solvency II Directive; and v) supervisory objectives, functions and activities. The proposed standards are pending European Commission endorsement or revision.

Publisher: Regional Standard-Setting Bodies Release date: Jun 2015

Type: Standard

Parent: Taking-up and Pursuit of the Business of Insurance and Reinsurance (Solvency II)

Topics: Transparency and disclosure, Supervisory framework

Sectors: Insurance, Pensions

Conduct of Business Risk and its Management

IAIS issues paper on supervision of conduct of business risk in insurers

International Association of Insurance Supervisors issues paper describes conduct of business risks and their mitigation. Contributes to comprehensive understanding and assessment of a sound risk culture and raises awareness of conduct of business risk, with a primary focus on retail customers. Also considers mitigation of conduct of business risk by regulated entities themselves and the role that supervisors can play.

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

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Risk management, Consumer education and protection, Conduct

Sectors: Insurance

Developments in Credit Risk Management Across Sectors: Current Practices and Recommendations

Joint Forum survey and sound practice guidance on credit risk management by banks, securities firms and insurers

Basel Committee on Banking Supervision, International Association of Securities Commissions, and International Association of Insurance Supervisors survey of supervisors and firms in the banking, securities and insurance sectors globally on the current state of credit risk management, including current supervisory frameworks around credit risk, state of credit risk management at firms, and implications for supervisory and regulatory treatments of credit risk. Includes recommendations for supervisors: i) caution against over-reliance on internal models for credit risk management and regulatory capital; ii) cognizance of growth of risk-taking behaviors and resulting need for firms to have appropriate risk management processes; iii) awareness of growing need for high-quality liquid collateral to meet margin requirements for OTC derivatives sectors; and iv) ascertain whether firms are accurately capturing central counterparty exposures as part of their credit risk management.

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

Type: Sound Practice

Topics: Credit risk, Supervisory framework

Sectors: Banking, Insurance, Securities

Credible Deterrence in the Enforcement of Securities Regulation

IOSCO discussion paper identifies and promotes awareness of factors that may credibly deter misconduct in securities and investment markets

International Organization of Securities Commissions highlights useful enforcement practices and powers adopted by various regulatory authorities around the world to promote and encourage credible deterrence of misconduct.

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

Type: Consultative, discussion and issues paper

Topics: Early intervention and enforcement, Supervisory framework

Sectors: Securities

Thematic Review on Supervisory Frameworks and Approaches for SIBs

FSB peer review of national authorities’ implementation of recommendations for more effective supervision of SIBs.

Financial Stability Board review assesses progress towards implementing improved supervisory effectiveness for systemically important banks (SIBs), in particular G-SIBs. Examines key changes made in supervisory frameworks and approaches for SIBs, and highlights where new practices and tools can lead to more effective supervision. Sets out recommendations to improve and assess supervisory effectiveness and foster greater cross-border supervisory cooperation and coordination.

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

Type: Implementation

Topics: Systemically important financial institutions (SIFIs), Supervisory framework, Corporate governance, Cross-border cooperation, Stress-testing, Recovery and resolution

Sectors: Banking, Securities

Joint Committee Report on Securitisation

EBA, ESMA, and EIOPA review of existing legal and regulatory framework for securitizations and recommendations to support redevelopment of the market

Joint Committee of European Supervisory Authorities (the European Securities and Markets Authority (ESMA), Banking Authority (EBA) and Insurance and Occupational Pensions Authority (EIOPA)) report on Structured Finance Instruments (SFIs) addressing: i) the nature and content of investor due diligence requirements and issuer, originator and sponsor disclosure requirements; ii) the parties to which the due diligence and disclosure requirements apply; and iii) the methods used for the adequate disclosure, reporting and enforcement in cases of noncompliance. Main recommendations are that: i) due diligence requirements be harmonized within the EU; ii) standardized investor reports reflect the dynamics of SFIs and be stored in a centralized public space; iii) all type of investors be empowered to effectively conduct their own stress tests; and iv) harmonized due diligence and disclosure framework be complemented with a comprehensive regime for supervision and enforcement.

Publisher: Regional Standard-Setting Bodies Release date: May 2015

Type: Consultative, discussion and issues paper

Topics: Securitization, Supervisory framework, Stress-testing

Sectors: Banking, Securities

Guidelines on Triggers for Use of Early Intervention Measures

EBA guidelines on conditions for application of early intervention measures under BRRD

European Banking Authority final guidelines on triggers for use of early intervention measures under the European Bank Recovery and Resolution Directive (BRRD). Establishes a link between on-going supervision conducted by supervisory authorities according to the Capital Requirement Directive (CRD) and early intervention powers set out in BRRD. Clarifies conditions for application of early intervention measures provided for in BRRD and provides supervisory authorities with a set of triggers that should prompt decisions on application of early intervention measures.

Publisher: Regional Standard-Setting Bodies Release date: May 2015

Type: Guideline

Topics: Early intervention and enforcement, Supervisory framework, Cross-border cooperation

Sectors: Banking, Securities

Supervising Large Complex Financial Institutions

FRBNY research paper describes how its prudential supervisory activities are structured, staffed and implemented

US Federal Reserve Bank of New York describes its supervisory approach for large, complex bank holding companies and how prudential supervisory activities are structured, staffed, and implemented as part of broader supervisory program of the Federal Reserve System. Provides insight into what supervisors do and how they do it.

Publisher: National Regulators Release date: May 2015 Country: United States

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Financial conglomerates

Sectors: Banking

Insurance Supervision Act: Amendment Promulgated in the Federal Law Gazette

Insurance Supervision Act (Germany)

Federal Financial Supervisory Authority of Germany (BaFin) announcement sets out amendments to German Insurance Supervision Act. Includes special rules for insurance groups and transitional provisions intended to make changeover to new supervisory regime easier for undertakings. New legislation reflects two systems: i) undertakings that fall within scope of Solvency II; and ii) companies that are not subject to European supervisory regime. Act to Modernise Financial Supervision of Insurance Undertakings enters into force on 1 January 2016, with exception of a provision which comes into effect immediately and allows BaFin, among other things, to issue certain supervisory authorizations in anticipation of Solvency II.

Publisher: National Regulators Release date: Apr 2015 Country: Germany

Type: Law, Regulation and Policy

Peer: Minimum Requirements on the System of Governance of Insurance Undertakings

Topics: Supervisory framework

Sectors: Insurance

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Resources

382 records

Report on the Impact and Accountability of Banking Supervision

Templates and Structure of Disclosure of Specific Information by Supervisory Authorities

Conduct of Business Risk and its Management

Developments in Credit Risk Management Across Sectors: Current Practices and Recommendations

Credible Deterrence in the Enforcement of Securities Regulation

Thematic Review on Supervisory Frameworks and Approaches for SIBs

Joint Committee Report on Securitisation

Guidelines on Triggers for Use of Early Intervention Measures

Supervising Large Complex Financial Institutions

Insurance Supervision Act: Amendment Promulgated in the Federal Law Gazette

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