Transparency and disclosure

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Depositor and Dormant Account Protection

PRA supervisory statement on its expectations regarding depositor protection rules

UK Prudential Regulation Authority supervisory statement sets out expectations on deposit-takers with regards to depositor protection rules. Areas covered include: i) eligibility for deposit protection; ii) disclosure; iii) marking eligible deposits and transitional issues; iv) temporary high balances; v) Dormant Account Scheme information requirements; vi) calculation of levies; vii) Single Customer View; viii) in-flight transactions; ix) continuity of access; and x) change in the deposit protection limit.

Publisher: National Regulators Release date: Mar 2021 Country: United Kingdom

Type: Supervisory Practice

Topics: Deposit insurance, Consumer education and protection, Transparency and disclosure

Sectors: Banking

IFRS 17 Insurance Contracts: What Supervisors Need to Know

TC note discusses amendments to IFRS

Toronto Centre Note covers the amendments to IFRS 17 issued in June 2020 (see Appendix 1) and the plans that insurance supervisors need to develop and implement to facilitate a smooth transition to IFRS 17. It is based upon the final Standard as amended and a review of publicly-available resources to glean the insights of insurers and professionals involved in the implementation of IFRS 17. This Note discusses: i) how the key features of the Standards have been designed to meet the IASB's objectives; ii) the potential implications for insurers applying IFRS 17; iii) considerations of the adoption of IFRS 17 for regulatory and supervisory purposes based on the guidance of the Insurance Core Principles (ICPs) of the IAIS; and iv) the need for supervisors to understand the impact and steps to ensure preparedness and adequate supervisory oversight of transition and implementation.

Publisher: Toronto Centre Release date: Nov 2020

Type: TC Notes

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Insurance

Task Force on Climate-related Financial Disclosures: 2020 Status Report

FSB 2020 status report

Financial Stability Board Task Force on Climate-related Financial Disclosures 2020 status report found that disclosure of climate-related financial information aligned with the TCFD recommendations has steadily increased since the recommendations were published in 2017. The largest increases relate to companies disclosing how they identify, assess, and manage climate-related risk.

Publisher: Global Standard-Setting Bodies Release date: Nov 2020

Type: Guideline

Topics: Climate change , Risk management, Transparency and disclosure

Sectors: Banking, Insurance, Pensions, Securities

The UK Leverage Ratio Framework

Supervisory practice for UK leverage ratio framework

UK Prudential Regulatory Authority supervisory statement on UK leverage ratio framework. Sets out PRA's expectations on leverage ratio buffers and reporting and disclosure of the leverage ratio, as well as provides clarification on PRA rules.

Publisher: National Regulators Release date: Nov 2020 Country: United Kingdom

Type: Supervisory Practice

Peer: Policy on UK Leverage Ratio Framework

Topics: Capital adequacy, Transparency and disclosure, Systemically important financial institutions (SIFIs)

Sectors: Banking

Issues Paper on the Implementation of the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)

IAIS and SIF second issues paper on the implementation of the recommendations of the TCFD

International Association of Insurance Supervisors and Sustainable Insurance Forum issues paper provides an overview of practices that supervisors have considered in the development of climate-related disclosure requirements within their markets.

Publisher: Global Standard-Setting Bodies Release date: Feb 2020

Type: Consultative, discussion and issues paper

Topics: Climate change , Risk management, Transparency and disclosure

Sectors: Insurance

The Bank of England's Approach to Assessing Resolvability

New PRA Resolvability Assessment Framework is designed to make resolution more transparent, better understood and more successful

UK Prudential Regulation Authority Resolvability Assessment Framework has three main components: i) how the Bank of England will assess resolvability; ii) a new Resolution Assessment Part of the PRA Rulebook that requires major UK firms to perform an assessment of their preparations for resolution; and iii) the Bank's intention to make a public statement concerning the resolvability of each of the major UK firms.

Publisher: National Regulators Release date: Jul 2019 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Transparency and disclosure

Sectors: Banking

Overview of Pillar 2 Supervisory Review Practices and Approaches

BCBS review describes key concepts of Pillar 2 and supervisory review practices in use across Basel Committee member jurisdictions

Basel Committee on Banking Supervision report covers key areas of Pillar 2 supervisory review process, including the risk assessment process, risk appetites, board and senior management roles and supervisory practices adopted to enhance transparency, and bank disclosure practices. The report also describes a number of selected Pillar 2 risks, including business risk and interest rate risk in the banking book. It presents a range of actions that are taken under Pillar 2.

Publisher: Global Standard-Setting Bodies Release date: Jun 2019

Type: Consultative, discussion and issues paper

Topics: Capital adequacy, Risk management, Corporate governance, Transparency and disclosure, Market risk, Securitization

Sectors: Banking

Report on Other Information to be Provided to Prospective and Current Members

EIOPA report sets out principles for transparent, timely and clear information provision on pensions

European Insurance and Occupational Pensions Authority report analyzes national practices existing prior to the implementation of the IORP II Directive on the activities and supervision of institutions for occupational retirement provisions (IORPs).

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

Type: Consultative, discussion and issues paper

Topics: Transparency and disclosure, Consumer education and protection, Pension and retirement plans

Sectors: Pensions

Proportionality in Bank Regulation and Supervision

Results of BCBS survey of current practices

Basel Committee on Banking Supervision survey sets out how other countries are implementing the Basel Committee standards.

Publisher: Global Standard-Setting Bodies Release date: Mar 2019

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Transparency and disclosure, Consumer education and protection

Sectors: Banking

Current Status of Level 1 Assessments

IOSCO and CPMI report sets out updated information on progress through the Level 1 assessments online tracker

International Organization of Securities Commissions and Committee on Payments and Market Infrastructures report discusses how a range of countries are implementing international standards for payment systems, central securities depositories and securities settlement systems.

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

Type: Consultative, discussion and issues paper

Topics: Financial market infrastructure, Transparency and disclosure

Sectors: Securities

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Resources

382 records

Depositor and Dormant Account Protection

IFRS 17 Insurance Contracts: What Supervisors Need to Know

Task Force on Climate-related Financial Disclosures: 2020 Status Report

The UK Leverage Ratio Framework

Issues Paper on the Implementation of the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)

The Bank of England's Approach to Assessing Resolvability

Overview of Pillar 2 Supervisory Review Practices and Approaches

Report on Other Information to be Provided to Prospective and Current Members

Proportionality in Bank Regulation and Supervision

Current Status of Level 1 Assessments

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