Global Standard-Setting Bodies

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International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation

Update of the FATF internationally agreed AML-CFT standard

Financial Action Task Force standard defines measures which countries should implement to combat money laundering and terrorist financing, as well as financing of proliferation of weapons of mass destruction. Sets out essential measures: i) identify risks, develop policies and domestic coordination; ii) pursue money laundering, terrorist financing and financing of proliferation; iii) apply preventive measures for financial sector and other designated sectors; iv) establish powers and responsibilities for competent authorities and other institutional measures; v) enhance transparency and availability of beneficial ownership information of legal persons and arrangements; and vi) facilitate international cooperation.

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

Type: Standard

Peer: Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion, Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines, Emerging Terrorist Financing Risks , Risk-Based Approach for the Banking Sector, National Money Laundering and Terrorist Financing Risk Assessment, The Role of Hawala and Other Similar Service Providers in Money Laundering and Terrorist Financing

Topics: Money laundering and terrorist financing

Sectors: Banking, Insurance, Pensions, Securities, Microfinance

Bank Stress Testing Principles

BCBS principles for stress testing

Basel Committee on Banking Supervision principles address stress testing by supervisors and banks. Principles can be applied across banks and jurisdictions while remaining relevant as stress testing practices continue to evolve.

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

Type: Guideline

Parent: Principles for Sound Stress Testing Practices and Supervision

Peer: Supervisory and Bank Stress Testing: Range of Practices , Peer Review of Supervisory Authorities' Implementation of Stress Testing Principles

Topics: Stress-testing

Sectors: Banking

Global Systemically Important Banks - Revised Assessment Methodology and the Higher Loss Absorbency Requirement

BCBS implementation of technical changes to framework for G-SIBs

Basel Committee on Banking Supervision modifications to G-SIB assessment and identification framework. Enhancements involve: i) amendments to the definition of cross-jurisdictional indicators consistent with the definition of BIS consolidated statistics; ii) expansion of scope of consolidation to include insurance subsidiaries; iii) amendments to definition of cross-jurisdictional activity; iv) modifications of weights in substitutability category and introduction of a trading volume indicator; v) revisions to disclosure requirements; vi) further guidance on bucket migration and associated surcharge; and vii) proposed transition schedule.

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

Type: Implementation

Parent: Global Systemically Important Banks: Updated Assessment Methodology and the Higher Loss Absorbency Requirement

Peer: Assessment of Basel III G-SIB Framework and Review of D-SIB Frameworks - European Union, 2017 Update of List of Global Systemically Important Banks (G-SIBs)

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

Sectors: Banking

Principles on Bail-in Execution

FSB guidance on operationalizing bail-in as a resolution tool

Financial Stability Board guidance to assist authorities as they develop bail-in resolution strategies and make resolution plans operational by defining principles to operationalize the use of bail-in as a resolution tool. Addresses actions and processes required to: i) identify the instruments and liabilities within the scope of bail-in; ii) conduct valuations to inform and support the application of bail-in; iii) develop a bail-in process that meets applicable securities laws and exchange requirements; iv) transfer governance and control rights to new owners and obtain the required regulatory approvals and authorizations; and v) communicate effectively at all stages of the bail-in transaction with affected parties and the market. While developed in the context of global systemically important banks (G-SIBs), principles are generally relevant to resolution of domestic systemically important banks (D-SIBs) as well.

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

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Peer: Guiding Principles on the Internal Total Loss-Absorbing Capacity of G-SIBs

Topics: Recovery and resolution, Crisis management and contingency planning, Systemically important financial institutions (SIFIs)

Sectors: Banking

Funding Strategy Elements of an Implementable Resolution Plan

FSB guidance on plan for funding in resolution

Financial Stability Board consultation sets out key funding strategy elements to support the orderly resolution of global systemically important banks (G-SIBs). Covers: i) firm capabilities to support monitoring, reporting and estimating funding needs in resolution and to facilitate execution of the funding strategy; ii) development of a resolution funding plan by the authorities; iii) use of firm assets and private sources of funding; iv) access to temporary public sector backstop funding mechanisms and ordinary central bank facilities; and v) information sharing and coordination between authorities. Generally relevant to resolution of domestically systemically important banks as well.

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

Type: Guideline

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions, Guiding Principles on the Temporary Funding Needed to Support the Orderly Resolution of a G-SIB

Topics: Recovery and resolution, Liquidity risk and rules, Systemically important financial institutions (SIFIs), Crisis management and contingency planning

Sectors: Banking

Issues Paper on Index Based Insurance, Particularly in Inclusive Insurance Markets

IAIS issues paper focuses on insurance supervisors who seek to enhance financial inclusion in developing markets

International Association of Insurance Supervisors issues paper discusses: i) why various promoters have sought to develop index based insurance; ii) relevant stakeholders and how they may be different to other insurance-related subject areas; iii) issues summarized under the heading of "legal certainty" and a range of particular consumer issues and how they tend to have been considered and resolved; and iv) index based insurance projects and how supervisors might approach them that reflects both a proportionate approach and provides for innovations.

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

Type: Consultative, discussion and issues paper

Parent: Issues Paper on Index-Based Insurances

Topics: Financial inclusion, Consumer education and protection

Sectors: Insurance

Capital Treatment for Short-Term "Simple, Transparent and Comparable" Securitisations

BCBS standard for applying preferential regulatory capital treatment of STC short-term securitizations

Basel Committee on Banking Supervision standard sets out additional guidance and requirements for applying preferential regulatory capital treatment for banks acting as investors in, or as sponsors of, simple, transparent and comparable (STC) short-term securitizations, typically in asset-backed commercial paper (ABCP) structures. Additional guidance and requirements include that: i) investors have access to key monthly information on performance and key characteristics of the ABCP structure; ii) redemption risk of the underlying assets is addressed from the sponsor's perspective; and iii) transactions funded by the conduit have an enforceable legal structure and that relevant information is disclosed by the sponsor to investors.

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

Type: Standard

Parent: Revisions to the Basel Securitisation Framework

Peer: Criteria for Identifying Simple, Transparent and Comparable Securitisations, Criteria for Identifying Short-Term Simple, Transparent and Comparable Securitisations

Topics: Securitization, Credit risk, Capital adequacy

Sectors: Banking

Criteria for Identifying Short-Term Simple, Transparent and Comparable Securitisations

BCBS and IOSCO sound practice on criteria specifically for asset-backed commercial paper conduits

Basel Committee on Banking Supervision and International Organization of Securities Commissions sound practice on criteria for identifying "simple, transparent and comparable" (STC) securitizations that take account of the characteristics of short-term asset-backed commercial paper (ABCP) conduits, such as: i) short maturity of the commercial paper issued; ii) different forms of programme structures; and iii) existence of multiple forms of liquidity and credit support facilities.

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

Type: Sound Practice

Parent: Revisions to the Basel Securitisation Framework

Peer: Criteria for Identifying Simple, Transparent and Comparable Securitisations, Capital Treatment for Short-Term "Simple, Transparent and Comparable" Securitisations

Topics: Securitization, Transparency and disclosure

Sectors: Banking, Securities

Regulatory Reporting and Public Transparency in Secondary Corporate Bond Markets

IOSCO report on transparency of corporate bond markets

International Organization of Securities Commission report emphasizes importance of availability of corporate bond information to regulators in the form of reporting and to the public in the form of transparency requirements. Report: i) examines data reporting requirements for corporate bond markets; ii) examines current and proposed regulatory requirements relating to public pre-trade and post-trade transparency and the potential impact of transparency on market liquidity; and iii) makes recommendations for regulators to reflect current markets and regulatory frameworks.

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

Type: Consultative, discussion and issues paper

Topics: Transparency and disclosure

Sectors: Securities

Frameworks for Early Supervisory Intervention

BCBS range-of-practice study on frameworks, processes, and tools to support early supervisory intervention

Basel Committee on Banking Supervision range-of-practice study examines approaches to early supervisory intervention. Finds that early supervisory actions depend not only on the expert judgement of supervisors but also on an organizational infrastructure that sets in place: i) supervisory reinforcement through both vertical and horizontal risk assessments to maximize the early detection of risks; ii) a clear framework for when actions should be taken; and iii) internal governance processes and programs to support supervisory development and capacity building.

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

Type: Consultative, discussion and issues paper

Topics: Early intervention and enforcement

Sectors: Banking

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Resources

382 records

International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation

Bank Stress Testing Principles

Global Systemically Important Banks - Revised Assessment Methodology and the Higher Loss Absorbency Requirement

Principles on Bail-in Execution

Funding Strategy Elements of an Implementable Resolution Plan

Issues Paper on Index Based Insurance, Particularly in Inclusive Insurance Markets

Capital Treatment for Short-Term "Simple, Transparent and Comparable" Securitisations

Criteria for Identifying Short-Term Simple, Transparent and Comparable Securitisations

Regulatory Reporting and Public Transparency in Secondary Corporate Bond Markets

Frameworks for Early Supervisory Intervention

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