Global Standard-Setting Bodies

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Cyber-resilience: Range of Practices

BCBS report discusses bank cyber-resilience practices across jurisdictions

Basel Committee on Banking Supervision report identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions. Discusses: i) cyber-resilience standards and guidelines; ii) cyber-governance; iii) approaches to risk management, testing and incident response and recovery; iv) communication and sharing of information; and v) interconnections with third parties.

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

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Operational risk

Sectors: Banking

Cyber Lexicon

FSB lexicon of key terms related to cyber security and cyber resilience in the financial sector

Financial Stability Board common lexicon of terms to support work of standard setting bodies and national authorities in dealing with cyber risk.

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

Type: Consultative, discussion and issues paper

Topics: Cyber risk, FinTech

Sectors: Banking, Insurance, Pensions, Securities

Application Paper on the Use of Digital Technology in Inclusive Insurance

IAIS guidance on regulations and supervisory practices regarding digital technology in inclusive insurance

International Association of Insurance Supervisors application paper discusses use of digital technology, FinTech and InsurTech in inclusive insurance. Paper: i) describes typical inclusive insurance market and typical inclusive insurance customer; ii) describes use and implications of digital technology with inclusive insurance markets; and iii) provides application guidance on the relevant internationally-agreed Insurance Core Principles regarding the use of digital technology in inclusive insurance.

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

Type: Guideline

Peer: Issues Paper on Conduct of Business in Inclusive Insurance

Topics: Financial inclusion, Consumer education and protection, FinTech

Sectors: Insurance, Microinsurance

The Basel Framework in 100 Jurisdictions: Implementation Status and Proportionality Practices

FSI report sets out how authorities are implementing international standards in a proportionate manner

Financial Stability Institute report sets out current state of implementation of key Basel standards and outlines associated proportionality practices in 100 jurisdictions that are not members of the Basel Committee on Banking Supervision (BCBS). Report includes a range of proportionality practices applied in non-BCBS jurisdictions.

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

Type: Consultative, discussion and issues paper

Topics: Risk-based supervision, Transparency and disclosure, Capital adequacy, Liquidity risk and rules, Market risk, Operational risk

Sectors: Banking

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

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Resources

382 records

Cyber-resilience: Range of Practices

Cyber Lexicon

Application Paper on the Use of Digital Technology in Inclusive Insurance

The Basel Framework in 100 Jurisdictions: Implementation Status and Proportionality Practices

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

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