National Regulators

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Stress Testing Insurers During COVID-19

APRA paper sets out results and key learnings

Australian Prudential Regulation Authority report sets out results and key learnings of stress testing activities on insurers during COVID-19.

Publisher: National Regulators Release date: Aug 2021 Country: Australia

Type: Consultative, discussion and issues paper

Sectors: Insurance

Climate Change Financial Risks

APRA consultation on managing the risks of climate change

Australian Prudential Regulation Authority consultation on draft guidance to banks, insurers and superannuation trustees on managing the financial risks of climate change. The consultation will assist APRA-regulated entities in managing climate-related risks and opportunities as part of their existing risk management and governance frameworks.

Publisher: National Regulators Release date: Apr 2021

Type: Consultative, discussion and issues paper

Topics: Climate change

Sectors: Banking, Insurance, Pensions

Supervisory Guidance on Board of Directors' Effectiveness

FRB guidance to enhance the effectiveness of bank boards

US Federal Reserve Board guidance describes the key attributes of effective boards at large domestic bank holding companies and savings and loan holding companies to: i) set clear, aligned and consistent direction regarding the firm's strategy and risk appetite; ii) direct senior management regarding the board's information needs; iii) oversee and hold senior management accountable; iv) support the independence and stature of independent risk management and internal audit; and v) maintain a capable board composition and governance structure. The guidance also includes illustrative examples of effective board practices.

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

Type: Supervisory Practice

Topics: Corporate governance

Sectors: Banking

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

Compliance Risk Management Programs and Oversight at Large Banking Organizations with Complex Compliance Profiles

FRB expectations regarding independent firm-wide compliance risk management and oversight in large complex firms

US Federal Reserve Board guidance on firm-wide compliance functions. Firm-wide compliance functions manage compliance risk within and across business lines, support units, legal entities and jurisdictions of operation. Considered of particular importance for areas such as anti-money laundering, privacy, affiliate transactions and conflicts of interest. Firm-wide compliance risk management should be based on a formalized compliance program that is documented in policies, procedures and compliance risk management standards. Sets out expectations for the independence of the corporate compliance function, for compliance monitoring and testing, and corporate governance arrangements.

Publisher: National Regulators Release date: Feb 2021 Country: United States

Type: Guideline

Parent: Compliance and the Compliance Function in Banks

Topics: Compliance function, Corporate governance, Systemically important financial institutions (SIFIs)

Sectors: Banking

PRA's Senior Managers Regime

Management responsibility map for senior staff of the PRA

UK Prudential Regulation Authority publication sets out how it applies its Senior Managers Regime applicable to regulated firms to the PRA itself. The Responsibilities Map describes the PRA's management and governance arrangements and shows how responsibilities have been allocated.

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

Type: Standard

Peer: FCA's Senior Managers Regime , Strengthening Accountability in Banking

Topics: Supervisory framework, Corporate governance

Sectors: Banking, Insurance

Technology Risk Management Guidelines

MAS guidelines to promote sound practices and processes to keep pace with emerging technologies and shifts in the cyber threat landscape

Monetary Authority of Singapore revised guidelines focus on addressing technology and cyber risks in an environment of growing use by financial institutions (FIs) of cloud technologies, application programming interfaces, and rapid software development. The guidelines reinforce the importance of incorporating security controls as part of FI's technology development and delivery lifecycle, as well as in the deployment of emerging technologies.

Publisher: National Regulators Release date: Jan 2021

Type: Guideline

Topics: Risk management, Operational risk, Cyber risk, Consumer education and protection

Sectors: Banking, Insurance

Navigating Uncertainty in Climate Change

OSFI consultation promotes preparedness and resilience to climate-related risks

Office of the Superintendent of Financial Institutions consultation focuses on risks arising from climate change that could affect the safety and soundness of federally regulated financial institutions (FRFIs) and federally regulated pension plans (FRPPs).

Publisher: National Regulators Release date: Jan 2021

Type: Consultative, discussion and issues paper

Topics: Climate change

Sectors: Banking, Insurance, Pensions

The Prudential Regulation Authority's Approach to Implementation of the O-SII Buffer

PRA statement of policy on its' approach to implementation of the other systemically important institutions buffer

UK Prudential Regulation Authority implementation of the systemic risk buffer (SRB). Framework applies to large banks and specifies set of criteria for assessing the extent to which the failure or distress of an SRB institution might post a long term non-cyclical systemic or macroprudential risk. Creates methodology for measuring the criteria and giving SRB institutions a single score in relation to the criteria with a corresponding SRB rate.

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

Type: Law, Regulation and Policy

Topics: Systemic risk, Systemically important financial institutions (SIFIs), Capital adequacy, Macroprudential

Sectors: Banking

Minimum Requirement for Own Funds and Eligible Liabilities (MREL) - Buffers and Threshold Conditions

PRA supervisory statement on relationship between MREL and regulatory capital buffers and threshold conditions

UK Prudential Regulation Authority supervisory statement regarding relationship between minimum requirement for own funds and eligible liabilities (MREL) and regulatory buffers. Sets out PRA's expectations regarding relationship between MREL and PRA's Threshold Conditions, the minimum requirements that firms must meet in order to be permitted to carry on regulated activities. Role of MREL is to make resolution strategies workable by ensuring that there are equity and liabilities within the firm that can credibly absorb losses and recapitalize businesses that need to continue operating.

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

Type: Supervisory Practice

Parent: Bank Recovery and Resolution Directive (BRRD)

Topics: Capital adequacy, Recovery and resolution, Licensing

Sectors: Banking

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Resources

382 records

Stress Testing Insurers During COVID-19

Climate Change Financial Risks

Supervisory Guidance on Board of Directors' Effectiveness

Depositor and Dormant Account Protection

Compliance Risk Management Programs and Oversight at Large Banking Organizations with Complex Compliance Profiles

PRA's Senior Managers Regime

Technology Risk Management Guidelines

Navigating Uncertainty in Climate Change

The Prudential Regulation Authority's Approach to Implementation of the O-SII Buffer

Minimum Requirement for Own Funds and Eligible Liabilities (MREL) - Buffers and Threshold Conditions

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