National Regulators

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Policy on UK Leverage Ratio Framework

PRA policy statement on rules for UK leverage ratio framework

UK Prudential Regulation Authority policy statement on UK leverage ratio framework. Framework addresses risk of excessive leverage for group of firms that are most systemically important in terms of size and critical services provided to UK economy, whose individual failure could cause adverse effects on stability of UK financial system.

Publisher: National Regulators Release date: Dec 2015 Country: United Kingdom

Type: Law, Regulation and Policy

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

Sectors: Banking

Report of Findings of Consultation with Board Directors

Results of consultations with board directors on OSFI's effectiveness as a regulator and supervisor

Office of the Superintendent of Financial Institutions of Canada study to explore board director impressions of OSFI in discharge of a number of key elements of its mandate as a prudential regulator. Overall impressions were positive and largely based on perceptions that OSFI: i) is providing value in its dealings with regulated entities; ii) has a depth of knowledge about companies and institutions it regulates; iii) has an understanding of marketplace issues; and iv) that its interactions with regulated entities are professional and non-adversarial. Areas identified for improvement include perceived need to: i) share more examples of best practices; ii) provide feedback on submissions; and iii) refrain from always being among the first jurisdictions to adopt new international regulatory standards.

Publisher: National Regulators Release date: Nov 2015 Country: Canada

Type: Supervisory Practice

Topics: Corporate governance, Supervisory framework

Sectors: Banking, Insurance

Stress Testing Banks: Whence and Whither?

FDIC overview of recent practice of stress testing focuses on capital adequacy

Federal Deposit Insurance Corporation discussion paper argues that stress testing has been successfully used to: i) mitigate bank opacity; ii) quantify systemic risk under extreme but plausible stress; iii) keep banks mindful of severely adverse shocks, thereby mitigating "disaster myopia" and concomitant financial instability; and iv) improve data collection and analytical capabilities of financial institutions. Proposes several modifications of current stress-testing practice.

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

Type: Consultative, discussion and issues paper

Topics: Capital adequacy, Stress-testing

Sectors: Banking

Own Risk and Solvency Assessment (ORSA)

OSFI guidelines on expectations with respect to the ORSA of insurers

Office of the Superintendent of Financial Institutions of Canada guideline outlines its expectations with respect to an insurer's own assessment of its risks, capital needs and solvency position, and for setting Internal Targets, based on an insurer's Own Risk and Solvency Assessment.

Publisher: National Regulators Release date: Nov 2015 Country: Canada

Type: Guideline

Topics: Capital adequacy, Risk management, Corporate governance

Sectors: Insurance

FCA Regulatory Sandbox

Report sets out FCA's plans to implement a regulatory sandbox

UK Financial Conduct Authority report on the feasibility and practicalities of developing a regulatory sandbox that is a "safe place" where businesses may test innovative products, services, business models and delivery mechanisms. Sets out plans for implementing the sandbox and proposals for how the FCA can work with industry and government to further support businesses.

Publisher: National Regulators Release date: Nov 2015 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure, Compliance function

Sectors: Banking, Insurance, Pensions, Securities

Approach to Stress Testing the UK Banking System

BOE document sets out the main features of its stress-testing framework to 2018

Bank of England's aim over next three years is to i) develop a stress testing approach that is explicitly countercyclical with severity of the test and associated regulatory capital buffers varying systematically with state of the financial cycle; ii) improve consistency between the stress test and the overall capital framework including by ensuring systemically important banks are held to higher standards, and; iii) enhance its own modeling capability while ensuring participating banks play a key role in producing their own projections of the impact of the stress. Key features of the approach include: i) an annual stress test of banks each year using a scenario whose severity will reflect policymakers’ assessment of the state of the financial cycle; ii) every other year a second scenario will explore a wider range of risks to financial stability; iii) an integrated framework for deliberations and decisions on setting capital buffers for the system and individual banks; and, iv) a framework for determining whether individual banks need to strengthen their capital including a ‘hurdle rate’ framework that aligns with the overall capital framework.

Publisher: National Regulators Release date: Oct 2015 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Stress-testing, Capital adequacy, Macroprudential, Systemically important financial institutions (SIFIs)

Sectors: Banking

Media Announcement of the Failure and Resolution of Danish Bank

Danish Finansiel Stabilitet description of its actions to resolve a bank pursuant to the EU BRRD

Finansiel Stabilitet announcement of its assumption and control of Andelskassen J.A.K. Slagelse. Company failed to meet solvency requirements set out by the Danish Financial Supervisory Authority. Finansiel Stabilitet acted pursuant to the Danish Act on Restructuring and Resolution of Certain Financial Businesses which implements the European Union Bank Recovery and Resolution Directive (BRRD).

Publisher: National Regulators Release date: Oct 2015 Country: Denmark

Type: Supervisory Practice

Topics: Recovery and resolution, Early intervention and enforcement, Transparency and disclosure

Sectors: Banking

Effective Resolution Regime for Financial Institutions in Hong Kong

HKMA, SFC and IA response to public consultation to establish cross-sector resolution regime for financial institutions

Hong Kong Monetary Authority, Securities and Futures Commission and Insurance Authority consultation response to second stage public consultation on proposals to establish cross-sector resolution regime for financial institutions, financial groups and financial market infrastructure in Hong Kong. Summarizes respondents’ views on proposals and sets out government’s responses along with refined policy positions of proposed resolution regime.

Publisher: National Regulators Release date: Oct 2015 Country: Hong Kong, China

Type: Consultative, discussion and issues paper

Parent: Key Attributes of Effective Resolution Regimes for Financial Institutions

Peer: An Effective Resolution Regime For Financial Institutions In Hong Kong: Second Consultation Paper

Topics: Recovery and resolution

Sectors: Banking, Insurance, Pensions, Securities

Proposed Amendments to MAS Notice on Prevention of Money Laundering and Countering the Financing of Terrorism – Holders of Stored Value Facilities

MAS consultation on evolving SVF landscape

Monetary Authority of Singapore proposed amendments address evolving stored value facilities (SVF) landscape and enhance MAS' surveillance of SVFs by requiring all holders (e.g. banks and others offering stored value products to customers) to comply with a notification regime informing MAS of their intent to offer a new SVF or make changes to the product. Also excepts certain pre-defined classes of SVFs which pose low money-laundering/terrorist financing risks from AML/CFT requirements.

Publisher: National Regulators Release date: Oct 2015 Country: Singapore

Type: Consultative, discussion and issues paper

Topics: Money laundering and terrorist financing, Risk management

Sectors: Banking, Insurance, Securities

Composite Risk Rating and Assessment Criteria

OSFI assessment criteria to guide supervisory judgments in determining an institution's Composite Risk Rating

Office of the Superintendent of Financial Institutions of Canada update of criteria used to develop Composite Risk Rating (CRR) of an institution. Updates reflect enhancements made to OSFI's Supervisory Framework in 2010.

Publisher: National Regulators Release date: Oct 2015 Country: Canada

Type: Supervisory Practice

Parent: Supervisory Framework

Topics: Risk-based supervision, Supervisory framework

Sectors: Banking, Insurance

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Resources

382 records

Policy on UK Leverage Ratio Framework

Report of Findings of Consultation with Board Directors

Stress Testing Banks: Whence and Whither?

Own Risk and Solvency Assessment (ORSA)

FCA Regulatory Sandbox

Approach to Stress Testing the UK Banking System

Media Announcement of the Failure and Resolution of Danish Bank

Effective Resolution Regime for Financial Institutions in Hong Kong

Proposed Amendments to MAS Notice on Prevention of Money Laundering and Countering the Financing of Terrorism – Holders of Stored Value Facilities

Composite Risk Rating and Assessment Criteria

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