2016

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HKMA Supervisory Policy: Margin and Risk Mitigation: Standards for Non-Centrally Cleared OTC Derivatives

HKMA implementation of BCBS and IOSCO standards

Hong Kong Monetary Authority Supervisory Policy Module sets out minimum standards for margin and other risk mitigation techniques for non-centrally cleared over-the-counter (OTC) derivatives transactions. Module: i) covers margin standards; ii) covers risk mitigation standards; and iii) outlines HKMA's supervisory approach to margin and other risk mitigation standards for non-centrally cleared derivatives transactions and expectations regarding governance arrangements. Implements the margin requirements for non-centrally cleared derivatives issued by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) in 2013 and the risk mitigation standards for non-centrally cleared OTC derivatives issues by IOSCO in 2015.

Publisher: National Regulators Release date: Dec 2016 Country: Hong Kong, China

Type: Guideline

Parent: Risk Mitigation Standards for Non-Centrally Cleared OTC Derivatives

Peer: Margin Requirements for Non-Centrally Cleared Derivatives

Topics: Derivatives, Risk management, Corporate governance

Sectors: Banking

Supervisory Activities on CCPs Margin and Collateral Requirements

ESMA peer review on requirements applied to central counterparties

European Securities and Markets Authorities peer review on how national supervisory authorities ensure that central counterparties (CCPs) comply with margin and collateral requirements under the European Markets Infrastructure Regulation (EMIR). Review focuses on margin and collateral requirements, and identifies areas for improvement regarding risk model validation and regular reviews under ongoing supervision. Identifies areas of divergence in supervisory approaches and makes recommendations to enhance supervisory convergence.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Financial market infrastructure, Risk management, Derivatives

Sectors: Securities

Report on IOSCO Survey on Retail OTC Leveraged Products

IOSCO report on various risks related to marketing and sale of complex OTC leveraged products to retail investors

International Organization of Securities Commissions fact-finding report identifies various risks related to marketing and sale of complex OTC leveraged products to retail investors, and describes how some regulators respond to the challenges presented by these products. Analyzes offers of rolling-spot forex contracts, contracts for differences and binary options to retail investors. Report is based on survey of 21 IOSCO members regarding their experiences with leveraged OTC products, the firms that sell them, and current regulatory and supervision frameworks.

Publisher: Global Standard-Setting Bodies Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Derivatives, Transparency and disclosure, Consumer education and protection, Conduct

Sectors: Securities

Prudential Standard on Bank Liquidity Management

APRA standard for banks' management of liquidity risks

Australian Prudential Regulation Authority standard requires banks to adopt prudent practices in managing liquidity risks and to maintain an adequate level of liquidity to meet its obligations as they fall due across a wide range of operating circumstances. Key requirements that a bank must: i) have a risk management framework to measure, monitor and manage liquidity risk that is commensurate with its nature, scale and complexity; ii) maintain a portfolio of high-quality liquid assets sufficient in size to enable the institution to withstand a severe liquidity stress; and iii) maintain a robust funding structure appropriate for its size, business mix and complexity.

Publisher: National Regulators Release date: Dec 2016 Country: Australia

Type: Law, Regulation and Policy

Parent: Basel III: the Net Stable Funding Ratio, Basel III: The Liquidity Coverage Ratio and Liquidity Risk Monitoring Tools

Topics: Liquidity risk and rules, Risk management

Sectors: Banking

Joint Guidelines on the Prudential Assessment of Acquisitions and Increases of Qualifying Holdings in the Financial Sector

EBA, EIOPA and ESMA joint guidelines on the assessment of qualifying holdings in financial institutions in the EU

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority revised joint guidelines on the prudential assessment of acquisitions and increases by legal and natural persons in qualifying holdings in financial institutions: i) provide further clarity on key concepts, including indirect holdings, persons acting in concert and decision to acquire; ii) ensure a consistent interpretation of time limits by clarifying when supervisory authorities should provide an acknowledgement of receipt of notification regarding acquisitions of a qualifying holding in a financial institution and iii) clarify matters relevant to assessment of an acquisition, such as financial soundness of the proposed acquirer and suspicions of money laundering or terrorist financing.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Topics: Licensing, Money laundering and terrorist financing

Sectors: Banking, Insurance, Securities

Good Supervisory Practices for Reducing Mechanistic Reliance on Credit Ratings

EBA, EIOPA and ESMA report on good supervisory practices for reducing sole and mechanistic reliance on credit ratings

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority final report to assist sectoral supervisory authorities to: i) monitor adequacy of their supervised entities' credit risk assessment processes; ii) assess the use of contractual references to credit ratings; and iii) encourage them to mitigate the impact of any such references.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Supervisory Practice

Topics: Credit risk, Asset classification and provisioning

Sectors: Banking, Insurance, Pensions, Securities

Prudential Practice Guide on Liquidity

APRA policy sets out its' requirements for banks in relation to liquidity risk

Australian Prudential Regulation Authority sets out its' requirements and prudent practice for banks for the management and measurement of liquidity risk. Assists banks in complying with APRA requirements.

Publisher: National Regulators Release date: Dec 2016 Country: Australia

Type: Law, Regulation and Policy

Parent: Basel III: the Net Stable Funding Ratio, Basel III: The Liquidity Coverage Ratio and Liquidity Risk Monitoring Tools

Topics: Liquidity risk and rules

Sectors: Banking

Liquidity Coverage Ratio: Public Disclosure Requirements

FRB final rule to implement public disclosure requirements for liquidity coverage ratio rule

US Federal Reserve Board final rule for institutions required to calculate a liquidity coverage ratio (LCR). Institutions will be required to disclose publicly, on a quarterly basis, quantitative information about its LCR calculation and a discussion of the factors that have a significant effect on its LCR.

Release date: Dec 2016 Country: United States

Type: Law, Regulation and Policy

Topics: Liquidity risk and rules, Transparency and disclosure

Sectors: Banking

Recovery Planning: Preparing for Stress

BoE article outlines ongoing work to increase banks' resilience to stress through recovery planning

Bank of England article discusses: i) importance of recovery planning and its role in the wider post-crisis reforms; ii) design of credible recovery plan and how it may be tested; and iii) how recovery planning fits into the Prudential Regulation Authority (PRA's) supervisory approach.

Publisher: National Regulators Release date: Dec 2016 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Stress-testing, Supervisory framework

Sectors: Banking

Statement on Implementation of New Accounting Standards

IOSCO statement on new accounting standards applicable to securities issuers

International Organization of Securities Commissions statement regarding three new International Financial Reporting (IFRS) standards which are expected to significantly alter financial statements of many issuers globally. Highlights importance of implementation processes by issuers and their audit committees, and full, accurate and timely disclosures of possible impacts of adopting new standards. Also provides a series of matters for issuers, and well as their audit committees and auditors, to consider as issuers adopt the new standards and auditors perform related audit procedures.

Publisher: Global Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Securities

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Resources

382 records

HKMA Supervisory Policy: Margin and Risk Mitigation: Standards for Non-Centrally Cleared OTC Derivatives

Supervisory Activities on CCPs Margin and Collateral Requirements

Report on IOSCO Survey on Retail OTC Leveraged Products

Prudential Standard on Bank Liquidity Management

Joint Guidelines on the Prudential Assessment of Acquisitions and Increases of Qualifying Holdings in the Financial Sector

Good Supervisory Practices for Reducing Mechanistic Reliance on Credit Ratings

Prudential Practice Guide on Liquidity

Liquidity Coverage Ratio: Public Disclosure Requirements

Recovery Planning: Preparing for Stress

Statement on Implementation of New Accounting Standards

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