TC Notes

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Operational Resilience: The Next Frontier for Supervisors?

TC Note presents an overview of operational resilience

Toronto Centre Note: i) outlines the definition of operational resilience; ii) explains why operational resilience is important for supervisors; iii) describes how some supervisors and beginning to take a more overarching approach to operational resilience; iv) shows how supervisors can assess a financial institution's operational resilience as part of their supervision; and v) discusses how operational resilience fits within a risk-based supervisory approach.

Publisher: Toronto Centre Release date: Apr 2021

Type: TC Notes

Topics: Operational risk, Risk management

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Integrating Microprudential Supervision with Macroprudential Policy

TC Note explains macroprudential approach and how it differs from traditional microprudential supervision

Toronto Centre Note explains why the macro and microprudential approaches and disciplines have to be integrated for the effective oversight of individual institutions and the financial system as a whole. It explains why the microprudential authority will need to be deeply involved in the macroprudential approach and how the macroprudential approach modifies the approach to microprudential supervision. It outlines a framework for integrating microprudential supervision with macroprudential policy.

Publisher: Toronto Centre Release date: Mar 2021

Type: TC Notes

Topics: Macroprudential

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Blended Finance: Implications for Supervisors

TC Note provides overview of blended finance for EMDC supervisors

Toronto Centre Note provides an overview of blended finance debates, considerations, and issues of interest for emerging markets and developing countries (EMDC) financial supervisors. It examines the constraints on the growth of blended finance in EMDCs, including possible regulatory barriers, and it explores the role that supervisors can play in supporting the expansion of blended finance while maintaining the soundness of the financial sector.

Publisher: Toronto Centre Release date: Jan 2021

Type: TC Notes

Topics: Financial inclusion

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

How Has Supervision Responded to Climate Change-Related Financial Risks?

TC Note sets out some international initiatives on climate change-related financial risks

Toronto Centre Note outlines some of the international initiatives focusing on climate change-related financial risks and sustainable financing, and highlights some of the specific areas on which national authorities should focus.

Publisher: Toronto Centre Release date: Dec 2020

Type: TC Notes

Topics: Climate change , Risk management

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Cloud Computing: Issues for Supervisors

TC Note discusses benefits of cloud computing

Toronto Centre Note contrasts the observed and potential benefits of cloud computing outsourcing with the supervisory concerns that its growth raises, particularly from the perspective of EMDE supervisors. It discusses the regulatory and supervisory responses and highlights next steps for supervisors.

Publisher: Toronto Centre Release date: Nov 2020

Type: TC Notes

Topics: Cyber risk, Operational risk, FinTech

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

IFRS 17 Insurance Contracts: What Supervisors Need to Know

TC note discusses amendments to IFRS

Toronto Centre Note covers the amendments to IFRS 17 issued in June 2020 (see Appendix 1) and the plans that insurance supervisors need to develop and implement to facilitate a smooth transition to IFRS 17. It is based upon the final Standard as amended and a review of publicly-available resources to glean the insights of insurers and professionals involved in the implementation of IFRS 17. This Note discusses: i) how the key features of the Standards have been designed to meet the IASB's objectives; ii) the potential implications for insurers applying IFRS 17; iii) considerations of the adoption of IFRS 17 for regulatory and supervisory purposes based on the guidance of the Insurance Core Principles (ICPs) of the IAIS; and iv) the need for supervisors to understand the impact and steps to ensure preparedness and adequate supervisory oversight of transition and implementation.

Publisher: Toronto Centre Release date: Nov 2020

Type: TC Notes

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Insurance

Supervision of Money Laundering and Terrorist Financing

TC note on AML/CFT supervision

Toronto Centre Note provides guidance for the supervision of the implementation by financial institutions (FIs) of their obligations to implement measures to combat money laundering (ML) and terrorist financing (TF). It focuses on the actions to be taken by supervisors to ensure implementation of these obligations.

Publisher: Toronto Centre Release date: Oct 2020

Type: TC Notes

Topics: Money laundering and terrorist financing, Risk-based supervision

Sectors: Banking, Insurance, Securities

Exit Policy: Taking Supervisory Action to Deal with Non-Viable Financial Institutions

TC note discusses the most significant principles related to exit decisions

Toronto Centre Note pulls together the most significant principles related to exit decisions, including those providing the foundation for an exit decision that may ultimately be required. It is intended to help supervisory authorities, especially in jurisdictions where in-house resources are not extensive, to put in place an exit policy that will serve as a pragmatic guide to taking action to deal with failing financial institutions efficiently and confidently when the need arises. The Note also discusses the challenges of determining when an institution may be approaching a state of non-viability or be non-viable.

Publisher: Toronto Centre Release date: Oct 2020

Type: TC Notes

Peer: Recovery Planning , Resolution: Implications for Supervisors

Topics: Recovery and resolution

Sectors: Banking, Insurance, Pensions, Securities

Guide to Supervision in the COVID-19 World

TC Guide provides a framework for all financial supervisors and regulators to address the immediate and the longer-term consequences of COVID-19 on their financial sectors

Toronto Centre Guide to supervision in the aftermath of COVID-19 is intended to help the leadership of financial supervisory authorities to determine the implications of COVID-19 for how they undertake their supervision of financial institutions and financial markets. It complements and builds upon Toronto Centre Notes and webinars relating to the impact of the COVID-19 outbreak.

Publisher: Toronto Centre Release date: Sep 2020

Type: TC Notes

Topics: COVID-19

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Recovery Planning

TC Note discusses standards for recovery planning

Toronto Centre Note describes the standards for recovery planning, discusses how supervisors can monitor whether financial institutions are meeting these standards, and outlines the supervisory actions that can be taken by supervisors to improve a financial institution's recovery planning.

Publisher: Toronto Centre Release date: Aug 2020

Type: TC Notes

Peer: Recovery and Resolution Planning: Implications for Supervisors , Exit Policy: Taking Supervisory Action to Deal with Non-Viable Financial Institutions , Resolution: Implications for Supervisors

Topics: Recovery and resolution

Sectors: Banking, Insurance, Pensions, Securities

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Resources

382 records

Operational Resilience: The Next Frontier for Supervisors?

Integrating Microprudential Supervision with Macroprudential Policy

Blended Finance: Implications for Supervisors

How Has Supervision Responded to Climate Change-Related Financial Risks?

Cloud Computing: Issues for Supervisors

IFRS 17 Insurance Contracts: What Supervisors Need to Know

Supervision of Money Laundering and Terrorist Financing

Exit Policy: Taking Supervisory Action to Deal with Non-Viable Financial Institutions

Guide to Supervision in the COVID-19 World

Recovery Planning

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