TC Notes

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The COVID-19 Pandemic: Supervisory Implications and Priorities for Islamic Banking

TC Note considers implications of COVID-19 as it affects Islamic finance

Toronto Centre Note discusses seven potential implications and priorities for supervisors regulating Islamic banks in response to the COVID-19 pandemic in dual banking systems: i) ensuring supervisory transparency, clarity in regulatory interventions, and a level playing field for Islamic banks; ii) navigating a tricky trade-off between regulatory capital requirements and economic growth; iii) managing Islamic banks' asset quality and the treatment of moratoria and non-performing financing; iv) dealing with a liquidity crunch and providing Shariah-compliant liquidity support and lender-of-last-resort facilities; v) providing supervisory support for issuing sovereign Sukuk for fiscal deficits; vi) evaluating stress testing and credit quality; and vii) reviewing financial safety nets and insolvency regimes for Islamic banks.

Publisher: Toronto Centre Release date: May 2020

Type: TC Notes

Topics: Crisis management and contingency planning, Islamic finance, Stress-testing

Sectors: Banking

Supervising Corporate Governance During Crises

TC Note considers implications of COVID-19 outbreak on corporate governance of supervised firms

Toronto Centre Note sets out the main issues that boards and senior management of supervised firms need to address as a result of the COVID-19 outbreak. The broad conclusion is that sound corporate governance is more essential than ever.

Publisher: Toronto Centre Release date: Apr 2020

Type: TC Notes

Topics: Crisis management and contingency planning, Corporate governance

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

Supervisory Responses to the Impact of COVID-19 on Credit Quality

TC note discusses immediate and long-term options for banking supervisors in light of COVID-19

Toronto Centre Note discusses some of the immediate and medium-term options for banking supervisors in response to the COVID-19 outbreak. It covers the application of accounting standards, the calculation of regulatory capital, and some practical advice for the actions that supervisors should be taking. One key message to supervisors is that they should ensure that banks are judicious in the use they make of the flexibility offered by accounting standards.

Publisher: Toronto Centre Release date: Apr 2020

Type: TC Notes

Topics: Crisis management and contingency planning, Accounting, actuarial and auditing , Capital adequacy

Sectors: Banking

Business Continuity Planning for a Supervisory Authority

TC Note sets out key elements of a BCP

Toronto Centre Note outlines the key elements of a Business Continuity Plan (BCP) and relates these to the specific circumstances of a supervisory authority. It provides a starting point for a supervisory authority wanting to construct a BCP, or to review and revisit its existing BCP.

Publisher: Toronto Centre Release date: Apr 2020

Type: TC Notes

Topics: Crisis management and contingency planning

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

Ten Issues for Supervisors During Crises

TC note discusses main issues to be considered during a crisis

Toronto Centre Note sets out the main issues that supervisors need to consider in a crisis and offers suggestions for how these might be addressed, both generally and in the current crisis. Most supervisory authorities will already be doing much of this in response to the COVID-19 outbreak. The Note aims to provide a reference point that can be used when taking stock of whether supervisory authorities are doing all the right things, whether they need to do more, or to do some things differently.

Publisher: Toronto Centre Release date: Apr 2020

Type: TC Notes

Topics: Crisis management and contingency planning

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

Designing and Implementing a Systematic Financial Crisis Management Simulation

TC note provides useful background for jurisdictions that may be interested in organizing a SWFCMS

Toronto Centre Note provides background on the design and implementation of bespoke system-wide financial crisis management simulations (SWFCMS) intended to test system-wide responses to financial sector crises.

Publisher: Toronto Centre Release date: Mar 2020

Type: TC Notes

Peer: Crisis Binder: An Essential Tool for Crisis Preparedness

Topics: Crisis management and contingency planning

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

Coronavirus and the Financial Sector

TC Discussion Note on implications of the coronavirus for supervisors

Toronto Centre Discussion Note sets out background to the coronavirus and its impact on the financial sector and the real economy. It concludes with implications for supervisors.

Publisher: Toronto Centre Release date: Mar 2020

Type: TC Notes

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

Risk-Based Supervision for Securities Supervisors (and Other Supervisors of Small Firms)

TC note to help securities supervisors to develop and implement a risk-based, forward-looking and proactive approach to supervision

Toronto Centre Note discusses the application of risk-based supervision to major securities firms; to stock exchanges and other financial market infrastructure; and to the responsibilities of securities supervisors with respect to listed firms and market abuse. It also develops a risk-based approach to small firms which individually may have low impact. The existence of large numbers of small firms is not unique to the securities sector, but it is more common in the securities sector.

Publisher: Toronto Centre Release date: Feb 2020

Type: TC Notes

Topics: Risk-based supervision

Sectors: Securities

Supervisory Responses to Retail Misconduct

TC note suggests that relevant authorities re-think their priorities, institutional structures, regulatory requirements and supervisory interventions regarding retail misconduct

Toronto Centre Note: i) alerts supervisors to the structural and behavioural triggers of retail misconduct, considering the context of their own economies, industries and portfolios of supervised institutions; ii) explores the institutional causes that contribute to retail misconduct and the need to identify and response to these as early as possible; iii) considers the role of whistle-blowers and how they might be enlisted in preventing and addressing retail misconduct; iv) explains the responses to date and their limited usefulness; v) lists possible supervisory actions; and vi) discusses the likely emerging future scenario.

Publisher: Toronto Centre Release date: Jan 2020

Type: TC Notes

Peer: Conduct Supervision

Topics: Conduct, Consumer education and protection

Supervising FinTech to Promote Financial Inclusion

TC note sets out ways to enhance benefits of FinTech for financial inclusion and gender equality

Toronto Centre Note discusses how financial regulation and supervision can enhance the benefits of FinTech for financial inclusion and gender equality, taking into consideration the roles of incumbent financial institutions and new entrants, the roles of supervisors and regulators, and the varying experiences of different jurisdictions.

Publisher: Toronto Centre Release date: Dec 2019

Type: TC Notes

Topics: FinTech, Financial inclusion, Gender equality

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

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Resources

382 records

The COVID-19 Pandemic: Supervisory Implications and Priorities for Islamic Banking

Supervising Corporate Governance During Crises

Supervisory Responses to the Impact of COVID-19 on Credit Quality

Business Continuity Planning for a Supervisory Authority

Ten Issues for Supervisors During Crises

Designing and Implementing a Systematic Financial Crisis Management Simulation

Coronavirus and the Financial Sector

Risk-Based Supervision for Securities Supervisors (and Other Supervisors of Small Firms)

Supervisory Responses to Retail Misconduct

Supervising FinTech to Promote Financial Inclusion

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