2018

382 records

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Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing

FDIC, FinCen, OCC and Federal Reserve statement on banks' approaches to meet their BSA/AML compliance obligations

Federal Reserve Board, Federal Deposit Insurance Corporation, Financial Crimes Enforcement Network, National Credit Union Administration and Office of the Comptroller of the Currency statement encourages banks to consider, evaluate, and where appropriate, responsibly implement innovative approaches to meet their Bank Secrecy Act/anti-money laundering (BSA/AML) compliance obligations.

Publisher: National Government Release date: Dec 2018 Country: United States

Type: Consultative, discussion and issues paper

Topics: Money laundering and terrorist financing

Sectors: Banking

The Bank of England's Approach to Assessing Resolvability

BoE proposal to introduce new Resolvability Assessment Framework

Bank of England consultation sets out: i) how the Bank proposes to assess resolvability as part of the Resolvability Assessment Framework; ii) how the Bank proposes to treat transparency over the resolvability of individual firms by making a public statement on resolvability; and iii) a draft statement of policy setting out policy where the Bank is consulting on new requirements for firms.

Publisher: National Regulators Release date: Dec 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Transparency and disclosure, Recovery and resolution

Sectors: Banking

Deadline for comments: Apr 2019

Resolution Assessment and Public Disclosure by Firms

PRA proposed rules for large banks

UK Prudential Regulation Authority consultation sets out proposed rules for large UK banks. Proposed rules would require banks to: i) carry out realistic assessment of preparations for resolution; ii) include analysis of how it understands it would be resolved; iii) submit an assessment report to the PRA every two years; and iv) publicly disclose summaries of its report.

Publisher: National Regulators Release date: Dec 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Recovery and resolution, Systemically important financial institutions (SIFIs)

Sectors: Banking

Deadline for comments: Apr 2019

Guidelines on Disclosure of Non-Performing and Forborne Exposures

EBA guidelines provide better picture of the quality of the banks' assets

European Banking Authority guidelines set enhanced disclosure requirements and uniform disclosure formats applicable to credit institutions' public disclosure of information regarding non-performing exposures, forborne exposures and foreclosed assets.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2018

Type: Guideline

Peer: Supervisory Reporting on Forbearance and Nonperforming Exposures , Guidelines on Management of Non-Performing and Forborne Exposures

Topics: Credit risk, Transparency and disclosure, Accounting, actuarial and auditing , Asset classification and provisioning

Sectors: Banking

Cyber-resilience: Range of Practices

BCBS report discusses bank cyber-resilience practices across jurisdictions

Basel Committee on Banking Supervision report identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions. Discusses: i) cyber-resilience standards and guidelines; ii) cyber-governance; iii) approaches to risk management, testing and incident response and recovery; iv) communication and sharing of information; and v) interconnections with third parties.

Publisher: Global Standard-Setting Bodies Release date: Dec 2018

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Operational risk

Sectors: Banking

Supervision of Cyber Risk

TC Note provides broad discussion of cyber risk and sets out framework for its supervision

TC Note sets out the nature of cyber risk and outlines the fundamental elements of a framework for implementing an effective supervision program for cyber risk assessment in regulated financial institutions. Discusses how supervisors may assess institutions' governance policies and practices for cyber risk management.

Publisher: Toronto Centre Release date: Dec 2018

Type: TC Notes

Peer: FinTech, RegTech and SupTech: What They Mean for Financial Supervision

Topics: Cyber risk, FinTech, Operational risk

Sectors: Banking, Insurance, Pensions, Securities

Regulating and Supervising the Clouds

FSI report on emerging prudential approaches for insurance companies

Financial Stability Institute paper outlines emerging regulatory and supervisory approaches that 14 authorities have implemented to deal with the risks posed by cloud computing. In some cases, authorities have issued cloud-specific recommendations and guidance, with a special emphasis on information security, data confidentiality, recovery and resumption capabilities and audit rights. Insurers' cloud computing activities are generally included in the supervision of operational risks. In addition, authorities are making increasing use of thematic reviews and informal contacts with cloud providers.

Publisher: International Organizations Release date: Dec 2018

Type: Consultative, discussion and issues paper

Topics: Cyber risk

Sectors: Insurance

Cyber Lexicon

FSB lexicon of key terms related to cyber security and cyber resilience in the financial sector

Financial Stability Board common lexicon of terms to support work of standard setting bodies and national authorities in dealing with cyber risk.

Publisher: Global Standard-Setting Bodies Release date: Nov 2018

Type: Consultative, discussion and issues paper

Topics: Cyber risk, FinTech

Sectors: Banking, Insurance, Pensions, Securities

Principles to Promote Fairness, Ethics, Accountability and Transparency in the Use of Artificial Intelligence and Data Analytics

MAS guidance on the responsible use of artificial intelligence and data analytics

Monetary Authority of Singapore principles provide guidance to firms offering financial products and services on the responsible use of artificial intelligence and data analytics to strengthen internal governance around data management and use.

Publisher: National Regulators Release date: Nov 2018 Country: Singapore

Type: Consultative, discussion and issues paper

Topics: Cyber risk, FinTech, Corporate governance

Sectors: Banking, Insurance, Pensions, Securities

Prudential Standard on Information Security

APRA prudential requirements for addressing cyber risk and other information security threats

Australian Prudential Regulation Authority standard to minimize the likelihood and impact of information security incidents on the confidentiality, integrity or availability of information assets, including those managed by related parties or third parties.

Publisher: National Regulators Release date: Nov 2018 Country: Australia

Type: Standard

Topics: Cyber risk, FinTech, Operational risk

Sectors: Banking, Insurance, Pensions

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Resources

382 records

Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing

The Bank of England's Approach to Assessing Resolvability

Resolution Assessment and Public Disclosure by Firms

Guidelines on Disclosure of Non-Performing and Forborne Exposures

Cyber-resilience: Range of Practices

Supervision of Cyber Risk

Regulating and Supervising the Clouds

Cyber Lexicon

Principles to Promote Fairness, Ethics, Accountability and Transparency in the Use of Artificial Intelligence and Data Analytics

Prudential Standard on Information Security

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