The Conference of State Bank Supervisors has published an accountability report on financial technology companies (fintechs) initiatives. The report outlines progress made on a series of initiatives to streamline state licensing and supervision of fintechs. A copy of the report can be accessed here. Photo Credit: Pixabay
The Bank of England has published a discussion paper, “Transforming data collection from the UK financial sector.” The paper is aimed at improving the timeliness and effectiveness of data collection from firms across the financial system. The paper outlines issues facing the current data collection system. It also identifies and explores a series of potential […]
The Central Bank of Nigeria has issued Consumer Protection Framework (Framework) for the financial services industry. The Framework is aimed at enhancing consumer confidence in the industry and promoting financial stability, growth and innovation. The CBN requires regulated institutions to develop policies, to be approved by their respective Boards, to ensure compliance with the Framework […]
The Arab Monetary Fund (AMF) has published Digital Identity and e-KYC Guidelines in the Arab Region for public consultation. Prepared by AMF’s Regional FINTECH Working Group, stakeholders are to provide comments on the draft guidelines by January 20, 2020. Further details are available here. Photo Credit: Pixabay
The Bank of England is consulting on its proposed framework for the 2021 Biennial Exploratory Scenario (BES) exercise, in relation to climate-related risks. The objective of the BES is to test the resilience of the largest banks and insurers (firms) to the physical and transition risks associated with different possible climate scenarios. The BES will […]
The Central Bank of Iceland has amended the rules on liquidity coverage requirements for credit institutions. Currently, credit institutions’ liquidity ratio in all currencies combined is required to be at least 100% at all times. In addition, their liquidity ratio in all foreign currencies must similarly be at least 100% at all times. The amendment […]
The Australian Prudential Regulation Authority (APRA) has released an updated prudential standard on credit risk management requirements for authorised deposit-taking institutions. The updated standard addresses recommendation 1.12 from the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. As recommended by the Royal Commission, APRA has amended APS […]
