Australia: Prudential regulator modernizes standard on banking credit risk management

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 […]

United Kingdom: PRA consults on outsourcing and third party risk management

The Prudential Regulation Authority (PRA) is inviting comments on its proposals to modernize the regulatory framework on outsourcing and third-party risk management. The proposals are outlined in the draft Supervisory Statement on Outsourcing and third-party risk management.  The objectives include complementing the policy proposals on operational resilience in CP29/19 ‘Operational resilience: impact tolerances for important […]

Canada: OSFI publishes final version of Liquidity Principles Guideline

The Office of the Superintendent of Financial Institutions (OSFI) has released the final version of Guideline B-6 on Liquidity Principles.  Guideline B-6 sets out OSFI’s expectations around the management of liquidity risk for deposit-taking institutions.  It complements the minimum liquidity requirements set out in the Liquidity Adequacy Requirements Guideline.  Guideline B-6 was last updated in 2012.  […]

Australia: Regulator proposes to enhance transparency around banking data

The Australian Prudential Regulation Authority (APRA) is proposing substantially increasing the volume and breadth of data it makes publicly available on authorised deposit-taking institutions (ADIs). APRA notes that the move towards greater transparency and scrutiny of the banking sector is aimed at increasing accountability, supporting competition and lifting overall industry standards. From 2020, APRA proposes […]

Canada: OSFI finalizes Guideline on Foreign Bank Branch Deposit Requirement

The Office of the Superintendent of Financial Institutions (OSFI) has published Guideline A-10: Foreign Bank Branch Deposit Requirement.  Guideline A-10 addresses OSFI’s expectations with respect to the minimum deposit which authorized foreign banks must maintain in respect of their business in Canada. It establishes rules around the required deposit, including: i) the need for a […]