The implementation date of the outstanding Basel III standards will be deferred by one year to 1 January 2023 to free up operational capacity for banks and supervisors.
Without a delay, smaller entities will almost certainly be shut out of the derivatives market, denying them the ability to manage risk when they need it most, says ISDA chief Scott O'Malia.
Preliminary analysis concludes that the Principles for Financial Market Infrastructures could apply to the global stablecoin arrangements, among other principles and standards.
Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.
Greg Watson discusses how to streamline KYC reviews and move from regular 1-3-5 year reviews to perpetual KYC, managed-by-exception.
Using capital resources to support the real economy and absorb losses should take priority over discretionary distributions. HQLA stocks should be used to meet liquidity demands.
ISO 20022 messages for cross-border payments and cash reporting businesses will start from end 2022 instead of November 2021 as originally planned.
Of the 19 jurisdictions surveyed, all prescribe 'fit and proper' criteria to assess bank board members, however some authorities have no regulatory powers to approve their appointments.
Banks should be encouraged to undertake prudent renegotiation of loan terms for stressed borrowers, but loan classification and provisioning rules should not be eased.
Access to robust, high-quality price observation data is key to compliance with FRTB requirements to test the eligibility of the risk factors used in internal models.