Operational Risk

CBDCs

BIS Issues Security and Resilience Framework for CBDC Systems

By Manesh Samtani | 10/07/2023

The framework offers a seven step model to guide central banks in designing, implementing and operating secure and resilient CBDC systems.

Emerging Prudential Risks

BCBS Proposes Revisions to Core Principles for Effective Banking Supervision

By Manesh Samtani | 06/07/2023

The amendments cover a wide range of topics, addressing climate, digitalisation, interest rate risk, cyber risk, counterparty credit risk, and bank culture.

Cybersecurity

APRA Reveals Early Results from Cybersecurity Assessments

By Sanday Chongo Kabange | 05/07/2023

APRA identified six common control gaps in the first tranche of CPS 234 assessments, and offers recommendations to address them.

Operational Risk

APRA Fines BNK Banking Corp for Late Reporting of EFS Data

By Sanday Chongo Kabange | 04/07/2023

APRA said BNK Banking Corporation was 32 days late in filing statistical reports for the month ending 28 February 2023.

Operational Risk

RBI Sets Capital Requirements for Operational Risk

By Ranamita Chakraborty | 04/07/2023

Commercial banks in India will be required to explain their policies, frameworks, and guidelines for managing operational risk.

Capital Adequacy

EU Reaches Provisional Agreement on Basel III Implementation

By Manesh Samtani | 28/06/2023

Elements of the final Basel III reforms would be phased in starting in January 2025, two years after the globally agreed deadline.

Operational Risk

APRA Imposes Capital Charge on Medibank Over 2022 Hack

By Sanday Chongo Kabange | 27/06/2023

APRA has decided to increase Medibank’s capital adequacy requirement for operational risk by A$250mn.

Data Privacy

FSA, BOJ Offer Update on Joint Data Collection Project

By Mark Johnston | 26/06/2023

In the second half of fiscal 2023, regulators will use the new platform to start collecting “highly granular data on corporate lending” in stages, the FSA said.

Cybersecurity

CFTC to Propose Rule on Operational and Cyber Resilience

By Editors | 23/06/2023

CFTC commissioner sees a need for the industry to shift “from incident response to cyber resilience”. New rule will be proposed in the next few months.