International

Operational Risk

Legacy Systems, Poor Data Quality Hindering BCBS 239 Adoption

By Manesh Samtani | 29/04/2020

Some banks have changed their BCBS 239 implementation strategies to comprehensively improve data quality, but this will take considerable time to resolve.

Data Privacy

Privacy Concerns, Bank Mistrust Lead to Higher Cash Use: Study

By Editors | 28/04/2020

The findings suggest that government policy to promote electronic payments may have to address fundamental concerns about privacy and confidence in financial institutions.

KYC & CDD

Digital Identification in a Post-COVID World

By Editors | 28/04/2020

Social distancing has put KYC into sharp focus, with regulators reiterating their support for digital onboarding to ensure financial transactions are possible.

AI Risk & Governance

FMSB Publishes Spotlight Review on Algorithmic Trading

By Editors | 23/04/2020

The Spotlight Review highlights the importance and challenges of model risk management in areas where algorithmic trading is being deployed.

Structural Regulation

Bloomberg Publishes Rulebook on IBOR Fallback Methodology

By Editors | 23/04/2020

The rulebook’s final methodology, rules and conventions are based on the results of four market-wide consultations ISDA conducted between 2018 and 2020.

PEPs & Sanctions

US Agencies Issue Alert on North Korea Cyber Threat

By Manesh Samtani | 22/04/2020

The advisory highlights the powers US agencies have to subpoena foreign FIs that maintain a correspondent bank account in the US to gain access to customer records stored overseas.

Structural Regulation

ARRC Sets Out 2020 Objectives for LIBOR to SOFR Switch

By Editors | 22/04/2020

The ARRC will establish final recommended conventions for SOFR-based floating rate notes, business loans, and securitisations by 31 July.

Credit Risk

ECB Officials Push for ‘Bad Bank’ to Clean Up NPLs – Report

By Editors | 21/04/2020

ECB officials are concerned that the coronavirus pandemic will trigger a surge in NPLs that could hamper banks’ ability to lend.

Conduct, Culture & Accountability

A Focus on Governance, Stewardship, and Engagement

By Siew Kai Choy | 20/04/2020

Boards must prioritise and assess culture as a strategic asset, and develop an appreciation for how it may lead to behaviour with material consequences, says Siew Kai Choy.