INTERNATIONAL

AML / KYC

Moving to a Continuous KYC Process

By Greg Watson | 23/03/2020

Greg Watson discusses how to streamline KYC reviews and move from regular 1-3-5 year reviews to perpetual KYC, managed-by-exception.

Capital / Liquidity

BCBS, FSB Support Use of Capital, Liquidity Buffers to Maintain Stability

By Editors | 22/03/2020

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.

Market Infrastructure

SWIFT Defers ISO 20022 Start Date for Cross-border Payments

By Editors | 18/03/2020

ISO 20022 messages for cross-border payments and cash reporting businesses will start from end 2022 instead of November 2021 as originally planned.

ESG / Sustainability

A Review of Post-GFC Regulatory Approaches to Bank Boards

By Editors | 18/03/2020

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.

Market Infrastructure

IMF Offers Guidance on Offsetting Economic Impact of Covid-19

By Editors | 17/03/2020

Banks should be encouraged to undertake prudent renegotiation of loan terms for stressed borrowers, but loan classification and provisioning rules should not be eased.

Capital / Liquidity

DTCC Offers Guidance on FRTB’s Risk Factor Eligibility Test

By Editors | 17/03/2020

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.

Big Picture

Wolters Kluwer, PwC Complete PoC Using AI in Regulatory Reporting

By Editors | 15/03/2020

After minutes of training, algorithms were able to use 250,000 records of previously unseen raw data to predict regulatory reporting output with degrees of accuracy exceeding 99%.

Big Picture

AI’s ‘Black Box’ Issues Can Be Addressed Through Regulation

By Editors | 12/03/2020

A new paper develops a regulatory roadmap for addressing the increasing role of AI in finance, focusing on human involvement to deal with ‘black box’ issues.

Big Picture

Major Banks’ Fee-based Revenue at Risk – Study

By Editors | 11/03/2020

Increased regulatory pressure and growing competition from new players could cost incumbent banks 5% of their revenue over the next 3-5 years, says a new report from Accenture.