International

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.

Cybersecurity

FSB Consults on Cyber Incident Response and Recovery Toolkit

By Editors | 20/04/2020

The toolkit lists 46 effective practices, structured across seven components: governance, preparation, analysis, mitigation, restoration, improvement, and coordination and communication.

KYC & CDD

Wolfsberg Group Updates Correspondent Banking Due Diligence Questionnaire

By Editors | 20/04/2020

The changes are focused on improving the CBDDQ’s ease of use and readability. One question has been eliminated and some of the wording has been clarified.

Structural Regulation

MAS, ESMA Sign MOU on Singapore’s Financial Benchmarks

By Editors | 18/04/2020

The MOU and last year’s equivalence decision from the European Commission ensure that FIs in the EU can continue using SIBOR and the SOR as reference rates in their contracts.

Emerging Prudential Risks

FSB Reports to G20 on Covid-19 Financial Stability Implications

By Editors | 17/04/2020

The FSB says internationally coordinated action to support a well-functioning, resilient financial system and open markets remain a priority.

Capital Adequacy

Taken Too Far, Banking Policy Relaxations Could Backfire

By Manesh Samtani | 16/04/2020

In a new paper, the BIS’s Fernando Restoy and Claudio Borio offer three important principles to guide the assessment of Covid-19 related policy adjustments.

Cybersecurity

Fintech Risks Could Undermine Financial Inclusion

By Editors | 16/04/2020

The CPMI and World Bank have set out key actions to help stakeholders address fintech risks in the context of achieving financial inclusion outcomes.

Trading & Investment

ISDA to Add Pre-cessation Trigger to LIBOR Fallback Provisions

By Editors | 16/04/2020

A significant majority of respondents favour including both pre-cessation and permanent cessation fallbacks as standard language in the amended 2006 ISDA Definitions for LIBOR.