DRSAC brings drastic changes to banks operational priorities

Download PDF View Legal Terms The environmental, social, and governance (ESG) trend — supporting corporate and individual demand to better quantify and understand the impacts of our actions on the planet — continues its march around the globe. Each region (EMEA/EU Taxonomy, APAC/ASEAN Taxonomy) or country (Australia, Canada, Hong Kong) with its own standards and […]

Rude awakening re liquidity stress testing post the SVB crisis

Download PDF View Legal Terms The dust is only just settling after the recent turmoil propagated by the rapid-fire failures of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank. Recall that the Federal Deposit Insurance Corporation (FDIC) took over SVB on March 14, 2023, and then two days later announced it would also guarantee […]

Malaysia’s New Capital Adequacy Rules — Basel III Reporting

View Legal Terms Navigating BNM’s Proposed Regulatory Capital Reform Bank Negara Malaysia (BNM), the central bank of Malaysia, recently released three exposure drafts (ED) outlining its proposed transition to Basel III reporting requirements and implementation guidance. Expected to take effect in 2025 – in less than two years’ time, BNM’s reforms aim to enhance the […]

Global Shareholding Disclosure ― Turning up the Heat

View Legal Terms The first-ever application of simplified settlement of a fineable matter under a new Dutch sanctioning system involving a Netherlands-based global asset manager has placed the spotlight on the growing shift towards a zero-tolerance policy to non-disclosure by regulators globally. The penalties for late shareholding disclosure can be significant, from censure, hefty fines, […]

FDIC Part 370 deposits reporting and ongoing bank failures

Download PDF View Legal Terms With the latest domino having fallen on May 1, 2023, many people are talking about what may be contributing to the turmoil. There is the obvious, the currently “under review” deposit-monitoring requirement by the U.S. Federal government. There is also the inadvertent; the worry among regular citizens about the safety […]

Basel IV in APAC (aka Basel III Reforms) – Finally Rolling!

Download PDF View Legal Terms Basel IV in APAC incorporates the latest and final internationally agreed-upon Basel III reforms for capital, market, credit, operational, and leverage risks, and regulatory disclosure/reporting guidelines. Notably these include major new calculation methodologies such as SA-CCR (the standardized approach for counterparty credit risk) that has gone live in most jurisdictions […]

Navigating Pillar 3-EU Taxonomy alignments and divergences

Download PDF View Legal Terms As public attention and efforts on environmental preservation and protection continue to grow, regulators around the world are responding with a host of rules and requirements that impact both financial and non-financial institutions. Previous blogs have covered the effects of the ESG EU Taxonomy — the beginning of a new […]

MT to MX Migration, An ISO 20022-Driven Messaging Challenge

Download PDF View Legal Terms The MT to MX migration — the focus of this article — is one of the most time-sensitive of many key evolutions in post-trade processing. Before delving into this topic, we invite you to peruse the newly released piece linked below. In “Going from silos and spreadsheets to optimized operational […]

7 key takeaways from fallen banks

Download PDF View Legal Terms Five financial institutions have shuttered in just five months — four in quick succession in March alone — something that has not happened in almost a century. Several remain under pressure and market scrutiny. And while the industry and media have a lot of opinions about recent events, financial institutions […]

Many CRR3 and UK Basel 3.1 deviations on the way to Basel IV

Download PDF View Legal Terms There has been significant regulatory activity since October 2021 when the European Commission published its CRR3 legislative package introducing the revised Basel III reforms (aka Basel IV) for euro-area banks. A year later, the Prudential Regulation Authority (UK EBA PRA) published CP16/22, proposing rules for the adoption of Basel IV. […]

XML Submissions Transformation Program to Go Live in 2023

View Legal Terms New Central Bank FRP v15 initiatives that streamline information gathering and processing from all financial institutions in the Philippines As regulators strive to keep pace with technological advancements, the data transmission process between financial institutions and regulatory bodies is evolving to become more seamless. This shift toward data-driven regulation is gradually replacing […]

Redundancy-free IReF benefits regulators and the regulated

Download PDF View Legal Terms After years of discussion, the European Central Bank (ECB) has settled on a concept, a design, and a timeline for an integrated reporting framework (IReF) that reduces the burden on banks, eliminates the redundancy of submitted information, and simplifies the regulatory requirements it monitors. Post the financial crisis, the scope […]