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 […]
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 […]
April 2024 EMIR Refit mandates ISO 20022, UPI for messaging
Download PDF View Legal Terms Just as financial institutions are getting a handle on a raft of trade and transactions rewrites including the quite challenging CFTC Rewrite and regime changes for ASIC, JFSA, and MAS, here comes ESMA with a bombshell — EMIR Refit 2024. Like the Rewrite, the Refit necessitates processes and architecture that […]
ESG EU Taxonomy: Operational minefield for credit institutions
Download PDF View Legal Terms Today, regulators worldwide have added clarity to the burgeoning environmental, social, and governance (ESG) framework by adopting and incorporating regulations that homogenize assessment methods and disclosure requirements. One such framework, Regulation (EU) 2020/852 of the European Parliament and of the Council (EU Taxonomy), provides investors, companies, and policymakers with definitions […]
The APAC Regulatory Landscape
View Legal Terms Even as the world was just emerging after months of global lockdowns in 2022, instrumental changes were taking place in the Asia-Pacific world of regulations, triggering the need for a strategic platform transformation. With all the preparations now in place, institutions are ready to address these requirements. But in this ever-changing regulatory […]
Getting ahead of an avalanche of ESG regulatory requirements.
Download PDF View Legal Terms Financial institutions are facing unprecedented challenges with the introduction of a host of ESG regulations. Regulators are moving away from the traditional approach to now requiring a combination of financial and non-financial information to assess the credit quality and sustainability of institutions, making the need for flexible ESG monitoring and […]
EU Taxonomy: A regional ESG initiative with a global impact.
Download PDF View Legal Terms As the world grapples with the climate crisis, food scarcity, ocean acidification, among a host of abuses against the planet, corporations have moved from simply reacting to more proactively courting the public’s approval. This shift has led many market participants to explore their own initiatives to promote long-term sustainability while […]
The Basel IV Parallel Run Commences
Download PDF View Legal Terms The Basel IV Parallel Run Commences – Switzerland Paves the Way for Europe. The Swiss Financial Market Supervisory Authority (FINMA) has set out requirements for selected Swiss entities to begin parallel reporting runs in January 2023. The FINMA and Swiss National Bank (SNB) revisions reflect the final round of the […]