Bank regulation

EBA consults on technical elements for the implementation of the alternative standardised approach for market risk as part of its FRTB roadmap

Retrieved on: 
Friday, March 12, 2021
Financial services, Finance, Actuarial science, Money, Capital requirement, Financial law, Bank regulation, FRTB, Market risk, Credit risk

These draft RTS are part of the phase 3 deliverables of the EBA roadmap for the new market and counterparty credit risk approaches.

Key Points: 
  • These draft RTS are part of the phase 3 deliverables of the EBA roadmap for the new market and counterparty credit risk approaches.
  • The consultation papers published today provide technical specifications for the implementation of these two elements.
  • In particular, the draft RTS on gross JTD amounts specify the key inputs needed for computing own funds requirements for default risk under the FRTB-SA.
  • These RTS also clarify that longevity risk, weather, natural disasters and future realised volatility should all be considered as exotic underlyings.

Advancing a more resilient and proportional banking regulatory framework in Canada

Retrieved on: 
Thursday, March 11, 2021
Finance, Financial services, Money, Bank regulation, Capital requirement, Financial regulation, Basel II, Credit risk, Office of the Superintendent of Financial Institutions, Probability of default, Basel

OSFI used input from its January 2020 consultative document: Advancing Proportionality to design the new framework.

Key Points: 
  • OSFI used input from its January 2020 consultative document: Advancing Proportionality to design the new framework.
  • "The proposed changes aim to advance a more resilient and proportional bank regulatory regime in Canada that protects depositors, maintains market confidence and promotes continued financial stability, especially during times of stress."
  • The Basel III Framework has been phased in through a series of regulatory changes and allows regulatory authorities some flexibility to adopt standards in ways that work for their jurisdiction.
  • As part of the consolidated Basel III Framework, more robust market risk standards were introduced in January 2019 and the disclosure requirements (Pillar 3 in the Basel III framework) were updated in December 2019.

EBA launches public consultation on draft revised Guidelines on stress tests of Deposit Guarantee Schemes (DGSs)

Retrieved on: 
Thursday, March 11, 2021
Eurozone, European Banking Authority, European Union, La Défense, Articles, Bank regulation, German Society for Social-Scientific Sexuality Research, Stress test, Finance

11 March 2021

Key Points: 
  • 11 March 2021

    The European Banking Authority (EBA) launched today a public consultation onits revised Guidelines on the stress tests conducted by national DGSs under the Deposit Guarantee Schemes Directive (DGSD).

  • The proposed framework will also achieve greater harmonisation and comparability, to enable the EBA to carry out a robust peer review of national DGS stress tests in 2024/25.
  • The draft revised Guidelines strengthen the cooperation between DGSs and other authorities by testing scenarios where such cooperation is necessary.
  • The EBA subsequently discussed potential amendments to the framework with schemes and competent authorities in order to develop the draft Guidelines.

SEC-Registered Transfer Agent Vertalo and North Capital Join Forces to Provide Escrow Services for Digital and Analog Issuance Clients

Retrieved on: 
Monday, March 8, 2021
Finance, Stock market, Bank regulation, Banking in India, Know your customer, Money, Security, Escrow, Law

Escrow services offered by North Capital follow KYC/AML, Accreditation, and Document Signing processes managed by Vertalo on behalf of its licensees and issuer clients.

Key Points: 
  • Escrow services offered by North Capital follow KYC/AML, Accreditation, and Document Signing processes managed by Vertalo on behalf of its licensees and issuer clients.
  • After investors have completed the Vertalo I/O onboarding process, processing investment commitments and offering escrow services closes the loop and connects issuers to their new investors.
  • North Capital's proprietary TransactAPI technology enables Vertalo to securely transfer key investor data, including KYC/AML data performed by Vertalo partners, like NetKi, when an investor begins the funding process.
  • "We're delighted to be working with Vertalo, an innovative registered transfer agent that has been highly effective in competing in the private securities market," said James P. Dowd, CEO of North Capital.

Bank Regulatory Experts Dustin Palmer and Christopher Sidler Join BRG, Augmenting Firm's Financial Crimes Compliance Expertise

Retrieved on: 
Thursday, March 4, 2021
Bank regulation, Service companies, Financial services, Banking in India, Know your customer, Service industries, Promontory Financial Group, Financial crime

As part of BRG's growing team, Palmer and Sidler will help financial institutions transform their regulatory compliance programs.

Key Points: 
  • As part of BRG's growing team, Palmer and Sidler will help financial institutions transform their regulatory compliance programs.
  • Palmer and Sidler are experts in regulatory compliance, with a focus on AML, know your customer (KYC), sanctions, fraud, anti-bribery and -corruption and related areas.
  • Before joining BRG, Palmer and Sidler spent ten and thirteen years, respectively, at Promontory Financial Group, where they most recently led the financial crimes compliance practice.
  • "I'm excited to join a firm uniquely positioned to assist financial institutions in dealing with unprecedented disruption," said Palmer.

Socure and Baker Tilly Partner to Establish Intelligent KYC Assurance for Fintechs and Banking Institutions

Retrieved on: 
Thursday, March 4, 2021
Hardware, Security, Data management, Technology, Finance, Consulting, Banking, Accounting, Professional services, Telecommunications, Software, Networks, VoIP, Internet, Mobile, Wireless, Bank regulation, Socure, Baker Tilly US, LLP

The report verifies that Socures Intelligent KYC product meets the CIP requirements and model risk management expectations demanded by financial institutions.

Key Points: 
  • The report verifies that Socures Intelligent KYC product meets the CIP requirements and model risk management expectations demanded by financial institutions.
  • It establishes that Socures Intelligent KYC product satisfies regulatory compliance, and creates additional assurance, for clients held to the USA PATRIOT Acts requirements.
  • Baker Tillys audit of Intelligent KYC evaluated how the solution works, verified its accuracy, and assessed it against the model risk management supervisory framework.
  • Our team is extremely grateful to Baker Tilly for their work on this audit of Intelligent KYC, said Johnny Ayers , founder and CEO of Socure.

Results of the December 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

Retrieved on: 
Thursday, March 4, 2021
Finance, Money, Credit risk, Economy, Financial law, Financial markets, Systemic risk, Bank regulation, Derivative, Hedge fund, Credit derivative, Margin

Whereas price terms tightened slightly for all counterparties except banks and hedge funds, non-price terms eased on balance for all counterparty types.

Key Points: 
  • Whereas price terms tightened slightly for all counterparties except banks and hedge funds, non-price terms eased on balance for all counterparty types.
  • Looking ahead, a small net percentage of respondents expected overall terms to tighten over the December 2020 to February 2021 period.
  • Respondents also reported that initial margin requirements remained unchanged for almost all OTC derivatives except for credit derivatives referencing sovereigns.
  • The December 2020 survey collected qualitative information on changes between September 2020 and November 2020.

Results of the December 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

Retrieved on: 
Wednesday, March 3, 2021
Finance, Money, Credit risk, Economy, Financial law, Financial markets, Systemic risk, Bank regulation, Derivative, Hedge fund, Credit derivative, Margin

Whereas price terms tightened slightly for all counterparties except banks and hedge funds, non-price terms eased on balance for all counterparty types.

Key Points: 
  • Whereas price terms tightened slightly for all counterparties except banks and hedge funds, non-price terms eased on balance for all counterparty types.
  • Looking ahead, a small net percentage of respondents expected overall terms to tighten over the December 2020 to February 2021 period.
  • Respondents also reported that initial margin requirements remained unchanged for almost all OTC derivatives except for credit derivatives referencing sovereigns.
  • The December 2020 survey collected qualitative information on changes between September 2020 and November 2020.

Kharon And FinScan Partner To Deliver Critical Addition To KYC And AML Compliance

Retrieved on: 
Wednesday, February 24, 2021
Bank regulation

Kharon's 50 Plus, Maritime and Venezuela datasets have been integrated into the FinScan platform where existing customers can access the Kharon data to strengthen risk screening.

Key Points: 
  • Kharon's 50 Plus, Maritime and Venezuela datasets have been integrated into the FinScan platform where existing customers can access the Kharon data to strengthen risk screening.
  • Kharon specializes in creating the most comprehensive understanding of ownership by sanctioned actors, following ownership chains as far down as they extend.
  • Together with FinScan, we can provide the detail clients need to manage risk in line with regulatory expectations.
  • FinScan is a global provider of advanced AML/KYC consulting and compliance solutions trusted by leading organizations around the world.

Farmers & Merchants Bank of Long Beach Declares First-Quarter Cash Dividend of $27 Per Share

Retrieved on: 
Friday, February 19, 2021
Small business, Banking, Professional services, Finance, Bank regulation in the United States, Bank regulation, Finance, Federal Deposit Insurance Corporation, Money, Economy, Dividend, Bank, Deposit insurance

Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) today announced that its board of directors has declared regular quarterly cash dividend of $27 per share on the Banks common stock.

Key Points: 
  • Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) today announced that its board of directors has declared regular quarterly cash dividend of $27 per share on the Banks common stock.
  • F&M has paid a dividend each year to shareholders since 1916, and the value of F&Ms quarterly dividend has never decreased.
  • Walker, Farmers & Merchants Bank provides white-glove service to clients at 25 branches across Orange County, Long Beach, the South Bay and Santa Barbara, as well as through its Online and Mobile Banking platforms.
  • Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender.