International finance institutions

EMIR RTS on various amendments to the bilateral margin requirements and joint statement on the introduction of fall-backs in view of the international framework

Retrieved on:

Friday, December 6, 2019

International finance institutions, Financial markets, Finance, Economy, Financial regulation, Bank regulation, Financial law, Stock market, Iosco, Basel Committee on Banking Supervision, Derivative, International Organization of Securities Commissions

Both RTS and the statement were developed to facilitate further international consistency in the implementation of the global framework agreed by the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO).

Key Points:

Both RTS and the statement were developed to facilitate further international consistency in the implementation of the global framework agreed by the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO).
Lastly, the statement clarifies the view of the ESAs that amendments made to outstanding uncleared OTC derivative contracts for the sole purpose of introducing such fall-backs should not create new obligations on these legacy contracts.
The ESAs have now submitted the draft RTS to the Commission for endorsement in the form of a Commission Delegated Regulation, i.e.
Following the endorsement, they are then subject to non-objection by the European Parliament and the Council.

OSFI confirms Toronto-Dominion Bank designation as a global systemically important bank

Retrieved on:

Friday, November 22, 2019

Economy, Financial regulation, Money, Systemic risk, Finance, International finance institutions, Central banks, Economic globalization, Systemically important financial institution, Basel Committee on Banking Supervision, Office of the Superintendent of Financial Institutions, Financial Stability Board

OTTAWA, Nov. 22, 2019 /CNW/ -Today the Financial Stability Board (FSB) added Toronto-Dominion Bank to the list of global systemically important banks (G-SIBs).

Key Points:

OTTAWA, Nov. 22, 2019 /CNW/ -Today the Financial Stability Board (FSB) added Toronto-Dominion Bank to the list of global systemically important banks (G-SIBs).
TD is already subject to OSFI's framework for domestic systemically important banks (D-SIBs), and therefore is well positioned to meet the G-SIB requirements starting in November 2020.
TD's G-SIB designation is based on the assessment methodology published by the Basel Committee on Banking Supervision (BCBS) using 2018 data.
TheOfficeoftheSuperintendentofFinancialInstitutions (OSFI) isanindependent agencyof the Government of Canada, establishedin 1987, to protect depositors, policyholders,financial institution creditorsandpensionplanmembers, whileallowingfinancialinstitutions tocompete and take reasonablerisks.

New Development Bank (NDB) Outlines Ambitious Plans to Boost Loans, Increase Impact of Investment

Retrieved on:

Wednesday, April 3, 2019

Economy, International finance institutions, United Nations Development Group, Organizations

"The Bank will ramp up its hard currency financing from the international capital markets."

Key Points:

"The Bank will ramp up its hard currency financing from the international capital markets."
That brought the total loan book of the bank to 30 projects worth approximately USD 8 billion by the end of last year.
In both theseendeavours, the Bank is being called upon to assist," said Mr. Kamath in his keynote speech.
"We are focusing on the development impact of our lending through more robust monitoring frameworks and measurement of projects' contributions to our members' SDG commitments," said Mr. K.V.

Sabine Lautenschläger: The evolution of banking regulation

Retrieved on:

Monday, March 18, 2019

Bank regulation, Basel II, Financial services, Banking, BCBS, Economy, International finance institutions, Financial regulation, Basel Committee on Banking Supervision, BCBS 239

The evolution of banking regulationPanel remarks by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the Financial Stability Institute 20th anniversary conference, Basel, 12 March 2019Besides this general point, there are several issues which should and could be dealt with, or discussed at the BCBS. Work can be done to improve joint understanding of emerging risks in the banking sector, to exchange information on standards and best practices on new or increasingly relevant topics, and to work on a minimum convergence of supervisory practices. And if I am informed correctly, many of the topics I will mention can be found in the 2019 work programme of the BCBS.First and foremost, the BCBS should monitor how the new Basel rules are implemented in national laws and ensure it has a thorough overview of how these are then translated into supervisory practices.It should also foster an intensive exchange of information about the risks and vulnerabilities we see in today’s and, in particular, tomorrow’s macroeconomic environment. These discussions should also cover the approaches supervisors could use to analyse, assess and react to these upcoming risks via Pillar 2, or other instruments. After all, a US supervisor’s challenge today may be a European supervisor’s concern tomorrow. I believe that supervisors from around the world would benefit from sharing views and experiences. The one thing we have to keep in mind is this: good supervision is a positive-sum game – everyone wins.The BCBS could and should be a hub for exchanging supervisory knowledge, tools and approaches regarding cyber risk.And finally, the BCBS could be of great help for supervisors regarding operational, legal and reputational risks in banks which are linked to conduct risks or anti-money laundering. The same is true for green finance or climate-related risk. Here, too, a structured exchange of information about different tools and methods would help to strengthen supervision globally.

Key Points:

The evolution of banking regulation

Panel remarks by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the Financial Stability Institute 20th anniversary conference, Basel, 12 March 2019

Besides this general point, there are several issues which should and could be dealt with, or discussed at the BCBS. Work can be done to improve joint understanding of emerging risks in the banking sector, to exchange information on standards and best practices on new or increasingly relevant topics, and to work on a minimum convergence of supervisory practices. And if I am informed correctly, many of the topics I will mention can be found in the 2019 work programme of the BCBS.
- First and foremost, the BCBS should monitor how the new Basel rules are implemented in national laws and ensure it has a thorough overview of how these are then translated into supervisory practices.
- It should also foster an intensive exchange of information about the risks and vulnerabilities we see in today’s and, in particular, tomorrow’s macroeconomic environment. These discussions should also cover the approaches supervisors could use to analyse, assess and react to these upcoming risks via Pillar 2, or other instruments. After all, a US supervisor’s challenge today may be a European supervisor’s concern tomorrow. I believe that supervisors from around the world would benefit from sharing views and experiences. The one thing we have to keep in mind is this: good supervision is a positive-sum game – everyone wins.
- The BCBS could and should be a hub for exchanging supervisory knowledge, tools and approaches regarding cyber risk.
- And finally, the BCBS could be of great help for supervisors regarding operational, legal and reputational risks in banks which are linked to conduct risks or anti-money laundering. The same is true for green finance or climate-related risk. Here, too, a structured exchange of information about different tools and methods would help to strengthen supervision globally.

Highlights - Vote on establishment of European Monetary Fund - POSTPONED - Committee on Budgets

Retrieved on:

Wednesday, February 6, 2019

European Union, Eurozone, Multi-speed Europe, Politics of Europe, Europe, International finance institutions, Econ, European Central Bank, European Stability Mechanism, European Parliament Committee on Economic and Monetary Affairs, Conditionality, Monetary policy

The joint vote of the Committee on Budgets (BUDG) and the Committee on Economic and Monetary Affairs (ECON) on the interim report on the establishment of the European Monetary Fund (EMF), on the basis of a draft prepared by co-rapporteurs from both committees, Vladimr Maka (S&D) and Pedro Silva Pereira (S&D), originally scheduled on 7 February, is postponed.

Key Points:

The joint vote of the Committee on Budgets (BUDG) and the Committee on Economic and Monetary Affairs (ECON) on the interim report on the establishment of the European Monetary Fund (EMF), on the basis of a draft prepared by co-rapporteurs from both committees, Vladimr Maka (S&D) and Pedro Silva Pereira (S&D), originally scheduled on 7 February, is postponed.
The EMF aims to provide transitional financial assistance to Member States in need on the basis of specific conditionalities agreed under adjustment programmes.
The co-rapporteurs call for bringing the existing intergovernmental European Stability Mechanism into the EU's legal framework in order to increase its democratic legitimacy and accountability.
They also note that the name 'European Monetary Fund' might be misleading, as the eurozone's monetary policy remains the sole competence of the European Central Bank.

Highlights - Vote on establishment of European Monetary Fund - Committee on Budgets

Retrieved on:

Friday, February 1, 2019

European Union, Europe, Eurozone, Multi-speed Europe, Economy, International finance institutions, European Central Bank, European Stability Mechanism, Econ, Monetary policy, European Parliament Committee on Economic and Monetary Affairs, Conditionality

On 7 February, the Committee on Budgets (BUDG) and the Committee on Economic and Monetary Affairs (ECON) will jointly vote on the interim report on the establishment of the European Monetary Fund (EMF), on the basis of a draft prepared by co-rapporteurs from both committees, Vladimr Maka (S&D) and Pedro Silva Pereira (S&D).

Key Points:

On 7 February, the Committee on Budgets (BUDG) and the Committee on Economic and Monetary Affairs (ECON) will jointly vote on the interim report on the establishment of the European Monetary Fund (EMF), on the basis of a draft prepared by co-rapporteurs from both committees, Vladimr Maka (S&D) and Pedro Silva Pereira (S&D).
The EMF aims to provide transitional financial assistance to Member States in need on the basis of specific conditionalities agreed under adjustment programmes.
The co-rapporteurs call for bringing the existing intergovernmental European Stability Mechanism into the EU's legal framework in order to increase its democratic legitimacy and accountability.
They also note that the name 'European Monetary Fund' might be misleading, as the eurozone's monetary policy remains the sole competence of the European Central Bank.

New Development Bank Concludes Successful Participation at BRICS Summit 2018 in Johannesburg, South Africa

Retrieved on:

Friday, July 27, 2018

International relations, Economy, Foreign relations, BRICS, Foreign relations of Brazil, Foreign relations of China, Foreign relations of India, International finance institutions, New Development Bank, Cyril Ramaphosa, Sandton, Bric

JOHANNESBURG, South Africa, July 27, 2018 /PRNewswire/ -- The tenth BRICS Summit concluded today at the Sandton Convention Centre in Johannesburg, South Africa, during which the New Development Bank showcased its growing support for the sustainable economic development of the BRICS countries.

Key Points:

JOHANNESBURG, South Africa, July 27, 2018 /PRNewswire/ -- The tenth BRICS Summit concluded today at the Sandton Convention Centre in Johannesburg, South Africa, during which the New Development Bank showcased its growing support for the sustainable economic development of the BRICS countries.
July 26- NDB President met Mr. Cyril Ramaphosa, the President of the Republic of South Africa, in Johannesburg to discuss joint projects and the future role of the Bank in South Africa.
Through its active participation in the BRICS Summit, the Bank reaffirmed its determination to expand its role as an innovative and reliable development partner to all BRICS countries in the year ahead, increasing its support for all member nations to achieve their development agendas.
Project approvals: With a focus on infrastructure and sustainable development, the Bank approved one loan for South Africa and one for China in the run-up to the BRICS Summit.

Vnesheconombank and BRICS Development Banks Will Research the Implementation of Blockchain Technology

Retrieved on:

Thursday, July 26, 2018

International relations, Economy, Foreign relations, Foreign relations of Brazil, Foreign relations of China, Foreign relations of India, International finance institutions, Multilateral development banks, New Development Bank, BRICS, Bric

"Vnesheconombank works with the development banks of BRICS countries in a range of key areas, including financial cooperation, developing credit financing in national currencies and implementation of innovations.

Key Points:

"Vnesheconombank works with the development banks of BRICS countries in a range of key areas, including financial cooperation, developing credit financing in national currencies and implementation of innovations.
BRICS Interbank Cooperation Mechanism was created in 2010 as a result of cooperation agreement among state export and financial development institutions of the BRICS countries.
Member banks of the Interbank Cooperation Mechanism made a significant contribution in the creation of the New Development Bank.
In 2020, Vnesheconombank will chair the two organizations: BRICS Interbank Cooperation Mechanism and Interbank Association of the Shanghai Cooperation Organization.