The Basel Committee Group of Central Bank Governors and Heads of Supervision delayed the implementation dates for Basel III to allow banks to focus on "immediate financial stability priorities" during the COVID-19 pandemic.
In its Annual Economic Report, dated June 23, 2019, the Bank for International Settlements urged regulators to implement policies and regulations that address the emergence of "big tech" in financial markets.
The European Supervisory Authorities made final revisions to report on bilateral Margin Regulatory Technical Standards requirements in order to align with the Basel Committee and IOSCO international framework.
In a newly published consultative document, the Bank for International Settlements Basel Committee on Banking Supervision proposed several "limited adjustments" to the credit valuation adjustment risk framework.
The Chair of the Supervisory Board of the European Central Bank, Andrea Enria, asked the CEOs of the largest banks in the Eurozone to explain how they plan to deal with upcoming changes to a number of interest rate benchmarks.
In a final report, the Financial Stability Board, along with a group of other international financial regulatory bodies, evaluated how post-financial crisis reforms affect incentives for the central clearing of derivatives.
The Bank for International Settlements Committee on Payments and Market Infrastructures and IOSCO provided guidance for derivatives regulators on harmonizing certain "critical" data elements for over-the-counter transactions.
As the regulatory standards for cybersecurity compliance procedures are steadily ratcheting upwards, firms that fail to document and implement "best practice" procedures are putting themselves at substantial civil and regulatory risk.