Basel committee consults on revisions to operational risk capital framework.The Basel Committee on Banking Supervision requested comments on proposed revisions to the operational risk capital framework that would introduce the Standardized Measurement Approach to replace the existing approaches for calculating operational risk capital, incorporate a financial statement-based measure of operational risk with an individual firm’s past operational losses, and eliminate the option to use an internal model-based approach for measuring operational risk. Comments are due on or before June 3, 2016. (3/4/3016) BIS press release.
ISDA publishes classification letter for clearing OTC derivatives in Australia.The International Swaps and Derivatives Association issued a clearing classification letter for use by counterparties to report their status for clearing and other regulatory requirements under the ASIC’s Derivative Transaction Rules (Clearing) 2015. (3/3/2016) ISDA press release.
IOSCO analyzes potential risks to securities markets in 2016. The International Organization of Securities Commissions published the Securities Markets Risk Outlook 2016, a report that examines key trends and issues relevant to securities markets that may develop into threats to the global financial system. (3/2/2016) IOSCO press release.
Basel Committee publishes results of Basel III monitoring exercise. The Basel Committee released the results of its most recent Basel III monitoring exercise, which found that all large internationally active banks met Basel III minimum and Common Equity Tier 1 target capital requirements. (3/2/2016) BIS press release.
ISDA updates OTC Derivatives Compliance Calendar. ISDA released a revised version of its OTC Derivatives Compliance Calendar. (3/1/2016)
FSB identifies priorities for 2016. The Financial Stability Board published a letter from FSB Chair Mark Carney to G20 Finance Ministers and Central Bank Governors in which Chair Carney outlines the FSB’s 2016 priorities. Among other priorities, the FSB identified its role in supporting the implementation of post-crisis reforms, addressing new and emerging vulnerabilities in the financial system, supporting strong financial infrastructure, and assessing the systemic implications and risks of financial technology innovations as areas of focus for 2016. (2/27/2016) FSB press release.