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Opinion | Les risques climatiques, une priorité de l agenda 2021 pour les assureurs

Opinion | Les risques climatiques, une priorité de l agenda 2021 pour les assureurs
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World Council Details Top 10 Advocacy Successes of 2020 | World Council of Credit Unions

A year marked by COVID-specific regulations still included victories for credit unions January 07, 2021 WASHINGTON World Council of Credit Unions continued in 2020 to successfully advocate before international standard setting bodies on behalf of the global financial cooperative movement. Here are World Council’s Top 10 International Advocacy Success Stories of the year. 1. Basel AML/CFT Guidance includes World Council Recommendations on Proportionality/Financial Inclusion The Basel Committee on Banking Supervision issued an updated version of its guidelines on  , with guides on the interaction and cooperation between prudential, and anti-money laundering and combatting the financing of terrorism (AML/CFT) supervisors. The issuance specifically included World Council-recommended language stating that AML/CFT burdens should be proportional and risk-based, informed by banks’ own risk assessment of ML/FT risks.  Further, with respect to member/customer due diligence, the gu

Federal Financial Institutions Legislative And Regulatory Reporter – November 2020 - Finance and Banking

  November 27, 2020 The Office of the Superintendent of Financial Institutions (OSFI) is issuing the final version of the Instruction guide for the preparation of actuarial reports for defined benefit pension plans(The Guide). The purpose of the Guide is to set out the reporting requirements of actuarial reports filed with OSFI. The Guide is a comprehensive document with the intent of facilitating the work of the actuary and the review of actuarial reports by OSFI by including legislative, regulatory and actuarial requirements and expectations in one document.   November 27, 2020 In April 2020, OSFI released a formal advisory to the LICAT guideline to include a

Global bank capital rules add G-Sifi envy to mix

The G20’s decision to designate 29 banks as global systemically important financial institutions will introduce a new competitive dynamic to international finance in 2012: “G-Sifi envy.” Banks that made the list last month will be required to hold more capital. But they will also benefit from being codified as banks that are effectively too big to fail. That puts smaller rivals at a disadvantage. It’s a race to the top, but not in the way regulators envisaged. In November, the G20’s Financial Stability Board identified those banks whose failure “would cause significant disruption to the wider financial system and economic activity.” The list, based on a series of measures including size, international reach and interconnectedness, included the usual suspects: Wall Street titans like JPMorgan, Goldman Sachs and Morgan Stanley; Switzerland’s big two; the largest commercial lenders in Europe, the UK, the United States and Japan; and custodial banks like State Street and

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