Journal of the 59
October – December, 2019
Banking Supervisor Promoting Best Practices for Banking Supervision
of the
Table of Contents Banking Regulation and Supervision
• Global Fintech Regulation and Supervision Practices (ASBA Publication)
• Governance Arrangements for Critical OTC Derivatives Data Elements
(other than UTI and UPI)
• Best Practices on Beneficial Ownership for Legal Persons
• FATF Methodology for Assessing Compliance with the FATF Recommendations and the
Effectiveness of AML/CFT Systems (Update 2019)
• Seventeenth Progress Report on Adoption of the Basel Regulatory Framework
• 2019 Resolution Report: “Mind the Gap”
Market Outlooks and Reviews
• Global Financial Stability Report: Lower for Longer
• Global Microscope 2019 The Enabling Environment for Financial Inclusion
• Regional Economic Outlook: Western Hemisphere. Stunted by Uncertainty
• 2020 Banking and Capital Markets Outlook: Fortifying the Core for the Next Wave of
Disruption
• Retail Banking 2020: Evolution or Revolution?
Research and Analysis
Climate Related Risks
i. Climate Risk and Financial Systems of Latin America: Regulatory, Supervisory and Industry Practices in the Region and Beyond
ii. Financing Climate Futures : Rethinking Infrastructure
iii. Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature
iv. Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
Regtech and Suptech. Technology for Authorities
i. The Use of Big Data Analytics and Artificial Intelligence in Central Banking
ii. The Suptech Generations
Regulation and Supervision of Fintech
i. Regulating Alternative Finance: Results From A Global Regulatory Survey
ii. Embedded Supervision: How to Build Regulation into Blockchain Finance
asbasupervision.com @ASBAnews Tel. +52 (55) 5662 0085,
Table of Contents
Research and Analysis
Cyber Risks and Data
i. Cybersecurity Risk Supervision
ii. Varying Shades of Red: How Red Team Testing Frameworks Can Enhance the Cyber Resilience of Financial Institutions.
iii. Cyber-Risk Oversight Handbook for Corporate Boards
Financial Inclusion and Consumer Protection
i. Core Competencies Framework on Financial Literacy for Investors
ii. Smarter Financial Education Key Lessons from Behavioural Insights for Financial Literacy Initiatives
iii. Good Practice Guide on Consumer Data
Contributions and News
ASBA Events
asbasupervision.com Tel. +52 (55) 5662 0085,
[email protected] @ASBAnews
• Banco Central de Argentina, Argentina
• Central Bank of Barbados, Barbados
• Banco Central Do Brasil, Brazil
• Comisión Nacional Bancaria y de Valores,
Mexico
• Comisión Nacional para la Protección y
Defensa de los Usuarios de Servicios Financieros, Mexico
• Superintendencia de Bancos, Ecuador
• Superintendencia de Bancos, Guatemala
• Bank of Guyana, Guyana
• Superintendencia de Bancos de Panamá
• Superintendencia de Banca Seguros y AFP,
Peru
• Banco Central del Uruguay, Uruguay
Market Outlooks and Reviews
Research and Analysis
Contributions and News
ASBA Events
4
Banking Regulation and Supervision
Governance Arrangements for Critical OTC Derivatives Data
Elements (other than UTI and UPI)
https://bit.ly/2QtqZ8E
In this report, the CPMI and IOSCO set out Governance Arrangements for the critical data elements other than the UTI and UPI (CDE Governance Arrangements). The CPMI and IOSCO acknowledge that CDE need to be implemented globally but also that the definitions, allowable values and also possibly the formats of CDE will need maintenance and governance in order to ensure that they remain up-to-date and evolve to reflect and support market practices and Authorities’ needs.
Bank for International
Settlements (BIS) and International Organization of
Securities Commissions(IOSCO)
Committee on Payments and
Market Infrastructures
October, 2019
Best Practices on Beneficial Ownership for Legal Persons
https://bit.ly/2FBI1eJ
Anonymous shell companies are one of the most widely used methods for laundering the proceeds of crime and corruption. New FATF Best Practices help countries get rid of the cloak of secrecy concerning the ultimate owner of a company, foundation, association or any other legal person, and prevent their misuse for crime and terrorism.
Financial Action Task Force
(FAFT) October, 2019
asbasupervision.com
Global Fintech Regulation and Supervision Practices
(ASBA Publication)
https://bit.ly/2QJxsLx
The purpose of this document is to compile and analyze global practices regarding the regulation and supervision of Fintech business models, products and services. To that end, it reviews the current regulatory and supervisory practices of financial authorities, building upon a survey distributed among ASBA members regarding Fintech-related regulations and approaches and other relevant documents. A total of 56 jurisdictions on all five continents were examined, including 11 within the ASBA membership.
Association of Supervisors of Banks of the Americas (ASBA)
and IDB-LAB
December, 2019
Banking Regulation and Supervision
Market Outlooks and Reviews
Research and Analysis
Contributions and News
ASBA Events
5
Banking Regulation and Supervision
FATF Methodology for Assessing Compliance with the FATF
Recommendations and the Effectiveness of AML/CFT Systems
https://bit.ly/2Qp5je1
This document refers to the 2013 FATF Methodology. The FATF conducts mutual evaluations of its members’ levels of implementation of the FATF Recommendations on an ongoing basis. These are peer reviews, where members from different countries assess another country. The FATF Methodology for assessing compliance with the FATF Recommendations
and the effectiveness of AML/CFT systems sets out the evaluation process.
asbasupervision.com
Financial Action Task Force (FATF)
October, 2019
Seventeenth Progress Report on Adoption of the Basel Regulatory
Framework
https://bit.ly/39HlpXP
This report sets out the adoption status of Basel III standards for each of the BCBS member jurisdiction as of end-September 2019. It updates the Committee’s previous progress reports, which have been published on a semiannual basis since October 2011.
Bank for International
Settlements (BIS)
Basel Committee on Banking
Supervision
October, 2019
2019 Resolution Report: “Mind the Gap”
https://bit.ly/35nRAYO
This resolution report provides an update on progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work. The report concludes that authorities and firms need to be mindful of any remaining gaps as they work towards making resolution strategies and plans operational in all sectors.
Financial Stability Board (FSB)
November, 2019
6
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
Global Financial Stability Report: Lower for Longer
https://bit.ly/2Qmwg1S
The 2019 Global Financial Stability Report identifies the current key vulnerabilities in the global financial system. Besides, the report proposes that policymakers mitigate these risks through (i) stricter supervisory and macroprudential oversight of firms, (ii) strengthened oversight and disclosure for institutional investors, and (iii) the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.
asbasupervision.com
International Monetary Fund
(IMF)
October, 2019
Global Microscope 2019 The Enabling Environment for
Financial Inclusion
https://bit.ly/2QMnfy9
The 2019 Global Microscope analyzes the regulation and policies used by governments and regulatory institutions of 55 countries around the world to increase financial inclusion among their populations. The index focuses on regulation, political strategies and infrastructure. In addition, the document incorporates a specific gender perspective to better understand how financial inclusion policies affect women differently and how governments and regulators can reduce the gender gap in financial inclusion.
The Economist October, 2019
Market Outlooks and Reviews
Regional Economic Outlook: Western Hemisphere.
Stunted by Uncertainty
https://bit.ly/39DP58l
The document describes the growth context that Latin America and the Caribbean (LAC) is going through. In general, the LAC region has decelerated from 2018 to 2019, although a rebound is presumed by 2020. This deceleration is due to external factors that continue to damage the region's perspectives and among them, (i) the slow world growth, (ii) moderate prices of commodities and the (iii) volatile capital flows. For its part, the report mentions the great uncertainty that exists around economic policies in some of the large countries that slow down growth further. To return to the progress, the document mentions that LAC economies will have to resort to internal sources of growth and restore the maneuvering margins of economic policies.
International Monetary Fund (IMF)
October, 2019
7
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
2020 Banking and Capital Markets Outlook: Fortifying the Core for
the Next Wave of Disruption
https://bit.ly/2QGKg5y
This document mentions the effects that technological innovation is having and will have on the banking industry. In general, the document shows that technology is making banking activities more open, transparent, real-time, intelligent, personalized, secure, integrated and deeply parallel in the lives of consumers and the operations of institutional clients. However, the document emphasizes that the entry of disruptive models should not change the main role of banks: matching demand with the supply of capital. Banks should go hand in hand with these technologies, focusing on strengthening: (i) technological infrastructure; (ii) their
data management, (iii) human capital and (iv) risk management.
Deloitte 2019
Retail Banking 2020: Evolution or Revolution?
https://pwc.to/36u2uOf
Powerful forces are reshaping the banking industry, creating an imperative for change. Banks need to choose what posture they want to adopt - to lead the change, to follow fast, or to manage for the present. Whatever their chosen strategy, leading banks will need to balance execution against 6 critical priorities and have a clear sense of the posture they wish to adopt. However, each of them is important, and success will come from a balanced execution across these priorities and a balance of tactical initiatives and longer-term programs, all coming together as an integrated whole.
PwC Global 2019
8
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
Climate Related Risks
asbasupervision.com
Climate Risk and Financial Systems of Latin America: Regulatory,
Supervisory and Industry Practices in the Region and Beyond
https://bit.ly/2MTxgYY
The Inter-American Development Bank (IDB) launched a research program on the relationship between climate change and financial markets in the LAC region, beginning a dialogue with several regulators, central banks and supervisors, alongside an analytical effort that is presented in two parts: A Map of Financial Regulations and Industry Practices in Latin America; and an Analysis of International Practices in Using Supervisory and Regulatory Instruments, considering their replication potential in LAC.
Inter-American Development Bank (IADB)
Frisari, Giovanni Leo; Monnin, Pierre; Nakano, Chiemi;
Cárdenas, Víctor; Gallardo, Matías
December, 2019
Financing Climate Futures: Rethinking Infrastructure
https://bit.ly/2QmOHmW
The report explores six key transformative areas that will be critical to align financial flows with low-emission and resilient societies (planning, innovation, public budgeting, financial systems, development finance, and cities) and looks at how rapid socio-economic and technological developments, such as digitalization, can open new pathways to low-emission, resilient futures.
World Bank Group, Organisation for Economic Co
-operation and Development
(OECD) and UN Environment
Douglas Herrick, Kate Kooka,
et.al. October, 2019
Macroeconomic and Financial Policies for Climate Change Mitigation:
A Review of the Literature
https://bit.ly/35uIIAX
The question of the most effective policy mix for climate change mitigation remains relatively unexplored and is complex given the substantial uncertainties in this topic. It requires an understanding of policy objectives trade-offs and interactions, as well as political economy considerations. This literature review focuses on the roles that macroeconomic and financial policies can play in climate change mitigation, provides a menu of relevant macroeconomic and financial policy tools and instruments, and highlights the complexity of the policy challenge and the need for coordination of different policy areas for achieving mitigation efficiently and effectively.
International Monetary Fund (IMF)
Signe Krogstrup and
William Oman September, 2019
9
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Long-Term Macroeconomic Effects of Climate Change:
A Cross-Country Analysis
https://bit.ly/2ZTssZ7
This document studies the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms.
International Monetary Fund (IMF)
Matthew E. Kahn, Kamiar Mohaddes, Ryan N. C. Ng, M.
Hashem Pesaran, Mehdi Raissi and Jui-Chung Yang
October, 2019
Regtech and Suptech. Technology for Authorities
The Use of Big Data Analytics and Artificial Intelligence in
Central Banking
https://bit.ly/2FrQpwZ
The analysis cover three main aspects: (i) an assessment of the main big data sources and associated analytical techniques that are relevant for central banks; (ii) the insights provided by big data for economic policy, with an overview of concrete central bank projects aiming at improving statistical information, macroeconomic analysis and forecasting, financial market monitoring and financial risk assessment; and (iii) the use of big data in crafting central bank policies, including organisational aspects and related challenges.
Bank for International Settlements (BIS)
Okiriza Wibisono, Hidayah
Dhini Ari, Anggraini
Widjanarti, Alvin Andhika Zulen and Bruno Tissot
October, 2019
The Suptech Generations
https://bit.ly/2Fsb30e
Financial authorities' use of technology has evolved over the years, leading to different generations of technology that culminate in what the paper considers as suptech. Suptech refers to the application of big data or artificial intelligence (AI) to tools used by financial authorities. This paper examines these developments by analyzing suptech initiatives in 39 financial authorities globally.
Financial Stability Institute
(FSI)
Simone di Castri, Stefan Hohl,
Arend Kulenkampff and Jermy Prenio
October, 2019
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Regulation and Supervision of FinTech
Regulating Alternative Finance: Results From A Global Regulatory
Survey
https://bit.ly/35yzIed
This report details the key findings from a global regulatory survey that was jointly conducted by the World Bank and the University of Cambridge Judge Business School. The study comprehensively and comparatively analyze how regulators from both developing and developed economies are regulating and supervising online alternative finance activities. The report focuses on peer-to-peer lending, equity crowdfunding and initial coin offerings, which constitute a rapidly growing segment of fintech for meeting credit, savings and investment needs. Survey findings informing this report are based on responses from regulators in 111 jurisdictions across the world.
World Bank Group and
University of Cambridge 2019
Embedded Supervision: How to Build Regulation into Blockchain
Finance
https://bit.ly/2QTFsJQ
The spread of distributed ledger technology (DLT) in finance could help to improve the efficiency and quality of supervision. This paper makes the case for embedded supervision, i.e. a regulatory framework that provides for compliance in tokenised markets to be automatically monitored by reading the market’s ledger, thus reducing the need for firms to actively collect, verify and deliver data. After sketching out a design for such schemes, the paper explores the conditions under which distributed ledger data might be used to monitor compliance.
Bank for International
Settlements (BIS)
Raphael Auer September, 2019
10
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com 11
Cyber Risks and Data
Cybersecurity Risk Supervision
https://bit.ly/2tvC7ZN
This paper highlights the emerging supervisory practices that contribute to effective cybersecurity risk supervision, with an emphasis on how these practices can be adopted by those agencies that are at an early stage of developing a supervisory approach to strengthen cyber resilience. Financial sector supervisory authorities the world over, are working to establish and implement a framework for cyber risk supervision. Cyber risk often stems from malicious intent, and a successful cyber attack—unlike most other sources of risk—can shut down a supervised firm immediately and lead to systemwide disruptions and failures.
International Monetary Fund
(IMF)
Tamas Gaidosch, Frank
Adelmann, Anastasiia
Morozova, Christopher Wilson September, 2019
Varying Shades of Red: How Red Team Testing Frameworks Can
Enhance the Cyber Resilience of Financial Institutions
https://bit.ly/2QWRJ0u
This paper aims to facilitate deeper understanding by financial sector authorities on different existing approaches that authorities have pursued in establishing red team testing frameworks. The paper is based on information provided by eight financial authorities and selected private sector players. It describes key components of a red team testing framework, compares existing frameworks, outlines the benefits and challenges of such frameworks, and highlights potential crossborder issues relating to red team testing.
Financial Stability Institute
(FSI)
Raymond Kleijmeer, Jermy
Prenio and Jeffery Yong
November, 2019
Cyber-Risk Oversight Handbook for Corporate Boards
https://bit.ly/2ZXinug
The Organization of American States (OAS) and the Internet Security Alliance (ISA) made modifications to the Manual of Cyber Risk Supervision for Corporate Boards (presented in 2014) in order to adapt it to the reality and unique needs of the region of Latin America and the Caribbean. This document includes good practices and lessons learned from corporate boards, academia, government and senior management in the región, in order to improve and help organizations protect themselves from cyber threats and provide better information protection.
Organization of American States (OAS)
2019
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Core Competencies Framework on Financial Literacy for Investors
https://bit.ly/39IIb1B
This Framework is aimed at providing jurisdictions with an important tool to support the development and implementation of investor education initiatives. The Framework could also provide guidance on areas that should be covered in investor education, help guide the content of investor education initiatives, and indicate
areas to be assessed as part of an evaluation strategy.
International Organization of
Securities Commissions (IOSCO) and Organisation for
Economic Co-operation and Development (OECD)
September, 2019
Smarter Financial Education: Key Lessons from Behavioural Insights
for Financial Literacy Initiatives
https://bit.ly/2QsDoJV
This document gives a short overview of the ways in which behavioral insights are relevant for financial education (FE) and summarizes five key lessons that policy makers can follow: (i) financial educational content focused, straightforward and simple to understand; (ii) more customized FE programs; (iii) design programs that help people take actions; (iv) consider using digital channels to facilitate the application of behavioral insights, and (v) application of existing behavioral frameworks to design behaviorally informed programs.
Organisation for Economic Cooperation and
Development (OECD)
September, 2019
Good Practice Guide on Consumer Data
https://bit.ly/2T15Q7p
This paper aims to complement the OECD Recommendation on Consumer Protection in E-Commerce and discuss consumer policy issues associated with consumer data practices, offering greater insights into how consumer protection authorities can and have applied the principles in the Recommendation to address those issues. The guide focuses on selected consumer data practices including: (i) deceptive representations about consumer data practices; (ii) misrepresentations by omission; and (iii) unfair consumer data practices. It then provides key business tips to comply with consumer protection principles under the E-commerce Recommendation.
Organisation for Economic Cooperation and
Development (OECD)
September, 2019
12
Financial Inclusion and Consumer Protection
13
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
We requested information on prudential and non-prudential financial regulation issued by member institutions of ASBA in the third and fourth quarter of the year. We include a brief summary of these regulations and the link to the documentation, if it is of public nature.
This compilation is an effort to expand communication and understanding among the countries of the Americas on approaches used to address various issues that are of joint interest in financial regulation.
Regulation information, third and fourth quarter of 2019
asbasupervision.com
Banco Central de Argentina, Argentina
1. Efectivo Mínimo (From July 1 to December 15, 2019)
Las normas sobre “Efectivo mínimo” tienen como objetivo regular la liquidez de las entidades fi-
nancieras. En ese sentido, establecen una exigencia de encaje para los depósitos y otras obligacio-
nes por intermediación financiera de las mismas.
More information: https://bit.ly/2sIqkr3
2. “Posición global neta de moneda extranjera” (From July 1 to December 15, 2019)
Con el objeto de reducir la exposición al riesgo de tipo de cambio, se establecen límites a los
riesgos de descalce de la posición neta (positiva y negativa) de moneda extranjera de las entidades
financieras.
More information: https://bit.ly/2QrT4Nu
3. “Distribución de resultados” (From July 1 to December 15, 2019)
Las normas sobre "Distribución de resultados" prevén la metodología que deben aplicar los
intermediarios financieros para distribuir sus resultados para que no se vea afectada su liquidez y
solvencia.
More information: https://bit.ly/2rXUzJW
4. “Política de crédito” (From July 1 to December 15, 2019)
Las normas sobre “Política de crédito” tienen como objetivo regular la operatoria crediticia de las
entidades financieras, la cual deberá estar orientada a financiar la inversión, la producción, la
comercialización, el consumo de los bienes y servicios requeridos tanto por la demanda interna
como por la exportación del país o las inversiones directas en el exterior realizadas por empresas
residentes en el país.
More information: https://bit.ly/2FmaG7n
5. NIIF (IFRS) (From July 1 to December 15, 2019)
A partir de los ejercicios iniciados el 1.1.18, las entidades comenzaron a registrar sus operaciones y
variaciones patrimoniales y elaborar sus estados financieros de acuerdo con la NIIF, con la única
excepción transitoria del punto 5.5 "Deterioro de Valor" de la NIIF Nº 9 "Instrumentos Financieros",
el cual comenzará a regir a partir del 20/01/20.
More information: https://bit.ly/2Qs04tW
14
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Central Bank of Barbados, Barbados
No financial regulations were issued during the third and fourth quarter of 2019.
Banco Central Do Brasil, Brazil
1. Resolución n°4.749 (Issued on 29/8/2019)
Modifica la Resolución No. 4,733 del 27 de junio de 2019, que establece las condiciones de emisión
de Facturas Financieras por parte de las instituciones financieras que especifica.
More Information: https://bit.ly/2ZWSVoy
2. Resoluçión n°4.748 (Issued on 29/8/2019) Establece los criterios para la medición del valor razonable de los activos e ingresos por parte de
las instituciones financieras y otras instituciones autorizadas para operar por el Banco Central de
Brasil.
More Information: https://bit.ly/2FvFpP7
3. Resolución n°4.765 (Issued on 27/11/2019)
Establece y aclara el sobregiro otorgado por las instituciones financieras a la cuenta de depósitos a
la vista mantenida por personas físicas y microempresarios individuales (MEI).
More Information: https://bit.ly/2tBk5oI
4. Resolución n°4.753 (Issued on 26/9/2019) Provee normativa para abrir, mantener y cerrar cuentas de depósito.
More Information: https://bit.ly/35vxJXK
5. Resolución n° 4.752 (Issued on 26/9/2019)
Modifica la Resolución No. 4,658 del 26 de abril de 2018, que establece la política de
ciberseguridad y los requisitos para contratar el procesamiento y almacenamiento de datos y los
servicios de computación en la nube que deben cumplir las instituciones financieras y otras
instituciones autorizadas para operar por el Banco Central de Brasil.
More Information: https://bit.ly/37HuK04
Document
Financial Stability Report
The Financial Stability Report (FSR) is a semiannual publication issued by the Banco Central do Bra-
sil (BCB) that presents an overview of recent developments and the outlook on financial stability in
Brazil, focusing on the main risks and on the domestic financial system resilience, as well as con-
veys the Financial Stability Committee (Comef) view on the policy and measures to preserve finan-
cial stability. The current edition covers the first half of 2019, highlighting more recent events
when relevant.
More Information: https://bit.ly/2N5qr6E
Regulation information, third and fourth quarter of 2019
15
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Comisión Nacional Bancaria y de Valores, Mexico
1. Resolución que modifica las Disposiciones de carácter general aplicables a las instituciones de
crédito (Issued on 25/11/19)
Se modifican las Reglas de carácter general con el propósito de que las instituciones de crédito
puedan celebrar contratos de comisión mercantil con instituciones de asistencia privada y
sociedades o asociaciones que otorguen préstamos con garantía prendaria que pertenezcan a su
mismo consorcio o grupo empresarial, incluyendo las denominadas comúnmente "casas de empeño".
More information: https://bit.ly/2MXKEez
2. Resolución modificatoria de la Resolución que modifica las disposiciones de carácter general que
establecen los criterios de contabilidad a los que se sujetarán los participantes del mercado de
contratos de derivados (Issued on 4/11/19)
Se extiende la entrada en vigor de la incorporación de ciertas Normas de Información Financiera
emitidas por el Consejo Mexicano de Normas de Información Financiera, A.C., a las normas
contables que resulten aplicables a las cámaras de compensación y socios liquidadores que
participen en los mercados de contratos de derivados cotizados en bolsa, a fin de que estén en
posibilidad de ajustar sus sistemas de información contable.
More information: https://bit.ly/39GCcdA
3. Resolución modificatoria de la Resolución que modifica las disposiciones de carácter general
aplicables a las actividades de las sociedades cooperativas de ahorro y préstamo, publicada el 23
de enero de 2018. (Issued on 4/11/19)
Se extiende la entrada en vigor de la incorporación de ciertas Normas de Información Financiera
emitidas por el Consejo Mexicano de Normas de Información Financiera, A.C., a las normas
aplicables a la elaboración de la contabilidad de las sociedades cooperativas de ahorro y préstamo
con nivel de operaciones I a IV, a fin de que estén en posibilidad de ajustar sus sistemas de
información contable.
More information: https://bit.ly/2FsovkF
4. Resolución modificatoria de la Resolución que modifica las disposiciones de carácter general
aplicables a los almacenes generales de depósito, casas de cambio, uniones de crédito y sociedades
financieras de objeto múltiple reguladas, publicada el 23 de enero de 2018 (Issued on 4/11/19)
Se extiende la entrada en vigor de la aplicación de Normas de Información Financiera emitidas por
el Consejo Mexicano de Normas de Información Financiera, A.C., a las normas aplicables a la
elaboración de la contabilidad de los almacenes generales de depósito, casas de cambio,
sociedades financieras de objeto múltiple reguladas y uniones de crédito, a fin de que estén en
posibilidad de ajustar sus sistemas de información contable.
More information: https://bit.ly/2FqL35b
Comisión Nacional para la Protección y Defensa de los Usuarios de los Servicios
Financieros (CONDUSEF), Mexico
No financial regulations were issued during the third and fourth quarter of 2019.
Regulation information, third and fourth quarter of 2019
16
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Superintendencia de Bancos, Ecuador
1. Resolución 544-2019-F. “Título II, Capítulo L, del Libro I de la Codificación expedida por la Junta
de Política y Regulación Monetaria y Financiera” (Issued on 30/10/19)
Programa de crédito para las entidades del sector financiero público.
More information: https://bit.ly/2ZYQth8
2. Resolución 533-2019-F. “Subsección III, Sección II, Título I, Capítulo XI, del Libro I de la
Codificación expedida por la Junta de Política y Regulación Monetaria y Financiera”
(Issued on 04/24/19)
Sistema de Tasas de Interés y Tarifas del Banco Central del Ecuador en lo relativo a tasas de interés
para operaciones activas y pasivas.
More information: https://bit.ly/2FwPtaA
3. Resolución SB-2019-1010. “Normas de control para determinar el costo que genera la entrega de
información electrónica” (Issued on 25/10/19)
Contar con una normativa actualizada y acorde a las disposiciones legales vigentes, para determi-
nar el costo que genera la entrega de información electrónica.
More information: https://bit.ly/39PkyEn
Superintendencia de Bancos, Guatemala
1. Oficio Circular No. 8174-2019 (Issued on 29/08/19)
Se amplían los plazos para el programa de implementación del nuevo marco contable de conformi-
dad con Normas Internacionales de Información Financiera -NIIF- indicado en el Oficio Circular
No.3786-2019; se requiere nombrar a un coordinador responsable del proceso de implementación y
se solicita reportes de avances.
Document
La Gestión del Riesgo de Mercado como una Herramienta Gerencial en la Banca
Autor: Edgar René Guevara Recinos
Este documento describe las fuentes de riesgo de mercado mencionadas por el Comité de Basilea y
describe algunos métodos relacionados con la medición de los riesgos asociados.
More information: https://bit.ly/35vRZIQ
Regulation information, third and fourth quarter of 2019
17
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Bank of Guyana, Guyana
1. Supervision Guideline 12: Money Transfer Agencies (MTAs) and Cambios
This Guideline is issued in accordance with section 22 (2) (b) of the Anti-Money Laundering and
Countering the Financing of Terrorism (AML/CFT) Act 2009. The Guideline provides guidance on
what is required to implement an adequate AML/CFT compliance risk-based framework within each
money transfer agency (MTA).
More information: https://bit.ly/2undGhj
2. Supervision Guideline 14: Capital Adequacy Framework
This guideline provides a framework for the constituents of capital in line with the Basel II/III
Minimum Capital Requirements on credit, market and operational risks, by outlining the
characteristics that an instrument must have in order to qualify and the adjustments to be made in
determining the regulatory capital of all licensees.
More information: https://bit.ly/35vRLBu
Superintendencia de Bancos de Panamá, Panama
1. Acuerdo 7-2019.“Supervisión de nuevos sujetos obligados para prevenir el blanqueo de capitales,
financiamiento al terrorismo y financiamiento de la proliferación de armas de destrucción
masiva” (Issued on 02/07/19)
Respecto a las medidas para prevenir el blanqueo de capitales, financiamiento al terrorismo y
financiamiento de la proliferación de armas de destrucción masiva, corresponde a la
Superintendencia de Bancos regular y supervisar a nuevos sujetos obligados: empresas financieras;
empresas de arrendamiento financiero; empresas de factoraje; emisores o procesadores de tarjetas
de débito, crédito y pre-pagadas; entidades emisoras de medios de pago y dinero electrónico; ser-
vicios corporativos realizados por empresas fiduciarias; sociedades de ahorros y préstamos para la
vivienda; Banco de Desarrollo Agropecuario; Banco Hipotecario Nacional.
More information: https://bit.ly/2QrtecD
2. Acuerdo 8-2019.“Gobierno Corporativo” (Issued on 12/08/19)
Actualización de disposiciones sobre Gobierno Corporativo: bancos deberán designar como mínimo
un treinta por ciento de mujeres en la totalidad de los cargos de directores de Junta Directiva.
More information: https://bit.ly/2N0tkWu
3. Acuerdo 9-2019.“Normas Técnicas de Contabilidad” (Issued on 24/10/19)
Se establece que las normas técnicas de contabilidad serán exclusivamente las Normas
Internacionales de Información Financiera (NIIF) emitidas por el Consejo de Normas Internacionales
de Contabilidad (IASB por sus siglas en inglés) para los bancos establecidos en Panamá.
More information: https://bit.ly/35tcc1V
Regulation information, third and fourth quarter of 2019
18
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
Contributions and News
ASBA Events
asbasupervision.com
Superintendencia de Bancos de Panamá, Panama
4. Acuerdo 10-2019.“Límites de Concentración de Riesgos a Grupos Económicos y Partes
Relacionadas” (Issued on 24/10/19)
Se establecen normas para límites de Concentración de Riesgos a Grupos Económicos y Partes
Relacionadas.
More information: https://bit.ly/2sRQo2P
5. Acuerdo 11-2019.“Riesgo de Crédito” (Issued on 01/10/19)
Se establecen disposiciones sobre la gestión y administración del riesgo de crédito para préstamos
hipotecarios de vivienda y los préstamos de consumo con garantías inmuebles y préstamos
corporativos con garantías inmuebles.
More information: https://bit.ly/35wJqxo
6. Acuerdo 12-2019.“Inversiones en valores” (Issued on 15/10/19)
Disposiciones sobre las inversiones en valores para bancos oficiales, bancos de licencia general y
bancos de licencia internacional.
More information: https://bit.ly/2SYFJhB
7. Acuerdo 13-2019.“Tarifas Servicios Especiales” (Issued on 19/11/19)
Actualización de las tarifas de cobros por servicios especiales a fiduciarias.
More information: https://bit.ly/36x8CW6
Superintendencia de Banca, Seguros y AFP, Peru
1. Decreto de Urgencia N°13-2019. “Control Previo de Operaciones de Concentración
Empresarial” (Issued on 18/11/19)
Establece un régimen de control previo de operaciones de concentración empresarial con la
finalidad de promover la eficiencia económica en los mercados para el bienestar de los
consumidores.
More information: https://bit.ly/2Qt8fWF
2. Resolución SBS N° 4838-2019. “Hipoteca Inversa” (Issued on 17/10/19)
Se emite Reglamento de la Hipoteca Inversa.
More Information: https://bit.ly/37MUgkF
3. Resolución SBS N° 5570-2019. Se modifican diversos artículos del Reglamento de Tarjetas de
Crédito y Débito.
Adecuar el marco normativo vigente del uso de las tarjetas de crédito y débito al
entorno de innovación tecnológica: se reconoce a las tarjetas como instrumentos de pago que
pueden tener soporte físico o representación electrónica o digital; se reconoce que para las líneas
paralelas como financiamientos adicionales se debe entregar la información al usuario y separada
de la información de la tarjeta de crédito; empresas deben ofrecer activación de servicios de
notificaciones y se reconocen supuestos de responsabilidad de empresas sobre operaciones no
reconocidas.
More information: https://bit.ly/2QSlNtP
Regulation information, third and fourth quarter of 2019
19
Market Outlooks and Reviews
Research and Analysis
Banking Regulation and Supervision
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Superintendencia de Banca, Seguros y AFP, Perú
4. Resolución SBS N° 5646-2019. “Seguro de Depósitos Cooperativo” (Issued on 29/11/19)
Se emite el Reglamento del Fondo de Seguro de Depósitos Cooperativo, que establece la regulación
del funcionamiento y operaciones del Fondo de Seguro de Depósitos Cooperativo (FSDC), al cual es
obligatoria su afiliación para aquellas Cooperativas de Ahorro y Crédito no autorizadas a captar
recursos del público (Coopac) que capten depósitos de sus socios.
More information: https://bit.ly/37KneBF
Banco Central del Uruguay, Uruguay
1. Proyecto Normativo. “Adecuación de requerimientos de capital por riesgo operacional”.
(Issued on 8/13/2019)
Proyecto normativo que sustituye el Indicador Básico (basado en los Resultados Brutos) por el
Indicador del Negocio y se incorpora un requerimiento de información anual sobre el requerimiento
de capital por riesgo operacional en base individual y consolidada.
More information: https://bit.ly/2QuRkDp
2. Proyecto Normativo. “Registro de operaciones Over The Counter. (Issued on 8/21/2019)
Proyecto normativo que introduce la obligatoriedad para los Intermediarios de Valores e Inversores
Especializados de reportar las operaciones extrabursátiles que realicen, a una entidad autorizada a
tales efectos, para su registro y divulgación.
More information: https://bit.ly/39JDtRc
3. Propuesta de Reglamentación. “Reglamentación de los Registros que deben mantener los Inter-
mediarios de Valores, Asesores de Inversión, Gestores de Portafolios e Instituciones de Intermedia-
ción Financiera que realicen intermediación en valores, asesoramiento en inversiones o gestión de
portafolios” (Issued on 10/4/2019)
El proyecto contempla los nuevos registros incorporados en la Recopilación de Normas del Mercado
de Valores (RNMV) y en la Recopilación de Normas de Regulación y Control del Sistema Financiero
(RNRCSF) para aseosramientos y referenciamientos realizados; instrucciones cursadas a
intermediarios de valores; certificados de legitimación emitidos a solicitud de clientes y valores
inscriptos por el intermediario de valores/institución en los registros de las entidades registradas.
More information: https://bit.ly/35pWpRH and https://bit.ly/2rZKMDb
4. Proyecto Normativo. “Tercerizaciones de servicios” (Issued on 10/7/2019)
Proyecto Normativo que introduce modificaciones en el régimen de autorizaciones para la
tercerización de servicios.
More information: https://bit.ly/2tEFoWr
Regulation information, third and fourth quarter of 2019
DISCLAIMER / COPYRIGHT Published by the Association of Supervisors of Banks of the Americas (ASBA). Its headquarters are located at C. Picacho Ajusco #238 Int. 601 Col. Jardines en la Montaña, Mexico City, Zip Code 14210, Mexico. To subscribe to this Newsletter send an email to [email protected] or call (5255) 5662-0085. Reproduction in whole or in part is prohibited without prior permission from ASBA. The information has been obtained by ASBA from sources deemed as reliable and, in most cases, publicly available or provided by an Associate Member. However, given the possibility of human and/or mechani-cal error from our sources, ASBA does not guarantee the accuracy, adequacy or completeness of any information. ASBA is not responsible for errors, omissions, or the results from using such information. The opinions and assertions contained in articles and documents published by individual authors are the sole responsibility of the authors, and do not represent the opinion of the Association of Supervisors of Banks of the Americas, its Board of Directors or the General Secretariat. ASBA reserves the right to release documents to the supervisory community in the Region, and it does not receive any payment for doing so.
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20
Institutional Events
XCIII Session of the Board of Directors
January 30 - 31, 2020.
Mexico City, Mexico.
Workshop Meeting
How to build a curriculum for banks’ supervisors in the region
February 10 - 12, 2020.
Miami, Florida.
Courses
Bank Analysis and Examination School
March 23 - 27, 2020.
Lima, Peru.