Bazar Money Transfer的动态

Governor Bowman highlights the importance of innovation in the financial system,?emphasizing its potential to improve efficiency,?reduce costs,?expand access to financial services,?and promote market competition.?However,?she also acknowledges the challenges associated with innovation,?including the need for regulators to understand new technologies and their risks and the potential for unintended consequences. Bowman stresses the importance of a regulatory environment that fosters successful innovation.?She outlines three critical steps for regulators: Understanding Technology and the Landscape:?Regulators must understand the technology behind innovations,?the various parties involved in the innovative space,?and how these innovations fit into the existing financial system. Recognising the Use Case:?Regulators need to understand the problems new technologies aim to solve,?their costs and benefits,?and their potential tradeoffs for policymakers. Anticipating the Consequences:?Regulators must predict innovations' intended and unintended consequences,?considering their impact on different financial sectors and end users. Bowman also emphasizes the importance of openness to innovation,?cautioning against regulatory scepticism and resistance,?which can drive innovation out of the regulated banking system.?She advocates for a collaborative approach between regulators and banks throughout the innovation life cycle,?emphasizing transparency and open communication. Finally,?Bowman stresses the need to consider the broader financial system,?acknowledging the interconnectedness between regulated banks and other parts of it.?She calls for a whole-of-government approach to ensure that the risks of economic activity are appropriately monitored and managed,?regardless of where they occur. Implications for Firms: Engagement with Regulators:?Firms should actively engage with regulators to educate them about their innovations,?clearly explaining the technology,?use case,?and potential risks and benefits. Transparency:?Firms should prioritize openness in their dealings with regulators,?acknowledging the known and unknown risks associated with their innovations. Collaboration:?Firms should be prepared to collaborate with regulators throughout the innovation life cycle, providing feedback and information sharing to support the development of effective regulatory frameworks. Risk Management:?Firms must proactively identify and manage the risks associated with their innovations, including potential financial stability concerns and broader impacts on the economic system. Compliance:?Firms should ensure that their innovative activities comply with all relevant regulations and guidelines within and outside the regulated banking system. #frb #digitalmarkets https://lnkd.in/eG2qWh69

With the approval of #CRD6 cross-border banking services will encounter restrictions. This will affect business in the EEA. Third-country institutions will need to assess the impact and prepare to relocate the services and bankers. Do you want to know more? Get in touch with us and read our PwC Regulatory Blog post: https://lnkd.in/dpJAuQ4D Roland Scheinert, Benjamin Münch, Stefan R?th, Kees Wegener Sleeswijk, Andreas Hock, Ludwig Schulte, CFA, Simona Wendland

#SpeakerInsights: Our Institutional Cash and Trade thought leadership APAC client roadshow was a great success, with 7 in-person physical seminars and 3 virtual sessions spanning across 10 markets in APAC from September 23 to October 2, 2024. These seminars, themed “Global Connections: Navigating the Future of Correspondent Banking”, brought together close to 500 institutional clients to hear our subject matter experts delve into the latest market trends and opportunities in correspondent banking and trade finance sectors. The global cash and trade industry remains strong despite volatile market conditions caused by geopolitical shifts and competition from digital innovators. Deutsche Bank’s Institutional Cash and Trade business is a key pillar to the Global Hausbank proposition to foster growth for our clients and serve the wider society. Our thought leadership and advisory services remain dedicated to helping clients navigate payment transformations. As the preferred correspondent banking partner, we provide insights into industry initiatives that shape the future of the payments and trade landscape. Here are three key takeaways from these insightful seminars: ?? With 1 year left before the end of the ISO 20022 Migration co-existence period, collaboration remains as the key in addressing challenges along this transformation journey as an industry. As enhancements in technology create new trends in the payment industry, partnership between the public and private sectors will be instrumental in pushing forward new frontiers. ?? Dynamics of risk management frameworks are becoming increasingly more complex in light of the evolving landscape – from the emerging risks driven by AI-enabled fraud to geopolitical-driven sanctions. Partnership is key to our risk management efforts, as we support access and inclusion through the sharing of best practices, speed of communication and working with public and private industry partners to ensure compliance with international standards and regulations. ?? With Deutsche Bank’s extensive network and global presence, we are well-positioned to support our clients across trade and payment corridors globally. Our onshore teams with strong regional knowledge, local language skills and deep client relationships enable Deutsche Bank to be the preferred partner not only for flow businesses, but also in frontier markets and emerging economies. ? For more insights on Institutional Cash and Trade Finance, visit: https://flow.db.com/ Tsvetanka Nankova, Patricia Sullivan, Sebastien Avot, Matthew Probershteyn #CorrespondingBanking #Payments #Cash #Trade?

?? **EBA Report on EU Stacking Orders and Management Buffers** ???? The European Banking Authority (EBA) published a report on July 15, 2024, concerning the stacking orders of capital, leverage, and MREL/TLAC requirements, along with related capital buffers and reflections on management buffer practices within the European Union (EU). This report outlines the role of regulatory stacks, their continuity, and dissolution, with a focus on micro-prudential elements. It also compares the frameworks between the EU, UK, and the US, and highlights institutions' practices regarding management buffers. **Key Findings:** 1. **Role of Regulatory Stacks** ?? ??- The report details the importance of regulatory stacks in understanding an institution’s capital headroom above the requirements. This includes stacks relevant to capital, leverage, and MREL/TLAC. ??- It describes both going and gone concern stacks, emphasizing their micro-prudential aspects. 2. **Differences Between Frameworks** ?? ??- The report summarizes the differences between the EU, UK, and US regulatory frameworks. ??- It provides a high-level overview of the EU's current applicable regulations and compares them with other non-EU frameworks. 3. **Management Buffers Practices** ?? ??- The analysis shows that many institutions lack a clear definition of management buffers but typically set targets based on at least one stack. ??- Most institutions set management buffer targets based on the risk-based Common Equity Tier 1 (CET1) ratio, averaging 2.4 percentage points above the Pillar 2 Guidance (P2G) as of December 2022. ??- Institutions also set targets based on risk-based Tier 1, Total capital ratios, the leverage ratio, and the risk-based MREL ratio. 4. **Factors Influencing Management Buffers** ?? ??- Internal considerations include managing unexpected risks and developing strategic and business opportunities. ??- External considerations involve expectations from supervisors, regulators, and other stakeholders. ??- Most institutions consider management buffers more usable than the capital held to meet the Combined Buffer Requirement (CBR). **Next Steps:** - The findings will inform future EBA regulatory products, including those related to the interplay between the output floor and Pillar 2. - The work will prepare for updating the supervisory review and evaluation process (SREP) Guidelines following the implementation of the EU Banking Package (CRR3 and CRD6). For further details, refer to the full report: https://lnkd.in/eKR3edQQ ???? **#EBA #RegulatoryStacks #ManagementBuffers #Banking #EU #CapitalRequirements #FinancialRegulation**

Digitalisation across financial services is prompting transformation of supervisory approaches as well as expectations. In this latest Client Alert we apply our legal lens and look at the key implications for existing firms and new entrants based on the ECB's recent communication expectations on digitalisation and sound practices. #EU #BankingUnion #ECB #SSM #financialservices #financialservicesregulation #PwCLegal #EURegCORE https://lnkd.in/e6Z9je4m

New Regulations in the Banking Industry: Challenges and Opportunities ???? The banking industry is heavily regulated, with constantly evolving rules aimed at enhancing security, transparency, and financial stability. While these new regulations bring significant challenges for banks, they also present opportunities for growth and innovation. Challenges of New Regulations ??? As regulations become more complex, banks face several new challenges: 1. Stricter Compliance: Recent regulations, such as the Personal Data Protection Act (PDPA) and Anti-Money Laundering (AML) requirements, demand stricter management of customer data. This requires investment in technology and employee training to ensure every operational aspect complies with the regulations. 2. Rising Compliance Costs: As more regulations need to be adhered to, the cost of maintaining compliance rises. Banks must allocate more resources toward compliance software, expert personnel, and regular audits to maintain high compliance standards. 3. Reputation Risk: Non-compliance with regulations not only results in hefty fines but can also damage a bank's reputation. A tarnished reputation may lead to diminished customer trust and negatively impact the bank's overall stability. Opportunities Behind New Regulations ?? Despite the challenges, new regulations also open up opportunities for banks to grow: 1. Technological Innovation: Increased regulations around data security and consumer protection encourage banks to adopt new technologies. By implementing solutions such as RegTech (Regulatory Technology) or FinTech, banks can streamline their compliance processes and improve operational efficiency. 2. Trust and Transparency: Regulations focused on transparency and consumer protection offer banks the opportunity to build stronger relationships with customers. Banks that demonstrate strong compliance and data security will gain greater customer trust, enhancing loyalty and retention. 3. Improved Risk Management: Stricter regulations around risk management allow banks to better mitigate legal and operational risks. This, in turn, supports long-term stability and improved financial performance. Conclusion ?? While new regulations in the banking industry bring challenges, particularly in terms of stricter compliance and rising costs, they also present opportunities for banks to innovate, strengthen customer relationships, and manage risks more effectively. With a proactive and adaptive approach, banks can turn these regulations into a foundation for growth and long-term sustainability. #BNIUniversity #BUMNLearningFestival #BLF-BNI

As regulatory frameworks continue to evolve, the need for tech-driven solutions has never been more critical. Recent updates from the PRA highlight the growing pressure on financial institutions to not only meet regulatory standards but also to support economic growth. Changes to the Senior Managers Regime and moves to streamline legacy rules are just the beginning. For CTOs and senior leadership teams, the challenge is clear: navigating these complex, shifting regulatory landscapes requires more than manual processes. RegTech has emerged as a necessary enabler. Automated solutions help streamline compliance, reduce the administrative burden, and provide a framework that integrates with evolving regulations. This isn’t just about saving costs—it's about ensuring that as rules change, your institution can adapt swiftly, without exposing itself to unnecessary risks. The current regulatory shift isn’t just about trimming down excess; it’s about creating a more agile and resilient banking sector. But to fully embrace this shift, we must be proactive. Relying on outdated systems in this increasingly regulation-driven world is no longer sustainable. The path forward is clear: embedding regulatory compliance within your core operations through advanced RegTech. It may feel like a significant change, but the long-term gains—enhanced transparency, improved governance, and reduced risk—are undeniable. In an era of regulatory complexity, innovation isn’t an option; it’s a necessity.

Japan securities authority?(Securities & Exchange Surveillance Commission, SESC) has?recommended banking regulatory?(Financial Services Agency, FSA) to?penalize Mitsubishi UFJ Financial Group?for?unauthorized sharing of client information?between?MUFG Bank & 2 securities brokerage joint ventures?(setup in 2010 with Morgan Stanley) for?4 years from 2020 to 2023.??MUFG Bank also?provided preferential lending rates to clients for doing business with the 2 securities brokerages.??Read - https://lnkd.in/gZwWnxDW follow Caproasia | Driving the future of Asia Japan securities authority?(Securities & Exchange Surveillance Commission, SESC) has?recommended banking regulatory?(Financial Services Agency, FSA) to?penalize Mitsubishi UFJ Financial Group?for?unauthorized sharing of client information?between?MUFG Bank & 2 securities brokerage joint ventures?(setup in 2010 with Morgan Stanley) for?4 years from 2020 to 2023.? MUFG Bank also?provided preferential lending rates to clients for doing business with the 2 securities brokerages.? Japan firewall regulations do not allow banks & securities brokerages (in the same group) to share information without clients agreement.? Mitsubishi UFJ Financial Group?(14/6/24): “Japan’s Securities and Exchange Surveillance Commission (“SESC”) today announced that, based on the results of its investigation, it has recommended that the Prime Minister and the Commissioner of the Financial Services Agency (“FSA”) take administrative action against MUFG Bank and MUMSS.? We sincerely apologize for the inconvenience and concern this has caused our customers and other stakeholders.??The SESC’s recommendation was made in response to requests for administrative action in relation to problems with MUFG Bank and MUMSS’ banking-securities collaborative business, management of information (including pertaining to corporate relationships), and monitoring systems in relation to these matters.??MUFG, MUFG Bank, and MUMSS (collectively, the “MUFG Group Companies”) take this recommendation very seriously.? In line with amendments to the “Comprehensive Guidelines for Supervision of Financial Instruments Business Operators, etc.,” in June 2022, the MUFG Group Companies recognized issues related to compliance systems, internal control systems, etc., pertaining to our banking-securities collaborative business, and have made various adjustments. We accept that the current recommendation calls for the appropriate enhancement and acceleration of internal control and checking functions of the MUFG Group Companies in a manner that suits the actual conditions of the banking-securities collaborative business, etc ... ... MUFG Morgan Stanley

European Banking Authority (EBA) releases final report on greenwashing in banking sector, which aims to outline greenwashing risks in the banking industry and its impact on industry participants #esg #esginvesting

What is the value of a successful CDR implementation to the Dataholder (Bank)? The recent CDR summit sparked discussions about the ABA and Financial Review reports on CDR. But has the investment in CDR been worthwhile? Is there a return? Working with an ADR, of course, I would say yes. However, let's consider the value of attracting new business and, just as importantly, retaining existing customers, which is a key factor in the Bank's success. We've recently seen first-hand the value of an exemplary vs. bad implementation and how a business consumer included the implementation of CDR as a factor in deciding which Bank to use. This is a large business, and whichever way you measure customer value, it was a great customer, so they had high FUM, high use of bank services, good gross revenue to the Bank, and definitely a "name business" in the APAC region to aid a Bank's reputational value. The TLDR of the situation was that they thought their current Bank was a bit "meh", and they were considering a switch. They set up an account with this new Bank and consented to share with their accounting solution. The consent process for the new Bank was ordinary; the data delivery was slow, and the quality of transaction descriptions was ok, but worse still, there were gaps in transactions, which caused issues with the reconciliation of balances to transactions. The data eventually arrived and reconciled, but the lag caused accounting and operational concerns. In contrast, the incumbent 'meh' Bank had no problems implementing CDR. The result is that this valuable business consumer does not move banks and is retained. How often does this need to happen for a bank to get an ROI on its implementation of CDR? #cdr #consumerdataright #openbanking #clientrentention #fintech ??