Items tagged with "Regulation"

India Strengthens Banking Regulation

The Reserve Bank of India (RBI) have released their annual report, detailing several supervisory measures that are underway to strengthen India’s banking system. The aim is to improve India’s credit risk and financial performance, and to increase the flow of credit to productive sectors of the economy. Included in these measures are draft guidelines on […]

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Fintech Regulation Across the EU Mismatched

The European Banking Authority (EBA) have published a report analysing how the regulatory framework is applicable to fintech firms, illustrating the changing regulatory status of fintech firms and the different approaches of authorities across Europe. The report has noted two particular developments in the regulatory status of fintech firms. Firstly, many firms are shifting from […]

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Can Regtech Solve the Fintech Problem?

As we’ve reported here before, the financial system is currently undergoing a technological revolution that regulators must respond to. Cryptocurrencies, new payment systems (tap to pay is becoming the norm) and digital banking all need new forms of oversight. At the same time, banking supervision is a highly complex system, with regulatory submissions reaching record […]

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Regulation Must Evolve to deal with Big Techs in Finance

With Facebook’s recently announced intentions to step into the world of finance with the launch of Libra, a cryptocurrency, BIS have published a timely report into the need for regulatory policy to deal with big tech in finance. The entry of big tech into finance does hold the potential for enhanced efficiency and financial inclusion, […]

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SRB Set to Shift to Full XBRL Reporting Next Year

Andreas Weller of the Single Resolution Board (SRB) made a presentation at Eurofiling last week about their upcoming shift to full XBRL reporting. The SRB are the authority charged with forming the single resolution mechanism (SRM) – a framework for the orderly closing (resolution) of failing banks within the EU, and a solution to the ‘too […]

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IMF Warn of Financial Innovation Risks

The International Monetary Fund (IMF) have added their voice to those highlighting the unique challenge big tech and fintech pose to financial stability at the opening of the G20 Seminar on “Our Future in the Digital Age” in Japan last week. Christine Lagarde, head of the IMF, voiced concerns that, if not managed with balance, […]

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IMF Call for Balance for Fintech Regulation

How best to balance the opportunities and threats presented by fast-growing Fintech? The IMF’s First Deputy Managing Director, David Lipton, called for a multilateral, international approach at the 2nd IMF Fintech Roundtable this week. Fintech has seen world-wide changes, with reduced costs and transaction times and boosts to growth and living standards – however, it […]

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Evolution or Revolution? ECB Looks to our Tech Future

Yves Mersch, Member of the Executive Board of the European Central Bank (ECB), recently made a speech on the upheaval fintech is causing to the lending and payments system. Financial technology uptake has been accelerating fast, with new technologies giving entrants better and cheaper ways to compete for core banking business. Regulation like the Payments […]

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