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    BCBS

    Steering climate risk: How banks can be future-ready

    Companies worldwide are assessing climate change risks, including the banking and financial services sector. Climate variability impacts sectors like agriculture, infrastructure, and energy, heavily reliant on banks for financing.

    RBI updates guidance note on operational risk management, extends it to NBFCs

    The Reserve Bank of India (RBI) updated its "guidance note" on operational risk management for the financial sector, extending it to include NBFCs and housing finance companies. The note highlights that operational disruptions can threaten the viability of regulated entities, impacting customers and financial stability. It covers various causes of disruptions, including man-made, IT threats, frauds, and natural causes. The updated note aligns with Basel Committee on Banking Supervision (BCBS) Principles and aims to enhance operational resilience and risk management in the financial system

    EU loophole lets banks dodge ECB's crypto supervision, needs fixing: Andrea Enria

    The cryptocurrency market is starting to bounce back a year after the collapse of exchange FTX and other big players in 2022 crushed prices, tarnished the industry and prompted a regulatory crackdown.

    RBI forms working group to find framework for transition to credit-loss based provisioning system

    The Reserve Bank of India has established a working group to propose a framework for a smoother transition to the expected credit loss-based provisioning system. The group, headed by R. Narayanaswamy, will provide inputs on technical aspects of the transition. The new system would be a shift from the current incurred loss-based provisioning regime. While there are concerns about the impact on banks' profits, India Ratings and Research believes that the healthy operating buffers and provision coverage ratio provide comfort. The group will also suggest factors for determining credit risk and recommend prudential floors for provisioning.

    Worried about safety of your fixed deposit in a small finance bank? Here are the 11 ways to check how safe the bank is

    Higher interest rate available on fixed deposits of small finance banks has attracted many depositor however they are always worried about the safety of their hard earned money. While all these banks under regulation of RBI however that does not give any guarantee of safety. It is better for depositors especially who are depositing higher amount to check the safety aspects thoroughly before investing.

    Crypto issue requires immediate attention, says FM Nirmala Sitharaman

    Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector. The brainstorming session was attended by global experts on this issue. Finance Minister Nirmala Sitharaman noted that there was consensus among G20 members to have a globally coordinated policy response on crypto assets that takes into consideration the full range of risks, including those specific to emerging markets and developing economies.

    The Economic Times
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