2022-11-16-毕马威-全球金融监管动态月刊_25页_1mb

Global Financial Regulatory Updates Summary for October 2022

Key themes in the October 2022 Global Financial Regulatory Dynamic Monthly Summary include a heightened focus on climate-related financial risks, advancements in central bank digital currencies (CBDC) and financial stability measures, regulatory reforms for consumer protection and ESG integration, and updates from major financial institutions and central banks. Below is a structured summary organized by region and key area.

A. Climate Risk and Environmental, Social, and Governance (ESG) Disclosures

• Flood: Multiple institutions released guidelines on climate risk management and ESG disclosures. The European Banking Authority (EBA) issued opinions on revised technical standards for environmental risk disclosures, while the Task Force on Climate-related Financial Disclosures (TCFD) reported on global progress, noting that 80% of companies met at least one TCFD recommendation but only 43% addressed all major elements.
• Flood: The Bank of England conducted stress tests on banks, integrating climate risks into capital frameworks, and the UK Finance Bill discussed embedding ESG factors in prudential regulation. This area involves pressure to standardize disclosures and enhance resilience against climate impacts across sectors like insurance and banking.

B. Central Bank Digital Currencies (CBDC) and Financial Innovation

• Flood: Collaborative international projects advanced CBDC development. The Bank for International Settlements (BIS) and central banks in Israel, Norway, and Sweden piloted retail CBDC prototypes, aiming for low-cost cross-border payments. The Hong Kong Monetary Authority (HKMA) completed a tech prototype for retail CBDC using wholesale systems, supporting innovations like stablecoins.
• Flood: In the US, public consultation sought input on loss absorption for bank resolution, while the Monetary Authority of Singapore (MAS) launched the Sustainable Finance Advisory Panel to guide eco-friendly finance. These efforts focus on leveraging technology for CBDC and digital tools in financial stability.

C. Financial Stability, Risks, and Regulatory Strengthening

• Flood: Agencies like the Financial Stability Board (FSB) and Bank of England monitored systemic risks, with reports on core government bond market liquidity and cyber incident reporting standards. The FSB outlined steps to improve cross-border payment systems, and the US Federal Reserve (Fed) proposed rules for orderly bank resolution.
• Flood: India's RBI updated regulations for asset reconstruction companies (ARCs) and welcomed digital bank units, alongside guidance on IT governance for tech risks. In Australia, APRA redefined capital frameworks for health insurers, ensuring resilience amid economic disruptions.

D. ESG Integration and Consumer Protection

• Flood: Europe led with EIOPA publishing green finance plans, and ESMA finalizing disclosures for sustainable finance. The UK and Hong Kong focused on anti-money laundering (AML) through expert groups and tech-driven approaches like "Sik Siky" anti-scam tools.
• Flood: Australia's ASIC enhanced consumer remedy procedures, promoting fair treatment in financial services. Regulatory bodies globally reinforced controls on digital assets, as seen in the US Treasury's climate-related financial risk assessment and the Bank of England's AI in finance guidelines.

Overall, these developments underscore a shift toward digital resilience, climate adaptation, and stricter oversight, reflecting coordination among international regulators to address emerging financial challenges.