Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
US Treasury fines Bank of America $1.2 billion over anti-money-laundering failures
The penalty on the second-largest US bank is the third-largest in Treasury history and includes $750 million that goes to the Office of the Comptroller of the Currency, its largest fine.
OCC finds all nine largest national banks had policies restricting services on beliefs or sectors
The Office of the Comptroller of the Currency reviewed nearly 100,000 complaints and about 50,000 bank documents, and says it will assess further changes to the framework for the largest banks.
BSP requires banks to use Basel III approach for operational risk capital
Full implementation of quarterly capital adequacy ratio reports under the new approach begins at the end-December 2027 reporting period, after a monitoring phase in which banks file parallel reports under old and new methods.
EU top court rules banks must refund fraud victims immediately, even if they allege gross negligence
The EU Court of Justice says banks must refund account fraud victims first, even when they allege gross negligence, and may reclaim losses afterwards, a ruling that bears on how banks handle fraud claims.
Swiss Senate committee backs bank liquidity law, limits upfront fee to UBS
A Council of States committee supports enshrining the public liquidity backstop in law but wants the upfront fee confined to banks with substantial foreign business, which today means only UBS.
FINMA finds PostFinance emergency plan falls short while ZKB and Raiffeisen comply
Switzerland's regulator says PostFinance's emergency plan does not yet meet all regulatory requirements, while those of ZKB and Raiffeisen do, and it expects the identified gaps to be closed promptly.
PBOC approves Visa unit's bid to prepare a bank card clearing institution in China
China's central bank has approved Visa's application to set up a bank card clearing institution, a step that would let the card network clear and issue renminbi cards once it is cleared to operate.
CPMI and IOSCO issued final business-risk guidance for global market infrastructures
CPMI and IOSCO finalised guidance for financial market infrastructures to reassess liquid net assets funded by equity, recovery plans, governance and disclosures under existing global principles for critical services.
PRA removes firm-specific 15% cap on high loan-to-income mortgage lending
The PRA's removal of the firm-specific 15% cap on high loan-to-income lending gives mortgage lenders more flexibility to set their own strategies, within an aggregate limit, from 28 October.
India’s Supreme Court Invalidated ₹84.15 Billion Yes Bank AT1 Write-Off
India’s Supreme Court upheld the invalidation of Yes Bank’s ₹84.15 billion AT1 bond write-off, a ruling that could reshape expectations for bank-resolution instruments and investor remedies.
New Zealand Bank Stress Test Cut Aggregate CET1 Ratio to 8.5%
New Zealand’s four largest banks remained above minimum capital requirements in a severe joint stress test, although their aggregate CET1 ratio fell 4.7 percentage points to 8.5%.
FSB Finalised Twelve AI Governance Practices for Global Financial Institutions
The Financial Stability Board finalised 12 non-binding practices for responsible AI adoption, strengthening human oversight, board accountability and approval triggers for higher-risk agentic uses across financial institutions.