Guidelines for Counterparty Credit Risk Management (BCBS)
These guidelines set out critical aspects of effective management of banks’ counterparty credit risk (CCR) and sound practices regarding what constitutes a robust CCR management framework. CCR is the risk that the counterparty to a transaction could default before the final settlement of a transaction’s cash flows. CCR is a multidimensional form of risk, affected by both the exposure to a counterparty as well as the credit quality of the counterparty, both of which can be sensitive to highly dynamic and fast-moving changes in financial markets.
KING V CODE ON CORPORATE GOVERNANCE FOR SOUTH AFRICA (Draft)
The King V Code on Corporate Governance for South Africa establishes a comprehensive framework for ethical and effective leadership, emphasising integrated thinking and sustainable value creation within economic, social, and environmental contexts. It defines corporate governance as the pursuit of four main outcomes—ethical culture, performance, conformance, and legitimacy—through the actions of the governing body. Critical principles include ethical leadership, balanced governing body composition, clear delegation, and robust risk and compliance management. The Code advocates stakeholder inclusivity and responsible corporate citizenship grounded in Ubuntu philosophy, guiding organisations to create value for both themselves and broader society. Governance practices are structured around steering the organisation, approving policies, overseeing management, and ensuring accountability. The Code mandates an outcomes-based, “apply and explain” disclosure approach, allowing for proportional adaptation based on an organisation’s size and complexity. It addresses essential domains: ethics, strategy, reporting, risk, compliance, stakeholder management, information governance (including emerging technologies like AI), assurance, and remuneration. Organisations are encouraged to implement leading practices, foster diversity and competence, and ensure independent oversight of committees, with transparency and continuous evaluation central to its application.
Directive in respect of Cybersecurity and Cyber-resilience within the National Payment System
In terms of section 10(1)(c) of the South African Reserve Bank Act 90 of 1989, as amended (SARB Act), the South African Reserve Bank (SARB) is required to perform such functions, implement such rules and procedures, and, in general, take such steps as may be necessary to establish, conduct, monitor, regulate and supervise payment, clearing and settlement systems.
Furthermore, the NPS Act provides for the management, administration, operation, regulation and supervision of payment, clearing and settlement systems in the Republic of South Africa, and for connected matters. The power to perform the functions as provided in the SARB Act and the NPS Act is performed by the National Payment System Department (NPSD) within the SARB. The SARB plays an important role in ensuring the safety, efficiency and resiliency of the national payment system (NPS).
Standard for Change Management and ACMP® Change Management Code of Ethics
Change is constant, but how we manage it evolves. Since its inception, the ACMP® Standard for Change Management© has been a trusted resource, guiding professionals worldwide in leading successful change. First published in 2014, the Standard was the result of a rigorous, collaborative effort that brought together over 1,100 change professionals from 57 countries, ensuring a methodology-neutral, globally relevant framework.
Cyber Risk in Central Banking (BIS)
The rising number of cyber attacks in the financial sector poses a threat to financial stability and makes cyber risk a key concern for policy makers. This paper presents the results of a survey among members of the Global Cyber Resilience Group on cyber risk and its challenges for central banks. The survey reveals that central banks have notably increased their cyber security-related investments since 2020, giving technical security control and resiliency priority. Central banks see phishing and social engineering as the most common methods of attack, and the potential losses from a systemically relevant cyber attack are deemed to be large, especially if the target is a big tech providing critical cloud infrastructures. Generally, respondents judge the preparedness of the financial sector for cyber attacks to be inadequate. While central banks in most emerging market economies provide a framework for the collection of information on cyber attacks on financial institutions, less than half of those in advanced economies do. Cooperation among public authorities, especially in the international context, could improve central banks’ ability to respond to cyber attacks.
The NIST Cybersecurity Framework (CSF) 2.0
The NIST Cybersecurity Framework (CSF) 2.0 provides guidance to industry, government agencies, and other organizations to manage cybersecurity risks. It offers a taxonomy of high-level cybersecurity outcomes that can be used by any organization — regardless of its size, sector, or maturity — to better understand, assess, prioritize, and communicate its cybersecurity efforts. The CSF does not prescribe how outcomes should be achieved. Rather, it links to online resources that provide additional guidance on practices and controls that could be used to achieve those outcomes. This document describes CSF 2.0, its components, and some of the many ways that it can be used.
Principles for the effective Management and Supervision of Climate-related Financial Risks (BCBS)
Climate change may result in physical and transition risks that could affect the safety and soundness of individual banking institutions and have broader financial stability implications for the banking system. To address climate-related financial risks within the banking sector, the Basel Committee on Banking Supervision (BCBS) established a high-level Task Force on Climate-related Financial Risks in 2020 to contribute to the Committee’s mandate to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability.
Guidelines for Sound Management of Risks related to Money Laundering and Financing of Terrorism (BCBS)
Being aware of the risks incurred by banks of being used, intentionally or unintentionally, for criminal activities, the Basel Committee on Banking Supervision is issuing these guidelines to describe how banks should include money laundering (ML) and financing of terrorism (FT) risks within their overall risk management.
Guidelines for Identification and Management of Step-in Risk (BCBS)
By publishing these guidelines, the Basel Committee on Banking Supervision aims to mitigate potential spillover effects from the shadow banking system to banks. This work is part of the G20 initiative to strengthen the oversight and regulation of the shadow banking system to mitigate systemic risks, in particular risks arising due to banks’ interactions with shadow banking entities.
Guideline on Integrating Strategy, Risk and Resilience – IRMSA 2022
IRMSA's groundbreaking guideline tackles the challenge of risk management's value proposition head-on. By advocating for the seamless integration of strategy, risk, and resilience, it empowers organisations to navigate complexity, make holistic decisions, and create sustainable value. This innovative approach promises to revolutionise how businesses operate in today's VUCA environment.
- 1
- 2