This week’s risk management news include CBM and MFSA’s joint financial stability board, FFIEC’s draft guidance on social media risk management and CBB urging mandatory IFSB implementation amongst central banks.
CBM and MFSA establish joint financial stability board Central Bank of Malta (CBM) and the Malta Financial Services Authority (MFSA) established a joint financial stability board to strengthen the resilience of the country’s financial system and to mitigate the build-up of systemic risk. The board consists of senior officials from both CBM and MFSA, and will mirror the model adopted by the European Systemic Risk Board.
US banks instructed to establish social media risk management programme US Federal Financial Institutions Examination Council has released a draft guidance instructing banks to establish a risk management programme for social media to ensure that staff do not inadvertently release sensitive information. The programme would ensure that banks can identify, monitor and control risks related to social media.
CBB urges mandatory IFSB implementation amongst central banks Central Bank of Bahrain has urged for implementation of the Malaysian-based Islamic Financial Services Board rules and regulations among central banks to be made mandatory in order to boost growth of the industry and avoid disagreement on syariah adherence.
Re-disseminated by The Asian Banker
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