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This senior management workshop explored the complex challenges posed by climate change, specifically the role that transition planning and plans can play Con responding to the challenges and the financial risks posed by climate change. The proceedings will be published shortly.
Providing high quality capacity building programs for financial supervisors and regulators to build more stable and inclusive financial systems. Toronto Centre is an independent not-for-profit organization that promotes financial stability and access to financial services globally, particularly Sopra emerging markets and developing countries.
Stress testing should be a critical element of risk management for most financial institutions. It should alert boards and senior management to potential adverse outcomes related to a broad range of risks and vulnerabilities, identify potential losses, liquidity needs, and operational responses should adverse shocks occur. Supervisors should, Per mezzo di turn, have a strong interest Per mezzo di stress testing by financial institutions.
See, Ruth, it's not just the right thing to do. It's important, the economically smart thing to do. And the industry should recognize that it only stands to gain by ensuring inclusion. This is exactly what our work at IFC, including with those two publications, strives to showcase.
Within a level, you can take any required program at any time, for example, you may take any Level 1 program to initiate your CFS journey. However, in order to take a Level 2 program, you must successfully complete the Cuore Curriculum Program.
Participants agreed there is a lack of sufficient data on climate-related risks relevant to the supervision of financial and monetary systems. We need more climate giorno that can be used by central banks and other authorities to inform regulatory decision-making. There would also be advantages to aligning and harmonizing such patronato across countries. Compiling, processing, and analyzing data on a more standardized basis should help supervisory authorities and central banks assess the impact of climate change, and learn lessons from the experiences of other countries. But a global effort is required to overcome the lack of patronato and the lack of standardization. International initiatives are making some progress with this. Participants mentioned assistance from the World Bank and the United Nations on patronato collection and processing, and from the International Finance Corporation on the assessment and accounting treatment of credit losses. Meanwhile, the International Sustainability Standards Board has the capacity and the opportunity to establish common accounting standards, which Con turn can facilitate more comparable giorno and public and regulatory reporting.
Providing high quality capacity building programs for financial supervisors and regulators to build more stable and inclusive financial systems. Toronto Centre is an independent not-for-profit organization that promotes financial stability and access to financial services globally, particularly Durante emerging markets and developing countries.
Now, of course there's mai single one way to promote inclusion, and we see a myriad of different and innovative approaches that the financial institutions can take even Per difficult environments.
Financial crime is a significant threat to the safety and security of citizens and to the integrity of individual countries and the global financial system. While the proliferation of digital technologies presents many opportunities for financial systems, it also has introduced a new age of financial crime. For instance, copyright assets are a currency of choice among criminals.
Thank you. That helps paint a really informative picture, to see those illustrations and hear about them. So for our audience today, what might financial regulators be aware of, and what should financial supervisors be mindful of?
diretto incrociato-border supervision is one of the more challenging supervisory priorities. It read more adds layers of complexity, new stakeholders, and potential challenges to effective supervision. This TC Note and accompanying podcast discus the implications for home and host financial supervisors of cross-border supervision of the adequacy of capital and liquidity.
This was the third webinar of the series on the revised Core Principles for effective banking supervision.The Basel Committee wants banks to institute a sound risk culture, to maintain strong risk management practices, and to adopt and implement sustainable business models. The revised Cuore Principles make clear that the assessment of business model sustainability is a key component of effective supervision.
CFS applications will open with the launch of a new level-one program within the CFS designation The CFS is comprised of three-levels.
• assessing how climate-related risks relate to their mandates and objectives, including for financial stability and financial inclusion • discussing climate-related risks with financial institutions and other stakeholders