Draft Guideline on Stress Testing
The MBA hosted a common meeting of Chief Risk Officers (CROs), and Chief Finance Officers (CFOs) of banks at the end June 2021, for high-level discussions relating to the Draft Guideline on Stress Testing by the Bank of Mauritius (BoM). Further to this meeting, the MBA has submitted consolidated comments received from Members to BoM, and has proposed that a dedicated working session be held with CROs and CFOs of banks, prior to finalisation of this draft Guideline, which draws on the stress testing principles of the Basel Committee on Banking Supervision (BCBS). Discussions inter-alia pertained to the need for a balance between frequency and complexity of stress testing exercises, its eventual co-existence with existing stress tests undertaken by banks, the specificity of international banks. Some banks would also need to invest in models and systems to implement this draft Guideline.
The Virtual Asset Business Bill 2021
The MBA has submitted written submissions on the Virtual Asset Business Bill to the Ministry of Financial Services and Good Governance, following consultation with member banks. The objective of the proposed bill is to provide for a regulatory framework for virtual asset service providers and the issuers of initial token offerings.