Poco conosciuto fatti circa https://www.torontocentre.org/.
Poco conosciuto fatti circa https://www.torontocentre.org/.
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The worldwide total of forcibly displaced persons (FDPs) reached 110 million in 2022, with the cross-border refugee population standing at 36.4 million Con 2023. The continuing diretto incrociato-border refugee crisis caused by global conflict has created great vulnerabilities for FDPs. This TC Note and accompanying podcast discuss the expansion of access to finance for FDPs and the unique challenges it presents for financial regulators and supervisors, such as the need to comply with customer paio diligence requirements under AML/CFT legislation.
Of course. Financial regulators and supervisors play a key role Durante the expansion of inclusive practices by banks, especially since Sopra a lot of cases they set the tone for how banks act. That's why we believe that it's important that regulators and supervisors advocate for the inclusion of LGBTI people and persons with disabilities. And so to that end, both of our reports end with a call to action, if you will.
Of course. We found plenty of examples for both LGBTI inclusion and disability inclusion Per emerging markets, and I'm happy to share some highlights. For example, Argentinian state-owned Banco de la Nacion announced a 1% target for transgender people Per the workforce as part of an agreement with the banking industry's labor union, Asociacion Bancaria. The Kenya Bankers Association, or KBA, adopted financial inclusion for persons with disabilities as a strategic goal Per 2019, and since then, the KBA has worked with several banks operating Per Kenya as well as the independent trust called Financial Sector Deepening Kenya and local nonprofit called Enable to develop a roadmap for the industry to tackle accessibility challenges.
John, thank you so much for joining us today to talk about these very insightful and compelling reports.
Thanks John. For the benefit of our audience today, could you please explain a few of the terms and definitions used Sopra the IFC research? John Arzinos: While there's voto negativo universally accepted definition of disability, according to the United Nations, and I'm quoting, "Persons with disabilities include those who have-long term physical, mental, intellectual, or sensory impairments, which, in interaction with various barriers, may hinder their full and effective participation in society on an equal basis with others."
This TC Note and podcast brings together principles and practices related to financial sector oversight that are relevant to financial inclusion, including proportionate regulation, risk-based supervision, and consumer empowerment. They emphasize the need to understand and manage linkages and trade-offs between different policy areas, and cover some traversone-cutting issues that supervisors are facing, such as new innovations and sources of competition, gender disparities Per financial inclusion, and the role of financial inclusion Durante crisis responses.
To give you an example, Per mezzo di fiscal year 2021, IFC committed a primato 31 and a half billion US dollars to private companies and financial institutions Per developing countries. We are leveraging the power of the private sector to end extreme poverty and boost shared prosperity. All this as economies, of course, grapple with the impacts of the COVID-19 pandemic.
diretto incrociato-border supervision is one of the more challenging supervisory priorities. It 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.
Thank you to all the participants, program leaders, and staff at FSC Jamaica for making these programs successful. We look forward to continued collaboration.
Toronto Centre provides programs for financial supervisors, regulators, central bankers and deposit insurers to help them build and maintain stable, resilient and inclusive financial systems. Programs can be delivered virtually or Per mezzo di person. FILTER EVENTS/PROGRAMS
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This TC Note and accompanying podcast address the rapid rise of cyber risk, which presents unique challenges to the financial sector. They provide guidance on how to determine an effective strategy t.. Read More
Fourth, Sopra this context participants mentioned the climate scenarios developed and refined by the NGFS. These included a mixture of physical and transition risk events based on the timing and magnitude of government interventions to slow global warming. These scenarios have already been applied by some supervisory authorities and central banks and found to be useful Per mezzo di highlighting potential impacts on the financial system. But there is also a need to consider further how the scenarios might be adjusted for different regions, countries and industry sectors; and whether even these scenarios are sufficiently tough. For example, some insurance supervisors have discussed with the NGFS whether the scenarios should contain much larger stresses. Fifth, one purpose of traditional stress and quinta testing is to consider whether individual financial institutions (or financial systems more generally) have taken on too much of some types of risk, and hold too little capital against these risks. What is the equivalent of this for climate-related stress and scena tests? There is scope to categorize borrowers and issuers (beginning at an industry sector level, but perhaps moving on to looking separately at the largest borrower and issuers) according to (a) how badly they might be affected by climate-related risks, and (b) the extent to which they are producing harmful emissions. These categories could then be used to categorize lending financial institutions and investing financial institutions according to their credit or investment portfolios. Consideration can then be given to whether financial institutions are complying with “green guidelines,” and whether risk weightings and capital requirements could and should be adjusted to reflect climate-related risks. It was noted, however, that although the above categories (a) and (b) may be closely correlated Sopra here terms of transition risks, this may not be the case for physical risks. For example, some industry sectors Durante some countries may be vulnerable to physical risks, but they may not themselves generate harmful emissions. Finally, climate-related risks can be considered Sopra terms of their impacts on traditional risks such as credit, insurance, market, conduct, and operational risks. However, many financial institutions – even some larger ones Per developed economies – are still not integrating climate-related risks into their risk management. So we are far from where we need to be, Durante terms of basic risk management let alone stress and scenario testing. Green transformation financing
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