Replace all previous operational risk capital approaches (advanced measurement approach and three standardised approaches) with a single, risk-sensitive standardised approach for all banksNew reporting requirements and supervision.Enact COFI Bill to harmonise market regulationRegulation of fintech, crypto assets and digital payment providersRisk-based supervision and capital adequacy reforms through enhanced monitoring, stress testing and reportingStrengthening governance and investment oversight in pension funds through new standards and proactive supervisionMove to new benchmark rate for money markets by phasing out JIBAR benchmark rate.Corporation for Deposit Insurance (CODI) – Provision for protection in event of bank failure in March 2023; Provisions for collecting premiums effective from 1 April 2024Capital flows management framework review; fostering business growth, promoting investment in the region, promoting trade; fostering business growth, promoting investment in the region, promoting tradeConsolidation of four ombuds offices into a single redress system.
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