What is German KWG?
“KWG” is the abbreviation for the German Banking Act (“Kreditwesengesetz”). The aim of the KWG is to regulate and bring order to the credit market.
What are prudential guidelines?
Prudential regulation is a type of financial regulation that requires financial firms to control risks and hold adequate capital as defined by capital requirements, liquidity requirements, by the imposition of concentration risk (or large exposures) limits, and by related reporting and public disclosure requirements …
Who regulates German banks?
The Federal Financial Services Authority
BaFin is Germany’s financial regulator and is responsible for ensuring the stability and integrity of the German financial system. The Federal Financial Services Authority (BaFin) was established in 2002 to serve as the primary regulator of Germany’s financial markets and institutions.
Who regulates banks in Kenya?
The Central Bank of Kenya
The Central Bank of Kenya (CBK) is the sole regulator of banking and financial institutions. The CBK is responsible for both prudential supervision of all banking institutions in the country and consumer protection. The CBK is responsible for overall stability and managing systemic risks.
Who is responsible for prudential regulation?
the Bank of England
The Prudential Regulation Authority (PRA) is a part of the Bank of England and responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. It sets standards and supervises financial institutions at the level of the individual firm.
When did prudential regulation start?
We were established as part of a new wave of regulation in financial services after the financial crisis of 2007. We now supervise around 1,500 financial institutions including banks and insurance companies.
What is the FCA equivalent in Germany?
BaFin
The Federal Financial Supervisory Authority (German: Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany.
What is BaFin responsible for?
Germany
federal level of Germany
Federal Financial Supervisory Authority/Jurisdiction
What is prudential guidelines in banks?
The objectives of these regulations are: Prudential—to reduce the level of risk to which bank creditors are exposed (i.e. to protect depositors) Systemic risk reduction—to reduce the risk of disruption resulting from adverse trading conditions for banks causing multiple or major bank failures.
How banks are regulated in Kenya?
The banking sector is regulated by the Central Bank and the governing legislation is the Banking Act, Cap 488 of the Laws of Kenya. The insurance sector is regulated by the Commissioner of Insurance and the governing legislation is the Insurance Act Cap 487.
Are prudential standards law?
Prudential Standards: These set out APRA’s minimum requirements in relation to capital, governance and risk management (although in most cases APRA doesn’t specify exactly how those outcomes must be achieved). They are legally binding, and APRA-regulated entities must comply with them.
What is prudential Policy Directorate?
The Prudential Regulation Authority (PRA) is a United Kingdom financial services regulatory body, formed as one of the successors to the Financial Services Authority (FSA). It sets standards and supervises financial institutions at the level of the individual firm.