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Global Payments Newsletter, July 2021 | Hogan Lovells


Europe: EBA consults on proposed guidelines on limited network exclusion under PSD2
On 15 July 2021, the EBA published a consultation paper (EBA/CP/2021/28) proposing guidelines on the limited network exclusion (LNE) under PSD2.
The EBA explains that Article 3(k) of PSD2 introduced an exclusion for services based on specific payment instruments that can be used only in a limited way. It believes that the implementation and application of the LNE requirements diverges significantly between member states, which impedes the single market for payment services in the EU and creates opportunities for regulatory arbitrage. The EBA also believes that consumers are sometimes unaware that they do not benefit from the protection envisaged under PSD2. ....

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Banking and finance regulatory news, July 2021 #3 | Hogan Lovells


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Reports on key UK and EU recent regulatory developments focussing on banking and finance. See also our supplementary Financial institutions general regulatory news and other sector news in the Related Materials links.
Content
UK implementation of Basel III standards: PRA PS17/21
COVID-19: PRA removes guardrails on shareholder distributions by large banks
GBP LIBOR loan contracts: Sterling Working Group publishes timelines and considerations for borrowers
BRRD: RTS on estimating Pillar 2 and combined buffer requirements for setting MREL
CRR: EBA guidelines on criteria for use of data inputs in risk-measurement model ....

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DPF reports seamless progress despite limitations of Covid-19


April 6, 2021
Written by John Musinguzi
DPF Staff front row (L-R): Joseph Luboyera, Justine Komugisha, Julia Clare Olima Oyet, Peter Mugisa. Back row (L-R): Hashim Kirungi, Moses Tamale, Balaam Ssempala, Moses Apell Odongo and Felix R. Nsiimoomwe
The Deposit Protection Fund of Uganda (DPF) is in celebratory mood after releasing its highly favourable annual financial report for year ending June 30, 2020. This was in spite of the Covid-19 disruptions to economic activity in the third quarter, writes JOHN MUSINGUZI.
The 98-page report was officially released and uploaded on the website on February 23, 2021. It is a comprehensive expose on the three-year-old autonomous agency’s mandate, structure, financial performance over the reporting pe ....

Balaam Ssempala , Hashim Kirungi , Peter Mugisa , Julia Claire Olima Oyet , Felixr Nsiimoomwe , Joseph Luboyera , Justine Komugisha , Julia Clare Olima Oyet , Moses Apell Odongo , Ben Patrick Kagoro , International Association Of Deposit Insurers , Deposit Protection Fund Of Uganda , Kenya Deposit Insurance Corporation , Central Bank , World Bank , Finalised Financial Institutions Deposit Protection Fund Regulations , Economic Development , Moses Tamale , Deposit Protection Fund , International Association , Deposit Insurers , Board Chairman , Director Charter , Principles Paper , Finalised Financial Institutions , Human Resource Related ,

KDIC boss to head African unit of deposit insurers' lobby


KDIC boss to head African unit of deposit insurers lobby
Monday March 15 2021
By BONFACE OTIENO
The Kenya Deposit Insurance Corporation (KDIC) chief executive Mohamud Ahmed Mohamud has been appointed the new chairperson and President of the Africa Regional Committee of the International Association of Deposit Insurers (IADI).
The appointment for the rotational post, whose occupants serve for a period of two years, takes effect immediately.
Mr Mohamud takes over from Nigeria’s Deposit Insurance Corporation (NDIC) chief executive Umaru Ibrahim, who had succeeded former Deposit Protection Corporation of Zimbabwe CEO John Chikura in September 2018.
“This is a big honour for the East Africa region and Kenya to be specific,” Mr Mohamud told the ....

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Kenyan elected President of African committee of deposit insurers


The East African
Monday March 15 2021
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The Kenya Deposit Insurance Corporation’s (KDIC) Chief Executive, Mohamud Ahmed Mohamud, has been elected the new Chairman and President of the African committee of deposit insurers.
Mr Mohamud’s unanimous endorsement now puts Kenya at the helm of the African Regional Committee (ARC) of the International Association of Deposit Insurers (IADI) for the next two years.
He takes over from his Nigerian counterpart, Mr Ibrahim Umaru of NDIC, following the expiry of his term.
The appointment marks a sign of confidence that global deposit insurance schemes have in East Africa’s nascent deposit insurance schemes and the reforms that the KDIC has put in place towards resolving problem banks and preventing further bank failures in Kenya. ....

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