Toronto Centre Podcasts Toronto Centre

The worldwide total of forcibly displaced persons (FDPs) reached 110 million in 2022, with the cross-border refugee population standing at 36.4 million in 2023. The continuing cross-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 due diligence requirements under AML/CFT legislation.They also outline actions that supervisors can take towards achieving financial inclusion for FDPs, including adopting risk-based approaches to customer identification requirements, implementing financial education programs, and encouraging the development of financial infrastructure in refugee centres.Speaker: Mercy Buku, Program Leader, Toronto CentreHost: Ruth Dueck-Mbeba, Financial Inclusion Advisor, Toronto CentreRead the transcript here (https://torcentre.sharepoint.com/:b:/s/Files/EeV_t4odCS9CqUoVIfJtPVYB7Az0s54prAuvUsPzGGIzVw?e=pZxMi6). Read their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/Ef32biDwqcpAhcDrJv9lxmYBv-Y4ioTewiAzL6wLneWmbw?e=6zbAs3).https://www.torontocentre.org/ (https://www.torontocentre.org/)

Cross-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. They also consider the challenges of cross-border supervision and conglomerate supervision.Speaker: Brad Shinn, Program Leader, Toronto CentreHost: Arvind Baghel, Program Director, Toronto CentreRead the transcript here (https://torcentre.sharepoint.com/:b:/s/Files/ETaVp_HaUqZJon3J0PJ2hBYBubgUtHuFizXCMbKm8HsyJQ?e=pl7zA9). Read their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/EaXsdyPNKlJJq_JxMaA5V0sBVwPgEZrwd1BhTbwa2qpF2g?e=Qjsy0n).https://www.torontocentre.org/ (https://www.torontocentre.org/)

Financial crime is a significant threat to the safety and security of citizens and to the integrity of individual countries and the global financial system. While the proliferation of digital technologies presents many opportunities for financial systems, it also has introduced a new age of financial crime. For instance, crypto assets are a currency of choice among criminals.The panel discussed:* The importance of global implementation of FATF’s standards to ensure responsible financial sector growth* Using the latest data technologies to combat financial crime* How financial supervisors can better detect criminal activity and enhance know-your-customer protocols* How policymakers and supervisors can advance global coordination to combat financial crimeOpening Remarks:Ian Gorst, Minister of External Affairs, Government of JerseyPanelists:Abdul Rasheed Ghaffour, Governor, Bank Negara MalaysiaT. Raja Kumar, President, Financial Action Task Force (FATF)Cecilia Skingsley, Head, BIS Innovation Hub, Bank for International Settlements Moderator:Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto CentreRead their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/Eb1vnWGoURZPlXBSk05EU7oByzKqkyYFRK2S8c67JFQWKg?e=Ctgc3A). https://www.torontocentre.org/ (https://www.torontocentre.org/)

The nature of retail conduct supervision, which can often be more prescriptive and rules based, can result in different approaches to intervention.This TC Note and accompanying podcast discusses how supervisors should take a more proactive risk-based approach to dealing with potential areas of misconduct and apply the key principles of risk-based supervision to facilitate an earlier identification and remediation of issues.Speaker: Karen Badgerow, Program Leader, Toronto CentreHost: Chuin Hwei Ng, Senior Program Director, Toronto CentreRead the transcript here (https://torcentre.sharepoint.com/:b:/s/Files/EYQgubQNQJ5MoCPS4rFMRDQBh-b2-PW26BZTjlu5o1Bz7w?e=b6g7Og). Read their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/ESDpZ3KIsRBPt-SuNU0M4_wBUcTDS4MUpm6BsrGfw8w0aQ?e=wCOShm).https://www.torontocentre.org/ (https://www.torontocentre.org/)

Stress testing should be a critical element of risk management for most financial institutions. It should alert boards and senior management to potential adverse outcomes related to a broad range of risks and vulnerabilities, identify potential losses, liquidity needs, and operational responses should adverse shocks occur. Supervisors should, in turn, have a strong interest in stress testing by financial institutions. This TC Note and accompanying podcast discusses the need for financial institutions to conduct stress testing, what types of stress tests and scenario analyses are used, possible adverse outcomes, key areas in stress testing supervision, and the possible usages of the results by financial institutions.Speaker: Clive Briault, Chair, Banking Advisory Board, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here (https://torcentre.sharepoint.com/:b:/s/Files/EVfrFLns1UZKnd4Ds13YbYUBsQBCIy5TCZaS2nCbpc910w?e=NMZYDB). Read their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/EXYXp0lnheNPukeADOVvxKMB6nnY6i1HF_Xj1YJatJwMJw?e=8RySB7).https://www.torontocentre.org/ (https://www.torontocentre.org/)

Supervisory stress testing is a technique used to assess the robustness of financial institutions and the broader financial system to severe but plausible shocks. Since the Global Financial Crisis of 2008, it has emerged as an important tool for supervisors that complements other approaches and methods.Stress testing is one of the more complex tasks undertaken by supervisory authorities. Primarily used to inform solvency and liquidity adequacy assessments, it is also a critical method for exploring emerging risks and the threats they pose to financial institutions.This TC Note and accompanying podcast discusses the design, effective use, limitations, and interpretation of stress tests by financial supervisors. It explores a range of stress tests, from elementary, top-down applications to more sophisticated tests using scenarios applied bottom-up to multiple financial institutions. Speaker: R. Barry Johnston, Program Leader, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here (https://torcentre.sharepoint.com/:b:/s/Files/EWoeM-QRr4hItXKdywSn7cIBcUPwZGoZ5jUwAg2J8RupFA?e=fvxLds). Read their biographies here (https://torcentre.sharepoint.com/:b:/s/Files/EUlvwnq_mABJrNwN_X1UDcYB7grhF0Dkz1XXExRI8NHsBA?e=CoZZsA). https://www.torontocentre.org/ (https://www.torontocentre.org/)