The European Parliament’s Committee on Economic and Monetary Affairs has published a draft report on the proposal for a Regulation of the European Parliament and the Council of the EU on structural measures improving the resilience of EU credit institutions.
Deletions are indicated in bold italics in the left-hand column, replacements are indicated in bold italics in both columns and new text is indicated in bold italics in the right-hand column.
The European Banking Authority (EBA) has published an updated list of capital instruments that Member State competent authorities across the EU have classified as common equity tier 1 (CET1) capital under Article 26(3) of the Capital Requirements Regulation.
Three new CET1 instruments have been included and two instruments have been deleted. The new instrument are included in new rows and the deleted ones are highlighted with strikethroughs.
The European Banking Authority (EBA) has published its guidelines on materiality, proprietary and confidentiality and on disclosure frequency relating to Articles 432(1),(2), and 433 of the Capital Requirements Regulation.
Since 2009 the EBA has performed a series of assessments of regulatory disclosures which have shown that the concepts of materiality, proprietary and confidentiality have been implemented differently by different institutions, and that few disclosures have been provided on the implementation of these concepts and on information that has therefore not been disclosed.
The European Securities and Markets Authority (ESMA) has published a consultation paper on draft regulatory technical standards (RTS) on a European Electronic Access Point (EEAP).
The draft RTS set technical requirements regarding access to regulated information at Union level and relate to the following:
The UCITS Directive allows for different share classes to be offered to investors, but does not prescribe whether, and to what extent, share classes of a given undertaking for collective investment in transferable securities (UCITS) can differ from each other. As a result, ESMA has identified diverging national practices as to the types of share class that are permitted, ranging from very simple share classes to much more sophisticated ones.
ESMA has now published a discussion paper on share classes of UCITS as it sees merit in developing a common understanding of what constitutes a share class of UCITS and of the ways in which share classes may differ from each other.
The Joint Committee of the European Supervisory Authorities has published final draft regulatory technical standards (RTS) on risk concentration and intra-group transactions under Article 21a(1a) of the Financial Conglomerates Directive (FICOD).
The final draft RTS aim to:
The Joint Committee of the European Supervisory Authorities (the Joint Committee) has published a discussion paper on the use of credit ratings by financial intermediaries.
The aim of the discussion paper is to:
In April 2012, the Committee on Payment and Settlement Systems, now known as the Committee on Payments and Markets Infrastructures (CPMI), and the International Organisation of Securities Commissions (IOSCO) published ‘Principles for financial market infrastructures’ (the Principles). Annex F of the Principles outline five oversight expectations for critical service providers in order to support a financial market infrastructure’s (FMI) overall safety and efficiency.
Key oversight expectations applicable to critical service providers include:
On December 30, 2014, the Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) published in the Federal Register interim final rules amending their capital, lending limit and liquidity regulations to ensure that they are not affected by the implementation of special resolution regulations in jurisdictions outside the United States and
The Basel Committee on Banking Supervision (BCBS) has published a consultation paper on capital floors and the design of a framework based on standardised approaches.
The proposed framework will replace the current transitional floor, which is based on the Basel I standard, with a revised capital floor framework based on the Basel II/III standardised approaches, which allows for a more coherent and integrated capital framework.