On 22 February 2022, the European Banking Authority (EBA) published its reports on the annual market and credit risk benchmarking exercises.
These exercises monitor the consistency of risk weighted assets (RWAs) across all EU institutions authorised to use internal approaches for the calculation of capital requirements. They contribute to the work the EBA is conducting
On 21 February 2022, there was published on the legislation.gov.uk website The Financial Services Act 2021 (Commencement No. 4) Regulations 2022.
The Regulations provide that on 23 February 2022 the following provisions of the Financial Services Act 2021 (Act) come into force:
On 21 February 2022, the European Court of Auditors (ECA) published a special report concerning its findings following an audit during the period 2016 to July 2021 which examined how the EU set up a single market for investment funds. The special report concludes that EU actions have enabled a single market for investment funds
On 21 February 2022, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2022/229 of 7 January 2022 which amends the list of high-risk third countries with strategic anti-money laundering (AML) and counter-terrorist financing (CTF) deficiencies set out in Delegated Regulation (EU) 2016/1675. Delegated Regulation 2016/1675 is provided for
On 21 February 2022, the European Commission published a targeted consultation on options to enhance the suitability and appropriateness assessments. The level of retail investor participation in capital markets remains very low compared to other economies which is why the Commission is preparing a new retail investment strategy, which aims to take a holistic view
On 21 February 2022, the European Payments Council (ECP) published an updated version of its 2019 guidance on, Mobile Initiated SEPA (Instant) Credit Transfer Payments and Technical Interoperability.
The updated guidance was prepared after a public consultation that took place last year and includes various updates to chapters to take into account market and
On 21 February 2022, the International Regulatory Strategy Group published a report, ‘ESG Ratings and ESG Data in Financial Services – A view from practitioners’. ESG ratings are an increasingly popular and powerful tool in helping market practitioners assess ESG or sustainability risks and opportunities. This report explores the challenges the market faces
On 21 February 2022, the European Banking Authority published updated questionnaires used for the assessment of regulatory and supervisory frameworks of third countries, to reflect certain provisions recently introduced by revised prudential regulation in the EU.
The Capital Requirements Regulation foresees that certain exposures to entities located in non-EU countries can be treated, in terms
Open Insurance is coming! On 24 January 2022, the Treasury released the Consumer Data Right (CDR) Strategic Assessment Outcomes Report (Outcomes Report). The Outcomes Report recommended expanding Australia’s CDR to Open Finance. The recommendation follows the launch of open banking in Australia in 2020, and a number of reports concerning the
On 18 February 2022, the European Commission adopted a Delegated Regulation amending Commission Delegated Regulation 2015/61 supplementing the Capital Requirements Regulation (CRR) with regard to liquidity coverage requirement for credit institutions.
Commission Delegated Regulation 2015/61 (LCR Delegated Regulation) is applicable to all EU credit institutions, including those issuing covered bonds. Such credit institutions are currently