On 25 June 2024, the following Commission Delegated Regulations were published in the Official Journal of the EU (OJ):
DORA Commission Delegated Regulations published in OJ
30 June 2024 – MiCAR’s first milestone
Regulation (EU) 2023/1114 on Markets in Crypto-assets (MiCAR) establishes a regime for the regulation and supervision of crypto-asset issuance and crypto-asset service provision in the EU. It came into force on 29 June 2023.
MiCAR establishes a regime for the regulation and supervision of crypto-asset issuance and crypto asset service provision in the
EBA publishes final draft RTS on the SA-CCR
On 24 June 2024, the European Banking Authority (EBA) published its final draft amending regulatory technical standards (RTS) on the standardised approach for counterparty credit risk (SA-CCR).
The final draft RTS is part of the new roadmap on the EU Banking Package.
In December 2019, the EBA finalised and
EBA updates Pillar 3 disclosure framework finalising the implementation of the Basel III Pillar 3 framework
On 21 June 2024, the European Banking Authority published a Final Report on draft Pillar 3 implementing technical standards (ITS) due to the Capital Requirements Directive VI and the Capital Requirements Regulation III (CRR 3).
The CRR as amended by the CRR 3 mandates the EBA, in articles 434a, to develop
Key dates next week
Global
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EU
- 25 June 2024 – On 25 March 2024, Commission Delegated Regulation (EU) 2024/911 of 15 December 2023 supplementing the UCITS Directive with regard to regulatory technical standards (RTS) specifying the information to be notified in relation to the cross-border activities of management companies and undertakings for collective investment in transferable
Strengthening bank capital standards in EU: the final phase of Basel III Implementation
On 20 June 2024, the European Banking Authority (EBA) published a speech by its chair, José Manuel Campa, entitled Strengthening bank capital standards in EU: the final phase of Basel III Implementation.
Key points in the speech include:
- The EU Banking Package granted the EBA 140 mandates, primarily consisting of technical standards
FCA confirms it will keep trading apps under review over gaming concerns
On 20 June 2024, the Financial Conduct Authority (FCA) published the results of its research on digital engagement practices.
In an online experiment with over 9,000 consumers, the FCA found that digital engagement practices (DEPs) used by trading apps (such as push notifications and prize draws) can increase trading frequency and
EBA Final Report – Draft RTS on the conditions for assessing the materiality of extensions and changes to the use of alternative internal models and changes to the subset of the modellable risk factors referred to in Article 325bc under Article 325az(8)9a) CRR
On 20 June 2024, the European Banking Authority (EBA) issued a Final Report containing draft Regulatory Technical Standards (RTS) on conditions for assessing the materiality of extensions and changes to the use of alternative models and changes to the subset of the modellable risk factors referred to in Article 325bc under
SRB to develop new expectations on valuation capabilities
On 20 June 2024, the Single Resolution Board (SRB) issued a press release stating that it will produce new expectations on valuation capabilities including:
- Banks under its remit setting up permanent valuation data repositories.
- An enhanced and streamlined SRB valuation data set taking current regulatory initiatives into account.
- Valuation playbooks.
The SRB will
Council agrees its position on simpler financial reporting requirements
On 19 June 2024, the Council of the EU (Council) issued a press release stating that it had reached agreement on the text of the proposed Regulation amending Regulations (EU) No 1092/2010, (EU) No 1093/2010, (EU) No 1094/2010, (EU) No 1095/2010 and (EU) 2021/523 as regards certain reporting requirements in the fields of