On 29 November 2022, the PRA published Policy Statement 9/22: Amendments to the PRA’s approach to identifying other systemically important institutions (PS9/22). The PRA is required to identify and publish a list of other systemically important institutions (O-SIIs) under Article 32 of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014 (the Capital Buffers … Continue Reading
On 29 November 2022, the PRA announced that, in line with previous announcements, the other systemically important institutions buffer rate will be maintained at 2019 levels.… Continue Reading
On 28 November 2022, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2022/2311 of 21 October 2022, amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards temporary emergency measures on collateral requirements. Article 1 modifies Articles 39 and 62 of Commission … Continue Reading
On 24 November 2022, the European Commission published a Commission Delegated Regulation supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) of the calculation of risk-weighted exposure amounts of collective investment undertakings (CIUs) under the mandate-based approach. The provisions in the Commission Delegated Regulation specify how institutions are to calculate the … Continue Reading
On 18 November 2022, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2022/2257 of 11 August 2022, supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards specifying the calculation methods of gross jump-to-default amounts for exposures to debt and equity instruments and for exposures … Continue Reading
On 3 November 2022, the European Banking Authority (EBA) published a report on the application of the infrastructure supporting factor. The report analyses the lending trends and riskiness of infrastructure loans which have benefited from a capital reduction due to the introduction of the so-called Infrastructure Supporting Factor (ISF) according to Article 501a of the … Continue Reading
On 20 October 2022, there was published in the Official Journal of the European Union Corrigendum to Commission Implementing Regulation (EU) 2022/389 of 8 March 2022 laying down Implementing Technical standards for the application of the Investment Firms Directive with regard to the structure, content lists and annual publication date of the information to be … Continue Reading
On 20 October 2022, the European Banking Authority (EBA) published a new set of guidelines and two final draft Regulatory Technical Standards (RTS) specifying technical aspects of the revised framework capturing interest rate risks for banking book (IRRBB) positions. The new guidelines and draft RTS complete the onboarding into EU law of the Basel standards … Continue Reading
On 18 October 2022, the European Commission published a Commission Delegated Regulation amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards temporary emergency measures on collateral requirements. The delegated act introduces a modification to Commission Delegated Regulation (EU) No 153/2013. Article 1 modifies Articles 39 and 62 of Commission … Continue Reading
On 12 October 2022, the PRA published Consultation Paper 12/22 ‘Risks from contingent leverage’ (CP12/22). In CP12/22 the PRA proposes to update its supervisory expectations for firms undertaking an Internal Capital Adequacy Assessment process (ICAAP) in relation to the risks from contingent leverage, and to introduce a new data reporting requirement for collecting data on … Continue Reading
On 12 October 2022, the Single Resolution Board (SRB) and the European Central Bank (ECB) reached an ‘in principle’ agreement on the margin for redeeming eligible liabilities under Article 78a(1)(b) of the Capital Requirements Regulation. The new ‘In principle’ agreement is applicable to authorisations granted as of 1 January 2023, including General Prior Permission (GPP) … Continue Reading
On 12 October 2022, the European Banking Authority (EBA) issued a press release stating that given the overlap with the Implementing Technical Standards (ITS) on Pillar 3 disclosure it was repealing the: Guidelines on disclosure requirements under Part Eight of the Capital Requirements Regulation (CRR) (EBA/GL/2016/11). Guidelines on liquidity coverage ratio disclosure to complement the … Continue Reading
On 11 October 2022, the European Commission published a Commission Delegated Regulation (EU) laying down regulatory technical standards (RTS) amending Delegated Regulation (EU) No 241/2014 as regards the prior permission to reduce own funds and the requirements related to eligible instruments. Commission Delegated Regulation (EU) No 241/2014 supplements the Capital Requirements Regulation (CRR) with regard … Continue Reading
On 11 October 2022, the European Securities and Markets Authority (ESMA) CCP Supervisory Committee (CCP SC) published strategic objectives, in line with ESMA’s overall strategy for the period 2023-2028 which was launched on 10 October 2022. The CCP strategic objectives build on ESMA’s achievements following the establishment of the CCP SC and outline the most … Continue Reading
On 7 October 2022, the FCA updated its webpage on UK SFTR news. The FCA has updated the webpage by adding a section regarding reporting legal entity identifiers (LEIs) of third country issuers under UK Securities Financing Transactions Regulation (UK SFTR). In this new section the FCA reminds readers that in March it extended a … Continue Reading
On 7 October 2022, the European Banking Authority (EBA) has issued its latest monitoring report regarding total loss-absorbing capacity and minimum requirement for own funds and eligible liabilities (TLAC/MREL). The report provides policy views based on TLAC/MREL instruments assessed up to February 2022 with a view to continue strengthening the quality of the instruments and … Continue Reading
On 5 October 2022, the European Commission published a draft Delegated Regulation supplementing the Capital Requirements Regulation with regard to regulatory technical standards (RTS) specifying the types of factors to be considered for the assessment of the appropriateness of risk weights for exposures secured by immovable property and the conditions to be taken into account … Continue Reading
On 29 September 2022, the European Banking Authority (EBA) published its response to the European Commission’s earlier letter asking the European Supervisory Authority for its views on the current level of margins and of excessive volatility in energy derivatives markets. In summary the EBA states that: Banks are already providing significant levels of support to … Continue Reading
On 29 September 2022, the European Banking Authority (EBA) disclosed the data items used to identify global systemically important institutions within the EU. The EBA has published 13 indicators and updated underlying data for the 30 largest institutions in the EU whose leverage ratio exposure measure exceeds EUR 200bn. Acting as a central data hub … Continue Reading
On 29 September 2022, the Basel Committee on Banking Supervision (Basel Committee) published a report concerning a review of margining practices. Background In non-centrally cleared markets, the Basel Committee and the International Organisation of Securities Commissions (IOSCO) developed a framework that established minimum standards for margin requirements for non-centrally cleared derivatives (although not non-centrally cleared … Continue Reading
On 27 September 2022, there was published in the Official Journal of the European Union (OJ), Commission Implementing Regulation (EU) 2022/1650 amending the implementing technical standards (ITS) laid down in Implementing Regulation (EU) 2016/1646 as regards the main indices and recognised exchanges in accordance with the Capital Requirements Regulation. The Implement Regulation amends the ITS … Continue Reading
On 26 September 2022, the PRA published Policy Statement 8/22 ‘Definition of capital: Updates to PRA rules and supervisory expectations’ (PS8/22). In PS8/22 the PRA provides feedback and final policy following Consultation Paper 2/22 ‘Definition of capital: updates to PRA Rules and supervisory expectations’ (CP2/22). In CP2/22 the PRA set out its proposed approach to … Continue Reading
On 23 September 2022, the International Capital Market Association (ICMA) published an updated version of its detailed recommendations for reporting under SFTR. The updated guidance includes six new questions and numerous further updates, reflecting new insights as well as additional guidance from the European Securities and Markets Authority (ESMA), e.g. regarding the reporting of central … Continue Reading
On 22 September 2022, the Single Resolution Board (SRB) announced that they welcomed the adoption of the review of the Capital Requirements Regulation (CRR), known as ‘CRR quick-fix’. The CRR quick-fix clarifies the treatment of total loss-absorbing capacity (TLAC) surpluses located in third countries for banks with a multiple entry point of entry (MPE) resolution … Continue Reading
