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Topic: Banking

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Commission Delegated Regulation supplementing the CRD IV with regard to RTS specifying the information to be provided in the application for the authorisation as a credit institution

On 17 June 2022, the European Commission published a Delegated Regulation supplementing the Capital Requirements Directive IV (CRD IV) with regard to regulatory technical standards (RTS) specifying the information to be provided in the application for authorisation as a credit institution, and specifying the obstacles which may prevent the effective exercise of supervisory functions of … Continue Reading

Eurogroup statement on the future of the Banking Union

On 16 June 2022, the Eurogroup issued a statement on the future of the Banking Union. In the statement the Eurogroup states that, as an immediate step, work on the Banking Union should focus on strengthening the common framework for bank crisis management and national deposit guarantee schemes (CMDI framework). The broad elements to underpin … Continue Reading

Updated SRB guidance documents for bail-in operationalisation

On 15 June 2022, the Single Resolution Board (SRB) updated its operational guidance to banks on the implementation of the bail-in tool. Specifically, the SRB has updated its guidance on bail-in playbooks, bail-in data set instructions and an explanatory note on the latter. Compared to previous documents the SRB has added more detail to the … Continue Reading

SRB updates 2022 MREL policy

On 8 June 2022, the Single Resolution Board (SRB) published an updated 2022 MREL policy. The policy sets out a minimum requirement for own funds and eligible liabilities (MREL). The policy has been revised based on experience gained and stakeholder feedback and applies to the 2022 resolution planning cycle. Key points include that the updated … Continue Reading

EBA consults on guidelines to resolution authorities on the publication of the write down and conversion and bail-in exchange mechanic

 On 7 June 2022, the European Banking Authority (EBA) launched a public consultation on its draft guidelines, addressed to Member State resolution authorities for the publication of their approach to implementing the bail-in tool. The draft guidelines aim to ensure that a minimum level of harmonised information is made public with regard to the mechanics … Continue Reading

SRB Addendum to the Public Interest Assessment – Deposit Guarantee Schemes Considerations

On 20 May 2022, the Single Resolution Board (SRB) announced an enhancement to its approach to the Public Interest Assessment (PIA) policy in resolution planning. The PIA is one of the key policies underpinning the work of the SRB. It examines whether the resolution of a particular EU bank that is failing, or likely to … Continue Reading

The desks mapping review – integrating Brexit banks into European banking supervision

On 19 May 2022, the European Central Bank (ECB) updated its supervision blog by posting an update by its chair, Andrea Enria. The posting concerns Brexit and the relocation of business by international banks from London to subsidiaries in the euro area. The blog posting refers to the ECB’s supervisory work in the form of … Continue Reading

EBA adopts decision on supervisory reporting for intermediate EU parent undertaking threshold monitoring

On 13 May 2022, the European Banking Authority (EBA) adopted a decision on supervisory reporting for intermediate parent undertaking (IPU) threshold monitoring for those entities belonging to third country groups (TCGs), including third country branches (TCBs). Article 21b of the Capital Requirements Directive IV (CRD IV) requires institutions belonging to TCGs to have an IPU … Continue Reading

EBA provides its advice to the EU Commission on non-bank lending

On 4 May 2022, the European Banking Authority (EBA) issued a report on non-bank lending. The report is in response to the European Commission’s February 2021 Call for Advice on this topic. The report is based on a survey that the EBA launched among Member State competent authorities to gather information about entities carrying out … Continue Reading

EBA amended final draft technical standards on the mapping of ECAIs for securitisation positions

On 3 May 2022, the European Banking Authority (EBA) issued final draft implementing technical standards (ITS) to amend the Implementing Regulation on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for securitisation positions. The changes reflect the relevant amendments introduced by the new Securitisation Framework, as well as the mappings for three … Continue Reading

ECB Guideline ECB/2022/8 on a new generation Trans-European Automated Real-time Gross Express Transfer system

On 19 April 2022, the European Central Bank published: Guideline ECB/2022/8 on a new generation Trans-European Automated Real-time Gross Express Transfer system. Decision ECB/2022/22 on the terms and conditions of TARGET-ECB. The Eurosystem central banks shall comply with the Guideline from 21 November 2022.  … Continue Reading

EBA final draft RTS on the risk retention requirements for securitisations

On 12 April 2022, the European Banking Authority (EBA) published final draft regulatory technical standards (RTS) on the risk retention requirements for securitisations. The draft RTS have been developed in accordance with Article 6(7) of the Securitisation Regulation (as amended), which mandates the development of RTS further specifying risk retention requirements. A substantial part of … Continue Reading

Latest ECB publications including 2021 Annual Report

On 31 March 2022, the European Central Bank (ECB) published its 2021 Annual Report. In her foreword to the Annual Report Christine Lagarde, President of the ECB, mentions that the COVID-19 pandemic has led to more fundamental changes in the landscape in which banks operate. She states that digitisation has accelerated and the urgency to … Continue Reading

ECB Dear CEO letter on leveraged transactions

On 28 March 2022, the European Central Bank (ECB) published a letter that it had sent to CEOs of significant institutions that specifies its expectations regarding leveraged transactions. The letter includes an annex setting out the ECB’s observations on the overall leveraged transaction risk appetite framework design and functioning. Key points in the letter include: … Continue Reading

SRB Annual Press Breakfast

On 30 March 2022, Elke König, chair of the Single Resolution Board (SRB), delivered a speech at the SRB Annual Press Breakfast which focuses on resolution and financial stability in Europe. Among other things during the speech the SRB’s priorities for resolution planning are mentioned: The continued built up of adequate minimum requirement for own … Continue Reading

Regulation (EU) on the exercise of options and discretions available in Union law

On 30 March 2022, there was published in the Official Journal of the European Union (OJ), Regulation (EU) 2022/504 of the European Central Bank of 25 March 2022 amending Regulation (EU) 2016/445 on the exercise of options and discretions available in Union law. The Regulation enters into force on the fifth day following its publication … Continue Reading

On 28 March 2022, the European Central Bank (ECB) published a number of instruments which relate to how it will apply options and discretions foreseen in EU banking rules. This follows on from the public consultation which ended in August 2021. The ECB has set out a number of documents regarding supervisory options and discretions … Continue Reading

ECB speech ‘Building a robust and diversified clearing ecosystem’

On 22 March 2022, the European Central Bank (ECB) published a speech by Fabio Panetta (Executive Board member, ECB) entitled ‘Building a robust and diversified clearing ecosystem’. Key points in the speech include: When assessing the resilience of the clearing ecosystem, regulators should not focus exclusively on central counterparties (CCPs). Clearing members also need to … Continue Reading

ECB guide on the notification of securitisation transactions

On 18 March 2022, the European Central Bank (ECB) published a non-binding guide on the notifications of securitisation transactions. The guide sets out the notification practices that significant institutions acting as originators or sponsors of a securitisation transaction are advised to follow in order to provide the ECB with information needed for the supervision of … Continue Reading

SRB operational guidance on the identification and mobilisation of collateral in resolution

On 17 March 2022, the Single Resolution Board (SRB) published its operational guidance on the identification and mobilisation of collateral in resolution. The operational guidance complements the SRB’s Expectations for Banks document that sets out the capabilities the SRB expects Eurozone banks to demonstrate to show that they are resolvable, in providing such banks with … Continue Reading

Commission Implementing Regulation (EU) 2022/365 of 3 March 2022 amending Implementing Regulation (EU) 2018/1624

On 4 March 2022, there was published in the Official Journal of the EU Commission Implementing Regulation (EU) 2022/365 of 3 March 2022 amending Implementing Regulation (EU) 2018/1624 laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit … Continue Reading

ECB Decision amending Decision 2015/2218 on the procedure to exclude staff members from the presumption of having a material impact on a supervised credit institution’s risk profile

On 4 March 2022, Decision (EU) 2022/368 of the European Central Bank of 18 February 2022 amending Decision (EU) 2015/2218 on the procedure to exclude staff members from the presumption of having a material impact on a supervised credit institution’s risk profile (ECB/2022/6) was published in the Official Journal of the European Union. This latest … Continue Reading

Commission adopts ITS amending the current ITS on the provision of information for the purpose of resolution plans

On 3 March 2022, the European Commission adopted an Implementing Regulation together with annex 1 and annex 2 which amend Implementing Regulation 2018/1624 laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms pursuant … Continue Reading

European System of Central Banks renews Statements of Commitment to FX Global Code

On 15 February 2022, the European Central Bank (ECB) issued a statement in which it welcomed the July 2021 update of the FX Global Code and the publication of related guidance material. The ECB also states that all members of the European System of Central Banks (including the ECB) had simultaneously issued renewed Statements of … Continue Reading
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