On 16 July 2024, the European Banking Authority (EBA) published a report on the application of derogations under Articles 94(3) and 94(5) of the Capital Requirements Directive IV (CRD IV) regarding the pay out of remuneration to identified staff.
The report finds that:
On 11 July 2024, the European Central Bank (ECB) published a report that defines assessment criteria and sound practices for digitalisation. The report follows a survey on digitalisation involving all significant institutions under European banking supervision conducted in 2022 and a broad set of supervisory activities in 2023 including targeted reviews on the
On 9 July 2024, the Basel Committee on Banking Supervision published a consultative document on Principles for the sound management of third-party risk.
The Principles contained in the consultative document are intended to supersede those in the 2005 Joint Forum paper Outsourcing in financial services specifically for the banking sector. There are 12 high-level principles
On 9 July 2024, the Single Resolution Board (SRB) published its third assessment of banks’ resolvability across the Banking Union.
The headlines from the assessment include:
On 8 July 2024, the European Banking Authority (EBA) published a report on convergence of supervisory practices in 2023.
The report covers how the EBA pursued supervisory convergence in 2023 in the context of the Supervisory Review and Evaluation Process and ongoing supervision via various convergence tools at its disposal, and the EBA’s
On 26 June 2024, the Single Resolution Board (SRB) published a document that outlines elements of bail-in execution in the Banking Union that are of a general nature or fall under the responsibility of the SRB. The document should be read in conjunction with existing or future publications from Member State resolution authorities
On 20 June 2024, the Single Resolution Board (SRB) issued a press release stating that it will produce new expectations on valuation capabilities including:
The SRB will
On 19 June 2024, the Council of the EU (Council) issued a press release stating that it had agreed a negotiating mandate on the review of the crisis management and deposit insurance (CMDI) framework for banks. With this agreement, the Council is ready to engage in negotiations with the European Parliament
On 18 June 2024, the European Commission (Commission) published a speech by Mairead McGuinness (European Commissioner for Financial Services, Financial Stability and Capital Markets Union) in which she discusses the Capital Markets Union and Banking Union.
Among other things Commissioner McGuinness makes the following points:
On 18 June 2024, there was published in the Official Journal of the EU, Commission Delegated Regulation (EU) 2024/1700 of 5 March 2024 supplementing the Securitisation Regulation with regard to regulatory technical standards specifying, for simple, transparent and standardised non-ABCP traditional securitisation, and for simple, transparent and standardised on-balance-sheet securitisation, the content, methodologies and presentation