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Topic: Banking

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SRB approach to prior permissions regime: update

On 16 September 2021, the Single Resolution Board (SRB) published an update to information on its approach to prior permissions for eligible liabilities. Prior to calling, redeeming, repaying or repurchasing eligible liabilities instruments before their contractual maturity, institutions are required to obtain the authorisation of the resolution authority in accordance with Article 77(2) of the … Continue Reading

EBA publishes revised guidelines on the stress tests of deposit guarantee schemes

On 15 September 2021, the European Banking Authority (EBA) published revised guidelines on the stress tests conducted by Member State deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD). The revised guidelines strengthen the current DGS stress-testing framework by requiring the DGSs to stress test their ability to perform all of the interventions they … Continue Reading

Commission Delegated Regulation with regard to RTS for the contractual recognition of write down and conversion powers

On 8 September 2021, the European Commission published a webpage containing a Commission Delegated Regulation of 31 May 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) for the contractual recognition of write down and conversion powers. The provisions of the Delegated Regulation specify: The conditions under which … Continue Reading

ECB decisions relating to delegation and internal tasks

On 6 September 2021, the following European Central Bank decisions were published in the Official Journal of the EU: Decision (EU) 2021/1437 of the European Central Bank of 3 August 2021 amending Decision (EU) 2017/934 on the delegation of decisions on the significance of supervised entities (ECB/2021/33). Decision (EU) 2021/1438 of the European Central Bank … Continue Reading

EBA observes that the number of high earners in EU banks remained overall stable in 2019

On 18 August 2021, the European Banking Authority (EBA) published a report on high earners for 2019. The report has been developed in accordance with Article 75(3) of the Capital Requirements Directive IV, which mandates the EBA to collect information on the number of individuals per institution that are remunerated EUR one million or more … Continue Reading

EBA report on resolution colleges

On 17 August 2021, the European Banking Authority (EBA) published its Annual Report on resolution colleges for 2020. The Annual Report sets out the EBA’s observations on the functioning of colleges during the year and the progress achieved in key areas of resolution planning. For the 2021 cycle of resolution college meetings, the EBA intends … Continue Reading

Published in OJ – Commission delegated act determining the content of the contractual terms on recognition of resolution stay powers

On 16 August 2021, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation 2021/1340 of 22 April 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) determining the content of the contractual terms on recognition of resolution stay powers. The RTS are based … Continue Reading

EBA publishes amended technical standards on resolution planning reporting

On 3 August 2021, the European Banking Authority (EBA) issued a report containing draft implementing technical standards (ITS) that amend the current ITS on the provision of information for the purpose of resolution plans (Implementing Regulation (EU) 2018/1624). The EBA states that the proposed amendments are minimal and are designed to re-align the standards with … Continue Reading

Proportionality in bank regulation and supervision – a joint global survey

On 30 July 2021, the Basel Committee on Banking Supervision (Basel Committee) and the World Bank (WB) published a report on an earlier joint global survey that focussed on proportionality in bank regulation and supervision. The survey involved 90 authorities, with a broad distribution across geographical regions and income groups. The concept of proportionality is … Continue Reading

EBA consults on technical standards to identify shadow banking entities

On 26 July 2021, the European Banking Authority (EBA) issued a public consultation on draft regulatory technical standards (RTS) setting out criteria for the identification of shadow banking entities for the purposes of reporting large exposures. The legislative basis for the draft RTS is Article 394(4) of the Capital Requirements Regulation, as amended by Regulation … Continue Reading

Published in OJ – Commission Delegated Regulation supplementing BRRD with RTS on estimating Pillar 2 and combined buffer requirements for setting MREL

On 8 July 2021, there was published in the Official Journal of the EU Commission Delegated Regulation (EU) 2021/118 of 26 March 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) specifying the methodology to be used by resolution authorities to estimate the requirement referred to in Article … Continue Reading

EBA consults on technical standards on risk retention requirements under the Securitisation Regulation

On 30 June 2021, the European Banking Authority (EBA) issued a consultation paper on draft regulatory technical standards (RTS) specifying the requirements for originators, sponsors, original lenders and servicers related to risk retention, in line with the Securitisation Regulation. The draft RTS have been developed in accordance with Article 6(7) of the Securitisation Regulation, as … Continue Reading

Commission Implementing Regulation amending ITS as regards the disclosure of indicators of global systemic importance

On 24 June 2021, there was published in the Official Journal of the EU Commission Implementing Regulation (EU) 2021/1018 of 22 June 2021 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/7637 as regards the disclosure of indicators of global systemic importance, and repealing Implementing Regulation (EU) No 1030/2014. Article 131 of … Continue Reading

EBA proposes to further harmonise EU law applicable to branches of third country credit institutions

On 23 June 2021, the European Banking Authority (EBA) issued a report on the treatment of incoming third country branches (TCB) under the national law of Member States. The report is based on Article 21b(10) of the Capital Requirements Directive IV which mandates the EBA to submit a report to the European Parliament, the Council … Continue Reading

SRB approach for notifying impracticability to include bail-in recognition clauses in contracts

On 21 June 2021, the Single Resolution Board (SRB) published its policy on how banks can notify resolution authorities when bail-in recognition clauses cannot be added to contracts under third country law. In accordance with Article 55(2) of the Bank Recovery and Resolution Directive (BRRD), banks may determine that it is legally or otherwise impracticable … Continue Reading

Commission consults on improving transparency and efficiency in secondary markets for non-performing loans

On 16 June 2021, the European Commission issued a targeted consultation designed to gather evidence on improving transparency and efficiency in secondary markets for non-performing loans (NPLs). The Commission notes that one of the key actions in fostering secondary markets for NPLs is to improve the quantity, quality and comparability of NPL data. Secondary markets … Continue Reading

EBA updates list of risk indicators and analysis tools

On 7 June 2021, the European Banking Authority (EBA) issued an updated list of indicators for risk assessment and risk analysis tools, together with the accompanying methodological guide. This guidance, which describes how risk indicators are computed in EBA publications, allows Member State competent authorities and users of EBA data to interpret key bank figures … Continue Reading

Non-performing loans: deal struck on EU rules for selling NPLs to third parties

On 7 June 2021, the European Parliament (EP) issued a press release stating that EP negotiators and the Council of the EU have agreed on the proposed Directive on credit servicers, credit purchasers and the recovery of collateral. The Directive dates back to 2018, and is intended to help lenders free their balance sheets from … Continue Reading

Basel Committee discusses effects of Covid-19 on banks, assesses post-crisis reforms and agrees public consultation on cryptoassets

On 7 June 2021, the Basel Committee on Banking Supervision (Basel Committee) issued a press release following its meeting on 4 June 2021. During this meeting the Basel Committee took stock of COVID-19 risks to the banking system and discussed policy and supervisory initiatives. In terms of crypto-assets the press release notes that the Basel … Continue Reading

EBA makes recommendations for reducing supervisory reporting costs

On 7 June 2021, the European Banking Authority (EBA) published a report that analyses EEA credit institutions’ experience with the EBA’s supervisory reporting requirements and processes. The EBA is mandated by Article 430(8) of the Capital Requirements Regulation to measure the costs institutions incur when complying with the reporting requirements set out in the EBA’s … Continue Reading

ECB opinion on draft Regulation on digital operational resilience for the financial sector

On 4 June 2021, the European Central Bank issued an opinion on the proposed Regulation on operational resilience for the financial sector. In its opinion the ECB provides both general and specific observations on the proposed Regulation. In its general observations the ECB welcomes the proposed Regulation which aims to enhance cyber security and operational … Continue Reading

ESMA consults on draft technical standards on the content and format of the STS notification for on-balance sheet securitisations under the amended Securitisation Regulation

On 27 May 2021, the European Securities and Markets Authority (ESMA) issued a consultation paper setting out draft regulatory technical standards (RTS) and implementing technical standards (ITS) specifying the content and the format of the standardised templates for simple, transparent and standardised (STS) notification of on-balance sheet (synthetic) securitisations. The draft RTS and ITS build on … Continue Reading

EBA issues report on the application of the BRRD early intervention framework

On 27 May 2021, the European Banking Authority (EBA) published a report on the application of early intervention measures (EIMs) under the Bank Recovery and Resolution Directive (BRRD). The report presents the results of a survey on the application of EIMs that the EBA conducted among Member State competent authorities in 2019. The report also … Continue Reading
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