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Topic: Banking

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Published in OJ – Delegated Regulation on the homogeneity of the underlying exposures in STS securitisation

On 15 February 2024, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2024/584 of 7 November 2023 amending the regulatory technical standards laid down in Delegated Regulation (EU) 2019/1851 as regards the homogeneity of the underlying exposures in simple, transparent and standardised securitisations. The European Banking Authority published … Continue Reading

SRB launches its “SRM Vision 2028” Strategy

On 13 February 2024, the Single Resolution Board (SRB) announced the Single Resolution Mechanism’s (SRM) new strategic vision up until 2028.   The SRB’s early work was heavily focused on policy development and the main attributes for resolution mandated by the SRM Regulation. By the end of 2023, the SRB reached various key milestones. These … Continue Reading

MEPs adopt new rules to ensure Euro money transfers arrive within ten seconds

On 7 February 2024, the European Parliament issued a press release stating that MEPs had adopted the draft Regulation amending the Single Euro Payments Area Regulation and the Cross-Border Payments Regulation as regards instant credit transfers in euro. The press release goes on to state that MEPs have adopted the new rules to ensure transferred … Continue Reading

ECB guide on financial conglomerate reporting of significant risk concentrations and intragroup transactions

On 10 January 2024, the European Central Bank (ECB) published a guide on financial conglomerate reporting of significant risk concentrations and intragroup transactions. The guide is relevant for financial conglomerates that are headed by a credit institution which the ECB has classified as a significant institution. The guide is intended to provide transparency regarding the approach … Continue Reading

EBA updates technical standards on supervisory colleges

On 9 January 2024, the European Banking Authority published final draft regulatory technical standards (RTS) and final draft implementing technical standards (ITS) on the functioning of supervisory colleges under the Capital Requirements Directive (CRD) IV. Commission Delegated Regulation (EU) 2016/98 and Commission Implementing Regulation (EU) 2016/99 specify the functioning of supervisory colleges. The final draft … Continue Reading

ECB Supervisory Manual

On 4 January 2024, the European Central Bank (ECB) published the latest version of its Supervisory Manual. The Supervisory Manual describes the organisational set-up of the Single Supervisory Mechanism (SSM) and defines the methodologies, processes and procedures for banking supervision in the euro area. It also covers how the SSM cooperates with other authorities in … Continue Reading

EBA updates guidelines on the specification and disclosure of systemic importance indicators

On 20 December 2023, the European Banking Authority (EBA) published a final report updating its existing guidelines on the specification and disclosure of systemic importance indicators. The guidelines define uniform requirements for disclosing the values used during the identification and scoring process of global systemically important institutions (G-SIIs), in line with internationally agreed standards developed … Continue Reading

ESMA consults on securitisation disclosure templates

On 21 December 2023, the European Securities and Markets Authority (ESMA) issued a consultation paper on the securitisation disclosure templates under Article 7 of the Securitisation Regulation. Article 7 of the Securitisation Regulation sets out the transparency requirements for all types of securitisations. These requirements include the disclosure of information related to the structure of … Continue Reading

ECB publishes results on SREP for 2023 and its supervisory priorities for 2024 – 2026

On 19 December 2023, the European Central Bank (ECB) published the results of its 2023 Supervisory Review and Evaluation Process (SREP) and its supervisory priorities for 2024 – 2026. The SREP is an annual exercise in which ECB supervisors examine EU banks’ risks and produce capital requirements and guidance for each individual bank (which is … Continue Reading

EBA report on the deposit coverage level and coverage of public authorities’ deposits

On 19 December 2023, the European Banking Authority (EBA) published a report on the deposit coverage level and coverage of public authorities’ deposits, in response to a call for advice by the European Commission. The report presents the EBA’s analysis of the data collected from 28 EEA countries covering the period between January 2022 and … Continue Reading

EBA guidance to assess the knowledge and experience of the management or administrative organ of a credit servicer

On 15 December 2023, the European Banking Authority published a final report containing guidelines on assessment knowledge and experience of the management or administrative organ of a credit servicer as a whole, under the Non-Performing Loans Directive (Directive (EU) 2021/2167). The guidelines specify common criteria, taking into account the principle of proportionality, to assess the … Continue Reading

SRB opens a public consultation on the future review of MREL

On 14 December 2023, the Single Resolution Board (SRB) issued a consultation on the future of the minimum requirements for own funds and eligible liabilities (MREL). The consultation is part of the SRB’s strategic review to ensure that it remains optimally equipped for the future, building on lessons learned from earlier bank failures and SRB … Continue Reading

Commission Delegated Regulation (EU) of 13.12.2023 supplementing the Securitisation Regulation with regard to RTS specifying the performance-related triggers and the criteria for the calibration of those triggers

On 13 December 2023, the European Commission published Commission Delegated Regulation (EU) of 13.12.2023 supplementing the Securitisation Regulation with regard to regulatory technical standards (RTS) specifying the performance-related triggers and the criteria for the calibration of those triggers. The RTS specify the two mandatory triggers under point (a) of Article 26c(5), third subparagraph of the … Continue Reading

Daisy Chains: Council and Parliament reach agreement

On 6 December 2023, the Council of the EU and the European Parliament reached a provisional political agreement on the so called Daisy Chains proposal which amends the Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation to include targeted proportionality requirements to the treatment of internal MREL in bank resolution groups. The … Continue Reading

Daisy Chains: Council and Parliament reach agreement

On 6 December 2023, the Council of the EU and the European Parliament reached a provisional political agreement on the so called Daisy Chains proposal which amends the Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation to include targeted proportionality requirements to the treatment of internal MREL in bank resolution groups. The … Continue Reading

SRB Annual Work Programme 2024

On 30 November 2023, the Single Resolution Board (SRB) published its Annual Work Programme for 2024. The Annual Work Programme 2024 will be completed early next year with a multi-annual work programme for the SRB, based on the 2023 strategic review of SRB and Single Resolution Mechanism (SRM) operations, which will be launched early next … Continue Reading

2023 list of global systemically important banks

On 27 November 2023, the Financial Stability Board (FSB) published the 2023 list of global systemically important banks (G-SIBs). FSB member authorities apply the following to G-SIBs: high capital buffer, total loss-absorbing capacity, group wide resolution planning and regular resolvability assessments and higher supervisory expectations including for risk management functions. The new list of G-SIBs … Continue Reading

Basel Committee publishes more details on global systemically important banks

On 27 November 2023, the Basel Committee on Banking Supervision published material related to the identification of the 2023 global systemically important banks (G-SIB), including updated denominators used to calculate banks’ scores, the thresholds used to allocate the banks to buckets and the values of the 13 high-level indicators of all banks in the main … Continue Reading

Basel Committee supervisory newsletter on the adoption of POR and PSMOR

On 27 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a supervisory newsletter on the adoption of the Principles for Operational Resilience (POR) and the revised Principles for the Sound Management of Operational Risk (PSMOR). The newsletter reports on the Basel Committee’s evaluation of the POR and the PSMOR in early 2023 … Continue Reading

Basel Committee newsletter on the implementation of the principles for the effective management and supervision of climate-related financial risks

On 22 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a newsletter on the implementation of the Principles for the effective management and supervision of climate-related financial risks (the Principles). The Basel Committee published the Principles, which seek to improve banks’ climate-related financial risk management and supervisors’ practices, as part of its … Continue Reading

Council agrees common position on Daisy Chains

On 17 November 2023, the Council of the EU issued a press release stating that it had adopted a mandate to start negotiations with the European Parliament on the so called Daisy Chains proposal. The Daisy Chains proposal is a targeted amendment of both the Bank Recovery and Resolution Directive and the Single Resolution Mechanism … Continue Reading

European Parliament report on the proposal for a directive as regards certain aspects of MREL

On 9 November 2023, the European Parliament published a report on the proposal for a directive of the European Parliament and of the Council amending the Bank Recovery and Resolution Directive (BRRD) and the Regulation establishing the Single Resolution Mechanism (SRM Regulation) as regards certain aspects of the minimum requirement for own funds and eligible … Continue Reading

MEPs agree on changes to so called ‘Daisy Chain’ proposal

On 7 November 2023, the European Parliament’s Economic and Monetary Affairs Committee (ECON) voted for targeted changes to the so-called ‘Daisy Chain’ proposal ensuring proportionality and a level playing field between banks. The ‘Daisy Chain’ proposal introduces targeted adjustments that will help improve the resolvability of bank institutions. It seeks to amend the EU bank … Continue Reading
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