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Topic: Banking

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Commissioner Margrethe Vestager: A level playing field for banks in the Union

On 10 October 2019, the European Commission (Commission) published a speech given by Margrethe Vestager (Competition Commissioner) at the SRB Conference 2019. The speech was entitled A level playing field for banks in the Union. In her speech Competition Commissioner Vestager discusses the Commission’s response to the financial crisis of 2008, competition control in the … Continue Reading

ECB final results of sensitivity analysis of liquidity risk stress test

On 7 October 2019, the European Central Bank (ECB) published the final results from its Sensitivity Analysis of Liquidity Risk – Stress Test 2019. The shocks simulated in the exercises were calibrated on the basis of experience gained in recent crisis episodes. For further information on the details of the stress test, see our previous … Continue Reading

ECB 2020 supervisory priorities for SSM

On 7 October 2019, the European Central Bank (ECB) published its supervisory priorities setting out its focus areas for the single supervisory mechanism (SSM) for 2020. The key drivers of banking sector risk have been identified in a related risk assessment for 2020. These risks centre around economic, political and debt sustainability challenges in the … Continue Reading

BCBS Basel III monitoring report

On 2 October 2019, the Basel Committee on Banking Supervision (BCBS) published a report presenting the results of its latest Basel III monitoring exercise, based on data as of 31 December 2018. The report sets out the impact of the Basel III framework that was initially agreed in 2010 as well as the effects of … Continue Reading

EBA work programme for 2020

On 30 September 2019, the European Banking Authority (EBA) published its work programme for 2020. The programme is defined under six strategic areas: supporting the deployment of the risk reduction package and the implementation of the global standards in the EU; providing efficient methodologies and tools for supervisory convergence and stress testing; moving towards an integrated EU … Continue Reading

ESG: German regulator launches consultation regarding guidance notice on sustainability

On 24 September 2019, the German Federal Financial Supervisory Authority (BaFin) published a draft guidance notice on dealing with sustainability risks for consultation (link; only available in German). BaFin expects supervised entities to also take into account environmental risks, social risks and risks arising from corporate governance (commonly referred to as environmental, social and governance – … Continue Reading

EBA consults on STS framework for synthetic securitisations

On 25 September 2019, the European Banking Authority (EBA) announced that it had published a discussion paper on its proposals for a simple, transparent and standardised (STS) framework for synthetic securitisation. The discussion paper has been developed in response to a mandate assigned to the EBA as per Article 45 of the Securitisation Regulation, which … Continue Reading

EBA launches its 2019 EU-wide transparency exercise

On 23 September 2019, the European Banking Authority (EBA) announced that it was launching its latest EU wide transparency exercise. In November, the EBA will release data points on about 130 EU banks. The data will cover capital positions, financial assets, risk exposure amounts, sovereign exposures and asset quality. As with previous transparency exercises, this … Continue Reading

China banking: New measures for opening up

In recent years China has accelerated its opening up to foreign investment. In June, China rolled out revised Negative Lists for foreign investment market access, allowing foreign investors to run majority-share-controlling or wholly-owned businesses in various sectors. We have published a China Foreign Investment Expert Q&A series, to keep clients and contacts apprised of developments … Continue Reading

Amendment to the maximum amount per SCT Inst transaction to 100,000 euros

On 10 September 2019, the European Payments Council (EPC) decided to amend the maximum amount per Single Euro Payments Area (SEPA)  Instant Credit Transfer (SCT Inst) transaction to 100,000 euros, effective as of 1 July 2020. For the time being, the maximum amount an originator can transfer via a single SCT Inst transaction is set … Continue Reading

PSD2: German regulator postpones strong costumer authentication requirements for online credit card payments

The German Federal Financial Supervisory Authority (BaFin) will allow payment service providers domiciled in Germany to execute credit card payments online without strong customer authentication (SCA) as a temporary measure after 14 September 2019. Pursuant to a press release published on 21 August 2019, BaFin will not object to such transactions for the time being in order … Continue Reading

ECB Chair introductory statement to European Parliament’s Economic and Monetary Affairs Committee

On 4 September 2019, the European Central Bank (ECB) published the introductory statement given by its chair, Andrea Enria, at the first ordinary hearing in 2019 at the European Parliament’s Economic and Monetary Affairs Committee. Among other things, the statement lists the ECB’s work and priorities for the near future. In particular, the ECB will: … Continue Reading

EBA adds Securitisation Regulation to its online Interactive Single Rulebook and Q&A tools

On 2 September 2019, the European Banking Authority (EBA) updated its Interactive Single Rulebook and Q&A tool on the “simple, transparent and standardised” (STS) Securitisation Regulation. The update allows users to review all the EBA’s final technical standards and guidelines associated with the Securitisation Regulation by navigating through the legislation on an article by article … Continue Reading

ECB decisions on adopting decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions

On 28 August 2019, there was published in the Official Journal of the EU, the following decisions relating to the Regulation on the Single Supervisory Mechanism (SSM): Decision (EU) 2019/1376 of the European Central Bank (ECB) on delegation of the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of … Continue Reading

EBA reports on funding plans and asset encumbrance

On 28 August 2019, the European Banking Authority (EBA) published the following: a report on funding plans. The purpose of the report is to assess the feasibility of EU banks’ funding plans submitted for the banking system in the EU. The EBA’s findings include, among other things, that the total assets of banks increased in … Continue Reading

ECB decision on oversight of systemically important payment systems

On 16 August 2019, there was published in the Official Journal of the EU (OJ), the European Central Bank (ECB) decision of 26 July 2019 on the procedure and conditions for exercise by a Member State competent authority of certain powers in relation to the oversight of systemically important payment systems (SIPs). In April 2012, … Continue Reading

European Commission agrees MOU with SRB

On 13 August 2019, the Single Resolution Board (SRB) published a memorandum of understanding (MOU) between itself and the European Commission in respect of co-operation and information exchange pursuant to the Single Resolution Mechanism Regulation (SRMR). The MOU aims to codify best practices and ensure that effective working arrangements are in place between the Commission … Continue Reading

EBA opinion on deposit guarantee schemes

Article 19(6) of the Deposit Guarantee Schemes Directive (DGSD) requires the European Commission to submit to the European Parliament and to the Council a report on the progress towards the implementation of the DGSD. To support the Commission in meeting this obligation, the European Banking Authority (EBA) committed to drafting three opinions on the DGSD. … Continue Reading

EBA publishes its roadmap on IFRS 9 deliverables and launches IFRS 9 benchmarking exercise

On 23 July 2019, the European Banking Authority (EBA) published its International Financial Reporting Standard (IFRS) 9 roadmap providing a comprehensive overview of planned monitoring activities on IFRS 9 implementation. The EBA has also launched an IFRS 9 benchmarking exercise on a sample of institutions aimed at analysing the different modelling practices followed by institutions … Continue Reading

EBA report on final draft ITS on supervisory reporting in regard to FINREP

On 16 July 2019, the European Banking Authority (EBA) published a report setting out its final draft implementing technical standards (ITS) amending Commission Implementing Regulation (EU) 680/2014 on supervisory reporting of institutions with regard to financial reporting (FINREP). The amendments in the draft ITS address the risks of high non-performing exposures (NPE) and forborne exposures … Continue Reading

SRB publishes paper on public interest assessment

On 3 July 2019, the Single Resolution Board (SRB) published a paper outlining its approach to public interest assessment. The identification of public interest is a necessary pre-condition for taking resolution action in respect of a failing bank. Whenever the SRB concludes that there is public interest in resolving a bank and adopts a resolution … Continue Reading

EBA publishes its roadmap for the new market and counterparty credit risk approaches

On 27 June 2019, the European Banking Authority (EBA) published its roadmap on the new market and counterparty credit risk approaches and launched a consultation on eleven draft Regulatory Technical Standards (RTS) on the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB) standards along with a data collection exercise … Continue Reading

EBA publishes an opinion on the elements of strong customer authentication under PSD2

On 21 June 2019, the European Banking Authority (EBA) published an opinion on the elements of strong customer authentication (SCA) under the revised Payment Services Directive (PSD2). The opinion provides a non-exhaustive list of the authentication approaches currently observed in the market and states whether or not they are considered to be SCA compliant. The … Continue Reading

Open Banking around the world | A global comparative guide

The UK continues to be the global pioneer in open banking through the implementation of the EU PSD2 and the CMA open banking initiative. However, through regulatory reforms and/or market-led initiatives, many jurisdictions are now catching up. Working with our colleagues across the globe, we have produced a comparative guide to open banking as part … Continue Reading
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