On 29 March 2023, the European Banking Authority published a speech by its chair, José Manuel Campa, entitled Our path to the future of EU-wide stress testing. In his speech Mr Campa explains where the EBA is on the 2023 EU-wide stress test which is currently on-going. This includes some of the main changes that … Continue Reading
On 22 March 2023, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2023/662 of 20 January 2023 amending Delegated Regulation (EU) 2015/63 as regards the methodology for the calculation of liabilities arising from derivatives. Regulation (EU) 2019/876 included an amendment to the Capital Requirements Regulation (CRR) which … Continue Reading
On 16 March 2023, the European Banking Authority (EBA) published a Handbook on data submissions for supervisory benchmarking of internal models. The Handbook is an online tool that provides guidance and links to relevant documents and information for the supervisory benchmarking to facilitate their accessibility. In particular, the Handbook includes overviews for all applicable Q&As … Continue Reading
On 27 February 2023, the European Banking Authority (EBA) issued a no-action letter stating that Member State competent authorities should not prioritise any supervisory or enforcement action in relation to the new banking book – trading book boundary provisions.… Continue Reading
On 20 February 2023, the European Commission (Commission) published a letter from John Berrigan, regarding the Call for Advice it had issued to the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) for the purposes of the reports on the prudential requirements applicable to investment firms. The letter notes that in … Continue Reading
On 1 February 2023, there was published in the Official Journal of the European Union (OJ) a Commission Delegated Regulation supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) specifying the types of factors to be considered for the assessment of the appropriateness of risk weights for exposures secured by immovable … Continue Reading
On 31 January 2023, the European Banking Authority (EBA) issued a consultation on draft implementing technical standards (ITS) on supervisory reporting with respect to the IRRBB. The draft ITS have been developed in accordance with Article 430(7) of the Capital Requirements Regulation, which mandates the EBA to develop uniform formats, definitions, frequencies and reference and … Continue Reading
On 30 January 2023 the Council of the EU published a Corrigendum to Commission Delegated Regulation of 5 October 2022 supplementing the Capital Requirements Regulation with regard to regulatory technical standards specifying the types of factors to be considered for the assessment of the appropriateness of risk weights for exposures secured by immovable property and … Continue Reading
On 14 December 2022, the Financial Stability Board (FSB) published its assessment of the effectiveness of the FSB’s 2017 recommendations on liquidity mismatch in open-ended funds (OEFs). The assessment, which forms part of the FSB’s work programme to enhance the resilience of non-bank financial intermediation (NBFI), includes proposals for further policy work in this area. … Continue Reading
On 28 November 2022, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2022/2311 of 21 October 2022, amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards temporary emergency measures on collateral requirements. Article 1 modifies Articles 39 and 62 of Commission … Continue Reading
On 24 November 2022, the European Commission published a Commission Delegated Regulation supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards (RTS) of the calculation of risk-weighted exposure amounts of collective investment undertakings (CIUs) under the mandate-based approach. The provisions in the Commission Delegated Regulation specify how institutions are to calculate the … Continue Reading
On 18 November 2022, there was published in the Official Journal of the European Union (OJ), Commission Delegated Regulation (EU) 2022/2257 of 11 August 2022, supplementing the Capital Requirements Regulation (CRR) with regard to regulatory technical standards specifying the calculation methods of gross jump-to-default amounts for exposures to debt and equity instruments and for exposures … Continue Reading
On 8 November 2022, the Council of the EU adopted its general approach on the European Commission’s (Commission) legislative package on the implementation of the final Basel III standards. The Basel III legislative package comprises of a: Commission proposal for a Regulation amending the Capital Requirements Regulation (CRR) as regards requirements for credit risk, credit valuation … Continue Reading
On 4 November 2022, the European Banking Authority (EBA) published the final methodology, draft templates and template guidance for the 2023 EU-wide stress test along with the milestone dates for the exercise. The objectives of the EU-wide stress test is to provide EU supervisors, banks and other market participants with a common analytical framework to … Continue Reading
On 20 October 2022, there was published in the Official Journal of the European Union Corrigendum to Commission Implementing Regulation (EU) 2022/389 of 8 March 2022 laying down Implementing Technical standards for the application of the Investment Firms Directive with regard to the structure, content lists and annual publication date of the information to be … Continue Reading
On 20 October 2022, the European Banking Authority (EBA) published a new set of guidelines and two final draft Regulatory Technical Standards (RTS) specifying technical aspects of the revised framework capturing interest rate risks for banking book (IRRBB) positions. The new guidelines and draft RTS complete the onboarding into EU law of the Basel standards … Continue Reading
On 18 October 2022, the European Commission published a Commission Delegated Regulation amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards temporary emergency measures on collateral requirements. The delegated act introduces a modification to Commission Delegated Regulation (EU) No 153/2013. Article 1 modifies Articles 39 and 62 of Commission … Continue Reading
On 17 October 2022, the European Banking Authority (EBA) published a report setting out its findings following a peer review on information and communication technology (ICT) risk assessment under the supervisory review and evaluation process (SREP). Key findings from the peer review include: EU competent authorities have largely implemented the EBA’s guidelines on ICT risk … Continue Reading
On 14 October 2022, the European Securities and Markets Authority (ESMA) published a final report on emergency measures on collateral requirements. Previously, the European Commission asked ESMA to consider whether the applicable Level 2 provisions, in particular Commission Delegated Regulation (EU) 153/2013, supplementing the European Market Infrastructure Regulation (EMIR) with regards to requirements for central … Continue Reading
On 12 October 2022, the Single Resolution Board (SRB) and the European Central Bank (ECB) reached an ‘in principle’ agreement on the margin for redeeming eligible liabilities under Article 78a(1)(b) of the Capital Requirements Regulation. The new ‘In principle’ agreement is applicable to authorisations granted as of 1 January 2023, including General Prior Permission (GPP) … Continue Reading
On 12 October 2022, the European Banking Authority (EBA) issued a press release stating that given the overlap with the Implementing Technical Standards (ITS) on Pillar 3 disclosure it was repealing the: Guidelines on disclosure requirements under Part Eight of the Capital Requirements Regulation (CRR) (EBA/GL/2016/11). Guidelines on liquidity coverage ratio disclosure to complement the … Continue Reading
On 11 October 2022, the European Commission published a Commission Delegated Regulation (EU) laying down regulatory technical standards (RTS) amending Delegated Regulation (EU) No 241/2014 as regards the prior permission to reduce own funds and the requirements related to eligible instruments. Commission Delegated Regulation (EU) No 241/2014 supplements the Capital Requirements Regulation (CRR) with regard … Continue Reading
