The Netherlands

Topic: Banking

Subscribe to Banking RSS feed

COVID-19: DNB measures for LSIs in reaction to coronavirus

On 20 March 2020, the Dutch Central Bank (De Nederlandsche Bank, DNB) issued a press release on its approach with respect to Less Significant Institutions (LSIs) in light of the coronavirus pandemic (COVID-19). This follows the measures announced by the European Central Bank (ECB) providing temporary capital and operational relief to Significant Institutions. DNB welcomes … Continue Reading

ICMA and ISLA ask ESMA to delay SFTR reporting go-live date

On 18 March 2020, the International Capital Markets Association (ICMA) and the International Securities Lending Association (ISLA) published a letter sent to the European Securities and Markets Authority (ESMA) asking for a delay to the upcoming application of reporting obligations under the Securities Financing Transactions Regulation ((EU) 2015/2365) (SFTR). Under Article 4 of the SFTR, … Continue Reading

EBA releases final chapter of handbook on valuation for purposes of resolution under BRRD

On 10 March 2020, the European Banking Authority (EBA) published a new chapter of its Handbook on valuation for the purposes of resolution. The new chapter replaces chapter 10 relating to management information systems. The new chapter deals with resolution authorities’ assessment, in the context of the resolvability assessment, of the institutions’ capability to swiftly … Continue Reading

EBA issues updated list of validation rules

On 10 March 2020, the European Banking Authority issued a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting, highlighting those which have been deactivated either for incorrectness or for triggering IT problems. Member State competent authorities throughout the EU are informed that data submitted in accordance with these ITS … Continue Reading

EBA launches consultation to update identification methodology for G-SIIS

On 5 March 2020, the European Banking Authority (EBA) published a consultation to update the identification methodology of global systemically important institutions (G-SIIs) and related capital buffer rates. The consultation follows the Basel Committee on Banking Supervision updating its approach to identify global systemically important banks in July 2018. The EBA methodology closely follows the … Continue Reading

Basel Committee meets to review vulnerabilities and emerging risks

On 27 February 2020, the Basel Committee on Banking Supervision issued a press release concerning its meeting on 26-27 February 2020. Among other things the press release notes that the Basel Committee discussed the financial stability implications of the coronavirus  outbreak (Covid-19) for the banking system and exchanged information on the business continuity measures that … Continue Reading

Shaping the future of payments: BIS Quarterly Review

On 1 March 2020, the Bank for International Settlements (BIS) published its latest Quarterly Review. In its overview of market developments covering the three months to late February, the Review: recounts how the late 2019 market upswing faltered amid unease over the impact of the Covid-19 outbreak; notes that the sell-off was uneven across asset … Continue Reading

ESRB report – Macroprudential implications of financial instruments in Levels 2 and 3 for accounting purposes

On 25 February 2020, the European Systemic Risk Board (ESRB) published a report on the macroprudential implications of financial instruments that are measured at fair value according to IFRS 9 and IFRS 13 (with a focus on those classified in Levels 2 and 3, since they are typically measured using models and other market-based techniques, … Continue Reading

Act implementing CRD V and CRR II published for consultation

On 12 February 2020, the draft Act implementing capital requirements 2020 (Implementatiewet kapitaalvereisten 2020, the Draft Act) was published for public consultation. The Draft Act contains changes to the Act on the Financial Supervision (Wet op het financieel toezicht) which are necessary to implement: Directive (EU) 2019/878 of the European Parliament and of the Council … Continue Reading

Final EBA opinion on deposit guarantee schemes pay outs

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 Directive. To support the Commission in meeting this obligation, the European Banking Authority (EBA) committed to drafting three opinions on the DGSD. … Continue Reading

EEA Joint Committee Decisions published in OJ

On 30 January 2020, there was published in the Official Journal of the European Union: Decision No 62/2018 of the EEA Joint Committee concerning the incorporation of delegated and implementing regulations relating to the Solvency II Directive; Decision No 63/2018 of the EEA Joint Committee concerning the incorporation of Commission Delegated Regulation (EU) 2016/438 and … Continue Reading

EBA releases its annual assessment of the consistency of internal model outcomes

On 31 January 2020, the European Banking Authority (EBA) published two reports on the consistency of risk weighted assets across all EU institutions authorised to use internal approaches for the calculation of capital requirements. The reports cover credit risk for high and low default portfolios, as well as market risk. The credit risk report examines … Continue Reading

The finalisation of the Basel III reforms in a post-Brexit environment: single or dual-track approach?

On 22 January 2020, Norton Rose Fulbright’s corporate financial services and government relations practices, in cooperation with the City of London Corporation, organised a panel debate on “The finalisation of the Basel III reforms in a post-Brexit environment: single or dual-track approach?”. Hosted in Norton Rose Fulbright’s Brussels office, the event gathered over 75 participants, … Continue Reading

EBA discussion paper on future changes to EU-wide banking sector stress test

On 22 January 2020, the European Banking Authority (EBA) published a discussion paper on future changes to the EU-wide stress test. The proposed new framework comprises of two components owned by supervisors and banks respectively: the supervisory leg and the bank leg. The supervisory leg serves as the starting point for supervisory decisions and would … Continue Reading

ECB recommendation on dividend distribution policies

On 21 January 2020, the European Central Bank (ECB) published a letter from Andrea Enria, ECB Supervisory Board Chair, to significant institutions supervised under the Single Supervisory Mechanism (SSM) regarding variable remuneration policies. Additionally, the ECB has also published a recommendation (dated 17 January 2020) on dividend distribution policies. In the letter, the ECB reminds … Continue Reading

ECB consults on draft ECB guideline on the materiality threshold for credit obligations past due for less significant institutions

On 20 January 2020, the European Central Bank (ECB) published a consultation on a draft ECB guideline that specifies how Member State national competent authorities (NCAs) shall exercise the discretion conferred on them under Article 178(2)(d) of the Capital Requirements Regulation (CRR) in relation to less significant institutions with regard to the threshold for assessing … Continue Reading

EBA peer review on the application of the RTS on the criteria to identify material risk takers

On 16 January 2020, the European Banking Authority (EBA) published a report on the application by Member State competent authorities (NCAs) of the regulatory technical standards (RTS) on the criteria to identify categories of staff whose professional activities have a material impact on an institution’s risk profile. The review shows that, within the EEA, NCAs … Continue Reading

EBA calls on banks to consider long-term horizons in their strategies and business activities

On 18 December 2019, the European Banking Authority (EBA) published a report on undue short-term pressures from the financial sector on corporations. The report is in response to the call for advice from the European Commission as part of its Action Plan, Financing Sustainable Growth, and will inform policy actions that could be taken to … Continue Reading

FSB 2020 work programme

On 17 December 2019, the Financial Stability Board (FSB) published its work programme for 2020.  The FSB’s work programme is split across five areas: addressing new and emerging vulnerabilities in the financial system: including more detailed work on FinTech, global stablecoins, cross-border payment systems and cyber resilience; finalising and operationalising post-crisis reforms: including building resilient … Continue Reading

ECB Regulation and Decision on supervisory fees

On 17 December 2019, there was published in the Official Journal of the European Union (OJ): Regulation (EU) 2019/2155 of the European Central Bank (ECB) amending the ECB Regulation on supervisory fees. The ECB has decided to no longer require advance payment of its annual supervisory fees. The fees will only be levied after the … Continue Reading

ECB speech on banking supervision activities

On 12 December 2019, the European Central Bank (ECB) published the introductory comments made by its chair, Andrea Enria, at the second ordinary hearing at the European Parliament’s Economic and Monetary Affairs Committee. In his comments, Mr Enria describes the progress in the Eurozone in reducing risks in the banking sector noting that the volume … Continue Reading

EPC 2019 Payment Threats and Fraud Trends Report

On 9 December 2019, the European Payments Council published the 2019 Payment Threats and Fraud Trends Report, which provides an overview of the most important threats in the European payments landscape. The report provides an overview of the most important threats in the payments landscape, including social engineering and phishing, malware, advanced persistent threats (APT), … Continue Reading

EBA updates guidelines on harmonised definitions and templates for the reporting of funding plans of credit institutions

On 9 December 2019, the European Banking Authority (EBA) published updated guidelines on harmonised definitions and templates for the reporting of funding plans of credit institutions. The guidelines have been drafted in accordance with Article 16 of the Regulation establishing the EBA, which mandates the European Supervisory Authority to seek to establish consistent, efficient and … Continue Reading

ESRB recommendation on exchange and collection of information on branches of credit institutions for macroprudential purposes published in OJ

On 9 December 2019, there was published in the Official Journal of the European Union (OJ) a recommendation of the European Systemic Risk Board (ESRB) on the exchange and collection of information for macroprudential purposes on branches of credit institutions having their head office in another Member State or in a third country. Contained within … Continue Reading
LexBlog