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EPC updates interbank implementation guidelines for SEPA instant credit transfer scheme and credit transfer scheme

The European Payments Council (EPC) has published the following updated versions of its interbank implementation guidelines for the Single Euro Payments Area (SEPA): SEPA instant credit transfer scheme interbank implementation guidelines – version 1.2. The objective of these guidelines is to define the rules to be applied to the interbank ISO 20022 XML message standards … Continue Reading

ECB TARGET2 decisions and guideline published in OJ

There has been published in the Official Journal of the European Union (OJ), the following decisions and guideline: Decision (EU) 2017/20180 of the European Central Bank (ECB) of 22 September 2017 amending Decision ECB/2010/9 on access to and use of certain TARGET2 data. The Decision enters into force on 15 November 2017; Decision (EU) 2017/2081 … Continue Reading

Commission adopts Delegated Regulations setting out RTS on valuation under BRRD

The European Commission has adopted the following Delegated Regulations setting out regulatory technical standards (RTS) on valuation under the Bank Recovery and Resolution Directive (BRRD): Commission Delegated Regulation (EU) No …/… supplementing the BRRD with regard to RTS specifying the criteria relating to the methodology for assessing the value of assets and liabilities of institutions … Continue Reading

EBA publishes final guidance on connected clients

The European Banking Authority (EBA) has published final guidelines on connected clients under Article 4(1)(39) of the Capital Requirements Regulation (CRR). The guidelines apply from 1 January 2019 and replace the ‘Guidelines on the implementation of the revised large exposures regime’ issued by the Committee of European Banking Supervisors on 11 December 2009. The guidelines … Continue Reading

ECB reports on supervision of less significant institutions in SSM

The European Central Bank (ECB) has published a report on the supervision of less significant institutions (LSIs) in the single supervisory mechanism (SSM). In the report, the ECB sets out an overview of: the organisation of banking supervision in the SSM; the description of the LSI sector and recent developments; the challenges facing LSIs and … Continue Reading

EBA publishes guidance on supervision of significant branches

The European Banking Authority (EBA) has published final guidelines on the supervision of significant branches. The guidelines set out a framework for the identification of ‘significant-plus’ branches through a common assessment carried out by home and host competent authorities of the branches’ relevance to the institution or the financial stability in the host Member State. … Continue Reading

EBA recommends proportionate approach in coverage of entities in banking group recovery plans

From the European Banking Authority’s (EBA) thematic reviews of recovery plans and its regular attendance of several colleges of supervisors, it was identified that several group recovery plans are, currently, written predominantly from the Union parent undertaking’s perspective, with little emphasis on the other entities in the group. This approach clearly limits the credibility and … Continue Reading

EBA finalises 2018 EU-wide stress test timeline

The European Banking Authority (EBA) has agreed on the final timeline of the 2018 EU-wide stress test. Following a discussion with the industry on the draft methodology during the summer of 2017, the EBA Board of Supervisors decided to extend the overall timeline for the stress test to take into account the challenges that the … Continue Reading

EPC consultation on mobile contactless card payments

The European Payments Council has launched a public consultation on the mobile contactless SEPA card payments implementation interoperability guidelines. The guidelines focus on interoperability between the different stakeholders involved in the mobile contactless card payment ecosystem. In particular, they address the interoperability aspects related to the mobile contactless card payment application life cycle management. They … Continue Reading

EBA consults on requirements for home-host cooperation under PSD2

The European Banking Authority (EBA) has issued a consultation paper on draft Regulatory Technical Standards (RTS) on cooperation between competent authorities in the home and host Member States in the supervision of payment institutions operating on a cross border basis under Article 29(6) of the revised Payment Services Directive (PSD2). The RTS include the scope … Continue Reading

Publication of updated 2017 rulebooks for all SEPA payment schemes, with no operational impact

The European Payments Council (EPC) has published updated rulebook versions for all its SEPA payment schemes: SEPA Credit Transfer scheme (SCT); SEPA Instant Credit Transfer scheme (SCT Inst); SEPA Direct Debit Core scheme (SDD Core); and SEPA Direct Debit Business-to-Business scheme (SDD B2B). These updated versions all replace the previous 2017 versions of all rulebooks, … Continue Reading

Thirteenth progress report on adoption of the Basel regulatory framework

The Basel Committee on Banking Supervision (Basel Committee) has published its latest report which sets out the adoption status of the Basel III standards for each Basel Committee member jurisdiction as of end-September 2017. The report updates the Basel Committee’s previous progress reports which have been published on a semi-annual basis since October 2011. Key … Continue Reading

EBA guidelines on procedures for complaints of infringements of PSD2

On 17 February 2017, we blogged that the European Banking Authority (EBA) published for consultation draft guidelines that govern the process for complaints that payment service users and other interested parties can submit to Member State national competent authorities (NCAs) with regard to payment service providers’ (PSPs) alleged infringements of the revised Payment Services Directive … Continue Reading

European Commission report on single supervisory mechanism

The European Commission has published a report that assesses the functioning of the single supervisory mechanism (SSM). The report also represents the first review by the Commission of the Regulation establishing the SSM (the SSM Regulation). The Commission comes to an overall positive assessment of the application of the SSM Regulation, with no major changes … Continue Reading

European Commission communication on completing the Banking Union

The European Commission (Commission) has published a communication on completing the Banking Union. The communication takes stock of what has been achieved in creating the Banking Union and what measures are still needed to complete it. It urges the European Parliament and the Council to progress quickly in the adoption of measures to tackle remaining … Continue Reading

EBA consults on draft ITS on reporting for resolution plan under BRRD

The Bank Recovery and Resolution Directive (BRRD) sets out a minimum list of information items that resolution authorities may request and mandates the European Banking Authority (EBA) to develop implementing technical standards (ITS) to specify “procedures and a minimum set of standard forms and templates for the provision of information” for resolution plans. Acting upon … Continue Reading

EBA speech highlighting its key areas of work

The European Banking Authority (EBA) has published a speech by Andrea Enria, EBA Chair, given to the European Parliament’s Economic and Monetary Affairs Committee as part of the annual hearing of the chairs of the three European Supervisory Authorities. Points of interest in the speech include: the EBA is developing standardised templates for non-performing loans … Continue Reading

Draft ECON report on BRRD II and SRM II

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has published draft reports containing amendments to the proposed: Directive amending Directive 2014/59/EU on loss-absorbing and recapitalisation capacity of credit institutions and investment firms and amending Directive 98/26/EC, Directive 2002/47/EC, Directive 2012/30/EU, Directive 2011/35/EU, Directive 2005/56/EC, Directive 2004/25/EC, and Directive 2007/36/EC. This draft Directive amends … Continue Reading

EBA and US agencies conclude Framework Cooperation Arrangement on Bank Resolution

The European Banking Authority (EBA) has entered into a framework cooperation arrangement with several US financial regulatory agencies. The framework agreement is not legally binding but serves as guidance for future cooperation arrangements between EU resolution authorities and US resolution authorities in order to support cross-border crisis management information sharing and cooperation including, but not … Continue Reading

ECB speech on European banking supervision highlights need to improve and harmonise

The European Central Bank (ECB) has published a speech by Sabine Lautenschlager, ECB Executive Board Member and ECB Supervisory Board Vice-Chair, entitled European banking supervision – achievements, challenges and the way forward. In her speech Ms Lautenschlager focusses on three themes: supervisors and the single rulebook. In this part of her speech Ms Lautenschlager states … Continue Reading

ECB draft guidelines on a Trans-European Automated Real-time Gross Settlement Express Transfer System

The European Central Bank (ECB) has published draft guidelines that amend earlier ECB guidelines on a Trans-European Automated Real-time Gross Settlement Express Transfer System (earlier ECB guidelines). On 9 June 2016, the Governing Council of the ECB approved the harmonisation of the remuneration of the guarantee funds of financial market infrastructures held with the Eurosystem. … Continue Reading

ECB consults on draft guides concerning credit institution licence applications

The European Central Bank (ECB) has published for consultation: a draft guide to assessments of licence applications. Since 4 November 2014, the ECB has been exclusively competent to authorise all credit institutions established in the Member States participating in the Single Supervisory Mechanism (SSM). This competence is exercised in close cooperation with the relevant Member … Continue Reading

EBA discussion paper on significant risk transfer in securitisation

The European Banking Authority (EBA) has published a discussion paper on the significant risk transfer (SRT) in securitisation. The EBA is seeking views on enhancing the regulatory and supervisory playing field with respect to the assessment and recognition of SRT in three core areas: the standardisation of the process of SRT assessment by Member State … Continue Reading