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Topic: Banking

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Mutually assured cooperation – the issue of cross-border banks

On 12 April 2019, the European Central Bank (ECB) published a speech by Andrea Enria (Chair of the ECB Supervisory Board) on the issue of cross-border banks. Mr Enria begins his speech by discussing the lessons that were learnt on crisis management during the 2008 global financial crisis. He also discusses what the ECB has … Continue Reading

EBA updates list of diversified indices

On 11 April 2019, the European Banking Authority (EBA) updated the list of diversified indices, which was originally published in December 2013. The list is part of the implementing technical standards (ITS) drafted to calculate the capital requirements for position risk in equities according to the standardised rules. The list was updated according to the … Continue Reading

ECB launches public consultation on amendments to the supervisory fees framework

On 11 April 2019, the European Central Bank (ECB) launched a public consultation on proposed changes to the ECB Regulation on supervisory fees. The proposed amendments mainly concern the individual fees the ECB levies on the banks it supervises and the timing of their collection. Most importantly, the proposals will result in the ECB calculating … Continue Reading

Basel Committee – new section on website setting out consolidated version of the global standards

The Basel Committee on Banking Supervision (Basel Committee) has launched a new section of its website that sets out a consolidated version of its global standards for the regulation and supervision of banks. The new area of the website provides the full set of standards of the Basel Committee. Also, the website enables users to view the … Continue Reading

EBA final report on RTS on conditions to allow institutions to calculate KIRB

On 8 April 2019, the European Banking Authority (EBA) published a report containing the final draft regulatory technical standards (RTS) specifying the conditions that allow institutions to calculate the capital requirements of the securitised exposures (KIRB) in accordance with the purchased receivables approach under Article 255 of the Capital Requirements Regulation (CRR). The draft RTS, … Continue Reading

EBA clarifies the second set of issues raised by its working group on APIs

On 1 April 2019, the European Banking Authority (EBA) published clarifications to the second set of issues raised and discussed by participants of its working group on application programming interfaces (APIs) under the revised Payments Services Directive (PSD2). The issues relate to API performance and support, the provision of a list of third party providers … Continue Reading

Regulation amending Regulation on cross-border payments

On 29 March 2019, there was published in the Official Journal of the EU, Regulation (EU) 2019/518 of 19 March 2019 amending Regulation (EC) No 924/2009 as regards certain charges on cross-border payments in the EU and currency conversion charges. The Regulation enters into force on 18 April 2019. It generally applies from 15 December … Continue Reading

Brexit: SRB position paper

On 29 March 2019, the Single Resolution Board (SRB) published a position paper setting out its expectations as regards the resolvability of banks in the context of Brexit. The position paper aims to ensure that the powers of Banking Union resolution authorities are effective in achieving the resolution objectives at the time of resolution. These … Continue Reading

International trade bodies publish 2019 version of Trade Finance Principles

On 27 March 2019, the Bankers Association for Finance and Trade (BATF) announced jointly with The Wolfsberg Group and the International Chamber of Commerce, the publication of appendices to its 2017 Trade Finance Principles guidance document. The guidance document addresses the due diligence required by global and regional financial institutions of all sizes in the financing … Continue Reading

Basel Committee summary of follow-up actions for Basel III RCAP assessments

On 25 March 2019, the Basel Committee on Banking Supervision (Basel Committee) published overviews of follow-up actions taken or planned by member jurisdictions as of end-2018 to address deviations from the Basel standards identified as part of the  Regulatory Consistency Assessment Programme (RCAP). The follow-up actions relate to assessments of risk-based capital and Liquidity Coverage … Continue Reading

ECB speech on supervisory priorities and annual report for 2018 supervisory activities

On 21 March 2019, the European Central Bank (ECB) published a speech by its Supervisory Board Chair, Andrea Enria, following the publication of its 2018 annual report on supervisory activities. Alongside an overview of work conducted in 2018, Mr Enria discusses the ECB’s supervisory priorities for 2019: credit risk: the ECB will continue to promote … Continue Reading

DNB first central bank to sign Principles for Responsible Investment

On 20 March 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) announced that it has signed the Principles for Responsible Investment (PRI) as part of its new Corporate Social Responsibility (CSR) strategy. By doing so DNB, has committed itself to integrate six environmental, social and governance (ESG) principles in its investment practices. DNB is … Continue Reading

European Commission consults on draft Implementing Decisions under BMR

On 19 March 2019, the European Commission published for consultation the following draft Implementing Decisions under the Benchmarks Regulation (BMR): Commission Implementing Decision (EU) on the equivalence of the legal and supervisory framework applicable to benchmarks in Singapore in accordance with Regulation (EU) 2016/1011 of the European Parliament and of the Council, and annex; and … Continue Reading

Updated EBA methodological guide on risk indicators and detailed risk analysis tools

On 20 March 2019, the European Banking Authority (EBA) published an updated methodological guide on risk indicators and detailed risk analysis tools. The updated guide includes additional indicators based on IFRS 9 information, as well as other indicators to better understand institutions’ profitability, exposures to sovereign counterparties and own funds requirements for operational risk, among … Continue Reading

Basel Committee and EBA report on Basel III monitoring exercise as of 30 June 2018

On 20 March 2019, the Basel Committee on Banking Supervision (Basel Committee) published the results of its Basel III monitoring exercise, based on data as of 30 June 2018. Data is provided for a total of 189 banks, including 106 large internationally active banks. These “Group 1” banks are defined as internationally active banks that have … Continue Reading

Basel Committee report on proportionality in bank regulation and supervision

On 19 March 2019, the Basel Committee on Banking Supervision (Basel Committee) published a report on proportionality in bank regulation and supervision. The report summarises the responses received to the Basel Committee’s survey on the same topic by member jurisdictions and participants of the Basel Consultative Group. The Basel Committee found that the majority of … Continue Reading

EBA report on convergence of supervisory practices

On 15 March 2019, the European Banking Authority (EBA) published its fourth report on the convergence of supervisory practices and its activities carried out in 2018 to promote convergence. Key points to note from the EBA’s analysis of supervisory practices include: in 2018, a good degree of progress was made by the competent authorities in … Continue Reading

ECB announces publication date of the euro short-term rate

On 14 March 2019, the European Central Bank announced that it will start publishing the euro short-term rate as of 2 October 2019. The rate will be available by 9:00am CET on each TARGET2 business day, based on actual individual transactions from the previous day. It will be published on the ECB’s website, via the … Continue Reading

EBA observes a slight increase of high earners in EU banks for 2017

On 11 March 2019, the European Banking Authority (EBA) published its report on high earners for 2017. The data shows that the number of high earners in EU banks receiving a remuneration of more than EUR 1 million slightly increased from 4,597 in 2016 to 4,859 in 2017. The average ratio between the variable and … Continue Reading

EBA publishes clarifications to the first set of issues raised by its Working Group on APIs under PSD2

On 11 March 2019, the European Banking Authority (EBA) published clarifications to the first set of issues that have been raised and discussed by participants of its working group on application programming interfaces (APIs) under the revised Payment Services Directive (PSD2), which met for the first time on 21 February 2019. The clarifications relate to … Continue Reading

FSB takeaways from banking workshop on compensation

On 8 March 2019 the Financial Stability Board (FSB) published a document containing the key takeaways of its London workshop on supervisory practices that implement the FSB’s Principles for Sound Compensation Practices and their Implementation Standards. Key takeaways from the workshop included: firms reported significant changes to compensation structures post-financial crisis following the introduction of … Continue Reading

ECB speech: Supervising banks – principles and priorities

On 7 March 2019, the European Central Bank (ECB) published a speech by the Chair of its Supervisory Board, Andrea Enria. Key points in the speech include: a highly integrated EU market remains a long-term goal. Despite the progress achieved, the European banking sector is still fragmented, as the restructuring process has taken place mainly … Continue Reading

EBA consults on guidelines for the reporting of funding plans

On 5 March 2019, the European Banking Authority (EBA) issued a consultation on updating its guidelines on harmonised definitions and templates for the reporting of funding plans. The majority of the proposed changes are designed to align the definitions and breakdowns used in the guidelines with those used in FINREP to facilitate the implementation and … Continue Reading
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