On 12 October 2021, the European Securities and Markets Authority (ESMA) published a final report on technical standards specifying the content and format of the simple, transparent and standardised (STS) securitisation notification for on-balance sheet securitisations. Regulation (EU) 2021/557 amended the framework under the Securitisation Regulation (SECR) to on-balance sheet securitisations (also called synthetic securitisations). … Continue Reading
On 5 October 2021, the European Central Bank published a speech by a member of its Supervisory Board, Edouard Fernandez-Bollo. The speech is entitled ‘ECB Banking Supervision’s post-pandemic priorities – the way forward’. In his speech Mr Fernandez-Bollo reflects on some of the challenges and priorities that lie ahead for the banking sector. These include: … Continue Reading
On 4 October 2021, there was published in the Official Journal of the EU (OJ) Commission Implementing Regulation (EU) 2021/1751 laying down implementing technical standards for the application of the Bank Recovery and Resolution Directive with regard to uniform formats and templates for notifications of determination of the impracticability of including contractual recognition of write … Continue Reading
On 21 September 2021, the European Banking Authority (EBA) published a report on the platformisation of the EU banking and payments sector. The EBA identifies a rapid growth in the use of digital platforms to ‘bridge’ customers and financial institutions, a trend expected to accelerate in line with the wider trend toward the digitisation of … Continue Reading
On 17 September 2021, there was published in the Official Journal of the EU (OJ) Commission Delegated Regulation (EU) 2021/1527 of 31 May 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) for the contractual recognition of write down and conversion power. The Delegated Regulation covers: Conditions under … Continue Reading
On 16 September 2021, the Single Resolution Board (SRB) published an update to information on its approach to prior permissions for eligible liabilities. Prior to calling, redeeming, repaying or repurchasing eligible liabilities instruments before their contractual maturity, institutions are required to obtain the authorisation of the resolution authority in accordance with Article 77(2) of the … Continue Reading
On 15 September 2021, the European Banking Authority (EBA) published revised guidelines on the stress tests conducted by Member State deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD). The revised guidelines strengthen the current DGS stress-testing framework by requiring the DGSs to stress test their ability to perform all of the interventions they … Continue Reading
On 8 September 2021, the European Commission published a webpage containing a Commission Delegated Regulation of 31 May 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) for the contractual recognition of write down and conversion powers. The provisions of the Delegated Regulation specify: The conditions under which … Continue Reading
On 6 September 2021, the following European Central Bank decisions were published in the Official Journal of the EU: Decision (EU) 2021/1437 of the European Central Bank of 3 August 2021 amending Decision (EU) 2017/934 on the delegation of decisions on the significance of supervised entities (ECB/2021/33). Decision (EU) 2021/1438 of the European Central Bank … Continue Reading
On 18 August 2021, the European Banking Authority (EBA) published a report on high earners for 2019. The report has been developed in accordance with Article 75(3) of the Capital Requirements Directive IV, which mandates the EBA to collect information on the number of individuals per institution that are remunerated EUR one million or more … Continue Reading
On 17 August 2021, the European Banking Authority (EBA) published its Annual Report on resolution colleges for 2020. The Annual Report sets out the EBA’s observations on the functioning of colleges during the year and the progress achieved in key areas of resolution planning. For the 2021 cycle of resolution college meetings, the EBA intends … Continue Reading
On 16 August 2021, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation 2021/1340 of 22 April 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) determining the content of the contractual terms on recognition of resolution stay powers. The RTS are based … Continue Reading
On 3 August 2021, the European Banking Authority (EBA) issued a report containing draft implementing technical standards (ITS) that amend the current ITS on the provision of information for the purpose of resolution plans (Implementing Regulation (EU) 2018/1624). The EBA states that the proposed amendments are minimal and are designed to re-align the standards with … Continue Reading
On 30 July 2021, the Basel Committee on Banking Supervision (Basel Committee) and the World Bank (WB) published a report on an earlier joint global survey that focussed on proportionality in bank regulation and supervision. The survey involved 90 authorities, with a broad distribution across geographical regions and income groups. The concept of proportionality is … Continue Reading
On 26 July 2021, the European Banking Authority (EBA) issued a public consultation on draft regulatory technical standards (RTS) setting out criteria for the identification of shadow banking entities for the purposes of reporting large exposures. The legislative basis for the draft RTS is Article 394(4) of the Capital Requirements Regulation, as amended by Regulation … Continue Reading
On 8 July 2021, there was published in the Official Journal of the EU Commission Delegated Regulation (EU) 2021/118 of 26 March 2021 supplementing the Bank Recovery and Resolution Directive (BRRD) with regard to regulatory technical standards (RTS) specifying the methodology to be used by resolution authorities to estimate the requirement referred to in Article … Continue Reading
On 30 June 2021, the European Banking Authority (EBA) issued a consultation paper on draft regulatory technical standards (RTS) specifying the requirements for originators, sponsors, original lenders and servicers related to risk retention, in line with the Securitisation Regulation. The draft RTS have been developed in accordance with Article 6(7) of the Securitisation Regulation, as … Continue Reading
On 24 June 2021, there was published in the Official Journal of the EU Commission Implementing Regulation (EU) 2021/1018 of 22 June 2021 amending the implementing technical standards laid down in Implementing Regulation (EU) 2021/7637 as regards the disclosure of indicators of global systemic importance, and repealing Implementing Regulation (EU) No 1030/2014. Article 131 of … Continue Reading
On 23 June 2021, the European Banking Authority (EBA) issued a report on the treatment of incoming third country branches (TCB) under the national law of Member States. The report is based on Article 21b(10) of the Capital Requirements Directive IV which mandates the EBA to submit a report to the European Parliament, the Council … Continue Reading
On 21 June 2021, the Single Resolution Board (SRB) published its policy on how banks can notify resolution authorities when bail-in recognition clauses cannot be added to contracts under third country law. In accordance with Article 55(2) of the Bank Recovery and Resolution Directive (BRRD), banks may determine that it is legally or otherwise impracticable … Continue Reading
On 16 June 2021, the European Commission issued a targeted consultation designed to gather evidence on improving transparency and efficiency in secondary markets for non-performing loans (NPLs). The Commission notes that one of the key actions in fostering secondary markets for NPLs is to improve the quantity, quality and comparability of NPL data. Secondary markets … Continue Reading
On 7 June 2021, the European Banking Authority (EBA) issued an updated list of indicators for risk assessment and risk analysis tools, together with the accompanying methodological guide. This guidance, which describes how risk indicators are computed in EBA publications, allows Member State competent authorities and users of EBA data to interpret key bank figures … Continue Reading
On 7 June 2021, the European Parliament (EP) issued a press release stating that EP negotiators and the Council of the EU have agreed on the proposed Directive on credit servicers, credit purchasers and the recovery of collateral. The Directive dates back to 2018, and is intended to help lenders free their balance sheets from … Continue Reading
On 7 June 2021, the Basel Committee on Banking Supervision (Basel Committee) issued a press release following its meeting on 4 June 2021. During this meeting the Basel Committee took stock of COVID-19 risks to the banking system and discussed policy and supervisory initiatives. In terms of crypto-assets the press release notes that the Basel … Continue Reading
