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FRB approves final rule requiring largest, most systemically important US bank holding companies to further strengthen capital positions

Created
Friday, 24 July 2015

                                                                   20 July 2015

 

The Federal Reserve Board approved a final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen their capital positions.

The final rule establishes the criteria for identifying a GSIB and the methods that those firms will use to calculate a risk-based capital surcharge, which is calibrated to each firm's overall systemic risk.

The surcharges will be phased in beginning on 1 January 2016, becoming fully effective on 1 January 2019.

Related documents

Press release

Final rule

The BCBS and the IOSCO release final criteria for identifying simple, transparent and comparable securitisations

Created
Friday, 24 July 2015

 

                                                                   23 July 2015

 

The Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) released final criteria for identifying simple, transparent and comparable securitisations. The purpose of these criteria is to assist in the financial industry's development of simple, transparent and comparable securitisation structures. 

 

 

Related documents

 

Press release

 

Criteria for identifying simple, transparent and comparable securitisations

 

PRA publishes supervisory statement setting out the specific liquidity coverage requirement reporting arrangements

Created
Wednesday, 22 July 2015

                                                                   20 July 2015

 

The Prudential Regulation Authority (PRA) published supervisory statement setting out the specific liquidity coverage requirement reporting arrangements which the PRA expects firms to follow on an interim basis in the period between 1 October 2015, the date the LCR standard applies in accordance with the European Commission’s delegated act with regard to the LCR for credit institutions, and the introduction of mandatory reporting of the new LCR return following adoption of the amending implementing technical standard on liquidity reporting by the Commission.

Related documents

Press release

Supervisory Statement

Prudential Requirements: EBA proposes corrections to the adopted technical standards on non-delta risk options and identified staff

Created
Tuesday, 21 July 2015

The European Banking Authority (EBA) issued amendments to the adopted regulatory technical standards (RTS) on the treatment of non-delta risk of options in the standardised market risk approach and to the RTS on the criteria to identify categories of staff whose professional activities have a material impact on an institution's risk profile. 

Related documents

Final draft RTS correcting Delegated Regulation (EU) 604\2014

Final draft RTS correcting Delegated Regulation (EU) 528\2014

Prudential Requirements: EBA updates on the status of its final draft technical standards on additional liquidity monitoring metrics

Created
Tuesday, 21 July 2015

                                                                   17 July 2015

 

The European Banking Authority (EBA), following requests from stakeholders, published an update on the application date of its final draft Implementing Technical Standards (ITS) on additional liquidity monitoring metrics.

Related document

Final ITS


EBA publishes final product oversight and governance requirements for manufactures and distributors of retail banking products

Created
Thursday, 16 July 2015

                                                                   16 July 2015

 

The European Banking Authority (EBA) published its final guidelines on product oversight and governance (POG) arrangements for retail banking products. These Guidelines set out requirements for manufacturers and distributors when designing and bringing to market mortgages, personal loans, deposits, payment accounts, payment services and electronic money.

The Guidelines will apply from 03 January 2017.

Related documents

Press release

Guidelines

BCBS publishes a progress report on the implementation of principles for effective supervisory colleges

Created
Thursday, 16 July 2015

                                                                   16 July 2015

 

The Basel Committee on Banking Supervision (BCBS) published a progress report on the implementation of principles for effective supervisory colleges. The purpose of supervisory colleges is to more effectively supervise global systemically important banks (G-SIBs) and other internationally active banking groups by strengthening information-sharing among supervisors, helping the development of a common understanding of risk in banking groups, promoting a shared agenda for addressing risks and vulnerabilities, and providing a platform for communicating key supervisory messages among college members.

Related documents

Press release

Progress report

BCBS publishes the final guidelines for identifying and dealing with weak banks

Created
Thursday, 16 July 2015

                                                                   16 July 2015

 

The Basel Committee on Banking Supervision (BCBS)published the final guidelines for identifying and dealing with weak banks. Weak banks are a worldwide phenomenon. They pose a continuing challenge for bank supervisors and resolution authorities in all countries, regardless of the political structure, financial system and level of economic and technical development. All bank supervisors should be prepared to mitigate the incidence of weak banks and deal with them when they occur.

Related documents

Press release

Guidelines

 

Anti – Money Laundering: BCBS issues for public consultation a revised version of the general guide to account opening

Created
Thursday, 16 July 2015

                                                                   16 July 2015           

The Basel Committee on Banking Supervision (BCBS) issued for public consultation a revised version of the general guide to account opening, which was first published in February 2003. The proposed guide aims to support banks in implementing the Financial Action Task Force standards and guidance, which requires the adoption of specific policies and procedures, in particular on account opening.

Consultation will run until 22 October 2015.

Related documents

Press release

Consultative document

European Commission launches a consultation on possible impact of the CRR and CRD IV on bank financing of the economy

Created
Wednesday, 15 July 2015

                                                                   15 July 2015        

In the wake of the financial crisis the EU, like many other jurisdictions, introduced stricter rules on capital requirements for banks. The Commission started a consultation on how some of those rules have worked in practice – for example, whether they have affected lending to small businesses and financing of infrastructure projects.

Capital Requirements for banks are set out in the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD IV).

Questions the consultation is seeking to answer include:

- To what extent have CRR and CRD IV affected the level of capital held by banks?

- Are all the new requirements under all circumstances proportionate to the risks they were meant to address?

- What impact are the rules having on lending to smaller businesses, and to infrastructure projects?

- Could some of the rules be simplified or differentiated by risk or size, without compromising on their objectives of financial soundness and stability of banks?

Consultation will run until 7 October 2015.

Related documents

Press release

Consultation paper

Annex accompanying the consultation paper

Consultation page

ESMA updates list of authorised CCP and public register on clearing obligation

Created
Wednesday, 15 July 2015

                                                                   13 July 2015

 

The European Securities and Markets Authority (ESMA) published an update of itslist of central clearinghouses (CCPs)which are authorised under the European Markets Infrastructure Regulation (EMIR) and itsPublic Register for the Clearing Obligation.

Related documents

List

Public Register

Bank of England and PRA publish a consultation paper on implementing a UK leverage ratio framework

Created
Friday, 10 July 2015

                                                                   10 July 2015

 

Bank of England and Prudential Regulation Authority (PRA) published a consultation paper on implementing a UK leverage ratio framework. The consultation sets out the PRA’s proposed approach in relation to the implementation of a domestic leverage ratio framework and its key components, such as scope of application, minimum leverage ratio requirement, leverage ratio buffers, definitions and reporting and disclosure requirements.

The consultation closes on Monday 12 October 2015.

Related document

Consultation paper

 

EIOPA calls for high quality public disclosure under Solvency II

Created
Friday, 10 July 2015

                                                                   10 July 2015

 

The European Insurance and Occupational Pensions Authority (EIOPA) published a note which purposes to stress the importance of high quality public information and the relevant use of external audit services in relation to Solvency II public disclosures. In the Note EIOPA points out that public disclosure under Solvency II can be considered as a paradigm shift in communication between (re)insurance companies and their stakeholders. 

Related documents

Press release

Note

EBA streamlines intra-group financial support for banking institutions

Created
Friday, 10 July 2015

                                                                   09 July 2015

 

The European Banking Authority (EBA) published final draft Regulatory Technical Standards (RTS) and Guidelines on the provision of group financial support, as well as final draft Implementing Technical Standards (ITS) detailing the disclosure requirements of these activities. These Technical Standards and Guidelines specify the conditions under which one entity of a banking group can provide support to another entity of the same group in financial difficulties. These have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) and aim at strengthening integrated risk management in EU banking groups by removing possible uncertainties around supporting entities in distress within the same group.

Related documents

Press release

Guidelines on group financial support

RTS on financial support (EBA/RTS/2015/08)

ITS on Disclosure of Group Financial Support Agreements 

FSB publishes an interim report on progress in reforming major interest rate benchmarks

Created
Friday, 10 July 2015

                                                                   09 July 2015

 

The FSB published an interim progress report on reforms to existing major interest rate benchmarks (such as LIBOR, EURIBOR and TIBOR, collectively the “IBORs”) and in the development and introduction of alternative near risk-free interest rate benchmarks (termed “RFRs”). The report examines progress toward the FSB’s recommendations for reforms in this area, developed by the Official Sector Steering Group (OSSG) and published in July 2014.

Related documents

Press release

Interim progress report

BCBS issues on principles on corporate governance for banks

Created
Friday, 10 July 2015

                                                                   09 July 2015

 

The Basel Committee issued corporate governance principles for banks.  This set of principles supersedes guidance published by the Committee in 2010. The revised guidance emphasises the critical importance of effective corporate governance for the safe and sound functioning of banks. It stresses the importance of risk governance as part of a bank's overall corporate governance framework and promotes the value of strong boards and board committees together with effective control functions.

Related documents

Press release

Corporate governance principles for banks 

CPMI and IOSCO begin first "Level 3" PFMI Principles assessment

Created
Friday, 10 July 2015

                                                                   09 July 2015

 

The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) announced that they have started the first Level 3 assessment of the implementation of the Principles for financial market infrastructures (PFMI), the international standards for financial market infrastructures (FMIs). This review will examine consistency in the outcomes of PFMI Principles implementation and is part of the CPMI-IOSCO's monitoring of full, timely and consistent implementation of the PFMI.

Related document

Press release

EBA publishes final technical standards and guidelines on simplified obligations

Created
Wednesday, 08 July 2015

                                                                   07 July 2015

 

The European Banking Authority (EBA) published its final Guidelines and final draft Implementing Technical Standards (ITS) relating to the eligibility of institutions for simplified obligations in the context of recovery planning, resolution planning and resolvability assessments. The EBA also issued final draft ITS on the procedures, forms and templates for submitting information on resolution plans.

Related documents

Press release

Guidelines on simplified obligations

ITS on simplified obligations

ITS on reporting for resolution plans

BCBS publishes frequently asked questions on the Basel III leverage ratio framework

Created
Wednesday, 08 July 2015

                                                                   08 July 2015

 

The Basel Committee on Banking Supervision (BCBS) published a document setting out the first and second set of Frequently Asked Questions (FAQs) that relate to the Basel III leverage ratio framework.

The questions and answers are grouped according to different relevant areas:

criteria for the recognition of cash variation margin associated with derivative exposures;

centrally cleared client derivative exposures;

exposures and netting of securities financing transactions (SFTs);

the treatment of netting of SFTs and derivatives under a cross-product netting agreement;

the exposure measure under the additional treatment for credit derivatives;

the treatment of long settlement transactions and failed trades.

Related documents

Press release

FAQs

EIOPA publishes the technical information on the symmetric adjustment of the equity capital charge for Solvency II

Created
Wednesday, 08 July 2015

                                                                   07 July 2015

 

The European Insurance and Occupational Pensions Authority (EIOPA) published the technical information on the symmetric adjustment of the equity capital charge for Solvency II with reference to the end of June 2015.

Related document

Symmetric adjustment of the equity capital charge

  • Last Update: Tuesday 28 July 2015, 16:14.

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Highlights (week 02 - 08 July)