Feed Entries

Latest news of financial regulation

Total: 4465 itemsDisplaying: 1 - 20 items Page 1 of 224

EBA publishes peer review on the implementation of credit concentration risk guidelines

Created
Friday, 25 July 2014

                                                                     24 July 2014

 

The EBA published a peer review on the implementation of its guidelines on the management of concentration risk under the supervisory review process (SREP).The report shows that National Competent Authorities (NCAs) largely comply with the assessed guidelines (GL31) and credit concentration risk forms an integral part of NCAs' risk assessment system.

 

 

Related documents

Press release

Report

IOSCO publishes report on the social media and automation of advice tools surveys

Created
Friday, 25 July 2014

 

                                                                     24 July 2014

 

The IOSCO published report on the IOSCO Social Media and Automation of Advice Tools Surveys. The paper presents the results of four surveys on the use of social media and automated advice tools in capital markets, and how regulators oversee the use of these tools

 

 

 

Related document

Press release

Report

 

IASB completes reform of financial instruments accounting

Created
Friday, 25 July 2014

                                                                     24 July 2014

 

The IASB completed the final element of its comprehensive response to the financial crisis by issuing IFRS 9 Financial Instruments. The package of improvements introduced by IFRS 9 includes a logical model for classification and measurement, a single, forward-looking ‘expected loss’ impairment model and a substantially-reformed approach to hedge accounting.

The new Standard will come into effect on 1 January 2018 with early application permitted.

Related documents

Press release

Project summary

PRA consults on implementing the Bank Recovery and Resolution Directive

Created
Thursday, 24 July 2014

                                                                     24 July 2014

 

The PRA proposed changes to its rules to implement the EU Bank Recovery and Resolution Directive (BRRD). The BRRD provides a common set of tools and powers for dealing with failing banks and will take effect at the end of 2014.

The PRA’s consultation closes on 19 September 2014 and final rules will be published by 31 December 2014.

 

Related documents

Press release

Consultation Paper

SEC adopts Money Market Fund Reform Rules

Created
Thursday, 24 July 2014

                                                                     24 July 2014

 

The SEC adopted amendments to the rules that govern money market mutual funds.The amendments make structural and operational reforms to address risks of investor runs in money market funds, while preserving the benefits of the funds.

The new rules require a floating net asset value (NAV) for institutional prime money market funds, which allows the daily share prices of these funds to fluctuate along with changes in the market-based value of fund assets and provide non-government money market fund boards new tools – liquidity fees and redemption gates – to address runs.

The SEC also issued a related notice proposing exemptions from certain confirmation requirements for transactions effected in shares of floating NAV money market funds. Additionally, the SEC re-proposed amendments to the Commission’s money market fund rules and Form N-MFP to address provisions that reference credit ratings.

Related documents

Press release

Final rule

Related notice

Proposed rule

News

Money Funds Get New Restrictions Aimed at Preventing Runs (Bloomberg)

Risk Management: EBA, ESMA and EIOPA consult on technical standards for financial conglomerates risk concentration and intra-group transactions

Created
Thursday, 24 July 2014

 

                                                                     24 July 2014

 

The Joint Committee of the three European Supervisory Authorities (ESAs - EBA, ESMA and EIOPA) launched a consultation on draft Regulatory Technical Standards on risk concentration and intra-group transactions within financial conglomerates. The technical standards aim at enhancing supervisory consistency in the application of the Financial Conglomerates Directive (FICOD).

 

The consultation runs until 24 October 2014.

 

Related documents

 

Press release

 

Consultation paper

 

Investment Funds: ESMA consults on counterparty risk calculation methods for UCITS subject to central clearing

Created
Wednesday, 23 July 2014

                                                                     23 July 2014

 

ESMA launched a consultation on the calculation of counterparty risk by Undertakings for Collective Investment in Transferable Securities (UCITS) which enter into OTC derivative transactions which need to be centrally cleared under the European Markets Infrastructure Regulation (EMIR).

The UCITS Directive allows UCITS to invest in both exchange-traded derivatives (ETDs) and OTC derivatives. However, only investments in OTC derivatives are subject to counterparty risk exposure limits.

The consultation runs until 22 October 2014.

Related documents

Press release

Discussion paper

Council adopts rules on payment services and account fees

Created
Wednesday, 23 July 2014

                                                                     23 July 2014

 

The Council adopted a directive aimed at guaranteeing access to basic payment services and improving information on fees related to payment accounts. The directive will enable consumers to make informed choices when opening a payment account by improving the transparency and comparability of information on account fees, whilst eliminating discrimination based on residency. It will also enable consumers to switch accounts more easily.

Related documents

Press release

Cover note

Legislative act

Next step

Publication on the Official Journal of the EU

Council adopts new rules on investment funds

Created
Wednesday, 23 July 2014

                                                                     23 July 2014

 

The Council adopted a directive amending EU rules on investment funds as concerns depository functions, remuneration policies and sanctions. The text amends directive 2009/65/EC on undertakings for collective investment in transferable securities (UCITS), introducing specific provisions on the depository's safekeeping and oversight duties, and defining the conditions in which safekeeping duties can be delegated to a sub-custodian.

Related documents

Press release

Cover note

Legislative act

Next step

Publication on the Official Journal of the EU

Council adopts rules on central securities depositories

Created
Wednesday, 23 July 2014

                                                                     23 July 2014

 

The Council adopted a regulation aimed at improving safety in the securities settlement system and opening the market for central securities depositories (CSD) services. The regulation introduces an obligation to represent all transferable securities in book entry form, i.e. recorded electronically, and to record them in CSDs before trading them on regulated venues. It harmonises settlement periods and settlement discipline regimes across the EU and introduces a common set of rules, inspired by international standards, addressing the risks of CSD operations and services.

Related documents

Press release

Cover note

Legislative act

Next step

Publication on the Official Journal of the EU

The FSB publishes a report on Reforming Major Interest Rate Benchmarks

Created
Tuesday, 22 July 2014

                                                                     22 July 2014

 

The FSB published a report setting out proposals for the reform and strengthening of major interest rate benchmarks and for additional work on the development and introduction of alternative benchmarks. The report draws on an assessment of the major interest rate benchmarks against the IOSCO Principles for Financial Benchmarks conducted by IOSCO and a report by a Markets Participants Group established by the FSB.

Related documents

Press release

Report

CRD IV: EBA consults on criteria to assess other systemically important institutions (O-SIIs)

Created
Monday, 21 July 2014

                                                                     18 July 2014

 

The EBA launched a consultation on draft Guidelines setting forth criteria to identify institutions that are systemically important either at Member State or Union level, the so called ‘other systemically important institutions' (O-SIIs). The Guidelines aim at achieving an appropriate degree of convergence in the identification process as well as at ensuring a comparable, clear and transparent assessment of O-SIIs.

The consultation runs until 18 October 2014.

Related documents

Press release

Consultation paper

 

ESMA issues updated Q&A on the application of the Alternative Investment Managers Directive (AIFMD)

Created
Monday, 21 July 2014

                                                                     21 July 2014

 

The ESMA published an update of its Questions & Answers (Q&A) document on the application of the Alternative Investment Managers Directive (AIFMD).

The updated Q&A clarifies:

- the reporting obligations to national competent authorities; as well as

- the obligations for depositaries and the calculation of leverage.

Related document

Questions & Answers

Bank resolution: EBA publishes final draft technical standards and guidelines on recovery plans

Created
Friday, 18 July 2014

                                                                     18 July 2014

 

The EBA published two final draft Regulatory Technical Standards (RTS) specifying (i) the information to be included in a recovery plan, and (ii) the criteria which competent authorities should apply when assessing the recovery plan of an institution or a group. The final draft RTS are complemented by Guidelines providing the range of scenarios to be used when testing recovery plans.

Related documents

Press release

Guidelines on recovery plan scenarios

Draft RTS on content of recovery plans

Draft RTS on assessment of recovery plans

Corrigendum to Directive 2014/49/EU on deposit guarantee schemes published in the Official Journal of EU.

Created
Friday, 18 July 2014

                                                                     18 July 2014

 

Corrigendum to Directive 2014/49/EU of the EP and of the Council of 16 April 2014 on deposit guarantee schemes has been published in the Official Journal of EU.

Related document

Corrigendum

Credit Rating Agencies: ESMA advises Commission on creditworthiness assessment for sovereign debt

Created
Friday, 18 July 2014

                                                                     18 July 2014

 

The ESMA published its advice to the European Commission on the appropriateness of the development of a European creditworthiness assessment for sovereign debt.

ESMA identifies several key points concerning the appropriateness of the development of a European creditworthiness assessment of sovereign debt.

The European Commission is expected to submit a report to the European Parliament and to the Council by 31 December 2014.

Related documents

Press release

Technical advice

Risk Management: Agencies finalize technical correction of risk-based capital rules

Created
Thursday, 17 July 2014

                                                                     16 July 2014

 

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) announced the finalization of a technical correction of the definition of "eligible guarantee" in the agencies' risk-based capital rules.

The final rule is effective October 1, 2014.

 

Related documents

Press release

Final Rule

CRD IV: EBA publishes revised guidelines on high earners data collection and remuneration benchmarking

Created
Thursday, 17 July 2014

                                                                     16 July 2014

 

The EBA published revised Guidelines on (i) the data collection exercise regarding high earners and (ii) on the remuneration benchmarking exercise. The update ensures that the data collection is in line with the amended provisions laid down in the Capital Requirements Directive (CRD IV), which provides for higher quality of the collected data and will increase transparency of remuneration paid to high earners.

Related documents

Press release

Guidelines on remuneration benchmarking

Guidelines on high earners data collection

Banking Union: ECB publishes disclosure process for comprehensive assessment

Created
Thursday, 17 July 2014

                                                                     17 July 2014

 

The ECB presented the process for interacting with banks and communicating the results of its on-going comprehensive assessment of 128 banks.

The comprehensive assessment results will be published in the second half of October, after having been endorsed by the ECB. Banks will be informed of the full and final results only shortly before they are communicated to the markets. In the run-up to this final disclosure, the ECB and the national competent authorities (NCAs) will discuss partial and preliminary findings with individual banks in what is known as a supervisory dialogue, checking data and facts, and discussing methodological issues.

Related documents

Press release

Comprehensive assessment

IstEin & ABI Country Risk Forum

Created
Thursday, 17 July 2014

IstEin started a new collaboration with ABI to improve the contents of ABI Country Risk Forum website.

Click here for more details.

  • Last Update: Monday 28 July 2014, 15:12.
IstEin - Istituto Einaudi IstEin - Istituto Einaudi

Countdown to Single Supervisory Mechanism in EU

The establishment of the SSM on 4th November 2014 will be an important milestone towards a banking union in Europe.

97 Days

Link:
European Central Bank: Banking Supervision

Highlights (week 03 - 09 July)

Highlights (week 26 June - 02 July)