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Latest news of financial regulation

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Bank Recovery and Resolution: EBA consults on tests, reviews and exercises that may lead to public support measures

Created
Thursday, 10 July 2014

                                                                     09 July 2014

 

The EBA launched a consultation on its draft Guidelines specifying the type of tests, review or exercises that may lead to extraordinary public support measures for institutions. One of the overarching objectives of the Bank Recovery and Resolution Directive (BRRD) is to avoid, as far as possible, resorting to taxpayers' funds when dealing with unsound or failing credit institutions and investment firms. With this in mind, the BRRD sets out a harmonised regulatory framework for resolving institutions at EU level and establishes that resolution should be primarily and almost exclusively financed by private resources.

The consultation runs until 9 August 2014.

Related documents

Press release

Consultation paper

The Council takes note of the presentation by the Italian presidency of a work programme

Created
Wednesday, 09 July 2014

                                                                     08 July 2014

 

The Council took note of the presentation by the Italian presidency of a work programme on economic and financial matters for the duration of its term, which runs from July to December 2014.

Related document

Ecofin press release

Market Abuse: Securities and Markets Stakeholder Group publishes an opinion on ESMA’s discussion paper

Created
Wednesday, 09 July 2014

                                                                     07 July 2014

 

Securities and Markets Stakeholder Group published an opinion to ESMA on its Discussion Paper on policy orientations on possible implementing measures under the Market Abuse Regulation.

Related document

Opinion

Bank Capital Requirements: EBA publishes new XBRL taxonomy for remittance of supervisory reporting as of 30 September 2014

Created
Wednesday, 09 July 2014

                                                                     08 July 2014

 

The EBA published an XBRL taxonomy to be used by competent authorities for remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting. It presents the data items, business concepts, relations, visualisations and validation rules described by the EBA Data Point Model (DPM) contained in the ITS on supervisory reporting, including the amendments relating to asset encumbrance, forbearance and non-performing exposures. The taxonomy proposed by the EBA will lead to greater efficiency in and convergence of supervisory practices across Members States. The reference date is as of 30 September 2014 onwards and it includes the first reports under FINREP.

Related documents

Press release

Data point model

Banking Regulation: PRA and FCA publish review of barriers to entry for new banks

Created
Monday, 07 July 2014

                                                                     07 July 2014

 

The PRA and FCA published a review of the changes introduced last year which were put in place to reduce the barriers to entry for new financial institutions. The review shows that the changes introduced last year have led to a number of positive developments. In the twelve months following the changes, the PRA authorised five new banks and there has been a substantial increase in the number of firms discussing the possibility of becoming a bank with the regulators.

Related documents

Press release

Review

Capital Requirements: EBA publishes final draft technical standards on the margin periods of risk for the treatment of clearing members exposures to clients

Created
Monday, 07 July 2014

                                                                     04 July 2014

 

The EBA published its final draft Regulatory Technical Standards (RTS) specifying the minimum margin periods of risk (MPOR) that institutions acting as clearing members may use for the calculation of their capital requirements for exposures to clients. In order to incentivise the use of central counterparties (CCPs), and in line with the international standards that amended the Basel II text, the Capital Requirements Regulation (CRR) introduces a special treatment for centrally cleared derivatives. These draft RTS do not deal with institutions' exposures to central counterparties (CCPs).

Related documents

Press release

Final draft RTS on Margin Periods of Risk

Capital Requirements: EBA publishes final draft RTS on conditions for assessing materiality of extensions and changes of internal approaches for market risk

Created
Monday, 07 July 2014

                                                                     07 July 2014

 

The EBA published its final Regulatory Technical Standards (RTS) specifying the conditions for assessing the materiality of extensions and changes of the Internal Models Approach (IMA) for market risk. According to the Capital Requirements Regulation, all institutions shall apply for permission whenever they intend to implement any material extension or change to their internal approaches for credit, market and operational risk.

In this respect, the proposed RTS harmonise the assessment of the materiality of extensions and changes to internal approaches, and ensure that approved internal approaches comply with the regulatory requirements.

Related documents

Press release

Final draft RTS on market risk model extensions and changes

Capital Requirements: EBA consults on a framework for common supervisory procedures and methodologies

Created
Monday, 07 July 2014

                                                                     07 July 2014

 

The EBA launched a consultation on its draft Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP). The guidelines hinge on four main components: (i) business model analysis; (ii) assessment of internal governance; (iii) assessment of risks to capital and adequacy of capital; (iv) assessment of risks to liquidity and adequacy of liquidity. The assessment will be summarised in a common scoring and will lead to a consistency in setting supervisory requirements to hold additional capital and liquidity resources as needed.

The consultation runs until 7 October 2014.

Related documents

Press release

Consultation paper

Capital Requirements: EBA publishes final guidelines on significant credit risk transfer for securitisation transactions

Created
Monday, 07 July 2014

                                                                     07 July 2014

 

The EBA published a final set of Guidelines that will support both originator institutions and competent authorities in the assessment of significant risk transfer (SRT) for securitisation transactions. The EBA recognizes that securitisation in a well-defined prudential framework is beneficial to banks and is a key funding tool for the real economy. Furthermore, it is a useful tool to achieve credit risk transfer and risk-sharing in the financial system and to support the current deleveraging and de-risking process of EU banks without inducing an excessive contraction in the real economy.

The EBA will provide advice to the European Commission by 31 December 2017 on whether a binding technical standard is required on SRT.

Related documents

Press release

Guidelines

Consumer protection and financial innovation: EBA proposes potential regulatory regime for virtual currencies

Created
Friday, 04 July 2014

                                                                     04 July 2014

 

The EBA published an opinion addressed to the EU Council, European Commission and European Parliament setting out the requirements that would be needed to regulate ‘virtual currencies'. The Opinion is also addressed to national supervisory authorities and advises to discourage financial institutions from buying, holding or selling virtual currencies while no regulatory regime is in place.

 

Related documents

Press release

Opinion

Financial supervision: The FSB announces the launch of a peer review on supervisory frameworks and approaches to SIFIs

Created
Friday, 04 July 2014

                                                                     04 July 2014

 

The FSB announces the launch of a peer review on supervisory frameworks and approaches to SIFIs. The review will draw from responses to two questionnaires: one for national supervisory authorities and one for a representative sample of G-SIBs.

Related document

Thematic Peer Review on Supervisory Frameworks and Approaches to SIFIs

Bank Capital Requirements: EBA advises on the prudential filter for gains and losses from own credit risk related to derivatives

Created
Thursday, 03 July 2014

                                                                     03 July 2014

 

The EBA launched a public consultation on standards on colleges of supervisors and on standards on joint decisions on approval of internal models. The technical standards on colleges detail supervisory activities performed by colleges in going concern and emergency situations, while the ITS on joint decisions relate to the approval of internal models and detail the processes to be followed by competent authorities when reaching joint decisions.

The consultations run until 3 October 2014.

Related documents

Press release

Consultation paper N. 12

Consultation paper N. 13

Bank Capital Requirements: EBA consults on technical standards on home host cooperation in the EU banking sector

Created
Thursday, 03 July 2014

                                                                     02 July 2014

 

The EBA published its technical advice to the European Commission on the use of a prudential filter for gains and losses arising from banks' own credit risk of derivatives. The Authority considers as appropriate not to deviate from the current prudential approach applied at the international level under the Basel III rules, i.e. full deduction of institutions' own credit risk of derivatives. The work of the EBA will inform the work of the EU Commission on the topic.

Related documents

Press release

Technical advice

Bank Capital Requirements: EBA publishes lists for the calculation of capital requirements for credit risk

Created
Thursday, 03 July 2014

                                                                     02 July 2014

 

The EBA published a series of lists in the field of credit risk, in accordance with the EU Capital Requirements Regulation (CRR). These lists will assist EU institutions in the determination of their capital requirements for credit risk.

Related document

Press release

Bank Capital Requirements: ESRB publishes recommendation on guidance for setting countercyclical buffer rates

Created
Wednesday, 02 July 2014

                                                                    30 June 2014

 

The ESRB published a recommendation on guidance to EU Member States for setting countercyclical buffer rates. The guidance, which was approved at the 18 June 2014 meeting of the ESRB General Board, is required under EU legislation. It serves the purpose of establishing a common approach to setting the countercyclical capital buffer across Europe.

The ESRB also published an occasional paper which presents the analysis underpinning the ESRB recommendation on guidance on setting countercyclical buffer rates.

Related documents

Press release

Recommendation

Occasional paper

The EP Committee on Economic and Monetary Affairs (ECON) publishes a systematic overview of main economic and financial services legislation

Created
Wednesday, 02 July 2014

                                                                     02 July 2014

 

The EP Committee on Economic and Monetary Affairs (ECON) published a systematic overview of main economic and financial services legislation.

It consists primarily of 14 policy areas relevant for ECON, listed in accordance with ECON's competences (banking, securities markets and investment firms, market infrastructure, insurance and occupational pensions, payment services, consumer protection in financial services, the European System of Financial Supervision, Monetary Union, competition, taxation) but extends to some other areas which have a bearing on ECON topics, too (e.g. commerce and company law, accounting/auditing, data and consumer protection).

Related document

EU mapping

 

European Court of Auditors publishes report on European banking supervision

Created
Wednesday, 02 July 2014

                                                                     02 July 2014

 

A report published by the European Court of Auditors reveals that the Commission’s reform of banking sector legislation and the creation of the European Banking Authority were important first steps in response to the financial crisis. The European Banking Authority has provided the elements of a new regulatory and supervisory system for the banking sector, taking into account its resources and limited legal powers. However, shortcomings were identified in cross-border banking supervision, the assessment of the resilience of EU banks, and the promotion of consumer protection.

Related document

Press release

Report

Statement by EC Commissioner M. Barnier

ESMA publishes retail investor guide to MiFID II

Created
Tuesday, 01 July 2014

                                                                     01 July 2014

 

The ESMA published a short guide for retail investors explaining the impact of the changes to be made in investor protection under the MiFID II reform. It highlights some of the more important changes taking place to MiFID which may be most relevant to retail investors.

Related document

Enhanced protection for retail investors: MiFID II and MiFIR

Liquidity risk: EBA publishes guidelines on harmonised definitions and templates for funding plans of credit institutions

Created
Tuesday, 01 July 2014

                                                                    30 June 2014

 

The EBA published its final Guidelines on harmonised definitions and templates for funding plans of credit institutions. These Guidelines aim at harmonising reporting of funding plans across the EU. This set of common templates and definitions provides a tool for competent authorities to assess the feasibility, viability and soundness of funding plans, as well as their impact on the supply of credit to the real economy.

Related documents

Press release

Guidelines

Bank Capital Requirements: EBA supports capital treatment of covered bonds, but calls for additional eligibility criteria

Created
Tuesday, 01 July 2014

                                                                     01 July 2014

 

The EBA published an opinion on the preferential capital treatment of covered bonds and a detailed report on the European covered bonds frameworks. EBA recommends additional criteria to qualify for preferential treatment. The opinion also calls for further clarifications on current disclosure requirements and provides advice on the preferential treatment of some specific cover assets. EBA has identified a series of best practices ensuring a robust and consistent regulatory framework for covered bonds.

Related documents

Press release

Report

  • Last Update: Thursday 31 July 2014, 17:20.
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.

94 Days

Link:
European Central Bank: Banking Supervision

Highlights (week 03 - 09 July)