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EBA consults on conditions for capital requirements for mortgage exposures

Created
Tuesday, 07 July 2015

                                                                   06 July 2015

 

The European Banking Authority (EBA) launched a consultation on regulatory technical standards (RTS) on the conditions that Competent Authorities have to take into account when tightening capital requirements for mortgage exposures. The proposed RTS illustrate the conditions, as well as financial stability considerations, that would ensure a harmonised approach in setting higher risk weights and higher minimum loss given default (LGD) values.

The consultation runs until 6 October 2015.

Related documents

Press release

Consultation paper

EBA publishes technical standards on independent valuers

Created
Tuesday, 07 July 2015

                                                                   06 July 2015

 

The European Banking Authority (EBA) published its final draft regulatory technical standards (RTS) setting out the general criteria against which valuers should be assessed to determine whether they comply with the legal requirement of independence for the purposes of performing valuation tasks under the Bank Recovery and Resolution Directive (BRRD).

 

Related documents

Press release

Final Draft RTS

Prudential Regulation Authority announces changes to depositor and policyholder protection

Created
Monday, 06 July 2015

                                                                   03 July 2015

 

The Prudential Regulation Authority (PRA) announced changes to depositor and policyholder protection provided by the Financial Services Compensation Scheme (FSCS). For the majority of depositors currently covered by the FSCS, the existing level of deposit protection (£85,000) will be maintained for six months before changing to £75,000 after 31 December 2015. The PRA is required by the European Deposit Guarantee Schemes Directive to recalculate the FSCS deposit protection limit every five years and set it at a sterling amount equivalent to EUR 100,000. The process and timing is specified by the Directive and is not at the PRA’s discretion. The Directive also extends deposit protection to some categories of depositors that were not previously protected by the FSCS, such as large corporates. 

Related documents

Press release

Depositor and dormant account protection - the protection limit

Depositor and policyholder protection – technical amendments

Depositor and dormant account protection - consequential amendments

Depositor and dormant account protection

Statement of Policy – Deposit Guarantee Scheme UPDATE

 

The Prudential Regulation Authority (PRA) announced changes to depositor and policyholder protection provided by the Financial Services Compensation Scheme (FSCS). For the majority of depositors currently covered by the FSCS, the existing level of deposit protection (£85,000) will be maintained for six months before changing to £75,000 after 31 December 2015. The PRA is required by the European Deposit Guarantee Schemes Directive to recalculate the FSCS deposit protection limit every five years and set it at a sterling amount equivalent to EUR 100,000. The process and timing is specified by the Directive and is not at the PRA’s discretion. The Directive also extends deposit protection to some categories of depositors that were not previously protected by the FSCS, such as large corporates. 

Related documents

Press release

Depositor and dormant account protection - the protection limit

Depositor and policyholder protection – technical amendments

Depositor and dormant account protection - consequential amendments

Depositor and dormant account protection

Statement of Policy – Deposit Guarantee Scheme UPDATE

 

EBA supports the proposed amendments to the RTS specifying the derogations for currencies with constraints on the availability of liquid assets

Created
Monday, 06 July 2015

                                                                  03 July 2015

 

The EBA issued an opinion to the European Commission supporting its proposed amendments to the EBA final draft Regulatory Technical Standards (RTS) submitted to on 27 March 2014, which specifies the derogations concerning currencies featuring constraints on the availability of liquid assets.

 

 

Related documents

Press release

Opinion

EBA publishes final technical standards to ensure effective resolution under the BRRD

Created
Monday, 06 July 2015

                                                                   03 July 2015

 

The EBA published its final draft Regulatory Technical Standards (RTS) on the Minimum Requirement for Own Funds and Eligible Liabilities (MREL), and on the contractual recognition of bail-in. These standards are part of the EBA's major programme of work to implement the BRRD and address the problem of too-big-to-fail banks. The first set of standards on MREL ensure that institutions have adequate loss absorbing capacity; the second set of standards aims to ensure the cross-border effectiveness of the bail-in power.

Related documents

Press release

Final draft RTS on MREL Criteria

Final draft RTS on Contractual Recognition of Bail-in

EBA defines functioning of EU banking resolution colleges

Created
Monday, 06 July 2015

                                                                   03 July 2015

 

The EBA published its final draft Regulatory Technical Standards (RTS) that specify the operational functioning of the resolution colleges established for those groups that operate on a cross-border basis in the European Economic Area (EEA). These RTS have been developed within the framework established by the EU Bank Recovery and Resolution Directive (the BRRD) and specify how resolution colleges should function, from their establishment, going concern function and resolution planning, to situations of cross-border resolution.

Related documents

Press release

Final draft RTS

EBA issues final standards on processes for notifying that a banking institution is failing

Created
Monday, 06 July 2015

                                                                   03 July 2015

 

The European Banking Authority (EBA) published its final draft regulatory technical standards (RTS) on notifications and notice of suspension. These RTS have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) and aim at harmonising at EU level the process and content of notifications, as well as the notice of suspension, to be followed when a banking institutions operating in the EU is failing or likely to fail.

Related documents

Press release

Final draft RTS

SEC proposes rules requiring companies to adopt clawback policies on executive compensation

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

The Securities and Exchange Commission (SEC) proposed rules directing national securities exchanges and associations to establish listing standards requiring companies to adopt policies that require executive officers to pay back incentive-based compensation that they were awarded erroneously. 

With this proposal, the Commission has completed proposals on all executive compensation rules required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The comment period for the proposed rules will be 60 days after publication in the Federal Register.

Related documents

Press release

Proposed rule

Federal Reserve Board releases first determination of the aggregate consolidated liabilities of all financial companies in accordance with section 622 of the Dodd-Frank Act

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

The Federal Reserve Board (FED) released its first determination of the aggregate consolidated liabilities of all financial companies in accordance with section 622 of the Dodd-Frank Act, which prohibits any financial company from combining with another company if the resulting company's liabilities exceed 10 percent of the aggregate consolidated liabilities of all financial companies.

Related documents

Press release

Determination

ESMA issues Q&A on anti-money laundering and investment-based crowdfunding platforms

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

The European Securities and Markets Authority (ESMA) issued questions and answers (Q&A) in order to promote the sound, effective and consistent application of rules on anti-money laundering and terrorist financing to investment-based crowdfunding platforms. The Q&A aims to promote common supervisory approaches and practices in the application of anti-money laundering rules to investment-based crowdfunding. It provides responses to questions posed by national competent authorities in the course of ESMA’s work on investment-based crowdfunding, drawing on expert input from the Joint Committee sub-committee on Anti-Money Laundering.

Related documents

Press release

Q&A

ESMA publishes draft RTS on prospectus related issues under the Omnibus II Directive

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

The European Securities and Markets Authority (ESMA) published the final report and draft regulatory technical standards on prospectus related issues under the Omnibus II Directive.

Related documents

Press release

Final report

ESMA issues its final report on interoperability arrangements for CCPs

Created
Thursday, 02 July 2015

                                                                   02 July 2015

 

The European Securities and Markets Authority (ESMA) issued its final report on interoperability arrangements between EU-based clearinghouses (CCPs) required under the European Markets Infrastructure Regulation (EMIR) and related Guidelines and Recommendations. In its report, ESMA recommends to extend the EMIR provisions related to interoperability arrangements to Exchange-Traded Derivatives (ETDs). A further extension to OTC derivatives will be assessed at a later stage.

Related documents

Press release

Final Report

FSB launches and invites feedback on its peer review on implementation of the FSB policy framework for shadow banking entities

Created
Thursday, 02 July 2015

                                                                   02 July 2015

 

The Financial Stability Board (FSB) launched a peer review on the implementation of its policy framework for financial stability risks posed by non-bank financial entities other than money market funds (“other shadow banking entities”). The objective of the review is to evaluate the progress made by FSB jurisdictions in implementing the overarching principles set out in the framework – in particular, to assess shadow banking entities based on economic functions, to adopt policy tools if necessary to mitigate any identified financial stability risks, and to participate in the FSB information-sharing process.

Related document

Press release

Peer review

BIS publishes a report on the impact and accountability of banking supervision

Created
Thursday, 02 July 2015

                                                                   02 July 2015

 

The Bank for International Settlements (BIS) published a report on the impact and accountability of banking supervision, which presents a range-of-practice study on how supervisors around the world define and evaluate the impact of their policies and actions, manage against that impact and then account for it to their external stakeholders.

 

Related documents

Press release

Report

publishes a review of the credit valuation adjustment (CVA) risk framework

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

The Bank for International Settlements (BIS) consulted on a review of the credit valuation adjustment (CVA) risk framework.

The objectives of the review are to (i) ensure that all important drivers of credit valuation adjustment (CVA) risk and CVA hedges are covered in the Basel regulatory capital standard; (ii) align the capital standard with the fair value measurement of CVA employed under various accounting regimes; and (iii) ensure consistency with the proposed revisions to the market risk framework under the Basel Committee'sFundamental review of the trading book.

The consultation will close on 1 October 2015.

Related documents

Press release

Consultative document

IAIS consults on Higher Loss Absorbency requirements for G-SIIs

Created
Thursday, 02 July 2015

                                                                  25 June 2015

 

The International Association of Insurance Supervisors (IAIS) published consultation document aimed at obtaining input regarding the development of the Higher Loss Absorbency (HLA) requirement to apply to Global Systemically Important Insurers (G-SIIs).

When the HLA is implemented G-SIIs will be expected to hold regulatory capital that is not less than the sum of the required capital amounts from the Basic Capital Requirements and the HLA.

The consultation will run until 21 August 2015.

Related documents

Press release

EIOPA publishes the overview of equivalence decisions taken by the European Commission

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

EIOPA published the overview of equivalence decisions taken by the European Commission. The Solvency II Directive recognises the fact that the insurance industry is a global industry.

To avoid unnecessary duplication of regulation, the European Commission may decide about the equivalence of a third country's solvency and prudential regime. Positive equivalence findings are mutually beneficial to European Economic Area (EEA) (re)insurers and third country (re)insurers. Moreover, equivalence findings promote open international insurance markets, whilst simultaneously ensuring that policy holders are adequately protected globally.

Related document

Overview

Suggesting reading

Solvency II Equivalence (Clifford Chance)

IOSCO seeks better understanding of other CRA products and services

Created
Thursday, 02 July 2015

                                                                   01 July 2015

 

The Board of the International Organization of Securities Commissions (IOSCO) approved a project specification for its Committee 6 on Credit Rating Agencies (C6) to gain a better understanding of the credit rating industry and in particular of certain other products or services.

Other CRA Products are distinguishable from the traditional credit ratings that CRAs publicly disclose or disseminate to subscribers. They may include, for example, private ratings, confidential ratings, expected ratings, indicative ratings, prospective ratings, provisional ratings, preliminary ratings.

Qualified parties should complete the questionnaire and return it to IOSCO by no later than 31 July 2015.

Related documents

Press release

 

Questionnaire

 

CFTC issues proposed rule on cross-border margin

Created
Tuesday, 30 June 2015

                                                                  30 June 2015

 

The U.S. Commodity Futures Trading Commission voted unanimously to propose a rule that would apply the Commission’s margin requirements for uncleared swaps in the context of cross-border transactions (Proposed Rule). The comment period ends 60 days after the publication in the Federal Register.

Related documents

Press release

Fact sheet

Proposed rule

ESMA publishes the final report on draft technical standards on MiFID II and MiFIR

Created
Tuesday, 30 June 2015

                                                                  30 June 2015

 

The ESMA published its final report on MiFID II - MiFIR (Markets in Financial Instruments Directive II package) draft RTS on authorisation, passporting, registration of third country firms and cooperation between competent authorities. This Final Report covers the majority of the draft Regulatory and Implementing TS on investor protection topics which ESMA is expected to develop. The remaining draft technical standards ESMA is mandated to develop under MiFID II and MiFIR will be published by the end of 2015.

The final report is submitted to the Commission for endorsement of the draft RTS and ITS. The European Commission has three months to endorse the standards.

Related document

Final report

  • Last Update: Friday 31 July 2015, 16:39.

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