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Prudential Regulation: EBA publishes Guidelines on the applicable notional discount rate for variable remuneration

Created
Friday, 28 March 2014

                                                          27 March 2014

 

The EBA published its final Guidelines for the calculation of the discount rate for variable remuneration and clarifying how it should be applied. These Guidelines will support EU Member States in the calculation of the ratio between the variable and fixed component of total remuneration and refer to services or performances provided from 2014 onwards.

Related documents

Press release

Guidelines

Prudential Regulation: EBA publishes final draft Technical Standards on additional collateral outflows

Created
Friday, 28 March 2014

                                                          27 March 2014

 

The EBA published its final draft Regulatory Technical Standards (RTS) on own funds (Part IV) aimed at setting harmonised criteria for instruments with multiple distributions that would create a disproportionate drag on capital, as well as clarifying the meaning of preferential distributions. In this particular area of own funds, the EBA's mandate is twofold: one is related to multiple distributions and the other one to preferential distributions, which have been considered separately for joint-stock companies and non-joint stock companies.

Related documents

Press release

RTS on Own Funds (part 4)

The final standards have been sent to the European Commission for their adoption as EU Regulations that will be directly applicable throughout the EU.

Prudential regulation: EBA publishes final draft Implementing and Regulatory Technical Standards

Created
Friday, 28 March 2014

                                                          28 March 2014

 

The EBA published its final draft Implementing and Regulatory Technical Standards (ITS and RTS) related to liquidity requirements. The package includes: (i) final draft ITS on currencies for which the justified demand for liquid assets exceeds their availability; (ii) final draft RTS on derogations for eligible currencies; and (iii) final draft ITS listing the currencies with an extremely narrow definition of central bank eligibility.

Related documents

Press release

ITS on currencies with liquid assets shortage

ITS on extremely narrow CB eligibility

RTS on derogations for currencies with constraints

Next step

The final standards have been sent to the European Commission for their adoption as EU Regulations that will be directly applicable throughout the EU.

Single Resolution Mechanism: Coreper approves deal with EP

Created
Friday, 28 March 2014

                                                          25 March 2014

 

The Permanent Representatives Committee approved, on behalf of the Council, a compromise agreed with the European Parliament on a regulation establishing a single resolution mechanism for failing banks.

This enables the Parliament to approve the text at first reading before it adjourns for elections in May. The Council plans to subsequently adopt the regulation without further discussion.

Related document

Council press release

Basel III monitoring: BCBS publishes updated versions of BCBS’s instructions

Created
Friday, 28 March 2014

                                                              25 Mar 2014

 

The BCBS published updated versions of BCBS’s instructions for Basel III monitoring and of frequently asked questions.

Related documents

Instructions for Basel III monitoring

FAQs

                                                        

 


Commission roadmap to meet the long-term financing needs of the EU economy

Created
Thursday, 27 March 2014

The European Commission adopted a package of measures to stimulate new and different ways of unlocking long-term financing and support Europe's return to sustainable economic growth.

The communication on long-term financing presents a set of specific actions which the Commission will take to improve long-term financing of the European economy.

The actions can be grouped around six main areas:

1. Mobilising private sources of long term financing.

2. Making better use of public funding.

3. Developing European capital markets.

4. Improving SMEs' access to financing.

5. Attracting private finance to infrastructure to deliver on Europe 2020.

6. Enhancing the wider framework for sustainable finance.

Related documents

Press release

Communication on long term financing of the European economy

FAQs on long term financing of the European economy

Communication on crowdfunding

FAQs on crowdfunding

CFTC issues no-action letter extending time-limited relief with respect to Swaps Trading on Certain Multilateral Trading Facilities overseen by competent authorities designated by European Union Member States

Created
Wednesday, 26 March 2014

 

                                                          21 March 2014

 

CFTC issued no-action letter extending time-limited relief with respect to Swaps Trading on Certain Multilateral Trading Facilities overseen by competent authorities designated by European Union Member States.

 

Related documents

 

Press release

 

">Letter

 

News & articles

 

U.S. swaps regulator gives EU firms more time to meet rules (Reuters)

 

Transparency Directive: ESMA launches a consultation on draft Regulatory Technical Standards

Created
Wednesday, 26 March 2014

                                                          21 March 2014

 

The ESMA launched a consultation on draft Regulatory Technical Standards (RTS) under the revised Transparency Directive relating to the notification of major shareholdings and the indicative list of financial instruments subject to notification requirements.

The consultation runs until 30 May 2014.

Related documents

Press release

Consultation paper

Payment System: Regulation on migration to SEPA published in the O.J.

Created
Wednesday, 26 March 2014

                                                          20 March 2014

 

Regulation (EU) No 248/2014 amending Regulation (EU) No 260/2012 as regards the migration to Union-wide credit transfers and direct debits has been published in the Official Journal of the EU.

Payment service providers may continue, until 1 August 2014, to process payment transactions in euro in formats that are different from those required for credit transfers and direct debits.

This Regulation entered into force on 21 March 2014.

Related document

Regulation

Market Infrastructure Regulation: Commission Delegated Regulation published in the Official Journal

Created
Wednesday, 26 March 2014

                                                          21 March 2014

 

Commission Delegated Regulation (EU) No 285/2014 supplementing Regulation (EU) No 648/2012 with regard to regulatory technical standards on direct, substantial and foreseeable effect of contracts within the Union and to prevent the evasion of rules and obligation has been published in the Official Journal of the EU.

This Regulation shall enter into force on 10 April 2014.

Related document

Commission Delegated Regulation

 


Alternative Investment Fund Managers: ESMA publishes Q&A

Created
Wednesday, 26 March 2014

                                                          25 March 2014

 

The ESMA published Questions and Answers on application of the AIFMD.

Related document

Q&A

Reporting: EBA consults on a revised XBRL Taxonomy for supervisory reporting

Created
Monday, 24 March 2014

                                                          21 March 2014

 

The EBA launched a consultation on a revised version of its XBRL Taxonomy for supervisory reporting, which incorporates additional reporting requirements for asset encumbrance, non-performing exposures and forbearance. This consultation aims at ensuring that the data national competent authorities collect from credit institutions and investment firms is transmitted to the EBA in a uniform and consistent manner.

The consultation runs until 14 April 2014.

Related document

Consultation page

Financial Market: ESMA publishes final report on revision of guidelines ETFs and other UCITS issues

Created
Monday, 24 March 2014

The ESMA published final report on revision of the provisions on diversification of collateral in ESMA’s Guidelines on Exchange-Traded Fund and other UCITS issues.

ESMA also published updated Questions and Answers.

Related documents

Press release

Final report

Q & A

EMIR: ESMA publishes Q & A

Created
Thursday, 20 March 2014

                                                          20 March 2014

 

The ESMA published updated Q & A on implementation of the Regulation (EU) N. 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR).

Related document

Questions and Answers

Central Securities Depositories: ESMA publishes discussion paper

Created
Thursday, 20 March 2014

                                                          20 March 2014

 

The ESMA launched discussion on possible content to draft technical standards on matters such as settlement discipline, CSD registration and requirements, including confirmation rules (acceptance or rejection of terms in good time before the intended settlement date) for trading venues and investment firms, as well as access to CSDs by other CSDs, participants and other market infrastructures.

Consultation runs until 22 May 2014.

Related documents

Press release

Discussion paper

Payment system: Parliament and Council agree on basic bank accounts for all

Created
Thursday, 20 March 2014

                                                          20 March 2014

 

The Hellenic Presidency reached a provisional agreement with representatives of the European Parliament on the basic bank accounts. Anyone legally residing in the EU should have the right to open a basic payment account, and this right should not be denied on grounds of nationality or place of residence.

Related document

ECON press release

Next step

EP: Vote in plenary in April

Single Resolution Mechanism: EP and Council back Commission's proposal

Created
Thursday, 20 March 2014

                                                          20 March 2014

 

The Hellenic Presidency reached a provisional agreement with representatives of the European Parliament on the Single Resolution Mechanism regulation. The elements agreed will help to ensure that the system cannot become a hostage to political power games and can deliver swift and credible decisions.

Related documents

ECON press release

Statement by EC

Statement by Minister Yannis Stournaras

Next step

EP: Vote in plenary in April

The SRM would enter into force on 1 January 2015, whereas bail-in and resolution functions would apply from 1 January 2016, as specified under the Bank Recovery and Resolution Directive.

FCA and Bank of England agrees Memorandum of Understanding for supervision of markets and market infrastructure

Created
Wednesday, 19 March 2014

                                                          17 March 2014

 

The Financial Conduct Authority and the Bank of England, including the Prudential Regulation Authority, agreed a Memorandum of Understanding (MoU) that sets out how they co-operate with one another in relation to the supervision of markets and market infrastructure, which includes financial market infrastructures.

 

Related documents

Press release

MoU

Banking Matters: Barnier and Nouy talk banking union and bank bonuses with MEPs

Created
Wednesday, 19 March 2014

                                                          18 March 2014

 

EC Commissioner M. Barnier and ECB bank supervisor chair D. Nouy told banking union and bank bonuses with Economic and Monetary Affairs Committee.

Related document

Press release

News & articles

ECB supervisory Nouy rejects EU 'split' over banking union (BBC)

Barnier risks lawmaker backlash over EU bonus-curb loopholes (Bloomberg Businessweek)

BCBS agrees that supervisors may allow banks to apply a 0% risk weight to claims on ESM and ESFS

Created
Wednesday, 19 March 2014

                                                          18 March 2014

 

The Basel Committee on Banking Supervision agreed that supervisors may allow banks to apply a 0% risk weight to claims on the European Stability Mechanism and European Financial Stability Facility.

Related document

Press release

  • Last Update: Wednesday 16 April 2014, 16:49.
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