UPDATED – Agenda: Meeting of the CETA Financial Services Committee (12 June 2019)

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Press Release: EBA will clarify the prudential treatment applicable to own funds instruments at the end of the grandfathering period expiring on 31 December 2021

The European Banking Authority (EBA) announced today its intention to provide clarity on the appropriate treatment of the so-called ‘legacy instruments’ at the end of 2021, when the benefits of the grandfathering period will expire. The aim of the clarification is to preserve a consistent and high quality capital base for EU institutions under the CRR.

Letter from Andrea Enria, Chair of the Supervisory Board, to Ms Donato, Mr Rinaldi, Mr Zanni, MEPs, on a bank under ECB supervision

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Publication: Scope of application of the Basel Framework

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UPDATED – Report from the Commission to the European Parliament and the Council on the Guarantee Fund for External Action and its Management in 2018

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Question for Written Answer: Deutsche Bank

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UPDATED: Decision of the ECB of 26 July 2019 on the procedure and conditions for exercise by a competent authority of certain powers in relation to oversight of systemically important payment systems (ECB/2019/25)

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UPDATED – Official Journal (C Series): Publication in accordance with Article 6 of Directive 2001/24/EC of the European Parliament and of the Council on the reorganisation and winding-up of credit institutions

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Press Release: EBA publishes the first of three opinions on the implementation of the Deposit Guarantee Schemes Directive

The European Banking Authority (EBA) published today an opinion on the implementation of the Deposit Guarantee Schemes Directive (DGSD) in the EU. It proposes a number of changes aimed at strengthening depositor protection, enhancing financial stability and improving operational effectiveness. Two other opinions are forthcoming later in 2019.

Press Release: EBA advises the European Commission on the implementation of the final Basel III framework

The European Banking Authority (EBA) published today its advice on the implementation of Basel III in the EU, which includes a quantitative analysis of the estimated impact based on data from 189 banks, and a set of policy recommendations. This work responds to a Commission’s call for advice. The impact assessment shows that the full implementation of Basel III, under conservative assumptions, will increase the minimum capital requirement (MRC) by 24.4% on average. This increase in capital requirements will imply an aggregate shortfall in total capital of about EUR 135.1 billion (EUR 91.1 billion in terms of common equity tier 1, CET1). The majority of the capital impact occurs in large globally active banks, while the impact on medium-sized banks is limited to 11.3% in terms of MRC, leading to a shortfall of EUR 0.9 billion, and on small banks to 5.5% MRC with a EUR 0.1 billion shortfall. The EBA supports the full implementation of the final Basel III standards, which will contribute to the credibility of the EU banking sector and ensure a well-functioning global banking market.

Opinion of the European Banking Authority on measures in accordance with Article 458 Regulation (EU) No 575/2013

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Official Journal (L Series): Commission Implementing Regulation (EU) 2019/1285 of 30 July 2019 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 June 2019 until 29 September 2019 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance

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Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions – Equivalence in the area of financial services

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Press Release:Update on the Change of Financial Market Data Provider for the calculation of Solvency II Risk-Free Interest Rate Term Structures

The European Insurance and Occupational Pensions Authority (EIOPA) is publishing the list of Reuters Instrument Codes (RICs) of financial market data for the calculation of the technical information relating to the risk-free interest rates (RFR) term structures, namely of the following rates: Interest rate swap rates, Zero coupon government bond interest rates, Inter-bank offered rates, Overnight indexed swap rates and Additional data necessary for the calculation of the volatility adjustment.

Official Journal (L Series): Decisions of the EEA Joint Committees

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Official Journal (C Series): Special Report No 10/2019 EU-wide stress tests for banks: unparalleled amount of information on banks provided but greater coordination and focus on risks needed

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Press Release: EBA publishes report on progress made on its roadmap to repair IRB models

The European Banking Authority (EBA) published today a progress report on the roadmap set out in 2016 to repair internal models used to calculate own funds requirements for credit risk under the Internal Ratings Based (IRB) approach. The roadmap aims to address the concerns about undue variability of own funds requirements and to restore trust in IRB models by ensuring comparability of the estimates of risk parameters, while retaining their risk sensitivity. This report marks the finalisation of the IRB regulatory review and provides clarity on the next steps.

Press Release: Profitability challenges the sector, asset quality still improving but requires constant monitoring

The European Banking Authority (EBA) published today its Risk Dashboard, which summarises the main risks and vulnerabilities in the EU/EEA banking sector. The Risk Dashboard includes for the first time IFRS 9 related data on asset quality and banks’ fair valued positions, as well as information about their sovereign exposures. Together with the Risk Dashboard, the EBA published the results of its Risk Assessment Questionnaire (RAQ), which includes banks’ and market analysts’ expectations for future trends and developments.

Press Release: EBA Basel assessment sees impact driven by large banks

The European Banking Authority (EBA) presented today, during a public hearing, the results of its Basel III implementation assessment, which includes a quantitative impact study (QIS) based on data from 189 EU banks, and a comprehensive set of policy recommendations in the area of credit and operational risk, output floor and securities financing transactions. This work, which responds to a Commission’s call for advice, shows that the full implementation of Basel III in the EU, under the most conservative assumptions, increases the weighted average minimum capital requirement (MRC) by 24.4%, leading to an aggregate capital shortfall of EUR 135.1 bn. Importantly, the capital impact is almost entirely driven by large globally active banks. The impact on medium-sized banks is limited to 11.3% in terms of MRC, leading to a shortfall of EUR 0.9 bn, and on small banks to 5.5% MRC with a EUR 0.1 bn shortfall. The EBA will publish the full report by the end of July.

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