Opinion on the sale and purchase of credit facilities (CON/2019/30), Cyprus, 16.8.2019.

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Publication: Frequently asked questions on the Basel III standardised approach for operational risk

The Basel Committee on Banking Supervision finalised the new standardised approach (SA) for operational risk capital, as published in the final Basel III standards in December 2017. To promote consistent global implementation of those requirements, the Committee has agreed to periodically review frequently asked questions (FAQs) and publish answers along with any technical elaboration of the standards text and interpretative guidance that may be necessary. 

Official Journal (L Series): Decision (EU) 2019/1348 of the European Central Bank of 18 July 2019 on the procedure for recognising non-euro area Member States as reporting Member States under Regulation (EU) 2016/867 on the collection of granular credit and credit risk data (ECB/2019/20)

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Press Release: The EBA updates data used for the identification of global systemically important institutions (G-SIIs)

The European Banking Authority (EBA) published today 12 indicators and updated the underlying data from the 36 largest institutions in the EU, whose leverage ratio exposure measure exceeds EUR 200 bn. This end-2018 data contributes to the internationally agreed basis on which a smaller subset of banks will be identified as global systemically important institutions (G-SIIs), following the final assessments from the Basel Committee on Banking Supervision (BCBS) and the Financial Stability Board (FSB). The EBA, acting as a central data hub in the disclosure process, will update this data on a yearly basis and will provide a user-friendly platform to aggregate it across the EU.

UPDATED – Press Release: ESMA consults on tiering, comparable compliance and fees under EMIR 2.2

Update – ESMA published the responses to the Consultation.

The European Securities and Markets Authority (ESMA) has today published three consultation papers under EMIR 2.2 on tiering, comparable compliance and fees. EMIR 2.2 amends EMIR’s regulatory and supervisory regime for central counterparties (CCPs).

Press Release: Financial services: Commission sets out its equivalence policy with non-EU countries

The European Commission is today taking stock of its overall approach to equivalence in the area of financial services. EU equivalence has become a significant tool in recent years, fostering integration of global financial markets and cooperation with third-country authorities. The EU assesses the overall policy context and to what extent the regulatory regimes of a given third country achieves the same outcomes as its own rules. A positive equivalence decision, which is a unilateral measure by the Commission, allows EU authorities to rely on third-country rules and supervision, allowing market participants from third countries who are active in the EU to comply with only one set of rules. Today’s Communication also sets out how recent updates to EU legislation will ensure even greater effectiveness of the EU single rulebook, supervision and monitoring, while also fostering cross-border business in global markets. The Commission has to date taken over 280 equivalence decisions with regard to over 30 countries. 

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: The EBA calls for communication to credit institutions about the relevance of AML/CFT concerns from a prudential perspective

The EBA published today an Opinion on the link between money laundering and terrorist financing concerns and prudential objectives. This Opinion forms part of the EBA’s ongoing work to strengthen the fight against money laundering and terrorist financing in Europe and responds to a request in the Council Anti Money Laundering Action Plan of 2018.

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

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Press Release: EBA amends implementing technical standards on supervisory reporting with regard to financial information (FINREP)

The European Banking Authority (EBA) published today amendments to the Implementing Technical standards (ITS) on supervisory reporting with regard to FINREP. The amendments concern the reporting requirements on non-performing exposures (NPE) and forbearance to allow monitoring of reporting institutions’ NPE strategies, the reporting requirements on profit and loss items and the implementation of the new International Financial Reporting Standard on leases (IFRS 16).

Question for written answer: Bailout of Banca Monte Paschi

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Press Release: EIOPA consults on increased proportionality of supervisory reporting and public disclosure

Today, the European Insurance and Occupational Pension Authority (EIOPA) launched a consultation package on supervisory reporting and public disclosure in the context of its work linked with the 2020 Solvency II Review. EIOPA will be consulting on the review of supervisory reporting and public disclosure in two waves. This consultation is the first wave to respond to the Call for Advice of the European Commission of 11 February 2019 on the part linked with supervisory reporting and public disclosure. 

Press Release: EBA reports on the monitoring of the LCR implementation in the EU

The European Banking Authority (EBA) published today its first Report on the monitoring of liquidity coverage ratio (LCR) implementation in the EU. The EBA’s monitoring of the LCR contributes to a consistent application of EU law and promotes common supervisory approaches and practices in this area. The EBA intends to regularly monitor the implementation of the LCR for EU banks and update this Report on an ongoing basis to set out its observations and provide further guidance, where necessary.

Official Journal (L Series): Directive (EU) 2019/1160 of the European Parliament and of the Council of 20 June 2019 amending Directives 2009/65/EC and 2011/61/EU with regard to cross-border distribution of collective investment undertakings

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Official Journal (L Series): Regulation (EU) 2019/1156 of the European Parliament and of the Council of 20 June 2019 on facilitating cross-border distribution of collective investment undertakings and amending Regulations (EU) No 345/2013, (EU) No 346/2013 and (EU) No 1286/2014

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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 welcomes publication by the European Court of Auditors of special report on the EU-wide stress test

The European Banking Authority welcomed today’s publication by the European Court of Auditors (ECA) of a special Report on the EU-wide stress test titled “EU-wide stress tests for banks: unparalleled amount of information on banks provided but greater coordination and focus on risks needed”. The EBA acknowledged the efforts made by the ECA in providing valuable insights to improve the efficiency of the EU-wide stress test in the future.

Press Release: EBA stress tests should focus more on EU-wide systemic risks, say Auditors

The latest bank stress test by the European Banking Authority (EBA) should have been more demanding in testing banks’ resilience to systemic risks across the EU, according to a new report by the European Court of Auditors. The simulated shocks were actually milder than those experienced during the 2008 financial crisis and the adverse scenario used did not appropriately reflect all relevant systemic risks to the EU financial system, say the auditors. In addition, when designing and carrying out the test, the EBA relied heavily on national supervisors, but lacked resources and could not oversee them effectively.

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