Today, the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of October 2019.
The private sector working group on euro risk-free rates has published a report with recommendations, from an accounting perspective, on the transition to new risk-free rates. The report focuses on the implications for International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) as the most widely used reporting frameworks in Europe.
The European Banking Authority (EBA) published today two reports, which monitor the impact of implementing the final Basel III reforms and the current implementation of liquidity measures in the EU. The EBA Basel III capital monitoring report is the latest in a regular exercise using the methodology of the Basel Committee of Banking Supervision and is not comparable to the broader Call for Advice report published in July 2019. The present report includes an assessment of the impact of the full implementation (to 2027) of the Basel III package on EU banks based on data as of 30 June 2018. The report on liquidity measures evaluates the liquidity coverage requirements currently in place in the EU. Overall, the EBA estimates that the Basel III reforms, once fully implemented, would determine an average increase by 19.3% of EU banks’ Tier 1 minimum required capital. The liquidity coverage ratio (LCR), which was fully implemented in January 2018, stood at around 149% on average in June 2018, well above the minimum threshold of 100%.
The European Commission Directorate-General for International Cooperation and Development (DEVCO) is organising DEVCO Environment and Climate Week 2020to bring together colleagues from EU Delegations, headquarters and specialised organisations to discuss the latest environmental and policy developments and to explore how to strengthen the environmental and climate dimension of EU cooperation. In the course of thematic sessions featuring high-level speakers, training sessions and networking events, participants will have the opportunity to strengthen their capacity to promote environmental sustainability and climate resilience through policy dialogue, programming and investments.
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.
Update – the transcript of the public hearing is now available.
This note is prepared in view of a public hearing with the Chair of the Single Resolution Board (SRB), Elke König who will inter alia present the SRB 2018 Annual Report.
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.
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of July 2019.
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.
Working Paper SeriesNo 99 / August 2019