European Commission
16/06/2021
The Commission launches a targeted consultation on improving transparency and efficiency in secondary markets for non-performing loans The deadline for submitting responses is September 8, 2021. For further information, click here.
ECB
15/06/2021
ECB launches consultation on its revised guide to fit and proper assessments
For further information, click here.
BIS
10/06/2021
Basel Committee consults on prudential treatment of cryptoasset exposures
Basel Committee issues public consultation on preliminary proposals for the prudential treatment of banks' cryptoasset exposures. The proposals split cryptoassets into two broad groups: those eligible for treatment under the existing Basel framework with some modifications; and others, such as bitcoin, are subject to a new conservative prudential treatment. The Committee invites submissions on the proposals by September 10.
ESRB
07/06/2021
Adverse scenario for the ESMA 2021 EU-wide central counterparty stress test
EBA
EBA updates list of risk indicators and analysis tools
The European Banking Authority published an updated list of indicators for risk assessment and risk analysis tools, together with the accompanying methodological guide. This guidance, which describes how risk indicators are computed in EBA publications, allows competent authorities and users of EBA data to interpret key bank figures in a consistent fashion when conducting their risk assessments and analyses.
ESMA
ESMA launches 2021 Central Counterparties Stress Test
The European Securities and Markets Authority, the EU’s securities markets regulator, has published the framework for its fourth Stress Test for Central Counterparties (CCPs). ESMA, as required by the European Markets Infrastructure Regulation (EMIR), initiates and coordinates this exercise to assess the resilience and safety of recognized European Union (EU) and Tier 2 Third Country CCPs (TC-CCPs) to adverse market developments and to identify any potential shortcomings.
04/06/2021
EBA consults on technical standards on crowdfunding service providers
The European Banking Authority published a consultation paper on draft Regulatory Technical Standards (RTS), specifying the information that crowdfunding service providers offering individual portfolio management of loans shall provide to investors in relation to the method to assess credit risk, and on each individual portfolio. The draft Regulatory Technical Standards also specify the policies, procedures and organizational arrangements that crowdfunding service providers shall have in place in relation to any contingency fund they may offer to investors. The consultation runs until September 4, 2021.
EIOPA
03/06/2021
EIOPA issues guidelines on the supervisory reporting for the Pan-European Personal Pension Product
The European Insurance and Occupational Pensions Authority published the guidelines on the supervisory reporting regarding the Pan-European Personal Pension Product (PEPP) to ensure the common, uniform and consistent application of the PEPP regulation’s reporting requirements.
02/06/2021
EMIR: Commission specifies commercial terms for clearing services for OTC derivatives
The Commission has adopted the Delegated Regulation the EMIR Regulation (EU) No 648/2012.
FSB
FSB issues statements to support a smooth transition away from Libor by end 2021
The Financial Stability Board has published a set of documents to support a smooth transition away from Libor by the end of 2021. On March 5, 2021, ICE Benchmark Administration (IBA) and the UK Financial Conduct Authority (FCA) formally confirmed the dates that panel bank submissions for all Libor settings will cease, after which representative Libor rates will no longer be available. The majority of Libor panels will cease at the end of this year, although a number of key US dollar (USD) settings will continue until end-June 2023, to support the rundown of legacy contracts only.
31/05/2021
FSB seeks feedback on its proposals for quantitative targets for enhancing cross-border payments
The Financial Stability Board published a public consultation on global targets for addressing the four challenges of cross-border payments. The quantitative targets proposed are a foundational step in the G20 Roadmap for Enhancing Cross-border Payments, which was endorsed by G20 Leaders in November 2020.
For further information click here.
28/05/2021
EBA consults on institutions’ Pillar 3 disclosure of interest rate risk exposures
The European Banking Authority launched a public consultation on draft implementing technical standards (ITS) on Pillar 3 disclosures regarding exposures to interest rate risk on positions not held in the trading book (IRRBB). The draft ITS put forward comparable disclosures that would allow stakeholders to assess institutions’ IRRBB risk management framework as well as the sensitivity of institutions’ economic value of equity and net interest income to changes in interest rates. The proposed standards will amend the comprehensive ITS on institutions’ public disclosures, in line with the strategic objective of developing a single and comprehensive Pillar 3 package that should facilitate implementation by institutions and further promote market discipline.
ESMA consults on Guidelines for Data Transfer between Trade Repositories under EMIR and SFTR
The European Securities and Markets Authority launched a consultation on amendments to its Guidelines on Data Transfer between Trade Repositories (TRs) under EMIR, as well as on Guidelines regarding Data Transfer between TRs under SFTR.
ESMA updates its opinion on reporting information under the AIFMD
The European Securities and Markets Authority has updated the Opinion Collection of information for the effective monitoring of systemic risk under Article 24(5), first sub-paragraph, of the AIFMD, in the context of AIFMD reporting.
27/05/2021
EBA consults on new guidelines on cooperation and information exchange in the area of anti-money laundering and countering the financing of terrorism
The European Banking Authority launched a public consultation on its new guidelines that set out how prudential supervisors, AML/CFT supervisors and financial intelligence units (FIUs) should cooperate and exchange information in relation to AML/CFT, in line with provisions laid down in the Capital Requirements Directive (CRD). Cooperation and information exchange is key to ensuring the prudential soundness and viability of institutions, to protecting the EU’s financial system from financial crime and to safeguarding its stability and integrity. This consultation runs until August 27, 2021.
EBA shows good progress in the reduction of MREL shortfall for the largest banks
The European Banking Authority published its second quantitative report on minimum requirements for own funds and eligible liabilities (MREL) under the new methodology. The report shows that as of December 2019, the largest institutions have made good progress in reducing MREL shortfalls and that smaller institutions tend to lag behind.
ESMA consults on synthetic securitizations RTS and amendments to STS templates
The European Securities and Markets Authority published a consultation paper on draft regulatory technical standards (RTS) implementing the amended Securitization Regulation (SECR).
26/05/2021
EBA publishes final draft technical standards on own funds and eligible liabilities
The European Banking Authority published its final draft Regulatory Technical Standards (RTS) on own funds and eligible liabilities. Since their entry into force, the RTS on own funds have significantly enhanced regulatory harmonization of prudential rules and contributed to strengthening the quality of regulatory capital. With the revised Capital Requirements Regulation (CRR) introducing new criteria and requirements for eligible liabilities, these amended RTS capture several aspects of eligible liabilities as well as the changes to the own funds framework.
ESMA consults on commodity derivatives technical standards as part of MiFIDII Recovery Package
The European Securities and Markets Authority launched a consultation, as part of the post-COVID-19 MiFID II Recovery Package, seeking input from market participants on its draft technical standards for commodity derivatives.
EBA 21/05/2021
EBA publishes results of EU-wide pilot exercise on climate risk The European Banking Authority published the findings of its first EU-wide pilot exercise on climate risk, whose main objective is to map banks’ exposures to climate risk and provide an insight into the green estimation efforts banks have carried out so far. The findings give a clear picture of banks’ data gaps and highlight the sense of urgency to remedy them if they are to achieve a meaningful and smooth transition to a low-carbon economy.
EBA 18/05/2021
EBA announces plans for the 2021 EU-wide Transparency exercise and EBA Risk Assessment Report The European Banking Authority announced that the annual 2021 EU-wide Transparency exercise will be carried out in autumn and the information on banks’ exposures and asset quality during the crisis will be released to market participants. The exercise will cover the figures from the second half of 2020 and the first half of 2021. The exercise will be launched in September and the results are expected to be published at the beginning of December, along with the EBA Risk Assessment Report.
EBA 17/05/2021
The EBA publishes report on Member States’ reliance on external credit ratings The European Banking Authority published a Report, which analyzes the extent to which Member States' national law relies on external credit ratings. Based on a survey among EU banking supervisors, no mechanistic reliance on external credit ratings was identified.
ESMA 12/05/2021
ESMA consults on its MiFID II/MiFIR Annual Report The European Securities and Markets Authority has launched a consultation seeking input from market participants on its MiFIDII /MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2). The consultation closes on June 11, 2021.
European Commission 11/05/2021
Europe's Digital Decade: Commission launches consultation and discussion on EU digital principles As a follow-up to its Digital Decade Communication of March 9, 2021, the Commission is launching a public consultation on the formulation of a set of principles to promote and uphold EU values in the digital space.
ECB 11/05/2021
Private sector working group on euro risk-free rates publishes recommendations on EURIBOR fallbacks
EBA 10/05/2021
EBA updates data on Deposit Guarantee Schemes across the EEA The European Banking Authority published 2020 data relating to two key concepts and indicators in the Deposit Guarantee Schemes Directive (DGSD): available financial means, and covered deposits. The EBA publishes this data on a yearly basis to enhance the transparency and public accountability of deposit guarantee schemes (DGSs) across the European Economic Area (EEA) for the benefit of depositors, markets, policymakers, DGSs and Members States.
EIOPA 07/05/2021
EIOPA launches its 2021 insurance stress test The European Insurance and Occupational Pensions Authority has launched its 2021 insurance stress test for the European insurance market today. Insurance stress tests assess the resilience of the European insurance market in case of adverse financial and economic conditions.
ESMA 07/05/2021
ESMA issues latest double volume cap data The European Securities and Markets Authority has updated its public register with the latest set of double volume cap (DVC) data under MiFID II.
EBA 06/05/2021
The EBA consults on its proposals for a central AML/CFT database The European Banking Authority launched a public consultation on draft Regulatory Technical Standards (RTS) on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in the EU. This database will be a key tool for the EBA’s recently enhanced mandate to lead, coordinate and monitor AML/CFT efforts in the European Union. The consultation runs until June 17, 2021.
EIOPA 05/05/2021
EIOPA publishes monthly technical information for Solvency II Relevant Risk Free Interest Rate Term Structures – end-April 2021 The European Insurance and Occupational Pensions Authority published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of April 2021.
04/05/2021
EBA launches discussion on NPL data templates The European Banking Authority published a discussion paper to facilitate the review of the standardized NPL data templates. The discussion paper invites all stakeholders and NPL market participants on the buyer and seller side to provide their input. The consultation runs until August 31, 2021.
ESMA 30/04/2021
ESMA publishes data for the systematic internalizer calculations for equity, equity-like instruments, bonds and other non-equity instruments The European Securities and Markets Authority has published data for the systematic internalizer quarterly calculations for equity, equity-like instruments, bonds and other non-equity instruments under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
SRB 30/04/2021
SRB issues new guidance on liquidity and funding in resolution The SRB published new guidance on liquidity and funding in resolution. Banks are likely to face liquidity stress in resolution because of the reluctance of market participants to roll-over or provide funding to a bank in crisis. Even after a successful resolution, liquidity stress may persist for some time due to the asymmetry of information regarding the viability of the resolved bank’s business model.
EIOPA 22/04/2021
EIOPA consults on the reporting of costs and charges of IORPs and the risk management by IORPs providing defined contribution schemes The European Insurance and Occupational Pensions Authority launched two consultations on risk assessment by Institutions for Occupational Retirement Provisions (IORPs) providing defined contribution (DC) schemes and the supervisory reporting of costs and charges by IORPs.