UK Mortgage Loan Market Expectations

Assessing ESG Risks Across Company Types

CIS Economic and Credit Outlook

EBA Consults on Pillar 3 Disclosure Standards for ESG Risks Under CRR

EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).

ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting

ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting

EU Amends CRD4 and CRD5 as Part of Capital Markets Recovery Package

EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.

EBA Publishes Single Rulebook Q&A Updates in February 2021

The EBA Single Rulebook question and answer (Q&A) tool updates for this month include answers to ten questions.

ESMA Releases Schema and Instructions for Securitization Reporting

ESMA updated the set of questions and answers (Q&A), along with the reporting instructions and an XML schema for the templates set out in the technical standards on disclosure requirements, under the Securitization Regulation.

EU Rule Amends Requirement for European Single Electronic Format

EU published Regulation 2021/337, which amends the Transparency Directive (2004/109/EC), regarding the use of the single electronic reporting format for annual financial reports.

EU Committee Recommends Systemic Risk Buffer of 4.5% in Norway

The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.

PRA Clarifies Approach to Onshoring of Credit Risk Rules for UK Banks

In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.

ESAs Issue Statement on Application of Sustainability Disclosures Rule

ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).

EC Consults on Crisis Management and Deposit Insurance Frameworks

EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.

EU Publishes Corrigendum to Revised Capital Requirements Regulation

EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).

PRA Identifies Error in Remuneration Part of the Rulebook

PRA has identified error in the “higher paid material risk taker” definition in Rule 1.3 in the Remuneration Part of the PRA Rulebook, which was introduced as part of the PRA implementation of the fifth Capital Requirements Directive (CRD5).

EBA Proposes Standards for Supervisory Cooperation Under IFD

EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.

BoE Addresses Banks in Scope of First Resolvability Assessment

BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.

Global Economic Outlook

After a soft end to 2020 and a difficult start in 2021, the global economic recovery is projected to gain momentum in the coming year supported by the coronavirus vaccine rollout.

DNB Issues Several Reporting Updates for Banks in February 2021

DNB published several reporting updates, along with an updated list of additional data requests for banks.

BoE Sets Out Plan to Transform Data Collection from Financial Sector

BoE has set out a three-phased plan to transform data collection from the UK financial sector over the next decade.

BaFin Sets Out Minimum Requirements for Resolution Assessments

BaFin published a circular that sets out the minimum requirements for institutions to maintain appropriate systems and processes to provide essential information for effective and efficient resolution on an ad hoc basis—within 24 hours of a request from the resolution authority.

ESRB Updates List of Macro-Prudential Measures in February 2021

ESRB updated the list of national macro-prudential measures applied by each member state in the European Economic Area.

BoE Survey Shows Positive COVID Impact on Outsourced Banking Services

BoE has set out results of a survey on the impact of COVID-19 events on the use of machine learning and data science.

ECB Issues Opinion on Proposal to Regulate Crypto-Asset Markets in EU

In response to a request from the European Council and Parliament, ECB published an opinion on the proposed regulation on markets in crypto-assets.

ECB and UK Authorities Agree on Post-Brexit Supervisory Cooperation

ECB published supervisory Memorandums of Understanding (MoUs) with UK as well as other European and non-European authorities.

EIOPA Outlines Strategic Supervisory Priorities for Insurance Sector

EIOPA identified business model sustainability and adequate product design as the two EU-wide strategic supervisory priorities.

EBA Issues Standards to Determine Indirect Exposures from Derivatives

EBA published the final draft regulatory technical standards that present a methodology for the calculation of indirect exposures for different categories of derivative contracts and credit derivative contracts with a single underlying debt or equity instrument.

EC to Propose Reporting Obligations in Context of Environmental Goals

In a recently published Joint Declaration, European Parliament, Council, and Commission agreed to explore the possibility of introducing rules establishing reporting obligations for the member states.

EC Amends Regulation on Closely Correlated Currencies Under CRR

EC published Regulation 2021/249 that amends Regulation 2015/2197, which sets out closely correlated currencies in accordance with the Capital Requirements Regulation (CRR).

EBA Publishes Standards on Disclosure of Systemic Risk Indicators

EBA published a report on the final draft implementing technical standards on the disclosure of indicators of systemic importance by the global systemically important institutions (G-SIIs).