EBA updated the list of closely correlated currencies that was originally published in December 2013 and updated in October 2016. The list is part of the implementing technical standards (ITS) that were drafted for calculating the capital requirements for foreign-exchange risk according to the standardized rules. The list was updated according to the procedure and methodology laid down in the ITS and submitted to EC for endorsement. For this purpose, implementing Regulation (EU) 2015/2197 is being amended by replacing the text in the Annex with the updated list of correlated currencies. This regulation shall enter into force on the on the twentieth day following that of its publication in the Official Journal of the European Union.
- Press Release
- Updated ITS (PDF)
- Annex 1: Updated Currencies List (PDF)
- ITS on Closely Correlated Currencies
Keywords: Europe, Banking, Implementing Technical Standards, Correlated Currencies, Regulation 2015/2197, EBA
Previous ArticleNCUA Amends Regulations on Capital Planning and Stress Testing
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).