DNB issued the banking and insurance newsletters for April 2019. The newsletters highlight that Dutch Authority for the Financial Markets (AFM) and DNB want to make banks, insurers, and pension funds aware of the risks and the importance of the transition to alternative, risk-free benchmarks (expected in 2022). The supervisors request market parties to analyze the risks of the transition and to take appropriate action, so that they are prepared in time.
The banking newsletter also highlights that DNB has decided to adopt a Belgian macro-prudential measure for the mortgage market. Dutch banks, using internal ratings-based (IRB) approach, that have more than EUR 2 billion in Belgian residential mortgages through branches or directly across borders must apply a higher risk-weight. The additional key highlights of the newsletters include: an update on the study conducted by DNB on management of counterparty credit risk on healthcare providers at four healthcare insurers; recent relevant publications by ECB, EBA, EC, and other international forums; and an updated calendar for banks
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, QIS Calendar, IRB, Benchmarks, DNB
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.
FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.
ECB published eleventh issue of the Macroprudential Bulletin, which provides insight into the ongoing work of ECB in the field of macro-prudential policy.
HM Treasury issued a call for evidence seeking views to reform the prudential regulatory regime—also known as Solvency II—of the insurance sector in UK.
ESRB responded to the EC consultation on review of Solvency II regime.
HM Treasury launched a consultation on Phase II of the Future Regulatory Framework Review, with the comment period ending on January 19, 2021.
EC adopted the work program for 2021.