Featured Product

    BaFin Issues Regulatory Updates for Banks in Germany

    August 16, 2021

    The Federal Financial Supervisory Authority of Germany (BaFin) published a circular on determination of the minimum requirement for own funds and eligible liabilities (MREL) for institutions and group companies, for which the wind-up plan provides for liquidation in the context of insolvency proceedings. This circular will replace the previous MREL circular that was published in August 2019. BaFin also launched a consultation (12/2021) on revisions to the circular on the minimum requirements for feasibility of a bail-in (MaBail-in). BaFin is consulting to extend the circular to institutions and group-affiliated companies for which the resolution plan does not provide for any resolution measures, provided they are part of a resolution group or relevant third-country subsidiaries. The consultation closes on August 18, 2021.

    In addition, BaFin published amendments to the minimum requirements for risk management (MaRisk). The amendments to the minimum requirements for risk management implement the European Banking Authority (EBA) guidelines on management of non-performing and forborne exposures (EBA/GL/2018/06), outsourcing (EBA/GL/2019/02), and information and communication technology (ICT) and security risk management (EBA/GL/2019/04). A new version of the banking supervisory requirements for information technology (BAIT) was also released. In the amended BAIT, the supervisory authority describes what framework conditions they can now expect for secure information processing and information technology. Finally, BaFin published the payment service supervisory requirements for information technology (ZAIT), for payment and e-money institutions. 

     

    Related Links (in German)

     

    Comment Due Date: August 18, 2021

    Keywords: Europe, Germany, Banking, MREL, Bail-In, ICT Risk, Resolution Framework, Outsourcing, Technology Risk, NPLs, Forborne Exposures, EBA, BaFin

    Related Articles
    News

    APRA Issues Interim Update to Policy Priorities for 2021 and Beyond

    In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.

    September 24, 2021 WebPage Regulatory News
    News

    EC Adopts Solvency II and Resolution Rules Package for Insurers

    The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.

    September 22, 2021 WebPage Regulatory News
    News

    OCC Issues Booklets on Regulatory Reporting and Earnings

    The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.

    September 22, 2021 WebPage Regulatory News
    News

    ECB Sets Out Results of Economy-Wide Climate Stress Tests

    The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.

    September 22, 2021 WebPage Regulatory News
    News

    EBA Examines Implications of Increasing Use of Digital Platforms in EU

    The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.

    September 21, 2021 WebPage Regulatory News
    News

    HKMA Issues Updates on Policy Measures Intended to Ease COVID Impact

    The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.

    September 21, 2021 WebPage Regulatory News
    News

    ISDA Responds to BCBS Proposal on Treatment of Cryptoasset Exposures

    The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.

    September 21, 2021 WebPage Regulatory News
    News

    BIS Quarterly Review Discusses Developments in Fintech and ESG Space

    BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.

    September 20, 2021 WebPage Regulatory News
    News

    BCBS to Consult on Supervisory Practices for Climate Risks by Year-End

    The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards

    September 20, 2021 WebPage Regulatory News
    News

    OCC Identifies Operational Risk Deficiencies in MUFG Union Bank

    The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.

    September 20, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7494