EU published, in the Official Journal of the European Union, corrigenda to the Directive and the Regulation on the prudential requirements and supervision of investment firms. The corrigendum to the Investment Firms Directive (IFD or 2019/2034) mentions corrections to four articles, including text related to scope, sanctions, amendments to Bank Recovery and Resolution Directive or BRRD (2014/59/EU), and transposition. The corrigendum to the Investment Firms Regulation (IFR or 2019/2033) mentions corrections to the articles on transitional provisions, amendments to the Capital Requirements Regulation (575/2013), amendments to the Markets in Financial Instruments Regulation (600/2014), and entry into force and date of application of the regulation. The corrigendum corrects point 3(b) of the Article on entry into force and date of application stating that points (30), (32), and (33) of Article 62 of IFR shall apply from December 25, 2019.
Keywords: Europe, EU, Banking, Securities, Regulation 2019/2033, Directive 2019/2034, BRRD, CRR, Corrigendum, IFR, IFD, European Parliament, European Council
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EBA published the annual report on asset encumbrance of banks in EU.
MAS revised the guidelines that address technology and cyber risks of financial institutions, in an environment of growing use of cloud technologies, application programming interfaces, and rapid software development.
FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.
EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.