Featured Product

    ECB Updates List of Supervised Entities in EU in December 2019

    December 04, 2019

    ECB updated the list of supervised entities in EU, following the annual review of significance and ad hoc assessments. From January 01, 2020, the number of supervised entities will decrease to 117, from 119 a year earlier. The changes are the result of new group structures, a license withdrawal, business relocations in view of Brexit, regulatory changes, and other developments. The list contains the ECB-supervised institutions, which comprise the significant (part A) and less significant credit institutions (part B). The cut-off date for these changes is November 01, 2019.

    While the number of significant institutions has fallen, banks directly supervised by ECB are generally becoming larger and more complex, as banking groups consolidate or relocate activities from UK to the euro area. The key changes follow:

    • ECB will directly supervise Akcinė bendrovė Šiaulių bankas, which was classified significant after it became the third largest credit institution in Lithuania, from January 01, 2020.
    • Owing to Brexit, four banks are expected to significantly increase their business activities and have been placed under the direct supervision of ECB: UBS Europe SE, J.P. Morgan AG, Morgan Stanley Europe Holding SE, and Goldman Sachs Bank Europe SE.
    • Credito Cooperativo Italiano S.p.A., a new banking group led by Cassa Centrale Banca and formed after a law was introduced in Italy on the consolidation of cooperative banks, was classified as significant because its assets exceeded EUR 30 billion. 
    • ECB took over the supervision of AS “PNB Banka” at the request of the Latvian Financial and Capital Market Commission and ECB later declared the bank “failing or likely to fail.”
    • Nine banks were removed from the list of ECB-supervised banks. Of these, five became branches of significant institutions and were thus removed from the list while still being supervised as part of the group: Luminor Bank AB, Luminor Bank AS, and branches of Barclays Bank plc in Germany, France, and Italy. ECB stopped direct supervision of three banks following an amendment of the Capital Requirements Directive (CRD) that excluded development banks from the supervisory remit of ECB: Landeskreditbank Baden-Württemberg-Förderbank, Landwirtschaftliche Rentenbank, and NRW.BANK. Another bank, ABLV Bank Luxembourg, S.A., had its license withdrawn.

    ECB reviews certain parameters that determine whether a credit institution or a group fulfills any of the significance criteria according to the SSM Framework Regulation (EU Regulation No 468/2014). In the SSM framework, the types of supervised banks are referred to as credit institutions, financial holding companies, mixed financial holding companies, and a branch established in a participating member state by a credit institution that is established in a non-participating member state. ECB updates the list of supervised entities regularly and the list reflects status of banks at the given cut-off date. This date does not necessarily coincide with the date of the actual decision on the significance of a bank. The list is compiled on the basis of significance decisions adopted and notified by ECB that refer to events that became effective up to the cut-off date.


    Related Links

    Keywords: Europe, EU, Banking, Supervised Entities, Significant Credit Institutions, Less Significant Credit Institutions, Banking Supervision, SSM, CRD, Brexit, ECB

    Featured Experts
    Related Articles

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582