DNB notified that the Netherlands Court of Audit (ARK) published a report on banking resolution in the Netherlands. DNB has also responded to this report, which contains the results of investigation of the court of audit ARK into resolution planning by DNB for medium-size and small banks. The report notes that progress has been made in the resolution planning of medium-size and small banks, although all plans have yet been fully completed.
The report contains conclusions and recommendations on the organization of the resolution tasks. DNB agrees with the main conclusions and recommendations of the report. These have allowed DNB to gain increasingly better insight into the required capacity deployment, lead time, and prioritization of the resolution tasks. An improvement process has been rolled out to strengthen the process assurance and file management of resolution planning for the less significant institutions.
As a national resolution authority, DNB also contributes to resolution policy, frameworks, and planning for banks under the direct responsibility of the Single Resolution Board (SRB). DNB is responsible for the operational implementation of resolution for all banks in the Netherlands.
Related Link: Press Release (in Dutch)
Keywords: Europe, Netherlands, Banking, Netherlands Court of Audit, Less Significant Institutions, Resolution Planning, Resolution Framework, DNB
The Bank of England (BoE) published the Statistical Notice 2021/09 requiring additional information from firms and software vendors to assist in the onboarding and testing phases for migrating statistical reporting to the BEEDS portal.
The European Banking Authority (EBA) published the final draft regulatory technical standards on gross jump-to-default amounts and on residual risk add-on under the Capital Requirements Regulation or CRR.
The Financial Conduct Authority (FCA) published the final rules on the Investment Firms Prudential Regime (IFPR) to streamline and simplify the prudential requirements for solo-regulated UK firms authorized under the Markets in Financial Instruments Directive (MiFID).
The European Supervisory Authorities (ESAs) have delivered to the European Commission (EC) the final report on the draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR).
The European Banking Authority (EBA) published an advice to the European Commission (EC) on funding in resolution and insolvency as part of the review of the crisis management and deposit insurance (CMDI) framework.
The Financial Stability Oversight Council (FSOC) released a report in response to the U.S. President's Executive Order on climate-related financial risk.
The Bank for International Settlements (BIS) published a paper that examines the business models and the associated risks posed by big technology firms foraying into financial services sector.
The Bank for International Settlements (BIS) announced the development of an Asian Green Bond Fund, in collaboration with the development financing community, to channel global central bank reserves to green projects in Asia Pacific.
The working groups of the Climate Financial Risk Forum (CFRF) published a second round of guides (or Session 2 guides), written by the industry for the industry, to help financial firms manage climate-related financial risks.
The Prudential Regulation Authority (PRA) published the final Policy Statement PS24/21 that contains the new Non-Performing Exposures Securitization Part of the PRA Rulebook and an updated Supervisory Statement SS10/18 on the general requirements and capital framework with respect to securitizations.