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
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.
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.