NBB published a Royal Decree approving the regulation on additional own funds requirements for macro-prudential risk with regard to exposures covered by residential real estate in Belgium. The regulation has been introduced in line with Article 458 of the Capital Requirements Regulation or CRR (575/2013), which allows competent authorities to impose stricter measures to take account of changes in the intensity of macro-prudential risk and, in particular, to cope with additional risks in the residential real estate sector. The regulation states that, for property covered exposures to retail clients, the risk-weight for exposures calculated in accordance with Article 154 of the CRR has been increased. The regulation shall be in force from May 01, 2020 to April 30, 2021.
Related Link: Royal Decree (PDF in Dutch)
Effective Date: May 01, 2020
Keywords: Europe, Belgium, Banking, CRR, Systemic Risk, Macro-prudential Policy, Residential Real Estate, Regulatory Capital, EBA, NBB
Previous ArticleESMA Responds to EC Consultation on Review of Benchmarks Regulation
BIS Innovation Hub published the work program for 2021, with focus on suptech and regtech, next-generation financial market infrastructure, central bank digital currencies, open finance, green finance, and cyber security.
In an article published by SRB, Mairead McGuinness, the European Commissioner for Financial Services, Financial Stability, and Capital Markets Union, discussed the progress and next steps toward completion of the Banking Union.
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.