In a recently published Joint Declaration, European Parliament, Council, and Commission agreed to explore the possibility of introducing rules establishing reporting obligations for the member states, to ensure availability of information for evaluating the contribution to environmental objectives of the funds borrowed in the capital markets. To that end, EC will endeavor to make a legislative proposal during the first quarter of 2021. This is in context of the shared political ambition of the European Green Deal, which underlines the EC ambition to raise at least 30% of the funds to be borrowed in the capital markets through the issuance of bonds contributing to environmental objectives. The Joint Declaration was published in the Official Journal of European Union.
Related Link: Joint Declaration
Keywords: Europe, EU, Banking, Insurance, Securities, Reporting, European Green Deal, Green Bonds, EC
BIS published a paper that provides an overview on the use of big data and machine learning in the central bank community.
APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.
ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.
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ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.
BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.
EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.
SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.
EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting