Featured Product

    FINMA Announces 64 Banks Meet Criteria for Small Banks Regime

    February 27, 2020

    FINMA announced that 64 banks meet the criteria for participation in the voluntary small banks regime in Switzerland. Under the small banks regime, small, particularly liquid and well-capitalized institutions, are relieved of certain regulatory requirements. In addition, FINMA has streamlined auditing for all institutions: small institutions without observable increased risks can now request two- or three-yearly auditing by their audit firm instead of annual auditing. FINMA has so far granted reduced audit frequency to 56 smaller institutions, 19 of which are also participating in the small banks regime.

    Nearly 200 banks and securities firms fall in the supervisory categories 4 and 5 in Switzerland and these can apply to participate in the small banks regime. Some banks are voluntarily foregoing participation while others do not meet the required criteria. FINMA does not publish a list of participants in the small banks regime. FINMA launched the small banks regime in 2018. Seventy banks have applied to register since the conclusion of the 18-month pilot project and the registration deadline at the end of January 2020. Sixty-four of these banks fulfill the criteria to take part and are being admitted to the small banks regime retroactively from the beginning of 2020. FINMA expects the institutions participating in the small banks regime to be able to save costs directly and indirectly, owing to the quantitative and qualitative exemptions and relaxations. They will be able, for example, to forego the calculation of risk-weighted assets and the structural liquidity ratio and have reduced disclosure obligations. 

     

    Related Links (in German)

    Keywords: Europe, Switzerland, Banking, Small Banks Regime, Regulatory Capital, Disclosure, FINMA

    Featured Experts
    Related Articles
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    News

    US Agencies Propose Changes to Call Reports and Instructions

    Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.

    July 22, 2021 WebPage Regulatory News
    News

    PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker

    The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Examines Asset Encumbrance in Banking Sector

    The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Publishes Methodological Guide to Mystery Shopping

    The European Banking Authority (EBA) published a methodological guide to mystery shopping.

    July 21, 2021 WebPage Regulatory News
    News

    APRA Issues Update on Capital Reform Policy Settings for Banks

    The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.

    July 21, 2021 WebPage Regulatory News
    News

    CPMI-IOSCO Assess Continuity Planning of Market Infrastructures

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.

    July 21, 2021 WebPage Regulatory News
    News

    ESMA Responds to Proposal Related to Sustainability Standards Board

    The European Securities and Markets Authority (ESMA) has responded to the IFRS consultation on targeted amendments to the IFRS Foundation constitution to accommodate an International Sustainability Standards Board (ISSB) to set IFRS Sustainability Standards.

    July 21, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7283