DNB issued the banking and insurance newsletters for February 2019. The newsletters provide an update on Brexit, also emphasizing that financial institutions must prepare for the risk that UK will leave EU without political agreement on March 29, 2019. Additionally, Patrick de Neef, who was recently appointed to the Chief Innovation Office Supervision, highlighted in an interview that DNB wants to achieve data-oriented supervision in 2020-2022. He added that, by 2025, DNB wants to be a supervisor that makes efficient and effective use of available data and is supported by proactive risk signals with the help of machine learning.
The following are the additional key highlights of the newsletters:
- Recent relevant publications by ECB, EBA, EC, and other international forums
- Publication of a draft question and answer (Q&A) document related to reinsurance
- Update on reassessment of capital requirement for premium risk related to health insurance
- Updated calendars for banks and insurers
- Banking Newsletter (in Dutch)
- Insurance Newsletter (in Dutch)
- Banking Calendar (PDF in English)
- Insurance Calendar (PDF in Dutch)
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, QIS Calendar, Brexit, DNB
The Prudential Regulation Authority (PRA) published the final policy statement PS21/21 on the leverage ratio framework in the UK. PS21/21, which sets out the final policy of both the Financial Policy Committee (FPC) and PRA
The Consumer Financial Protection Bureau (CFPB) proposed to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) under Section 1071 of the Dodd-Frank Act.
The Prudential Regulation Authority (PRA) decided to maintain, at the 2019 levels, the buffer rates for the Other Systemically Important Institutions (O-SII) for another year, with no new rates to be set until December 2023.
The Financial Stability Board (FSB) published a progress report on implementation of its high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements.
In a letter to the authorized deposit taking institutions, the Australian Prudential Regulation Authority (APRA) announced an increase in the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are consulting on the preliminary guidance that clarifies that stablecoin arrangements should observe international standards for payment, clearing, and settlement systems.
The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have set out their respective work priorities for 2022.
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework.
The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013).
EC published the Implementing Regulation 2021/1751, which lays down implementing technical standards on uniform formats and templates for notification of determination of the impracticability of including contractual recognition of write-down and conversion powers.