The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021. The 2021 list includes 66 financial conglomerates with the head of group located in the European Union or European Economic Area, one financial conglomerate with the head of group in Switzerland (UBS), and one in the United Kingdom (Quilter plc). The list features names like Danske Bank, Banco Santander, BNP Paribas Group, Groupe Crédit Agricole, Société Générale Group, Unicredit S.p.A, Nordea Bank Abp, and Crédito Agrícola.
Keywords: Europe, EU, Banking, Insurance, Securities, Competent Authorities, Financial Conglomerates, EBA, EIOPA, ESMA, ESAs
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The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.
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The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.