BaFin published the frequently asked questions (FAQs) to Circular 06/2019 on interest rate risk in the banking book (IRRBB). Circular 06/2019 specifies the requirements that apply to institutions for the application of a sudden and unexpected interest rate change to be specified by the national supervisory authority. In addition to the Basel default shock, the institutions will have to consider other six interest rate scenarios in the future. Circular 06/2019 replaced Circular 09/2018 and had come into force on December 31, 2019.
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Keywords: Europe, Germany, Banking, IRRBB, Basel III, FAQ, Interest Rate Risk, BaFin
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BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.