BaFin submitted a draft form for submission of netting notifications in accordance with Article 295 of the Capital Requirements Regulation (CRR) for consultation. According to Article 295 of CRR, institutions can submit netting agreements to the supervisory authority for recognizing the risk-reducing effect. The form is aimed at less significant institutions (LSIs), the non-CRR credit institutions for which the CRR is to be applied in accordance with Section 1A of the German Banking Act (KWG) and CRR investment firms. The comment period for the draft form will remain open until March 06, 2020.
Related Links (in German)
Comment Due Date: March 06, 2020
Keywords: Europe, Germany, Banking, Less Significant Institutions, CRR, Netting, OTC Derivatives, Master Netting Agreement, BaFin
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EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.
The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.
In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.
In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.
EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).
ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).
EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.
HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.
EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.
BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.