Featured Product

    EBA Finalizes LCR Standards; ESAs to Work on Cyber Incident Framework

    January 27, 2022

    The European Banking Authority (EBA) published the final report on amendments to the implementing technical standards on currencies with constraints on the availability of liquid assets in the context of the liquidity coverage ratio (LCR). The amendments, which are in accordance with the Capital Requirements Regulation (575/2013), remove the Norwegian Krone (NOK) from the list of currencies with constraints. Thus, no currency will be recognized as having constraints on the availability of liquid assets. The draft standards will be submitted to the European Commission for endorsement before being published in the Official Journal of the European Union. In another development the European Supervisory Authorities (ESAs) welcomed the recommendation from the European Systemic Risk Board (ESRB) for the creation of a pan-European systemic cyber incident coordination framework—also called EU-SCICF.

    In its recommendation, ESRB had called on ESAs to prepare for the gradual development of this pan-European framework to support an effective and coordinated response at the European Union level, in case of a major cross-border cyber incident with the potential for a systemic impact. The recommendation states that preparatory work for the gradual development of the framework should include an assessment of its resource requirements, with the recommendation setting out some concrete steps for ESAs. The ESRB recommendation also proposed for the ESAs, in consultation with the European Central Bank (ECB) and ESRB, to conduct a mapping and subsequent analysis of the current impediments as well as legal and other operational barriers for the effective development of the pan-European systemic cyber incident coordination framework. This framework endorses the potential coordination roles of ESAs, as envisaged in the European Commission’s proposed Digital Operational Resilience Act (DORA).

     

    Related Links

    Keywords: Europe, EU, Banking, Insurance, Securities, Basel, Reporting, Liquidity Risk, LCR, CRR, Implementing Technical Standards, Cyber Risk, EU-SCICF, Cyber Incident Coordination, Operational Resilience, DORA, Operational Risk, Systemic Risk, ECB, ESRB, EBA, ESAs

    Featured Experts
    Related Articles
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies

    The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)

    September 13, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514