Christine Lagarde, the Managing Director of IMF, has been nominated for the Presidency of ECB. In that context, she issued a statement specifying that, in consultation with the Ethics Committee of the IMF Executive Board, she has decided to temporarily relinquish her responsibilities as the Managing Director of IMF during the nomination period. If appointed, Ms. Lagarde would succeed Mario Draghi as the ECB president.
The IMF Executive Board states: “We accept Ms. Lagarde’s decision to relinquish her IMF responsibilities temporarily during the nomination period. We have full confidence in First Deputy Managing Director David Lipton as Acting Managing Director of the IMF.”
Keywords: International, EU, Banking, Christine Lagarde, ECB President, ECB, IMF
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EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.