EU published, in the Official Journal of the European Union, a corrigendum to the Capital Requirements Directive, or CRD, 5 (2019/878). The corrigendum mentions corrections to six articles, including text related to additional own funds requirement and restriction on distributions in case of failure to meet the leverage ratio buffer requirement. CRD 5 amends CRD 4 (Directive 2013/36/EU) regarding exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers, and capital conservation measures. In June 2020, EU had also published a corrigendum to CRD 4 in the Official Journal of the European Union. The corrigendum to CRD 4 amended articles related to restrictions on distributions and assessment of capital conservation plans.
The corrigendum to CRD 5 mentions corrections to the following:
- Second subparagraph of Article 21a(2) related to approval of financial holding companies and mixed financial holding companies
- Article 21b(8) related to intermediate EU parent undertaking
- Article 104a(4) related to additional own funds requirement
- Point (b) of the second subparagraph of Article 141(2) related to restrictions on distributions
- Point (d) of the first subparagraph of Article 141(6) related to restrictions on distributions
- Point (b) of the second subparagraph of Article 141b(2) related to restriction on distributions in case of failure to meet the leverage ratio buffer requirement
Keywords: Europe, EU, Banking, CRD5, CRD IV, Corrigendum, Own Funds Regulation, Tier 1 Capital, Leverage Ratio, Regulatory Capital, Basel, European Parliament, European Council
Previous ArticleCSSF Announces CCyB Rate for Banks for Third Quarter of 2020
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.