ACPR notified that it will comply with the June 2020 EBA guideline (GL/2020/08) on legislative and non-legislative moratoria on loan repayments applied due to the COVID-19 pandemic. The EBA guideline GL/2020/08 amended the EBA guideline GL/2020/02 and extended the application date of GL/2020/02 from June 30, 2020 to September 30, 2020. ACPR also issued a notice to extend this EBA guideline (GL/2020/08) to finance companies. These finance companies do not fall within the definition of “financial institutions” referred to in Regulation 1093/2010. However, the requirements of Capital Requirements Directive (CRD IV) related to capital adequacy and risk management apply to these finance companies. This notice is applicable from the date of its publication in the Official Register of ACPR.
- Compliance Notice for EBA Guidelines (PDF in French)
- Extension of EBA Guidelines to Finance Companies (PDF in French)
- EBA Guidelines, June 2020 (PDF in English)
Effective Date: July 21, 2020
Keywords: Europe, France, Banking, COVID-19, Credit Risk, Securities, Loan Moratorium, CRD IV, Basel, EBA, ACPR
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
Previous ArticleDNB Announces Several Reporting Updates in July 2020
The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The Hong Kong Monetary Authority (HKMA) announced that the Green and Sustainable Finance (GSF) Cross-Agency Steering Group has launched the information and data repositories and outlined the progress made in advancing the development of green and sustainable finance in Hong Kong.
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
The Network for Greening the Financial System (NGFS) published a report that explores the feasibility of integrating the G-Cubed general equilibrium model into the NGFS suite of models.
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.