Featured Product

    ESRB Opinion on the Proposed CCP Recovery and Resolution Framework

    July 25, 2017

    ESRB published an opinion on the proposed central counterparty (CCP) recovery and resolution framework. With this opinion, ESRB aims to provide input to the ongoing legislative debate and the regulatory dialog on CCP recovery and resolution issues.

    In November 2016, EC had published a legislative proposal for a CCP recovery and resolution regime for the EU. Among the EU member states, discussions are ongoing on this draft legislative text, with the latest Presidency compromise text (as of the date of this opinion) having been published in April 2017. ESRB refers to this latest document (as the Proposal) in its input. ESRB has identified a number of areas where the provisions of the Proposal should be amended or expanded to better address macro-prudential considerations and these are as follows:

    Further harmonize recovery actions in secondary legislation

    Strengthen, where necessary, the financial stability mandate of CCP supervisory authorities in the EU

    Strengthen resolution planning by conducting an impact assessment and an analysis of existing financial resources

    Include further resolution tools and clarify the use of the proposed tools

    Enhance cross-border cooperation and cooperation with bank resolution authorities

    Further clarify conditions for the suspension of clearing obligations and the use of public financial support

     

    Related Links

    ESRB Opinion (PDF)

    EC Proposal of April 2017 (PDF)

    Keywords: Europe, EU, Banking, Securities, CCP, Recovery and Resolution Framework, ESRB

    Featured Experts
    Related Articles
    News

    HKMA Consults on Supervisory Policy for OTC Derivatives Transactions

    HKMA is consulting on revisions to the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.

    May 25, 2020 WebPage Regulatory News
    News

    PRA on Regulatory Capital and IFRS 9 Requirements for Payment Holidays

    PRA provided further information on the application of regulatory capital and IFRS 9 requirements to payment holidays granted or extended to address the challenges arising from COVID-19 outbreak.

    May 22, 2020 WebPage Regulatory News
    News

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    US Agencies Amend Interim Final Rule on Transition Period for CECL

    US Agencies (FDIC, FED, and OCC) published a final rule that makes technical changes to the March 31, 2020 interim final rule that provides a five-year transition period for the impact of the current expected credit loss (CECL) methodology on regulatory capital.

    May 19, 2020 WebPage Regulatory News
    News

    ECB Releases Results of March Survey on Credit Terms and Conditions

    ECB published results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets.

    May 19, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5208