EBA published answers to 15 questions under the Single Rulebook question and answer (Q&A) tool this week. The updates mainly covered queries under the Capital Requirements Directive and Regulation and certain issues related to supervisory reporting. The key supervisory reporting issues addressed relate to the EBA package for 2019 benchmarking exercise, including clarifications for templates C 101.00 and C 105.01 for benchmarking the internal approaches and calculation of recovery rate of the foreclosure assets.
The overall objective of the Q&A tool is to ensure consistent and effective application of the new regulatory framework across the Single Market. Institutions, supervisors, and other stakeholders can use the Single Rulebook Q&A tool for submitting questions on Capital Requirements Directive IV (CRD IV), CRR, and the related technical standards that have been developed by EBA and adopted.
Related Link: Single Rulebook
Keywords: Europe, EU, Banking, CRR, CRD, CRD IV, Credit Risk, Risk Weighted Assets, Single Rulebook, Q&A, Reporting, Benchmarking Internal Models, EBA
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.
FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.
ECB published eleventh issue of the Macroprudential Bulletin, which provides insight into the ongoing work of ECB in the field of macro-prudential policy.
HM Treasury issued a call for evidence seeking views to reform the prudential regulatory regime—also known as Solvency II—of the insurance sector in UK.
ESRB responded to the EC consultation on review of Solvency II regime.
HM Treasury launched a consultation on Phase II of the Future Regulatory Framework Review, with the comment period ending on January 19, 2021.
EC adopted the work program for 2021.