Featured Product

    EC Rule Amends Standards on Disclosure of Systemic Risk Indicators

    June 24, 2021

    EC published Regulation 2021/1018, which amends the implementing technical standards laid down in Regulation 2021/637, on the disclosure of indicators of global systemic importance. Regulation 2021/637 lays down the technical standards for public disclosures of certain information, as referred to in Titles II and III of Part Eight of the Capital Requirements Regulation or CRR (575/2013). Regulation 2021/1018 shall enter into force on the day of its publication in the Official Journal of the European Union and shall apply from June 28, 2021.

    Article 441 of the CRR requires global systemically important institutions (G-SIIs) to disclose, on an annual basis, the values of the indicators used for determining their score in accordance with the identification methodology. Regulation 2021/1018 involves insertion of Article 6a on the disclosure of indicators of global systemic importance into Regulation 2021/637. This new Article specifies that G-SIIs shall disclose information on values of the indicators used for determining the score referred to in Article 441 of CRR by using the uniform disclosure format, which shall be used for the collection of the indicator values by relevant authorities as set out in Article 3(2) of Delegated Regulation 1222/2014. G-SIIs shall disclose this information in their year-end Pillar 3 report. G-SIIs shall redisclose this information in their first Pillar 3 report following the final submission of the values of the indicators to the relevant authorities, where the submitted figures are different from the figures disclosed in the year-end Pillar 3 report. Regulation 2021/1018 also repeals Regulation 1030/2014 on the uniform formats and dates for the disclosure of values used to identify G-SIIs. 

     

    Related Link: Regulation 2021/1018 (PDF)

    Effective Date: June 24, 2021

    Keywords: Europe, EU, Banking, Implementing Technical Standards, CRR, G-SII, Systemic Risk, Disclosures, Basel, Pillar 3, Reporting, EC

    Featured Experts
    Related Articles
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    News

    US Agencies Propose Changes to Call Reports and Instructions

    Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.

    July 22, 2021 WebPage Regulatory News
    News

    PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker

    The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Examines Asset Encumbrance in Banking Sector

    The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Publishes Methodological Guide to Mystery Shopping

    The European Banking Authority (EBA) published a methodological guide to mystery shopping.

    July 21, 2021 WebPage Regulatory News
    News

    APRA Issues Update on Capital Reform Policy Settings for Banks

    The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.

    July 21, 2021 WebPage Regulatory News
    News

    CPMI-IOSCO Assess Continuity Planning of Market Infrastructures

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.

    July 21, 2021 WebPage Regulatory News
    News

    BoE Announces Changes to Validation Rules for Form BTL

    The Bank of England (BoE) published questions and answers (Q&A) on OSCA to BEEDS migration for statistical reporting as well a presentation from the project overview session held with statistical reporters.

    July 20, 2021 WebPage Regulatory News
    News

    BCBS Proposes Changes to Process for Reviewing G-SIB Methodology

    The Basel Committee on Banking Supervision (BCBS) is consulting on a technical amendment to the Basel Framework to reflect a new process reviewing the global systemically important bank (G-SIB) assessment methodology.

    July 20, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7281