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
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.
The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.
The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.
The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.
The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.
The Australian Prudential Regulation Authority (APRA) updated the list of authorized deposit-taking institutions, granting license to Barclays Bank PLC and Crédit Agricole Corporate and Investment Bank to operate as foreign authorized deposit-taking institutions under the Banking Act 1959.
EU published, in the Official Journal of the European Union, a corrigendum to the Delegated Regulation 2015/35, which supplements Solvency II Directive (2009/138/EC).
The European Banking Authority (EBA) published an Opinion on the scale and impact of de-risking in European Union and the steps that competent authorities should take to tackle unwarranted de-risking.