DNB issued the banking and insurance newsletters for June 2019. The banking newsletter focuses on the new European regulatory package aimed to reduce the risks in the banking sector and to build in more proportionality. The regulatory package includes revisions to capital requirements regulation and directive (CRR/CRD), Banking Recovery and Resolution Directive (BRRD), and Single Resolution Mechanism Regulation (SRMR). DNB is also consulting on specific provisions related to CRD IV and CRR, which will run until August 01, 2019. The insurance newsletter highlights that DNB supports EIOPA in its evaluation of Solvency II.
The following are the additional key highlights of the newsletters:
- DNB amended its position on the independent functioning of the Supervisory Board on a number of points.
- DNB and Netherlands Authority for the Financial Markets (AFM) is consulting on changes related to a policy rule, following changes in national and European legislation and regulations.
- DNB has conducted an initial exploratory study into artificial intelligence and machine learning applications in lending at Dutch banks. With these applications, banks aim to automate parts of the lending process and to improve the functioning of the existing lending models.
- DNB published the definitive questions and answers (Q&A) on the recognition of reinsurance contracts under the standard formula and updated Q&A for health insurers on the prohibition of ancillary activities.
- The newsletters contain updated calendars for banks and insurers.
- Banking Newsletter (in Dutch)
- Insurance Newsletter (in Dutch)
- Banking Calendar (PDF in English)
- Insurance Calendar (PDF in Dutch)
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, QIS Calender, CRR/CRD, BRRD, SRMR, Solvency II, NPLs, DNB
The Prudential Regulation Authority (PRA) published the final policy statement PS21/21 on the leverage ratio framework in the UK. PS21/21, which sets out the final policy of both the Financial Policy Committee (FPC) and PRA
The Consumer Financial Protection Bureau (CFPB) proposed to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) under Section 1071 of the Dodd-Frank Act.
The Prudential Regulation Authority (PRA) decided to maintain, at the 2019 levels, the buffer rates for the Other Systemically Important Institutions (O-SII) for another year, with no new rates to be set until December 2023.
The Financial Stability Board (FSB) published a progress report on implementation of its high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements.
In a letter to the authorized deposit taking institutions, the Australian Prudential Regulation Authority (APRA) announced an increase in the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are consulting on the preliminary guidance that clarifies that stablecoin arrangements should observe international standards for payment, clearing, and settlement systems.
The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have set out their respective work priorities for 2022.
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework.
The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013).
EC published the Implementing Regulation 2021/1751, which lays down implementing technical standards on uniform formats and templates for notification of determination of the impracticability of including contractual recognition of write-down and conversion powers.