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
EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.
MAS amended Notice 643A that addresses requirements for banks to prepare statements of exposures and credit facilities to related concerns or parties.
ECB has published, in the Official Journal of the European Union, the Guideline 2021/565 on the euro short-term rate (€STR) and this guideline amends the previous ECB Guideline 2019/1265.
EBA launched a consultation on the draft regulatory technical standards on the list of countries with an advanced economy for calculating the equity risk under the alternative standardized approach (FRTB-SA).
PRA is proposing, via CP7/21, the approach to implementing new requirements related to the specification of the nature, severity, and duration of an economic downturn in the internal ratings-based (IRB) approach to credit risk.
The UK government launched the Recovery Loan Scheme (RLS) as part of its continued COVID-19 support for UK businesses, as announced by HM Treasury on March 03, 2021.
FSB published a letter, from its Chair Randal K. Quarles, to the G20 Finance Ministers and Central Bank Governors, ahead of their virtual meeting on April 07, 2021.
OSFI issued a letter to the deposit-taking institutions issuing covered bonds and announced the unwinding of the temporary increase to the covered bond limit for deposit-taking institutions, effective immediately.
To support recovery from the COVID-19 crisis, EU has published two regulations to amend the securitization framework, as set out in the Securitization Regulation (2017/2402) and the Capital Requirements Regulation or CRR (575/2013).
HM Treasury announced that G7 Finance Ministers and Central Bank Governors met ahead of COP 26, the 2021 UN Climate Change Conference, and agreed on green agenda.