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 European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The Hong Kong Monetary Authority (HKMA) announced that the Green and Sustainable Finance (GSF) Cross-Agency Steering Group has launched the information and data repositories and outlined the progress made in advancing the development of green and sustainable finance in Hong Kong.
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
The Network for Greening the Financial System (NGFS) published a report that explores the feasibility of integrating the G-Cubed general equilibrium model into the NGFS suite of models.
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.