BaFin has replaced the form for reporting of recovery plans of less significant institutions (LSIs), according to the simplified requirements under §19 Recovery and Resolution Act (SAG). BaFin also published a guide to the web form for the reporting of recovery plans, along with the frequently asked questions on reporting of the recovery plans according to the simplified requirements.
The Excel form, which was published in October 2019, has been replaced with a more user-friendly web form. Institutions can fill the form directly on the registration and publication platform (MVP) and then submit it. The documents supplementing the recovery plan can no longer be uploaded separately as attachments. Instead, users can import these documents directly into the web form and submit them along with the form.
In addition, BaFin has announced an extension of the General Order, published in June 2019, regarding “the granting of the general license to certain institutions with regard to the termination, repayment, or buyback of eligible liabilities before their contractual maturity." The term of the General Order has been extended until December 28, 2020. The General Order is based on Article 78a paragraph 1 subparagraph 2 of the revised Capital Requirements Regulation (CRR2).
Related Links (in German)
- Notification on Replacement of Reporting Form
- Guide to Reporting Form (PDF)
- Frequently Asked Questions
- Overview Recovery Planning and Related Documents
- Notification on Extension of General Order
- General Order, June 2020
- General Order, June 2019
Keywords: Europe, Germany, Banking, Less Significant Institutions, Recovery Plan, Reporting, CRR2, Resolution Framework, Recovery and Resolution Act, BaFin
Previous ArticleUS Agencies Finalize Amendments to Swap Margin Rule
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.