DNB issued the banking and insurance newsletters for June 2018. The newsletters for this month highlight the interview with Paul Hilbers, division director of financial stability at DNB, in which he mentions that DNB expects banks to prepare for the Brexit. The banking newsletter also highlights that DNB is inviting banks to take part in EBA data request to assess the impact of the Basel 3.5 agreement. Additionally, the newsletters include updated calendars for banks and insurers.
The newsletters contain an update on the analysis of the impact of IFRS 9 by DNB and highlight that the interested parties can submit a draft license application to DNB for a license for the provision of payment services under Payment Services Directive (PSD 2), from July 06, 2018. The newsletter highlights that the fees for the costs of supervision and resolution of banks have decreased since 2017; however, insurers and health insurers will face an increase in the variable rate for supervision in 2018. News updates related to the new guidelines for interest rate risk, the guidance for improvement of quality reporting related to Liquidity Coverage Ratio Delegated Act (LCR DA), and the good practices on management of risks of outsourcing also feature in the newsletters.
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, IFRS 9, Basel, DNB
APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.
ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.
FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.
MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.
FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.
ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.