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
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
PRA published a public working draft, or PWD, of version 1.2.0 of the BoE Insurance XBRL taxonomy, along with the related technical artefacts.
CPMI published a report that sets out nineteen building blocks for a global roadmap to improve cross-border payments.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
ESMA published the final report on the guidelines on securitization repository data completeness and consistency thresholds.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.