Vítor Constâncio of ECB on Tackling Financial Stability Risks in EU

By Regulatory News

March 14, 2018

At the ECB and Its Watchers XIX Conference in Frankfurt, the ECB Vice President Vítor Constâncio spoke about using macro-prudential policy to address financial stability risks in the euro area. He believes that monetary policy and macro-prudential policy "are different and should remain separate," and that "monetary policy should not respond to financial stability concerns." He further opines that macro-prudential policy is "the most effective tool for safeguarding financial stability."

The ECB Vice President emphasizes that there are synergies and trade-offs between monetary and macro-prudential policies. In the context of euro area, the relative effectiveness of macro-prudential policy to tackle the build-up of financial stability risks is even more pronounced because, in a monetary union, a single monetary policy is not well-suited to deal with financial imbalances emerging at the national level. Such imbalances can be better tackled through targeted national macro-prudential measures. "The cross-country and cross-sector heterogeneity of localized vulnerabilities underlines the advantage of macro-prudential policy in containing financial stability risks, namely the possibility to activate policy instruments in a targeted manner." He then outlined the capital- and borrower-based macro-prudential instruments implemented by the national authorities, highlighting that these measures "do not reach beyond the banking sector" to cover credit intermediation that is conducted by non-bank financial institutions. "Europe should thus expand the toolkit to cover maturity mismatch and leverage also in the non-banking sector. The ongoing review of the macro-prudential framework in the EU provides an excellent opportunity to make these necessary tools available to macro-prudential authorities on a common legal basis."

He concludes that, "The institutional setup in the euro area, with distinct roles assigned to monetary policy for the maintenance of price stability and to macro-prudential policy for safeguarding financial stability, is well-placed to achieve both of these objectives." He also emphasized that the legal macro-prudential policy framework in Europe needs to be enhanced by introducing new instruments, including for non-banks, and by allowing member states and ECB more flexibility to activate those instruments. Additionally, he believes that the forthcoming review of the Capital Requirements Directive and Regulation (CRD IV/CRR) will not deliver the comprehensive reform of the macro-prudential framework, which would be important to "continue safeguarding financial stability in the euro area."

Related Link: Speech

Keywords: Europe, EU, Macro-prudential Policy, Financial Stability, CRD IV, CRR, ECB

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News Poul Thomsen of IMF on Ensuring Stability Via Macro-Prudential Policy Poul Thomsen, Director of the IMF European Department spoke, at the “ECB and Its Watchers” Conference in Frankfurt, about the role of macro-prudential policies in maintaining financial stability. March 16, 2018 WebPage Regulatory News
News EBA Publishes Roadmap for Fintech and Announces FinTech Knowledge Hub EBA published its fintech roadmap, which contains the priorities and indicative milestones for 2018-2019 in the area of fintech. March 15, 2018 WebPage Regulatory News
News ESAs Publish Report Analyzing Impact of Big Data in Financial Sector The Joint Committee of ESAs published the final report analyzing the impact of Big Data on consumers and financial firms. March 15, 2018 WebPage Regulatory News
News FSB Survey on Impact of Regulatory Reforms on Infrastructure Financing FSB launched a voluntary survey on the trends, drivers, and potential effects of regulatory reforms on infrastructure financing. March 15, 2018 WebPage Regulatory News
News Ravi Menon of MAS on the Evolving Regulatory Approach on Crypto Assets Ravi Menon of MAS spoke at the Money20/20 Conference in Singapore about the current state of thinking on crypto assets (or crypto tokens), along with the evolving regulatory approach of Singapore. March 15, 2018 WebPage Regulatory News
News EBA Advises EC on Use of Backstops to Prevent Building Up of New NPLs EBA published its advice on the EC proposal for statutory prudential backstops on banks' provisioning practices for new loans that turn non-performing. March 14, 2018 WebPage Regulatory News
News Benoît Cœuré of ECB on Interaction Between Fintech and Regulation Benoît Cœuré of ECB spoke about the two-way interaction between financial regulation and financial technology (fintech) during his introductory remarks at a roundtable organized by FinLeap in Berlin. March 14, 2018 WebPage Regulatory News
News ECB Finalizes Addendum to Guidance on Non-Performing Loans ECB published the final addendum to the ECB Guidance to banks on non-performing loans (NPLs), which reflects comments received during public consultation. March 14, 2018 WebPage Regulatory News
News EBA Issues Opinion on Measures to Address Macro-Prudential Risk EBA issued an Opinion on the measures to address macro-prudential risk. March 14, 2018 WebPage Regulatory News
News ESRB Secretariat Responds to EC Consultation on Supervisory Reporting The ESRB Secretariat issued a response to the EC consultation on fitness check on supervisory reporting. March 14, 2018 WebPage Regulatory News
News EC Proposes A Package of Measures to Tackle NPLs in Europe EC proposed a comprehensive package of measures to tackle nonperforming loans (NPLs) in Europe. March 14, 2018 WebPage Regulatory News
News SEC Proposes to Amend Liquidity Risk Management Disclosures for Funds SEC proposed amendments to the forms designed to improve the reporting and disclosure of liquidity information by registered open-end investment companies. March 14, 2018 WebPage Regulatory News
News Bundesbank Publishes AnaCredit Reporting Scheme Version 1.2 Deutsche Bundesbank published Version 1.2 of the technical reporting scheme under the AnaCredit Regulation. March 13, 2018 WebPage Regulatory News
News BIS Committees Issue Report Analyzing Central Bank Digital Currencies CPMI and the Markets Committee of BIS issued a joint report that provides an initial analysis of the central bank digital currencies (CBDCs). March 12, 2018 WebPage Regulatory News
News BCBS Issues Reports on Basel III Implementation Assessments Under RCAP BCBS published summaries of post-assessment follow-up actions taken or planned by the member jurisdictions as of the end of 2017. These actions are intended to address deviations from the Basel standards, which were identified as part of the Regulatory Consistency Assessment Program (RCAP). March 12, 2018 WebPage Regulatory News
News EC Published Proposals on Covered Bonds and Cross Border Transactions EC presented a new package of proposals, toward the development of Capital Markets Union. March 12, 2018 WebPage Regulatory News
News EIOPA Chair Speaks on Building a Sustainable Pensions Market in Europe The EIOPA Chairman Gabriel Bernardino, during the keynote address at a Conference in Berlin, discussed challenges and developments toward building a sustainable pensions market in Europe. March 12, 2018 WebPage Regulatory News
News IMF Issues Report on Assessment of Observance of ICPs for Indonesia IMF published a report on the detailed assessment of observance (DAO) of Insurance Core Principles (ICPs) in Indonesia, as part of the Joint IMF-World Bank Financial Sector Assessment Program (FSAP) mission. March 12, 2018 WebPage Regulatory News
News IMF Issues Reports on the 2017 Article IV Consultation with Morocco IMF issued staff report and selected issues report in the context of the 2017 Article IV consultation with Morocco. March 12, 2018 WebPage Regulatory News
News IOSCO Suggests Sound Practices to Protect Senior Investors from Fraud The IOSCO Board published report that examines the growing vulnerability of aging investors to financial fraud and other risks. March 12, 2018 WebPage Regulatory News
News APRA Revises the Prudential Standard LPS 230 on Reinsurance Management APRA published the final revised Prudential Standard LPS 230 on Reinsurance Management and the standard will come into effect from April 01, 2018. March 09, 2018 WebPage Regulatory News
News EBA Revises List of ITS Validation Rules in March 2017 EBA issued a revised list of validation rules in its implementing technical standards (ITS) on supervisory reporting. March 09, 2018 WebPage Regulatory News
News EBA Single Rulebook Q&A: Second Update for March 2018 The updates for this week include four items covering questions and answers (Q&A) related to supervisory reporting and recovery and resolution. March 09, 2018 WebPage Regulatory News
News ECB Representatives Speak About Work Toward Building Cyber Resilience Sabine Lautenschläger and Benoît Cœuré of ECB spoke about cyber resilience at the first meeting of the Euro Cyber Resilience Board for pan-European Financial Infrastructures in Frankfurt. March 09, 2018 WebPage Regulatory News
News EC Issues Regulatory Technical Standards Supplementing BRRD EC published the Commission Delegated Regulations (EU) 2018/344 and (EU) 2018/345 that supplement Bank Recovery and Resolution Directive, or BRRD (Directive 2014/59/EU). March 09, 2018 WebPage Regulatory News
News Andreas Dombret of Bundesbank Examines Future of US-EU Relations Dr. Andreas Dombret of Bundesbank spoke at the Institute of International Bankers, Annual Washington Conference, Washington DC on March 05, 2018. March 08, 2018 WebPage Regulatory News
News Bank of Italy Updates the Handbook on AnaCredit Reporting Bank of Italy published Version 1.0 of the handbook on AnaCredit reporting and Version 1.5 of the document on "changes to messages and communication" on AnaCredit. March 08, 2018 WebPage Regulatory News
News APRA Issues RRS 710 and RPG 702 on EFS Data Quality Framework APRA published the revised “Reporting Practice Guide RPG 702.0 ABS/RBA Data Quality for the EFS Collection” and “Reporting Standard RRS 710.0 ABS/RBA Registered Financial Corporations audit for the EFS Collection.” March 08, 2018 WebPage Regulatory News
News EBA Consults on Guidelines for Managing Non-Performing Exposures EBA launched a consultation on the guidelines for credit institutions on effectively managing non-performing exposures (NPEs) and forborne exposures (FBEs). March 08, 2018 WebPage Regulatory News
News EC Action Plan for Fintech and Proposal for Crowdfunding Regulation EC launched an Action Plan on harnessing the opportunities presented by technology-enabled innovation in financial services (fintech). EC is also putting forward new rules that will help crowdfunding platforms to grow across the single market in the EU. March 08, 2018 WebPage Regulatory News
News EC Publishes Action Plan on Sustainable Finance EC published the action plan on sustainable finance, which is part of the Capital Markets Union's efforts to connect finance with specific needs of the European economy. March 08, 2018 WebPage Regulatory News
News IMF Reports on 2018 Article IV Consultation and FSSA with Belgium IMF published staff report, selected issues report, and the Financial System Stability Assessment (FSSA) report on Belgium. March 08, 2018 WebPage Regulatory News
News APRA Consults on First Prudential Standard for Tackling Cyber Attacks APRA has responded to the growing threat of cyber attacks by proposing its first prudential standard on information security, known as CPS 234. March 07, 2018 WebPage Regulatory News
News BoE Publishes Draft Banking XBRL Taxonomy Version 3.0.0 BoE published a public working draft of the BoE Banking eXtensible Business Reporting Language (XBRL) Taxonomy Version 3.0.0 and related technical artefacts. March 07, 2018 WebPage Regulatory News
News CBB Proposes Amendments to the Capital Adequacy Module for Banks CBB proposed amendments to the capital adequacy module (Module CA)—specifically part 3, chapters CA-8 to CA-10, for conventional banks (Volume 1) and Islamic banks (Volume 2). March 07, 2018 WebPage Regulatory News
News EIOPA Q&A on Regulations: First Update for March 2018 EIOPA published new sets of questions and answers (Q&A) on guidelines on reporting and public disclosures, along with the implementing and delegating regulations applicable to insurers in Europe. March 07, 2018 WebPage Regulatory News
News IMF Issues Reports on the 2018 Article IV Consultation with Malaysia IMF published its staff report and selected issues report in the context of the 2018 Article IV consultation with Malaysia. March 07, 2018 WebPage Regulatory News
News EU Council Issues Compromise Proposals on CRR2, CRDV, BRRD2, and SRMR2 European Council published the presidency compromise proposals amending multiple regulations and directives, including Capital Requirements Regulation (CRR), Capital Requirements Directives (CRD IV), Bank Recovery and Resolution Directive (BRRD), and Single Resolution Mechanism Regulation (SRMR). March 06, 2018 WebPage Regulatory News
News BCBS Issues Basel III Monitoring Report for Data as of June 2017 BCBS published a report that presents results of the latest Basel III monitoring exercise based on data as of June 30, 2017. March 06, 2018 WebPage Regulatory News
News EBA on CRDIV-CRR/Basel III Monitoring Exercise on EU Banking System EBA published the thirteenth report on the Capital Requirements Directive IV-Capital Requirements Regulation (CRD IV-CRR)/Basel III monitoring exercise on the European banking system using data as of June 30, 2017. March 06, 2018 WebPage Regulatory News
News FSB Publishes Updated Data on Correspondent Banking Relationships FSB published updated data on correspondent banking relationships, using the data provided by SWIFT. The data is published as part of the action plan of FSB to assess and address the decline in correspondent banking relationships. March 06, 2018 WebPage Regulatory News
News NBB on Implementing EBA Guidelines on Uniform Disclosures Under CRR NBB released a circular on the implementation of EBA guidelines on uniform disclosures of IFRS 9 transitional arrangements, under Article 473a of Capital Requirements Regulation or CRR (EU Regulation No 575/2013). March 06, 2018 WebPage Regulatory News
News EC Regulation and Guideline on Statistics on Holdings of Securities EC published the Regulation (EU) 2018/318 and Guideline (EU) 2018/323 of ECB on the statistics on holdings of securities. March 05, 2018 WebPage Regulatory News
News FDIC Adopts Final Rule on Alternatives to References to Credit Ratings FDIC is adopting the final rule to amend its international banking regulations consistent with section 939A of the Dodd-Frank Act and its authority under section 5(c) of the Federal Deposit Insurance Act. March 05, 2018 WebPage Regulatory News
News FSB Issues Reporting Guidelines for Securities Financing Transactions FSB issued detailed reporting guidelines for implementing the November 2015 FSB Global Securities Financing Data Standards. March 05, 2018 WebPage Regulatory News
News FSB Issues Report on Shadow Banking Monitoring Exercise in Americas FSB published a report that presents results from the fourth shadow banking monitoring exercise in Americas. March 05, 2018 WebPage Regulatory News
News FSB Publishes Responses to Consultation on Key Attributes for Insurers FSB published ten responses to the consultation on the Methodology for Assessing the Implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) in the insurance sector. March 05, 2018 WebPage Regulatory News
News FSB Publishes the Global Shadow Banking Monitoring Report for 2017 The report presents results of the seventh annual monitoring exercise of FSB to assess global trends and risks from shadow banking activities. March 05, 2018 WebPage Regulatory News
News Randal Quarles of FED on Regulatory Regime for Foreign Banks in US Randal K. Quarles, the Vice Chairman for Supervision at FED, spoke at the Institute of International Bankers Annual Washington Conference in Washington, D.C. March 05, 2018 WebPage Regulatory News
News ESMA Updates the Document on Status of Its Various Guidelines ESMA updated the table listing status of various guidelines. March 05, 2018 WebPage Regulatory News
News Andreas Dombret of Bundesbank on Proportionality in Banking Regulation Andreas Dombret of Bundesbank spoke—at the second Regional Banking Conference of the State of Hesse in Brussels—about the prospects for, and obstacles to, greater proportionality in banking regulation. March 02, 2018 WebPage Regulatory News
News BoE Governor Speaks on the Need to Regulate Crypto Assets The BoE Governor Mark Carney spoke at the Scottish Economics Conference about the impact of developments in money and payments technologies, how BoE is helping to manage the related potential risks, and how well crypto currencies fulfil the roles of money. March 02, 2018 WebPage Regulatory News
News BoE Working Paper on Capital Regulation and Product Market Outcomes BoE published a working paper that examines the impact of the introduction of a risk-based capital regulation regime in 2002 on product market outcomes for the insurance industry in the United Kingdom. March 02, 2018 WebPage Regulatory News
News EBA Single Rulebook Q&A: First Update for March 2018 The Single Rulebook Q&A updates for this week include 15 items. March 02, 2018 WebPage Regulatory News
News ECB Consults on Guides for Capital and Liquidity Management of Banks ECB launched a public consultation on the draft principles underlying its expectations for internal capital adequacy assessment processes (ICAAPs) and internal liquidity adequacy assessment processes (ILAAPs) of banks. March 02, 2018 WebPage Regulatory News
News EC Issues Regulation on MREL Requirements Under BRRD EC published the Commission Implementing Regulation (EU) 2018/308 on formats, templates, and definitions for identification and transmission of information by resolution authorities for informing EBA about the minimum requirement for own funds and eligible liabilities (MREL). March 02, 2018 WebPage Regulatory News
News HKMA Revises Returns on Capital Adequacy and Leverage Ratios HKMA published a circular on the revised Return on Capital Adequacy Ratio (Form MA(BS)3) (CAR Return) and the new Return of Leverage Ratio (Form MA(BS)27) (LR Return), along with the Completion Instructions. March 02, 2018 WebPage Regulatory News
News IAIS Publishes Responses to Comments on Revisions to ICPs and ComFrame IAIS published responses to the comments received on consultations between March 03 and June 01, 2017. March 02, 2018 WebPage Regulatory News
News FCA Publishes CP18/6 on Proposed Amendments to the FCA Handbook FCA published the quarterly consultation paper CP18/6 on miscellaneous amendments proposed to the FCA Handbook. March 02, 2018 WebPage Regulatory News
News Danièle Nouy of ECB on Addressing the NPL Issue in European Banks Danièle Nouy of ECB spoke at the Delphi Economic Forum on the opportunities and challenges for European banks. March 01, 2018 WebPage Regulatory News
News EBA Launches New DPM Data Dictionary Tools EBA launched a new web page that includes the tools to access its data point model (DPM). March 01, 2018 WebPage Regulatory News
News ESMA Updates Validation Rules Under Article 9 of EMIR ESMA updated the validation rules for reports submitted under the revised technical standards on reporting under Article 9 of European Markets Infrastructure Regulation (EMIR). March 01, 2018 WebPage Regulatory News
News FED Announces Conclusion of Efforts of Payments Security Task Force FED announced that the Secure Payments Task Force will conclude its efforts in March with a final publication consisting of a collection of educational materials outlining the lifecycles and security profiles of the primary payment methods. March 01, 2018 WebPage Regulatory News
News CIRC Issues Rules on Management of Assets and Liabilities for Insurers CIRC released as set of regulatory rules on the management of insurance assets and liabilities, to prevent the mismatch risk of assets and liabilities in the insurance industry and enhance the asset and liability management ability of the insurance companies. The regulatory rules are subject to a trial period. March 01, 2018 WebPage Regulatory News
News FSB Completes Peer Review of Hong Kong The Hong Kong peer review examined two topics relevant for financial stability: over-the-counter (OTC) derivative market reforms and the framework for resolution of financial institutions. February 28, 2018 WebPage Regulatory News
News IAIS Holds Session on Consultation on Use of Technology in Insurance IAIS is holding a public background session on consultation on the draft application paper on the use of digital technology in inclusive insurance on March 02, 2018. February 28, 2018 WebPage Regulatory News
News Ignazio Angeloni of ECB on Proportionality in Banking Supervision Ignazio Angeloni, Member of the ECB Supervisory Board, suggested taking another look at proportionality in banking supervision, at the Thirteenth Asia-Pacific High Level Meeting on Banking Supervision in Singapore. February 28, 2018 WebPage Regulatory News
News DNB Issues Banking Newsletter for February 2018 DNB issued the banking newsletter for February 2018. February 28, 2018 WebPage Regulatory News
News DNB Issues Insurance Newsletter for February 2018 DNB issued insurance newsletter for February 2018. February 28, 2018 WebPage Regulatory News
News EIOPA Submits Second and Final Advice for Review of SCR Calculation EIOPA submitted its second and final set of Advice to EC on the standard formula for the Solvency Capital Requirement (SCR) under Solvency II. February 28, 2018 WebPage Regulatory News
News IAIS Publishes Newsletter for February 2018 IAIS published the February issue of its newsletter. February 28, 2018 WebPage Regulatory News
News BCBS Consults on Updated Framework for Pillar 3 Disclosures BCBS is consulting on the updated framework for Pillar 3 disclosure requirements. February 27, 2018 WebPage Regulatory News
News HKMA Issues Instructions for Forms MA(BS)1F(a) and MA(BS)1F(b)) HKMA issued the revised completion instructions for Form MA(BS)1F(a) and Form MA(BS)1F(b)) for Certificate of Compliance with the Banking Ordinance. February 27, 2018 WebPage Regulatory News
News ESRB Issues Opinion on Enhancing Framework for Structural Buffers ESRB published its final report on the use of structural macro-prudential instruments in the EU. February 27, 2018 WebPage Regulatory News
News FSB Issues Public Responses to Proposals on Resolution Planning FSB issued public responses to the consultations on two proposals for guidance on the implementation of particular aspects of its Key Attributes of Effective Resolution Regimes for global systemically important banks (G-SIBs). February 27, 2018 WebPage Regulatory News
News OSFI Issues Sound Practices for Derivative Activities of Pension Plans OSFI published guideline outlining the factors that it expects administrators of federally regulated private pension plans to consider when developing policies and procedures for the sound risk management of derivative activities. February 27, 2018 WebPage Regulatory News
News Representatives of EC, ECB, and ESMA Speak About Fintech Developments Valdis Dombrovskis of EC, Yves Mersch of ECB, and Steven Maijoor of ESMA spoke at the Second Annual Conference on “Fintech and Digital Innovation: Regulation at the European level and beyond” in Brussels. February 27, 2018 WebPage Regulatory News
News BNM Issues Policy Document for Digital Currencies BNM issued the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Policy for digital currencies (Sector 6). February 27, 2018 WebPage Regulatory News
News GAO Report Reviews Policies and Analyses in Regulatory Flexibility Act The U.S. GAO published a report reviewing policies and analyses under the Regulatory Flexibility Act. The report concludes that policies and analyses under the Regulatory Flexibility Act and Retrospective Reviews could be improved. February 27, 2018 WebPage Regulatory News
News IAIS Issues Global Insurance Market Report for 2017 The report discusses the global (re)insurance sector from a supervisory perspective, focusing on the sector performance and key risks. February 27, 2018 WebPage Regulatory News
News PRA Issues Response to Inquiry of Treasury Committee into Solvency II PRA published a report on its response to the inquiry of the Treasury Committee into Solvency II. February 27, 2018 WebPage Regulatory News
News FSB Completes Peer Review of Singapore The peer review examined the macro-prudential policy framework and the resolution framework for financial institutions—two topics that are relevant for financial stability in Singapore. February 26, 2018 WebPage Regulatory News
News Andreas Dombret of Bundesbank Speaks About the Future of Europe Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, spoke at the European School for Management and Technology about the future of Europe and of the euro area in particular. February 26, 2018 WebPage Regulatory News
News Valdis Dombrovskis of EC Speaks at a Roundtable on Cryptocurrencies The EC Vice President Valdis Dombrovskis spoke about cryptocurrencies and the related money laundering risks during a roundtable discussion in Brussels. February 26, 2018 WebPage Regulatory News
News BoE Publishes Paper Suggesting Policies for Financial Stability BoE published a working paper that focuses on rethinking policies for financial stability. February 23, 2018 WebPage Regulatory News
News EBA Opinion on Measures to Address Macro-Prudential Risk in Belgium EBA published an Opinion after the NBB notified EBA about its intention to modify capital requirements to address an increase in macro-prudential risk. February 23, 2018 WebPage Regulatory News
News RBNZ on Responses to Proposed Changes to Disclosure Rules for Banks RBNZ published a summary of the submissions received on the November 2017 consultation on changes to the disclosure requirements for registered banks. February 23, 2018 WebPage Regulatory News
News HKMA Issues Revised Guidelines on AML/CFT for Banks and SVF Licensees HKMA issued circulars on amendments to the guidelines on anti-money laundering and counter-terrorist financing (aml/cft) for authorized institutions and for stored value facility (SVF) licensees. February 23, 2018 WebPage Regulatory News
News IASB Issued Work Plan and Meeting Updates for February 2018 IASB published its updated work plan, along with the updates for the meeting in February 2018. The IASB update highlights preliminary decisions of the Board. February 23, 2018 WebPage Regulatory News
News OCC Publishes Final Rule Revising the Stress Testing Regulation OCC published the final rule revising its stress testing regulation, following a consultation. The effective date for the final rule is March 26, 2018. February 23, 2018 WebPage Regulatory News
News PRA Publishes Policy Statement PS2/18 on Pillar 2 Liquidity PRA published the policy statement PS2/18 that provides feedback to CP21/16 and CP13/17 on Pillar 2 liquidity. February 23, 2018 WebPage Regulatory News
News US Agencies Submit Reporting Form FFIEC 016 to OMB for Review The US Agencies (FDIC, FED, and OCC) are submitting the form FFIEC 016, as originally proposed, to OMB for review. February 23, 2018 WebPage Regulatory News
News BCL Updates Technical Specifications on AnaCredit Reporting BCL updated the document on "facets" related to AnaCredit reporting. This document has been provided as an annex to the technical specifications document for the collection of the AnaCredit reporting. February 23, 2018 WebPage Regulatory News
News APRA Publishes List of Direct to APRA Validation Rules for Banks APRA updated the list of Direct to APRA (D2A) validation rules for authorized deposit-taking institutions. February 22, 2018 WebPage Regulatory News
News BCB Consults on Provision for Expected Losses Related to Credit Risk BCB, the central Bank of Brazil, published a public consultation (60/2018) on norms that promote the convergence to the international best practices in the accounting regulation that is applicable to the National Financial System, in particular with the IFRS 9. February 22, 2018 WebPage Regulatory News
News IOSCO Proposes Guidance on Conflicts of Interest in Capital Raising IOSCO is consulting on a proposal on conflicts of interest and associated conduct risks during the equity capital raising process. February 21, 2018 WebPage Regulatory News
News MAS Consults on Rules for Mandatory Trading of Derivatives Contracts MAS proposed regulations to require the trading of over-the-counter (OTC) derivatives on organized markets, to help improve market transparency. February 21, 2018 WebPage Regulatory News
News US Treasury Report Recommends Reforms to Orderly Liquidation Authority The report responds to the Presidential Memorandum directing Treasury to propose recommendations to align OLA with the Core Principles for Financial Regulation and determine whether the Bankruptcy Code should be reformed to better enable resolution of financial companies. February 21, 2018 WebPage Regulatory News
News BaFin Circular and Financial Conglomerate Solvency Disclosure Form BaFin published the final circular and reporting form for demonstrating the capital adequacy of a financial conglomerate. February 21, 2018 WebPage Regulatory News
News Bundesbank Updates Handbook on AnaCredit Validation Rules Bundesbank published Version 3.0 of the handbook on AnaCredit Validation Rules. February 21, 2018 WebPage Regulatory News
News FCA Seeks Views on Technology to Achieve Better Regulatory Reporting FCA announced that it is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide. February 20, 2018 WebPage Regulatory News
News IMF Issues Reports on the 2017 Article IV Consultation with Australia IMF issued staff report and selected issues report in the context of the 2017 Article IV consultation with Australia. February 20, 2018 WebPage Regulatory News
News Opening Remarks of FSB Secretary General on Effects of G20 Reforms At an FSB workshop in London, Dietrich Domanski, the FSB Secretary General, outlined the planned sessions on evaluating the effects of the financial regulatory reforms on financing for infrastructure investment. February 20, 2018 WebPage Regulatory News
News BCBS Paper on Implications of Fintech for Banks and Bank Supervisors BCBS published a paper on sound practices in the context of fintech developments for banks and bank supervisors. February 19, 2018 WebPage Regulatory News
News ESMA Publishes Presentation on Proposals for Securitization Regulation ESMA published the public hearing presentation of its consultation papers on draft regulatory standards under the securitization regulation. February 19, 2018 WebPage Regulatory News
News FCA Issues Letter to CEOs on Quality of Prudential Regulatory Returns FCA published a letter requesting the CEOs of IFPRU investment firms and BIPRU firms to review their regulatory reporting practices. February 19, 2018 WebPage Regulatory News
News CPMI Issues Report on Cross-Border Retail Payments CPMI published a report recommending improvements to the infrastructure for cross-border payments made by individuals and businesses. February 16, 2018 WebPage Regulatory News
News EC Publishes Paper on Development of Private Placement of Debt in EU EC published report on a study on identifying market and regulatory obstacles to the development of private placement of debt in the EU. February 16, 2018 WebPage Regulatory News
News FDIC Chairman Speaks About Progress Toward Resolving G-SIBs in US The FDIC Chairman Martin J. Gruenberg spoke about the progress toward resolving systemically important financial institutions or SIFIs, at The Wharton School, University of Pennsylvania. February 16, 2018 WebPage Regulatory News
News FINMA Publishes Guidelines on Initial Coin Offerings FINMA published guidelines for inquiries about the regulatory framework for initial coin offerings (ICOs). February 16, 2018 WebPage Regulatory News
News PRA Consults on Eligibility of Guarantee as Unfunded Credit Protection PRA published the consultation paper CP6/18, which sets out the proposed changes to the supervisory statement SS17/13 on credit risk mitigation. February 16, 2018 WebPage Regulatory News
News BCBS Issues Basel III Monitoring Updates for February 2018 BCBS released the Basel III monitoring workbook (version 3.7.0) and its accompanying instructions, along with an updated list of frequently asked questions for the collection of December 2017 data. February 15, 2018 WebPage Regulatory News
News FDIC Adopts Final Rule Amending the International Banking Regulations FDIC adopted the final rule amending the international banking regulations on the permissible investment activities and the pledging of assets. February 15, 2018 WebPage Regulatory News
News IAIS Consults on the Use of Digital Technology in Inclusive Insurance IAIS is consulting on the draft application paper on the use of digital technology in inclusive insurance. Comments on this consultative document are due by March 16, 2018. February 15, 2018 WebPage Regulatory News
News Sabine Lautenschläger of ECB Speaks on Stability of Financial System Sabine Lautenschläger of ECB spoke about stable financial system at the Dutch Banking Day in Amsterdam. February 15, 2018 WebPage Regulatory News
News APRA Proposes Revisions to Risk-based Capital Framework for Banks APRA published a consultation revising the capital framework for authorized deposit-taking institutions. APRA also published a consultation on the implementation of leverage ratio requirements for authorized deposit-taking institutions. February 14, 2018 WebPage Regulatory News
News Bank of Italy Updates the Application Interface Manual on AnaCredit Bank of Italy published Version 1.4 of the application interface manual and Version 1.4 of the document on "changes to messages and communication" on AnaCredit. February 14, 2018 WebPage Regulatory News
News EBA Issues Corrections to XBRL Taxonomy for Benchmarking Exercise EBA published a corrective update within the XBRL taxonomy Version 2.6.0.1, which competent authorities shall use for remittance of data under the implementing technical standards on benchmarking of internal approaches, for the 2018 benchmarking exercise. February 14, 2018 WebPage Regulatory News
News ESMA Launches Interactive Single Rulebook in European Union ESMA launched its Interactive Single Rulebook, which is a new service for market participants and other interested stakeholders across EU. February 14, 2018 WebPage Regulatory News
News European Council on New Rules Under Insurance Distribution Directive On behalf of the European Council, the EU ambassadors confirmed an agreement to delay the transposition deadline and application of the new rules on insurance distribution. February 14, 2018 WebPage Regulatory News
News FED Updates Technical Instructions for Reporting Form FR Y-14A FED updated the technical instructions for annual capital assessments and stress testing (FR Y-14A). FR Y-14A is among the data collections under review by FED. February 14, 2018 WebPage Regulatory News
News IMF Issues Reports on 2017 Article IV Consultation with United Kingdom IMF issued staff report and selected issues report in the context of the 2017 Article IV consultation with the United Kingdom. February 14, 2018 WebPage Regulatory News
News IMF Issues Reports on the 2017 Article IV Consultation with Korea IMF issued staff report and selected issues report in the context of the 2017 Article IV consultation with Korea. February 13, 2018 WebPage Regulatory News
News IOSCO Consults on Policy Measures for OTC Leveraged Products IOSCO issued a consultation report that proposes policy measures to consider when addressing the risks arising from the offer and sale of OTC leveraged products to retail clients. February 13, 2018 WebPage Regulatory News
News Valdis Dombrovskis of EC Speaks on Action Plan for Sustainable Finance The EC Vice President Valdis Dombrovskis discussed the action plan for sustainable finance. February 13, 2018 WebPage Regulatory News
News EIOPA Q&A on Regulations: First Update for February 2018 EIOPA published new sets of questions and answers (Q&A) on implementing and delegating regulations, mostly relevant to Solvency II. February 12, 2018 WebPage Regulatory News
News IMF Paper Analyzes Structure and Dynamics of Shadow Banking in China BIS published a working paper analyzing the structure and dynamics of the shadow banking sector in China. February 12, 2018 WebPage Regulatory News
News RBI Issues Revised Framework on Resolution of Stressed Assets in India RBI issued the revised framework on resolution of stressed assets and the framework is applicable to all scheduled commercial banks, excluding regional rural banks, and certain all-India financial institutions. February 12, 2018 WebPage Regulatory News
News Andreas Dombret of Bundesbank Speaks on Global Economic Integration Andreas Dombret of Deutsche Bundesbank spoke at the London School of Economics and Political Science in London. He discussed the global economic integration and the future of international cooperation. February 09, 2018 WebPage Regulatory News
News BIS Hosts Eighth Conference on Bank Resolution and Deposit Insurance The Financial Stability Institute and the International Association of Deposit Insurers (IADI) of BIS organized the eighth joint conference on bank resolution, crisis management, and deposit insurance in Basel, Switzerland. February 09, 2018 WebPage Regulatory News
News Central Bank of Brazil Proposes Resolution on Exposure Limits The Central Bank of Brazil issued a consultation (Notice 59/2018) on a resolution that improves the rules applicable to maximum exposure limits per customer and the maximum limit of concentrated exposures within the scope of the National Financial System. February 09, 2018 WebPage Regulatory News
News ESMA Publishes the Supervisory Convergence Work Program for 2018 The work program details the planned activities and tasks of ESMA to promote sound, efficient, and consistent supervision across EU. February 09, 2018 WebPage Regulatory News
News IMF Publishes Staff Discussion Note on Trade-offs in Bank Resolution IMF published staff discussion note on trade-offs in bank resolution. The note examines the economic forces that determine the relative costs and benefits of bail-ins and bail-outs. February 09, 2018 WebPage Regulatory News
News Andreas Dombret of Bundesbank Speaks on Financial Services Post Brexit Andreas Dombret of Deutsche Bundesbank discussed the formal aspects of the relationship between Germany and the UK in finance after Brexit. He emphasized that pragmatic ways need to be discovered to establish a new, respectful, and friendly partnership. February 08, 2018 WebPage Regulatory News
News EBA Updates Guide on Risk Indicators and Detailed Risk Analysis Tools EBA published an updated methodological guide on how to compile risk indicators and detailed risk analysis tools (DRATs). February 08, 2018 WebPage Regulatory News
News EC Issues Notices to Prepare Financial Service Stakeholders for Brexit EC issued notices to prepare stakeholders for the exit of the UK from the EU. February 08, 2018 WebPage Regulatory News
News ESMA Publishes Annual Report for 2017 and Work Program for 2018 The annual report details supervisory activities and achievements of ESMA in 2017. The work program sets out key supervisory activities for credit rating agencies (CRAs), trade repositories, and third-country central counterparties (CCPs) in the EU. February 08, 2018 WebPage Regulatory News
News APRA Consults on Prudential Standards for Private Health Insurers APRA is consulting on a package on the governance, fit and proper, audit, and disclosure requirements for private health insurers. February 07, 2018 WebPage Regulatory News
News BoE Updates User Guide for BEEDS Under Solvency II BoE published the updated Bank of England Electronic Data Submission (BEEDS) user guide to incorporate changes that have been made as part of ongoing system maintenance, in addition to certain important information regarding account practices. February 07, 2018 WebPage Regulatory News
News ECB Publishes Statements from Annual Banking Supervision Conference ECB published introductory statements by Danièle Nouy and Sabine Lautenschläger of the ECB Supervisory Board at the annual press conference on ECB Banking Supervision in Frankfurt. ECB also published a transcript of the question and answer (Q&A) session with both the members of the ECB supervisory board. February 07, 2018 WebPage Regulatory News
News ESMA Issues Responses to Consultation on MiFID II Regulatory Standards ESMA published the responses received to its consultation on certain proposed amendments to the MiFID II regulatory technical standards (RTS) 1. February 07, 2018 WebPage Regulatory News
News ESMA Updates Q&A on Transparency Issues Under MiFID II/MiFIR The Q&A document provides responses to questions by the general public and market participants in relation to the practical application of transparency requirements. February 07, 2018 WebPage Regulatory News
News IASB Holds First Meeting of the Transition Resource Group for IFRS 17 IASB has created the Transition Resource Group (TRG) on Insurance Contracts, which held its first meeting and technical discussion in London. February 07, 2018 WebPage Regulatory News
News PRA Issues Policy Statement on Optimizations to the SIMR PRA published the policy statement PS1/18, which provides feedback to responses to Chapters 2 and 3 of the consultation paper CP8/17 titled "strengthening individual accountability in banking and insurance: optimizations to the Senior Insurance Managers Regime (SIMR) and changes to forms." February 07, 2018 WebPage Regulatory News
News ESMA Updates Q&As on Implementation of EMIR, SSR, BMR, and CSDR ESMA updated questions and answers (Q&A) documents on the implementation of European Markets Infrastructure Regulation (EMIR), Short Selling Regulation (SSR), Benchmarks Regulation (BMR), and Central Securities Depository Regulation (CSDR). February 06, 2018 WebPage Regulatory News
News FDIC Releases Economic Scenarios for the 2018 Stress Testing Exercise FDIC released the economic scenarios to be used by the financial entities that will undergo the 2018 stress testing. February 06, 2018 WebPage Regulatory News
News HKMA Consults on Guideline for Authorization of Virtual Banks HKMA is consulting on the revised guideline on the authorization of virtual banks. The consultation ends on March 15, 2018. HKMA intends to consider comments received during the consultation and issue a revised guideline in May 2018. February 06, 2018 WebPage Regulatory News
News EC Issues Regulation on Materiality Threshold for Credit Obligations EC published the final Commission Delegated Regulation (EU) 2018/171 on regulatory technical standards for the materiality threshold for credit obligations past due; this regulation supplements the Capital Requirements Regulation or CRR (EU Regulation No 575/2013). February 06, 2018 WebPage Regulatory News
News EIOPA Paper on Systemic Risk and Macro-Prudential Policy in Insurance EIOPA published the first paper in a series on systemic risk and macro-prudential policy in the insurance sector. February 06, 2018 WebPage Regulatory News
News ESMA Issues Responses to Consultation on Position Calculation on EMIR ESMA published the responses received to its consultation on position calculation under the European Market Infrastructure Regulation (EMIR). The consultation ran from November 17, 2017 to January 15, 2018. February 06, 2018 WebPage Regulatory News
News IMF Issues Reports on the 2017 Article IV Consultation with Indonesia IMF issued staff report and selected issues report in the context of the 2017 Article IV consultation with Indonesia. February 06, 2018 WebPage Regulatory News
News OSFI Revises Implementation Timeline for Net Stable Funding Ratio OSFI revised the implementation timeline for net stable funding ratio (NSFR) for deposit-taking institutions in Canada to January 2020. February 06, 2018 WebPage Regulatory News
News ESMA Issues Translations of Guidelines on MiFID II Product Governance ESMA published the official translations of its guidelines on MiFID II product governance requirements. February 05, 2018 WebPage Regulatory News
News US Agencies Propose Amendments to the Swap Margin Rule US Agencies (OCC, FED, FDIC, FHFA, and Farm Credit Administration) proposed amendments to the swap margin requirements. February 05, 2018 WebPage Regulatory News
News BCL Updates Reporting Instructions and Validation Rules for AnaCredit BCL updated the reporting instructions, validation rules, list of reporting agents, and list of legal proceedings under the AnaCredit regulation. February 05, 2018 WebPage Regulatory News
News ECB Updates Q&A and Annexes to the AnaCredit Reporting Manual ECB updated the questions and answers (Q&A) on AnaCredit Reporting Manual, along with the Annexes containing lists of legal forms, national identifiers, and international organizations. February 02, 2018 WebPage Regulatory News
News EIOPA Q&A on Regulations: First Update for January 2018 EIOPA published new sets of questions and answers (Q&A) on guidelines on systemic governance, along with the implementing and delegating regulations applicable to insurers in Europe. February 02, 2018 WebPage Regulatory News
News ESMA Publishes Response of EC on Money Market Fund Regulation in EU ESMA published a letter by EC on the money market fund (MMF) regulation. February 02, 2018 WebPage Regulatory News
News ESMA Publishes Results of the Second EU-Wide CCP Stress Test ESMA published a report on the results of the second stress test exercise on central counterparties (CCPs) established in the EU, in addition to a Question and Answer (Q&A) document on the CCP stress test. February 02, 2018 WebPage Regulatory News
News HKMA Finalizes Banking Amendment Ordinance 2018 HKMA notified that the Banking (Amendment) Ordinance 2018 (BAO 2018) has been published in the Gazette and was passed by the Legislative Council on January 24, 2018. February 02, 2018 WebPage Regulatory News
News OCC Proposes Revisions to the Form DFAST-14A on Stress Testing OCC is consulting on revision to a regulatory reporting requirement for national banks and federal savings associations. February 02, 2018 WebPage Regulatory News
News EC Launches the EU Blockchain Observatory and Forum EC launched the EU Blockchain Observatory and Forum with the support of European Parliament. The Observatory and Forum will highlight key developments of the blockchain technology, promote European actors, and reinforce European engagement with multiple stakeholders involved in blockchain activities. February 01, 2018 WebPage Regulatory News
News EIOPA Consults on Standards Adapting Base Euro Amounts Under IDD EIOPA published a consultation paper on draft regulatory technical standards adapting the base euro amounts for professional indemnity insurance (PII) and for financial capacity of intermediaries under the Insurance Distribution Directive (IDD). February 01, 2018 WebPage Regulatory News
News ESMA Announces Date for Issuing Results of CCP Stress Tests in EU ESMA announced that it plans to publish, on February 02, 2018, the results of its second EU-wide stress test exercise for central counterparties (CCPs) established in the EU. February 01, 2018 WebPage Regulatory News
News FED Releases Scenarios and Instructions for the 2018 CCAR and DFAST FED released the scenarios that banks and supervisors will use for the 2018 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises. February 01, 2018 WebPage Regulatory News
News IOSCO Issues Reports on Liquidity Risk Management for Investment Funds IOSCO issued a report on recommendations and good practices to improve liquidity risk management of open-ended collective investment schemes. February 01, 2018 WebPage Regulatory News
News FIN-FSA Amends Regulations Due to National Transposition of MiFID II FIN-FSA amended certain regulations and guidelines due to the national transposition of the Markets in Financial Instruments Directive II (MiFID II: Directive 2014/65/EU). February 01, 2018 WebPage Regulatory News
News APRA Outlines its Policy Priorities for 2018 APRA released an information paper that outlines its policy priorities for 2018 in the areas of banking, insurance, and cross-industry initiatives. January 31, 2018 WebPage Regulatory News
News SNB Revises Reporting Forms for Liquidity Monitoring Tools SNB revised the liquidity monitoring tool forms for group or single entity reporting. The revised forms are for FINMA supervisory categories 3 to 5 (valid from March 31, 2018). January 31, 2018 WebPage Regulatory News
News DNB Issues Banking Newsletter for January 2018 The recent issue covers updates related to the thematic research on management of risks in the field of terrorist financing, the regulation on controlled remuneration policy 2017, the new DNB statistics website, and the survey/QIS calendar for banks. January 31, 2018 WebPage Regulatory News
News DNB Issues Insurance Newsletter for January 2018 This issue highlights that a limited group of smaller and less complex insurers can request an exemption for their quarterly reports from DNB. January 31, 2018 WebPage Regulatory News
News EBA Launches the 2018 EU-Wide Stress Test Exercise EBA launched the 2018 EU-wide stress test and released the macroeconomic scenarios. January 31, 2018 WebPage Regulatory News
News ECB to Stress Test 37 Banks Under the 2018 EU-Wide EBA Stress Test The 2018 EU-wide stress test is being launched and ECB announced that it will examine 37 euro area banks as part of this exercise. EBA will coordinate the EU-wide exercise in cooperation with the ECB and national authorities. January 31, 2018 WebPage Regulatory News
News EC Issues Report on Recommendations for Sustainable Financing in EU EC published a report that sets out strategic recommendations for a European financial system that supports sustainable investments. EC welcomes this report by its High-Level Expert Group on Sustainable Finance. January 31, 2018 WebPage Regulatory News
News IMF Publishes Reports on the 2017 Article IV Consultation with Uruguay IMF published its staff report and selected issues report in the context of the 2017 Article IV consultation with Uruguay. January 31, 2018 WebPage Regulatory News
News PRA Updates Instructions on PRA102 and PRA103 Capital+ Forecast PRA updated the instructions on filling in data points in the reporting forms PRA102 Capital+ forecast and PRA103 Capital+ forecast. January 31, 2018 WebPage Regulatory News
News Bank of Finland Publishes AnaCredit Updates in January 2018 Bank of Finland published the updated Version 1.4 of the description of electronic reporting for credit data collection under the AnaCredit regulation. January 31, 2018 WebPage Regulatory News
News BDE Issues Circular on Guarantee Fund of Deposits in Spain BDE issued Circular 1/2018, which modifies Circulars 5/2016 and 8/2015 and enters into force on the day following its publication in the Official State Gazette. January 31, 2018 WebPage Regulatory News
News CBRC Publishes Comments on Intermediate Parent Undertakings Proposal CBRC published a joint comment letter on the proposals from EC to further strengthen the resilience of EU banks; this relates particularly to Article 21b of the Capital Requirement Directive (CRD) that requires non-EU groups above certain threshold to establish intermediate EU parent undertakings (IPU) in the EU. January 30, 2018 WebPage Regulatory News
News GAO Report on the Need to Enhance Procedures for Reviews Under RFA The U.S. GAO published an annual report examining the extent to which, and how, financial regulators performed the required Regulatory Flexibility Act (RFA) analyses and established policies and procedures for complying with the RFA requirements, among other objectives. January 30, 2018 WebPage Regulatory News
News EIOPA Publishes the Updated Work Program for 2018 EIOPA published the updated work program for 2018. The work program highlights and specifies the planned activities and tasks of EIOPA for the coming year, within the framework of a multiannual work program for 2017-2019. January 30, 2018 WebPage Regulatory News
News BCBS Chairman Speaks on Implementation and Effectiveness of Basel III The BCBS Chairman Stefan Ingves spoke about implementation of Basel III during his keynote address at the Institute for Law and Finance conference in Frankfurt. He highlighted that "finalizing Basel III was an important milestone." January 29, 2018 WebPage Regulatory News
News IAIS Issues Insurance Newsletter for January 2018 IAIS published the January issue of its newsletter. The Secretary General explains that 2018 will be an important year for IAIS. It is slated to make key decisions on the design of ICS Version 2.0 and on the development of a holistic approach to the mitigation of systemic risk in the global insurance sector. January 29, 2018 WebPage Regulatory News
News IMF Reports on the 2017 Article IV Consultation with Malta IMF published its staff report and selected issues report in context of the 2017 Article IV consultation with Malta. January 29, 2018 WebPage Regulatory News
News OCC Proposes to Renew Information Collection on Credit Risk Retention The OCC is soliciting comments on the renewal of its information collection on Credit Risk Retention. January 29, 2018 WebPage Regulatory News
News OSFI Issues Information Guide on Solvency Information Return OSFI published an information guide to assist administrators of pension plans, which are registered or have filed an application for registration under the Pension Benefits Standards Act 1985 (PBSA) in completing the Solvency Information Return (SIR) that is required to be filed with the OSFI. January 29, 2018 WebPage Regulatory News
News OSFI Published Reporting Requirements for OSFI-525 and OSFI-590 To streamline the filing process, OSFI will be requesting that federally regulated financial institutions (FRFIs) begin filing the OSFI 525 and OSFI 590 as unstructured returns via the Regulatory Reporting System effective February 2018 (returns due March 15, 2018). January 29, 2018 WebPage Regulatory News
News Sabine Lautenschläger of ECB Speaks on the Finalization of Basel III Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, spoke on the finalization of Basel III. January 29, 2018 WebPage Regulatory News
News US Agencies Complete Assessment of Resolution Plans of Foreign Banks US Agencies (FDIC and FED) communicated their expectations about the next resolution plans to 19 foreign-based banking organizations. January 29, 2018 WebPage Regulatory News
News CBE Circular on Regulation Related to the Implementation of IFRS 9 CBE published circular on regulation related to the implementation of IFRS 9. January 28, 2018 WebPage Regulatory News
News EBA Single Rulebook Q&A: Second Update for January 2018 One question related to recovery and resolution was published as part of the Single Rulebook Q&A this week. January 26, 2018 WebPage Regulatory News
News IAIS Publishes FAQ on the Implementation of ICS Version 2.0 IAIS published responses to the frequently asked questions (FAQ) on the implementation of ICS Version 2.0. January 26, 2018 WebPage Regulatory News
News IASB Provides Material on Implementing IFRS 17 for Insurance Contracts IASB published an article outlining the information and support available to national standard-setters and regulators planning for implementation of IFRS 17 Insurance Contracts. January 26, 2018 WebPage Regulatory News
News IMF Publishes Reports on the 2017 Article IV Consultation with Kuwait IMF published its staff report and selected issues report in context of the 2017 Article IV consultation with Kuwait. January 26, 2018 WebPage Regulatory News
News SBIF Extends Consultation Period for Provisions of Credit Risk SBIF is extending the consultation period on the regulation on the standard method for estimating the provisions for credit risk of the commercial portfolio of group analysis until March 16, 2018. January 25, 2018 WebPage Regulatory News
News EBA to Launch the 2018 EU-Wide Stress Test on January 31, 2018 EBA announced that it will formally launch the 2018 EU-wide stress test on January 31, 2018, at 5pm UK time. EBA will also publish the common macroeconomic scenarios for this exercise. January 24, 2018 WebPage Regulatory News
News Andreas Dombret of Bundesbank on Addressing Proportionality in Europe Dr Andreas Dombret of Deutsche Bundesbank spoke in Cape Town about the the importance of proportionality in regulation at the European as well as the international level. He emphasized that "The success of Basel III depends crucially on whether or not we get the implementation right." January 24, 2018 WebPage Regulatory News
News EC Consults on Amendments to Liquidity Coverage Requirements for Banks EC published a draft version of the commission delegated regulation amending Delegated Regulation (EU) 2015/61 of October 10, 2014 to supplement Capital Requirements Regulation (CRR or EU Regulation No 575/2013) with regard to liquidity coverage requirement for credit institutions. January 24, 2018 WebPage Regulatory News
News EP Issues Impact Assessment on Authorization and Recognition of CCPs EP issued a briefing on the initial appraisal of an EC impact assessment on authorization of central counterparties (CCPs) and recognition of third-country CCPs under European Market Infrastructure Regulation (EMIR or Regulation (EU) No 648/2012). January 24, 2018 WebPage Regulatory News
News FCA Consults on Handbook Changes Related to European MMF Regulation FCA published the consultation paper CP18/4 on changes to FCA Handbook to ensure that it is consistent with the requirements of the EU Money Market Funds (MMF) Regulation. January 24, 2018 WebPage Regulatory News
News FED Issues Federal Register Notices on FR Y-9C and Regulation QQ FED published the final Federal Register notice adopting a proposal to extend for three years, with revision, the FR Y-9C reporting form, among others. FED also posted initial Federal Register notice inviting comments on a proposal to extend, with revision, the mandatory reporting requirements associated with Regulation QQ. January 24, 2018 WebPage Regulatory News
News IMF Paper on Tool for Measuring Systemic Risk and Interconnectedness IMF published a working paper that presents the Systemic Risk and Interconnectedness (SyRIN) tool. The framework is designed to be a tool to identify vulnerabilities from a top-down perspective that can lead to deeper analysis in specific sectors for policy formulation. January 24, 2018 WebPage Regulatory News
News IMF Publishes Reports on the 2017 Article IV Consultation with Egypt IMF released its staff report and selected issues report for the Arab Republic of Egypt. January 23, 2018 WebPage Regulatory News
News EP Publishes a Working Document on Proposed Amendments to ESFS European Parliament (EP) published a working document on proposals to amend the European System of Financial Supervision (ESFS). January 23, 2018 WebPage Regulatory News
News IMF Releases Reports on 2017 Article IV Consultation with Hong Kong IMF published staff report and selected issues report in context of the 2017 Article IV consultation with People’s Republic of China—Hong Kong Special Administrative Region (SAR). January 22, 2018 WebPage Regulatory News
News SEC Chairman on Completing Mandates of Dodd Frank Rulemaking During the opening remarks at the Securities Regulation Institute in Washington DC, the SEC Chairman Jay Clayton discussed the expectations for market professionals when dealing with new products or new forms of old products, specifically in the Initial Coin Offering (ICO) space. January 22, 2018 WebPage Regulatory News
News Bundesbank Publishes List of Deactivated Validation Rules Deutsche Bundesbank published a list of validation rules from Annex XV of the EBA Implementing Technical Standards on supervisory reporting, which have been deactivated from a national point of view. January 22, 2018 WebPage Regulatory News
News MAS Amends Notice 610 on Submission of Statistics and Returns MAS amended Notice 610 regarding Submission of Statistics and Returns. January 22, 2018 WebPage Regulatory News
News EBA Lists Credit Institutions Subject to LCR Inflow Cap Derogation EBA published an updated list of credit institutions exempted from, or subject to, a higher cap on inflows in the calculation of the Liquidity Coverage Ratio (LCR); this is in accordance with the provisions laid down in the LCR Delegated Act. January 19, 2018 WebPage Regulatory News
News ESMA Updates Transparency Calculations for MiFID II/MiFIR ESMA published an extended version of the MiFID II/MiFIR transitional transparency calculations (TTCs) for equity and bond instruments, adding further instruments. January 19, 2018 WebPage Regulatory News
News Randal K. Quarles of FED Speaks on Improving Post-Crisis Regulations Randal K. Quarles, the FED Vice Chairman for Supervision, talked about evaluating and improving the post-crisis regulatory regime and outlined the emerging focus areas. January 19, 2018 WebPage Regulatory News
News SRB Issues Final Documents for the 2018 Liability Data Reporting SRB published the finalized documents for the 2018 Liability Data Reporting (LDR) process, along with a minor correction in the validation tool. January 19, 2018 WebPage Regulatory News
News IMF Report on Detailed Assessment of Observance of BCPs in India IMF published report on the Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision (BCPs), as part of the Financial Sector Assessment Program (FSAP) on India. January 19, 2018 WebPage Regulatory News
News FCA Publishes PS18/1 on Feedback to CP17/33 on Implementation of IDD FCA published the policy statement PS18/1, which sets out response to the feedback received to third consultation paper, CP17/33, on the Insurance Distribution Directive (IDD). January 19, 2018 WebPage Regulatory News
News EC Issues First Progress Report on Reduction of NPLs in EU Banks EC published the first progress report on tackling nonperforming loans (NPLs) in the EU. January 18, 2018 WebPage Regulatory News
News IOSCO Issues Statement on Concerns Related to Initial Coin Offerings IOSCO issued a communication on concerns related to the Initial Coin Offerings (ICOs). January 18, 2018 WebPage Regulatory News
News ESMA Consults on Contracts for Differences and Binary Options Measures ESMA published a call for evidence on potential product intervention measures related to the provision of contracts for differences (CFDs), including rolling spot forex and binary options to retail investors. January 18, 2018 WebPage Regulatory News
News OCC Report on Key Risks for the Federal Banking System OCC published its report titled Semiannual Risk Perspective for Fall 2017. The report highlights credit, operational, and compliance risks as key concerns for the federal banking system. January 18, 2018 WebPage Regulatory News
News ACPR Issues the COREP Taxonomy Version 2.7.0.1 Under CRR ACPR launched the taxonomy version 2.7.0.1 SUBCON under the Capital Requirements Regulation (CRR or Regulation 575/2013). January 18, 2018 WebPage Regulatory News
News SBIF Releases Technical Note on Fintech SBIF published a technical note on financial technology in the context of banking regulations and financial stability. January 18, 2018 WebPage Regulatory News
News EBA Report on Implementation of Guidelines on DGS Calculation Methods EBA published a report on the implementation of the guidelines on methods for calculating contributions to deposit guarantee schemes (DGSs). The report assesses authorities' compliance with the principles outlined in the EBA guidelines. January 17, 2018 WebPage Regulatory News
News HKMA Consults on Loss-Absorbing Capacity Requirements for Banks HKMA launched a two-month public consultation on a set of proposed rules related to loss-absorbing capacity (LAC) requirements for authorized institutions under the Financial Institutions (Resolution) Ordinance (Cap. 628). January 17, 2018 WebPage Regulatory News
News OSFI Issues Letter on 2016-17 ICAAP and Next ICAAP Submissions OSFI issued a letter that provides feedback on the 2016-17 Internal Capital Adequacy Assessment Process (ICAAP) Submission. January 17, 2018 WebPage Regulatory News
News PRA Postpones Introduction of the Liquidity Reporting Template PRA 110 PRA is postponing introduction of the new liquidity reporting template PRA110 by six months—from January 01, 2019 to July 01, 2019. This follows the consideration of responses to the consultation paper CP13/17 on Pillar 2 liquidity. January 17, 2018 WebPage Regulatory News
News EBA Issues Updated Risk Dashboard for Third Quarter of 2017 EBA published an updated risk dashboard for the third quarter of 2017, along with the results from the Risk Assessment Questionnaire. January 16, 2018 WebPage Regulatory News
News IMF Publishes Reports on the 2017 Article IV Consultation with Croatia IMF published staff report and selected issues report in context of the 2017 Article IV consultation with Croatia. January 16, 2018 WebPage Regulatory News
News ECB Publishes a Working Paper on Macro-Prudential Regulation in EU The paper introduces a new comprehensive data set on policies of a macro-prudential nature in the banking sectors of the 28 member states of the EU. January 15, 2018 WebPage Regulatory News
News BCL Updates Instructions and Validation Rules for AnaCredit Reporting BCL updated the reporting instructions, validation rules, technical specifications for collection, and list of reporting agents for AnaCredit. BCL also published updated reference documents related to AnaCredit that include lists of legal forms, national identifiers, and international organizations. January 15, 2018 WebPage Regulatory News
News EBA Guidelines on Disclosure Rules of IFRS 9 Transitional Arrangements EBA published the final guidelines on disclosure requirements of IFRS 9 or analogous expected credit losses (ECLs) transitional arrangements. January 12, 2018 WebPage Regulatory News
News EBA Single Rulebook Q&A: First Update for January 2018 The key topics covered in the updates are related to supervisory reporting, treatment of Physical Stock balances, coins and banknotes in counterbalancing capacity, reporting of individuals/households names, prices for various lengths of funding-currency spreads, and concentration of funding by counterparties. January 12, 2018 WebPage Regulatory News
News OSFI Revises the Capital Floor for Banks OSFI revised the capital floor that will set a minimum on the required regulatory capital for banks using internal models, relative to the Basel II standardized approach. January 12, 2018 WebPage Regulatory News
News Bundesbank Updates Guidelines and Q&A on Money Market Statistics Deutsche Bundesbank updated the guidelines and questions and answers (Q&A) on money market statistics. January 12, 2018 WebPage Regulatory News
News ESMA Issues Report on Fees Charged by CRAs and Trade Repositories ESMA published a thematic report on fees charged by credit rating agencies (CRAs) and trade repositories. The thematic report identifies the areas for improvement regarding transparency and disclosure, the fee-setting process, and the interaction with entities related to CRAs and trade repositories. January 11, 2018 WebPage Regulatory News
News HKMA Finalizes Return for Stable Funding Position of a Bank HKMA finalized the Return of Stable Funding Position (Return MA(BS)26) of an authorized institution, along with the associated completion instructions, after consultation with the two industry associations. January 11, 2018 WebPage Regulatory News
News HKMA Publishes Consultation Paper on Open API Framework for Banks HKMA issued a consultation on Open Application Programming Interfaces (API) framework. The consultation sets out the intended approach of HKMA to Open API for the banking industry in Hong Kong. January 11, 2018 WebPage Regulatory News
News IASB Issues IFRS Taxonomy Update for IFRS 17 on Insurance Contracts IASB issued an update to the IFRS Taxonomy 2017 for IFRS 17, the standard on Insurance Contracts. January 11, 2018 WebPage Regulatory News
News PRA Proposes Changes to Reporting Requirements for Insurers PRA published the consultation paper CP2/18 that proposes a number of regulatory reporting changes designed to reduce the burden for Solvency II firms and mutuals while maintaining the ability of PRA to meet its statutory objectives and to supervise firms. January 11, 2018 WebPage Regulatory News
News SBIF Consults on Modifications to Provisions of Credit Risk for Banks SBIF is consulting on the standard method for estimating the provisions for credit risk of the commercial portfolio of group analysis. January 11, 2018 WebPage Regulatory News
News PRA Publishes Letter on Transition Disclosures for the IFRS 9 Standard PRA published a letter sent to the CFOs of selected firms on transition disclosures for the IFRS 9 standard on Financial Instruments. January 11, 2018 WebPage Regulatory News
News APRA Releases Response to Submissions and Final ARS 223.0 for Banks APRA released a response to submissions and final reporting standard ARS 223.0 on residential mortgage lending reporting requirements for authorized deposit-taking institutions. January 10, 2018 WebPage Regulatory News
News HKMA Announces Increase in Jurisdictional CCyB Ratio for Hong Kong HKMA announced that the countercyclical capital buffer (CCyB) for Hong Kong will increase to 2.5% from the current 1.875%. January 10, 2018 WebPage Regulatory News
News Minneapolis Fed Releases Final Minneapolis Plan to End Too Big to Fail The Federal Reserve Bank of Minneapolis (Minneapolis Fed) released the final Minneapolis Plan to end too-big-to-fail (TBTF). January 10, 2018 WebPage Regulatory News
News Carolyn Rogers of OSFI on Basel III Lessons and Future Path for Canada Carolyn Rogers of OSFI discussed the lessons of Basel III and the path ahead for Canada while addressing the audience at the 2018 RBC Capital Markets Canadian Bank CEO Conference in Toronto. January 09, 2018 WebPage Regulatory News
News ESMA Exempts Certain Trading Venues from Open Access Under MiFIR ESMA published a list of the trading venues for which a temporary exemption from the open access provisions under 36(5) of the Markets in Financial Instruments Regulation (MiFIR) exists. January 09, 2018 WebPage Regulatory News
News ESMA Decides to Delay Publication of Double Volume Cap Data ESMA decided to delay publication of data on the double volume cap (DVC) mechanism for January 2018. January 09, 2018 WebPage Regulatory News
News ESMA Issues Position Management Controls for Commodity Derivatives ESMA issued the first badge of position management controls under the Markets in Financial Instruments Directive (MiFID II). January 09, 2018 WebPage Regulatory News
News ESMA Issues Register of Derivatives to be Traded On-Venue Under MiFIR ESMA published a public register of the derivative contracts that are subject to the trading obligation under the Markets in Financial Instruments Regulation (MiFIR). January 09, 2018 WebPage Regulatory News
News U.S. Senate Committee Hearing on Combating Money Laundering The Committee on Banking, Housing, and Urban Affairs met in Open Session to conduct a hearing entitled, “Combating Money Laundering and Other Forms of Illicit Finance: Opportunities to Reform and Strengthen BSA Enforcement.” January 09, 2018 WebPage Regulatory News
News BoE Issues Updated BEEDS User Guide and Solvency II XBRL Filing Manual BoE published the updated Bank of England Electronic Data Submission (BEEDS) user guide to reflect system changes relevant to firms using the User Acceptance Testing (UAT) environment. BoE also published the updated Solvency II XBRL filing manual. January 08, 2018 WebPage Regulatory News
News ESMA Consults On CCP Anti-Procyclicality Margin Measures ESMA is consulting on draft guidelines on anti-procyclicality margin measures for central counterparties (CCPs). The guidelines aim to clarify the implementation of anti-procyclicality provisions for CCPs under the European Markets Infrastructure Regulation (EMIR). January 08, 2018 WebPage Regulatory News
News PRA Publishes Consultation Paper on MREL Reporting PRA published the consultation paper CP1/18 that proposes PRA expectations for reporting on the minimum requirement for own funds and eligible liabilities (MREL) through updates to the supervisory statement SS19/13 on resolution planning. January 08, 2018 WebPage Regulatory News
News US Agencies Propose to Revise Call Reports FFIEC 051, 041, and 031 US Agencies (OCC, FED, and FDIC) proposed revisions to three Consolidated Reports of Condition and Income (Call Reports)—FFIEC 051, FFIEC 041, and FFIEC 031. The proposed revisions to these Call Reports would result in an overall reduction in burden for the reporting entities. January 08, 2018 WebPage Regulatory News
News CBRC Consults on Measures for Managing Large Exposures of Banks CBRC is consulting on measures for the management of large exposures of commercial banks. Comments are due by February 04, 2018. January 05, 2018 WebPage Regulatory News
News BoE Paper on Exploiting Big Data for Systemic Risk Assessment BoE published a working paper that applies algorithmic analysis to large amounts of financial market text-based data to assess how narratives and sentiment play a role in driving developments in the financial system. January 05, 2018 WebPage Regulatory News
News CBRC Issues Interim Measures for Management of Commercial Bank Equity The measures are intended to strengthen equity management of commercial banks, standardize the behavior of shareholders of commercial banks, and make up for the shortcomings of regulation. January 05, 2018 WebPage Regulatory News
News CBRC Solicits Opinions on Rules on Entrusted Loans of Commercial Banks CBRC is soliciting opinions on the Management Rules of Entrusted Loans of Commercial Banks. The rules are intended to further standardize the management of entrusted loans and promote sound development of entrusted loan businesses of commercial banks. January 05, 2018 WebPage Regulatory News
News FASB Proposes Improvements to Implementation of Leases Standard FASB issued a proposed Accounting Standards Update (ASU) that is intended to reduce costs and ease implementation of the Leases standard for financial statement preparers. Comment on the proposed improvements are due by February 05, 2018. January 05, 2018 WebPage Regulatory News
News HKMA Circular on Disclosures on Sale of non-SFO Structured Products HKMA published a circular on enhanced disclosure requirements on sale of structured products not regulated by the Securities and Futures Ordinance (SFO). January 05, 2018 WebPage Regulatory News
News JFSA Consults on Its Draft Report on Supervisory Approaches The Financial Services Agency of Japan (JFSA) has issued the English translation of its draft report on the supervisory approaches and calls for public comments by February 14, 2018. January 05, 2018 WebPage Regulatory News
News IOSCO Statement on Matters to be Considered for Use of Benchmarks IOSCO published a statement setting out matters for users of financial benchmarks to consider in selecting an appropriate benchmark and in contingency planning, particularly for scenarios in which a benchmark is no longer available. January 05, 2018 WebPage Regulatory News
News OJK Consults on Regulation on Structured Products for Commercial Banks OJK, the Financial Services Authority of Indonesia, published a draft regulation of Authority of Financial Services Number/POJK.03/2018, which amends regulation of Authority of Financial Services Number 7/POJK.03/2016 on the prudential principles in implementing structured products for commercial banks. January 05, 2018 WebPage Regulatory News
News ESMA Makes Available MiFID II and MiFIR Data on Its Website ESMA, in cooperation with the national competent authorities in the European Economic Area, has overseen the launch of the Markets in Financial Instruments Directive II (MiFID II) and the Markets in Financial Instruments Regulation (MIFIR). January 04, 2018 WebPage Regulatory News
News FED Consults on Risk Management Expectations for Large Institutions FED is requesting comments on the proposed guidance that would clarify its supervisory expectations related to risk management for large financial institutions. January 04, 2018 WebPage Regulatory News
News MAS Consults on Regulatory Framework for Large Exposures of Banks MAS is seeking feedback on proposed revisions to the regulatory framework for large exposures of Singapore-incorporated banks. January 03, 2018 WebPage Regulatory News
News FSB Publishes Governance Arrangements and Implementation Plan for UTI FSB published the conclusions of FSB on governance arrangements for the Unique Transaction Identifier (UTI), along with a recommended implementation plan for these arrangements. January 02, 2018 WebPage Regulatory News
News FED Consults on Revisions to the Reporting Form FR Y-9C FED invites comment on a proposal to extend for three years, with revision, the mandatory Financial Statements for Holding Companies (FR Y-9). Comments must be submitted on or before March 05, 2018. January 02, 2018 WebPage Regulatory News
News RBNZ Updates Framework for Restrictions on High LVR Mortgage Lending RBNZ updated the framework for restrictions on high loan-to-valuation ratio (LVR) residential mortgage lending. The framework sets out the RBNZ framework for imposing quantitative restrictions on the share of high LVR loans by registered banks to the residential property sector. January 02, 2018 WebPage Regulatory News
News RBNZ Updates Policy on Liquidity Risk Management by Banks RBNZ updated its liquidity policy for the management of liquidity risk by registered banks. January 02, 2018 WebPage Regulatory News
News BaFin on Transfer of Newly Issued Shares in Cooperative Banks BaFin published a general order that regulates how newly issued shares in cooperative banks, with the permission of the BaFin, can be classified as instruments of common equity tier 1 (CET1) capital. January 02, 2018 WebPage Regulatory News
News AMF Amends Guideline on Capital Adequacy Requirements for P&C Insurers AMF published the revised guideline on capital adequacy requirements (CAR) for property and casualty (P&C) insurance companies. This updated guideline has been effective as of January 01, 2018. January 01, 2018 WebPage Regulatory News
News AMF Revised Capital Adequacy Requirement Guidelines for Insurers AMF published the revised guideline on capital adequacy requirements (CAR) for life and health insurers. The updated guideline is effective as of January 01, 2018. January 01, 2018 WebPage Regulatory News
News MAS Amends Notice 612 on ECL Recognition in Bank Financial Statements The Notice also addresses the requirements for recognition of credit loss allowance for expected credit losses (ECL) in the financial statements of banks. December 29, 2017 WebPage Regulatory News
News CBRC on Capital Approach to Strengthen Supervision of Asset Companies CBRC published a notice on the Administrative Measures to strengthen the capital supervision of financial asset management companies and to safeguard the stable operation of these asset companies. These measures enter into force on January 01, 2018. December 29, 2017 WebPage Regulatory News
News HKMA Updates List of Banks Designated as D-SIBs in Hong Kong HKMA has completed its annual assessment of the list of domestic systemically important authorized institutions (D-SIBs). December 29, 2017 WebPage Regulatory News
News IMF Publishes Reports on 2017 Article IV Consultation with Argentina IMF published staff report and selected issues report in context of the 2017 Article IV consultation with Argentina. December 29, 2017 WebPage Regulatory News
News APRA Issues List of Direct to APRA Validation Rules for Banks APRA published list of the latest Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, including banks, building societies, and credit unions. December 29, 2017 WebPage Regulatory News
News Bank of Finland Publishes Updates for AnaCredit in December 2017 Bank of Finland published the updated Version 2.3 of its preliminary AnaCredit requirements, along with the updated description of electronic reporting for credit data collection. December 29, 2017 WebPage Regulatory News
News FED Publishes Federal Notices and Updates Multiple Reporting Forms FED published the final Federal Register notice adopting a proposal to extend for three years, without revision, the reporting requirements associated with Regulation XX Concentration Limit (FR XX) and Financial Company (as defined) Report of Consolidated Liabilities (FR XX-1). December 28, 2017 WebPage Regulatory News
News MAS Amends Disclosure Requirements Under Notices 637, 651, and 653 MAS published amendments to disclosure requirements under MAS Notices 637, 651, and 653, along with its response to the feedback received on the proposed amendments to these notices. December 28, 2017 WebPage Regulatory News
News MAS Amends Notice 637 on Capital Requirements for Banks in Singapore MAS amended Notice 637 on risk-based capital adequacy requirements for banks incorporated in Singapore. December 28, 2017 WebPage Regulatory News
News MAS Publishes Notice 653 on Net Stable Funding Ratio Disclosures MAS published Notice 653 that sets out requirements for a domestic systemically important bank (D-SIB) to disclose quantitative and qualitative information about its Net Stable Funding Ratio (NSFR). December 28, 2017 WebPage Regulatory News
News CBRC Consults on Licensing Measures for Foreign Funded Banks CBRC is consulting the public on amendments to its decision on implementing administrative measures for foreign-funded banks. December 28, 2017 WebPage Regulatory News
News EC Amends CRR With Respect to Capital Treatment of STS Securitization EC published Regulation (EU) 2017/2401 on prudential requirements for credit institutions and investment firms. December 28, 2017 WebPage Regulatory News
News EC Finalizes Regulation on Framework for STS and Other Securitizations EC published EU Regulation 2017/2402, which lays down a general framework for securitization and creates a specific framework for simple, transparent, and standardized (STS) securitization. December 28, 2017 WebPage Regulatory News
News IFSB Issues Paper on Recovery, Resolution, and Insolvency of IIFS IFSB issued a working paper (WP-07) on recovery, resolution, and insolvency issues for Institutions offering Islamic Financial Services (IIFS). December 27, 2017 WebPage Regulatory News
News EC on Ranking of Unsecured Debt Instruments in Insolvency Hierarchy EC published Directive (EU) 2017/2399 on the ranking of unsecured debt instruments in insolvency hierarchy. December 27, 2017 WebPage Regulatory News
News EC Rules on Transitional Arrangements for Mitigating Impact of IFRS 9 EC published Regulation (EU) 2017/2395 on transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public-sector exposures denominated in the domestic currency of any member state. December 27, 2017 WebPage Regulatory News
News EBA Issues Opinion on the Use of 180 Day Past Due Criterion EBA issued an advice to EC on the appropriateness of continuing to apply the 180 day past due (DPD) exemption for material exposures. December 22, 2017 WebPage Regulatory News
News EBA Single Rulebook Q&A: Fourth Update for December 2017 The Single Rulebook Q&A updates for the week include four items, which are related to own funds requirements and supervisory reporting of institutions. December 22, 2017 WebPage Regulatory News
News FINMA Proposes Updates to Circulars on Credit Risk and Leverage Ratio FINMA proposed updates to the banking circulars on credit risk (Circular 2017/7) and leverage ratio (Circular 2015/3), with the aim to reflect the amended Capital Adequacy Ordinance. December 22, 2017 WebPage Regulatory News
News IMF Report on Shadow Banking and Market Discipline in Banks IMF published a working paper on shadow banking and market discipline on traditional banks. The paper proposes a framework in which depositors may withdraw their deposits early in reaction to crises. December 22, 2017 WebPage Regulatory News
News BDE Amends Circular on Transparency and Liability of Banking Services BDE published Circular 5/2017 on transparency of banking services and liability in granting loans. Annex 8 of Circular 5/2017 modifies Sections 4 and 6 of Annex 8 of Circular 5/2012 of June 27 to credit institutions and payment service providers. December 22, 2017 WebPage Regulatory News
News BCBS Proposes Technical Amendment to Net Stable Funding Ratio BCBS published its first proposed technical amendment, which is related to the treatment of extraordinary monetary policy operations in the net stable funding ratio (NSFR). December 21, 2017 WebPage Regulatory News
News FSB on Assessment Methodology for Key Attributes of Resolution Regimes FSB published a consultation paper on the methodology for assessing the implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions in the insurance sector. December 21, 2017 WebPage Regulatory News
News EIOPA Publishes Report on LTG Measures and Measures on Equity Risk EIOPA published its second annual report 2017 on Long-Term Guarantee (LTG) measures and measures on equity risk. This report analyzes the impact of measures on the financial position of all (re)insurance undertakings from the European Economic Area. December 21, 2017 WebPage Regulatory News
News SNB Updates Validation Rules for Liquidity Monitoring Tools Reporting SNB updated validation rules for the Liquidity Monitoring Tools (LMT) reporting at both the group and single entity levels. December 21, 2017 WebPage Regulatory News
News EIOPA Issues Opinion on Service Continuity in the Context of Brexit EIOPA issued an Opinion on service continuity in light of the withdrawal of the UK from the EU. December 21, 2017 WebPage Regulatory News
News EIOPA on Use of CAOs and Limitations from Supervisory Reporting EIOPA published annual reports on the use of exemptions and limitations from the regular supervisory reporting and on the use of capital add-ons by national competent authorities. December 21, 2017 WebPage Regulatory News
News ESMA Updates Its CFI Validations for MiFID II ESMA published the updated Classification of Financial Instruments (CFI) validation document relevant for data reporting under the Markets in Financial Instruments Directive (MiFID II). December 21, 2017 WebPage Regulatory News
News ESMA Review on Supervision of Default Management Procedures of CCPs ESMA issued the results of a peer review it conducted into how national competent authorities ensure that central counterparties (CCPs) comply with requirements under the European Markets Infrastructure Regulation (EMIR). December 21, 2017 WebPage Regulatory News
News FASB Publishes the 2018 GAAP Financial Reporting Taxonomy FASB announced the availability of the 2018 GAAP Financial Reporting Taxonomy and the 2018 SEC Reporting Taxonomy (SRT). December 21, 2017 WebPage Regulatory News
News IMF Publishes FSSA Report for India Under the FSAP The report highlights that increased diversification, commercial orientation, and technology-driven inclusion have supported growth in the financial industry, backed by improved legal, regulatory, and supervisory frameworks. December 21, 2017 WebPage Regulatory News
News OFR G-SIB Scores Chart Shows Rising Systemic Importance of Asian Banks An article by the OFR Deputy Director for Research and Analysis Stacey Schreft highlights that new data on the world’s largest banks show the increasing systemic importance of Asian banks. December 21, 2017 WebPage Regulatory News
News BCBS Examines Best Practices and Consults on Stress Testing Principles BCBS released a consultative document on stress testing principles, along with a range of practices report on supervisory and bank stress testing. BCBS welcomes comments on all aspects of the proposed principles and comments are due by March 23, 2018. December 20, 2017 WebPage Regulatory News
News EC on Proportionate and Risk-Sensitive Rules for Investment Firms EC proposed a two-track overhaul to make life simpler for smaller investment firms, while bringing the largest, systemic ones under the same regime as European banks. December 20, 2017 WebPage Regulatory News
News MAS Amends Notice 652 on NSFR to Delay Implementation of RSF Add-On MAS amended Notice 652 on the Net Stable Funding Ratio (NSFR) under Basel III. The amendment facilitates delay in the implementation of the Required Stable Funding (RSF) add-on for derivative liabilities, until further notice by MAS. December 20, 2017 WebPage Regulatory News
News EBA Publishes an Updated Quantitative Analysis on MREL EBA published an updated quantitative analysis on the minimum requirement for own funds and eligible liabilities (MREL). December 20, 2017 WebPage Regulatory News
News EBA Publishes Final Report on Recommendations on Cloud Outsourcing EBA published final guidance on the use of cloud service providers by financial institutions. December 20, 2017 WebPage Regulatory News
News EBA Publishes Impact Assessment of Basel Reforms on EU Banks The report presents aggregate data on EU banks and assumes full implementation of the final Basel III framework, as endorsed by the Group of Central Bank Governors and Heads of Supervision (GHoS). December 20, 2017 WebPage Regulatory News
News EC Proposes to Amend Application Date of IDD and Related Regulations EC proposed a Directive to amend the Insurance Distribution Directive, or IDD, (Directive 2016/97) with respect to the date of application of transposition measures of member states. December 20, 2017 WebPage Regulatory News
News EC Publishes Regulation on Transmission of Information Under MiFID II EC published the Commission Implementing Regulation (EU) 2017/2382, which lays down implementing technical standards on standard forms, templates, and procedures for the transmission of information in accordance with the Markets in Financial Instruments Directive II (MiFID II: Directive 2014/65/EU). December 20, 2017 WebPage Regulatory News
News EIOPA Report Highlights Key Financial Stability Risks for Insurers EIOPA published its semi-annual financial stability report on the insurance, reinsurance, and occupational pensions sectors in the European economic area in December 2017. December 20, 2017 WebPage Regulatory News
News ESMA Publishes Annual Market Share Calculation for CRAs The purpose of the market share calculation is to facilitate issuers and related third parties in their evaluation of a CRA with no more than 10% total market share in the EU. December 20, 2017 WebPage Regulatory News
News ESMA Issues Statement on Implementation of LEI Under MiFID II ESMA issued a statement to support the smooth implementation of Legal Entity Identifier (LEI) requirements under the Markets in Financial Instruments Regulation (MiFIR). December 20, 2017 WebPage Regulatory News
News FINMA Issues Revised Circular 2019/1 on Risk Diversification for Banks This revision was necessitated by changes adopted by the Federal Council to the Capital Adequacy Ordinance, which contains rules on banks and securities dealers’ capital bases and risk diversification. December 20, 2017 WebPage Regulatory News
News MAS Proposes Revision to Scope of Eligible Collateral in Notice 637 MAS published consultation paper on proposals to widen the scope of eligible collateral relating to commodities and equity securities in MAS Notice 637. December 20, 2017 WebPage Regulatory News
News OSFI Revises Guideline on Basel III Leverage Ratio Disclosures The guideline provides clarification on the implementation of the BCBS leverage ratio framework and disclosure requirements for all institutions and builds on the April 2017 Pillar 3 Disclosure Requirements guideline of OSFI. December 20, 2017 WebPage Regulatory News
News SRB Publishes the 2017 Policy Statement on MREL SRB, along with the Banking Union national resolution authorities, published the 2017 policy statement on the minimum requirement for own funds and eligible liabilities (MREL); this policy statement will serve as a basis for setting the consolidated MREL targets for banks under the remit of SRB. December 20, 2017 WebPage Regulatory News
News EIOPA Publishes Opinion on Supervisory Assessment of Internal Models EIOPA issued an opinion on the supervisory assessment of internal models, including a dynamic volatility adjustment (DVA). December 20, 2017 WebPage Regulatory News
News BoE Consults on Approach for Authorization of Banks and Insurers BoE is consulting on an updated approach to authorizing and supervising international banks and insurers. BoE also issued guidance on its approach to international central counterparties (CCPs). December 20, 2017 WebPage Regulatory News
News DNB Issues Banking Newsletter for December 2017 DNB issued the banking newsletter for December 2017. This month’s issue focuses on thematic research into risk management during outsourcing. December 20, 2017 WebPage Regulatory News
News EC Issues Regulations Supplementing Insurance Distribution Directive EC published the Commission Delegated Regulations (EU) 2017/2358 and 2017/2359, which supplement the Insurance Distribution Directive (IDD: Directive (EU) 2016/97). December 20, 2017 WebPage Regulatory News
News EBA Publishes Opinion on Transition from PSD1 to PSD2 EBA published an opinion addressed to competent authorities on the transition from the existing Payment Services Directive (PSD1) to the revised Payment Services Directive (PSD2), which will apply from January 13, 2018. December 19, 2017 WebPage Regulatory News
News EBA Regulatory Standards Related to Recovery and Resolution Planning EBA published a report on the application of simplified obligations and waivers in recovery and resolution planning. It also published the final draft regulatory technical standards specifying the eligibility criteria to determine whether institutions could be subject to simplified obligations when drafting such plans. December 19, 2017 WebPage Regulatory News
News ESAs Amend Margin Requirements for Non-Centrally Cleared Derivatives ESAs (EBA, EIOPA, and ESMA) published the jointly developed draft regulatory technical standards amending the framework of the European Market Infrastructure Regulation (EMIR) with regard to physically settled foreign-exchange (FX) forwards. December 19, 2017 WebPage Regulatory News
News ESMA Consults on Technical Standards on Securitization Requirements ESMA published three consultation papers on the draft technical standards implementing the Securitisation Regulation. December 19, 2017 WebPage Regulatory News
News ESMA Updates MIFID II Trading Halts Procedure ESMA published the revised procedure and template to be used by national competent authorities for reporting the parameters used by trading venues under their jurisdiction for halting trading; this is in accordance with Article 48(5) of the Markets in Financial Instruments Directive (MiFID II). December 19, 2017 WebPage Regulatory News
News RBNZ Consults on Options for Calculation of Risk-Weighted Assets RBNZ is seeking feedback on the options for calculating risk-weighted assets as part of the review of the Capital Adequacy Framework for locally incorporated banks. December 19, 2017 WebPage Regulatory News
News ECB Publishes Fourth Issue of the Macroprudential Bulletin This issue provides insights into the analytical work and regulatory issues related to macroprudential policy in the EU. December 19, 2017 WebPage Regulatory News
News US Agencies Announce Joint Determinations for Resolution Plans The agencies announced that the resolution plans of the eight largest and most complex domestic banking organizations did not have deficiencies, which are weaknesses severe enough to trigger a resubmission process that could result in more stringent requirements. December 19, 2017 WebPage Regulatory News
News EIOPA Issues Q&A on Comprehension Alert in KID for IBIPs EIOIPA issued a question and answer (Q&A) on the comprehension alert in the Key Information Document (KID) for Insurance-Based Investment Products (IBIPs). December 19, 2017 WebPage Regulatory News
News DNB Issues Insurance Newsletter for December 2017 DNB issued insurance newsletter for December 2017. This issue highlights that the DNB calls on insurers to take into account scenarios deviating from the Solvency II standard formula in their risk management. December 19, 2017 WebPage Regulatory News
News EBA Consults on Technical Standards on Benchmarking of Internal Models EBA launched a consultation to amend the Commission Implementing Regulation on benchmarking of internal models. December 18, 2017 WebPage Regulatory News
News ESMA Updates Several Q&As on Implementation of MiFID II and MiFIR ESMA updated several question and answer documents (Q&As) related to the implementation of the revised Market in Financial Instruments Directive and Regulation (MiFID II and MiFIR) in the EU. December 18, 2017 WebPage Regulatory News
News EBA Discussion Paper on Implementing Revised Market Risk Framework EBA published a discussion paper on the implementation of the revised market risk and counterparty credit risk frameworks in the EU—also known as the Fundamental Review of the Trading Book (FRTB) and the Standardized Approach for Counterparty Credit Risk (SA-CCR), respectively. December 18, 2017 WebPage Regulatory News
News IAIS Publishes Newsletter for December 2017 IAIS published the December issue of its newsletter. The key highlight of this issue is the interview with new IAIS Secretary General Jonathan Dixon, who became the Secretary General of IAIS following the conclusion of the 2017 IAIS Annual Conference. December 18, 2017 WebPage Regulatory News
News EBA Publishes Impact Assessment Report on Liquidity Coverage Ratio EBA published the fourth impact assessment report for the liquidity coverage ratio (LCR). December 18, 2017 WebPage Regulatory News
News EC Consults on Proportionate Regulatory Environment for SME Listing EC published consultation on building a proportionate regulatory environment to support small and medium enterprise (SME) listing. December 18, 2017 WebPage Regulatory News
News EIOPA Report Analyzes SFCRs and Identifies Areas for Improvement EIOPA published a supervisory statement based on an analysis of the first Solvency and Financial Condition Reports (SFCRs) of (re)insurance undertakings and insurance groups. December 18, 2017 WebPage Regulatory News
News ESMA Issues Technical Standards for European Single Electronic Format ESMA published the final draft regulatory technical standards setting out the new European Single Electronic Format (ESEF). December 18, 2017 WebPage Regulatory News
News François Villeroy de Galhau of ACPR Speaks on Bank Resolution François Villeroy de Galhau, the Governor of the Bank of France and Chairman of the ACPR, spoke about bank resolution at the ACPR Academic Conference in Paris. December 18, 2017 WebPage Regulatory News
News APRA Submission on Proposed Legislation on Crisis Resolution Powers The submission outlines key reforms in the proposed legislation. December 18, 2017 WebPage Regulatory News
News APRA Announces Review of LPS 117 on Capital Adequacy of Life Insurers APRA published a letter about the review of Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge or ACRC (LPS 117), to ensure it remains fit for purpose and in line with the objectives in the APRA mandate. December 15, 2017 WebPage Regulatory News
News EBA Consults on Homogeneity of Underlying Exposures in Securitization EBA launched a public consultation on the draft regulatory technical standards specifying a set of criteria for the underlying exposures in securitization to be deemed homogeneous, as part of the requirements under the new EU securitization framework. December 15, 2017 WebPage Regulatory News
News EBA Consults on Standards on Risk Retention for Securitizations EBA launched a public consultation on the draft regulatory technical standards specifying the requirements for originators, sponsors, and original lenders related to risk retention—as laid down in the new EU securitization framework (namely, Simple, Transparent and Standardized, or STS, Regulation). December 15, 2017 WebPage Regulatory News
News EBA Single Rulebook Q&A: Third Update for December 2017 This week one answer was published as part of the Single Rulebook Q&A. The answer addressed a question on the value assigned to liabilities arising from derivative contracts. December 15, 2017 WebPage Regulatory News
News ECB Seeks Feedback on Guide for Assessment of IMMs for Calculating CCR ECB published the draft guide and the frequently asked questions (FAQ) on the assessment methodology for the internal model method (IMM) and the advanced credit valuation adjustment (CVA) capital charge for counterparty credit risk (CCR). December 15, 2017 WebPage Regulatory News
News ESMA Consults on Regulatory Standards Under the Prospectus Regulation ESMA launched a consultation on the draft regulatory technical standards under the new Prospectus Regulation (Regulation (EU) 2017/1129). December 15, 2017 WebPage Regulatory News
News ESMA Opinions on Third-Country Trading Venue Transactions Under MIFID ESMA published two revised opinions, providing guidance related to third-country trading venues for post-trade transparency and position limits under MiFIDII/MiFIR. December 15, 2017 WebPage Regulatory News
News ESMA Provides Overview of MiFID II Deferral Regimes ESMA published a table compiling the supplementary deferral regimes applicable in different member states for trading in non-equity instruments under the Market in Financial Instruments Regulation (MiFIR). December 15, 2017 WebPage Regulatory News
News ESMA Updates Q&A and Lists Liquid Contracts on Commodity Derivatives ESMA updated the questions and answers (Q&A) document on commodity derivatives under the revised Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). December 15, 2017 WebPage Regulatory News
News FINMA Amends Circular 15/2 on Liquidity Risks for Banks FINMA amended the circular (Circular 2015/2) on liquidity risks for banks, with the new rules entering into force on January 01, 2018. December 15, 2017 WebPage Regulatory News
News ESMA Issues Statement on Preparatory Work on CFDs and Binary Options ESMA issued a statement updating on its work in relation to the sale of contracts for differences (CFDs), binary options, and other speculative products to retail investors. December 15, 2017 WebPage Regulatory News
News MAS Issues Response to Consultation on Review of Insurance Returns MAS issued a circular stating its response to the feedback received on a consultation paper on the review of insurance returns. December 15, 2017 WebPage Regulatory News
News OSFI Amends BCAR Return and Instructions for Q1 2018 Filing OSFI issued a letter announcing the additional changes that were made to the Financial Information Committee (FIC) Basel Capital Adequacy Reporting (BCAR) regulatory return and instructions. December 15, 2017 WebPage Regulatory News
News OSFI Publishes Updates on Filing Instructions and Forms Under LICAT OSFI issued a letter stating that the OSFI-86 and OSFI-87 returns will be discontinued following the completion of the fourth quarter of 2017 filing period, after the annual update letter issued on August 02, 2017. December 15, 2017 WebPage Regulatory News
News FCA Publishes PS17/27 on Feedback to CP17/23 on Implementation of IDD CP17/23 and PS17/27 cover the implementation of most IDD Level 1 matters; these include the remaining conduct requirements for life policies and information disclosure in relation to non-investment insurance contracts, which were not covered in the earlier consultation CP17/7. December 15, 2017 WebPage Regulatory News
News EBA Publishes Standardized Data Templates for NPL Transactions EBA published the data templates that will provide a common EU dataset for the screening, financial due diligence, and valuation during nonperforming loan (NPL) transactions. December 14, 2017 WebPage Regulatory News
News EBA Updates Implementing Standards for 2018 Benchmarking Exercise EBA updated the implementing technical Standards on benchmarking of internal approaches, which define the benchmarking portfolios for the 2018 benchmarking exercise. December 14, 2017 WebPage Regulatory News
News ESMA Updates Q&As on Securities Regulations in December 2017 ESMA updated Q&As on Benchmarks Regulation (BMR), Central Securities Depository Regulation (CSDR), European Markets Infrastructure Regulation (EMIR), Market Abuse Regulation (MAR), and post-trading issues under the Second Markets in Financial Instruments Directive (MiFID II). December 14, 2017 WebPage Regulatory News
News FDIC and SRB Sign A Cooperation Arrangement FDIC and SRB signed a Cooperation Arrangement to further strengthen the close cooperation between the two organizations, in compliance with the legal frameworks in the United States and the EU. December 14, 2017 WebPage Regulatory News
News FSB Publishes Survey on Incentives to Centrally Clear OTC Derivatives FSB, BCBS, CPMI, and IOSCO have agreed to evaluate the effects of the interaction of the post-crisis regulatory reforms on incentives to centrally clear over-the-counter (OTC) derivatives. December 14, 2017 WebPage Regulatory News
News FSOC Releases Annual Report for 2017 FSOC published its 2017 annual report, which describes significant financial market and regulatory developments, potential emerging threats to the U.S. financial stability, recommendations to promote financial stability, and the activities of FSOC. December 14, 2017 WebPage Regulatory News
News OSFI Finalizes Guideline E-19, Guideline A-4 and ORSA KMR for Insurers OSFI issued final versions of Guideline E-19, Guideline A-4, and the Key Metrics Report for certain insurers. December 14, 2017 WebPage Regulatory News
News CBRC to Actively and Steadily Promote the Opening Up of Banking Sector CBRC is making changes to further open up the Chinese banking sector. CBRC is relaxing restrictions on the proportion of foreign ownership of Chinese banks and financial assets management companies other than private banks. December 13, 2017 WebPage Regulatory News
News EBA Issues Opinion on Measures to Address Macro-Prudential Risk by CBC EBA published an Opinion following the notification by the Central Bank of Cyprus (CBC) of its intention to apply stricter liquidity requirements to address an increase in macro-prudential risk, based on Article 458 of the Capital Requirements Regulation (CRR). December 13, 2017 WebPage Regulatory News
News EBA Issues Final Technical Standards on Future EBA Register Under PSD2 EBA published the final draft regulatory and implementing technical standards on the EBA electronic central register under the Payment Services Directive (PSD2). December 13, 2017 WebPage Regulatory News
News EC Standards on Disclosure of Encumbered and Unencumbered Assets EC published the Commission Delegated Regulation, or CDR, (EU) 2017/2295 laying out regulatory technical standards for disclosure of encumbered and unencumbered assets. CDR (EU) 2017/2295 supplements Capital Requirements Regulation (CRR)—that is, Regulation (EU) No 575/2013. December 13, 2017 WebPage Regulatory News
News EIOPA Publishes Results of Occupational Pensions Stress Test 2017 EIOPA published the report describing results of the 2017 Occupational Pensions Stress Test. The European defined benefit (DB) and hybrid occupational pension sector has, on average, insufficient assets to meet pension liabilities on the national balance sheet, both in the baseline and adverse market scenario. December 13, 2017 WebPage Regulatory News
News FSI Executive Summaries on IFRS 9 and Treatment of Problem Assets The Financial Stability Institute (FSI) of BIS published Executive Summaries on prudential treatment of problem assets and on IFRS 9 and expected credit loss (ECL) provisioning. December 13, 2017 WebPage Regulatory News
News IMF Publishes Reports on the 2017 Article IV Consultation with Finland IMF published its staff report and selected issues report in the context of the 2017 Article IV consultation with Finland. December 13, 2017 WebPage Regulatory News
News PRA and FCA Consult on Implementing Extension of SM&CR to Insurers PRA published the consultation paper CP28/17 that sets out the proposed changes to forms, along with other consequential changes and minor administrative amendments related to the extension of the Senior Managers and Certification Regime (SM&CR) to insurers. December 13, 2017 WebPage Regulatory News
News SARB Issues Directive D8/2017 on Matters Related to NSFR SARB published a directive (D8/2017) that informs the relevant entities about matters related to the calibration of NSFR and the national discretion exercised in respect of specified items related to NSFR. December 13, 2017 WebPage Regulatory News
News PRA Consults on Changes to Solvency II Internal Models for Insurers PRA launched a consultation paper (CP27/17) that proposes updated expectations of firms in respect of the model change process set out in the SS12/16 and internal model change policies set out in SS17/16 . December 12, 2017 WebPage Regulatory News
News PRA Issues Policy Statement on Pillar 2A Capital Rules and Disclosure PRA published the Policy Statement PS30/17, which provides feedback to the responses to the consultation paper CP12/17 on Pillar 2A capital requirements and disclosure. December 12, 2017 WebPage Regulatory News
News IFC Bulletin on Data Needs and Statistics for Macroprudential Analysis BIS published the IFC Bulletin Number 46, which presents the proceedings of the Irving Fisher Committee (IFC)-National Bank of Belgium Workshop on data needs and compilation of statistics for macro-prudential analysis. December 12, 2017 WebPage Regulatory News
News Valdis Dombrovskis of EC Speaks on Action Plan on Sustainable Finance Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, Financi

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