Featured Product

    FI Issues Updates on CCyB and Reporting by Banks and Investment Firms

    March 31, 2021

    As part of the reporting updates under the Capital Requirements Regulation (CRR) and Investment Firms Regulation (IFR), the Swedish Financial Supervisory Authority FI has updated the list of deactivated EBA validation rules and the questions and answers on reporting requirements for banks and investment firms. In another update, FI announced its decision to maintain the countercyclical capital buffer (CCyB) at 0% until at least the third quarter of 2021. However, FI will apply a positive neutral rate of 2% in the future and will only raise the buffer above the neutral rate, when systemic risks are elevated enough to motivate a higher buffer rate than 2%.

    FI also published a new memorandum that describes the general principles for setting the CCyB rate. From this point onward, FI will make a quarterly assessment, but will make a new decision only if the buffer rate is changed, or if there is a need to provide clearer guidance. In its report on the Swedish Mortgage Market, FI highlights that temporary exemption from the amortization requirements, which FI introduced in April 2020, will expire on August 31, 2021. As of January 2021, nearly 230,000 households in the mortgage portfolios of banks have been granted temporary exemption from amortization payments. In the FI sample of new mortgagors in 2020, roughly 9% had applied for and been granted exemption from amortizing all or parts of their new mortgages. The report also highlights that new mortgagors who were granted exemption tend to have larger loans in relation to both the value of their home and their income relative to other mortgagors who amortize.

     

    Related Links (in English and Swedish)

    Keywords: Europe, Sweden, Banking, Securities, Investment Firms, Reporting, Validation Rules, Q&A, CRR, Basel, CCyB, Regulatory Capital, Systemic Risk, Mortgage Lending, Credit Risk, FI

    Featured Experts
    Related Articles
    News

    EC Regulation Sets Out Standards for Reporting and Disclosure of MREL

    EC published the Implementing Regulation 2021/763 that lays down implementing technical standards for supervisory reporting and public disclosure of the minimum requirement for own funds and eligible liabilities (MREL).

    May 12, 2021 WebPage Regulatory News
    News

    APRA Decides to Standardize Submission Date for Quarterly Reporting

    APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.

    May 11, 2021 WebPage Regulatory News
    News

    ECB Working Group Publishes Recommendations on EURIBOR Fallbacks

    The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).

    May 11, 2021 WebPage Regulatory News
    News

    Bundesbank Publishes Supporting Documentation for Reporting by Banks

    Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.

    May 11, 2021 WebPage Regulatory News
    News

    EBA Publishes Phase 1 of Reporting Framework 3.1

    EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).

    May 10, 2021 WebPage Regulatory News
    News

    APRA to Finalize Capital Adequacy Standard Revisions by January 2022

    Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA

    May 10, 2021 WebPage Regulatory News
    News

    ESMA Issues Guidelines on Outsourcing to Cloud Service Providers

    ESMA published the final guidelines on outsourcing to cloud service providers.

    May 10, 2021 WebPage Regulatory News
    News

    EBA Publishes Data on Deposit Guarantee Schemes

    EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.

    May 10, 2021 WebPage Regulatory News
    News

    OSFI Sets Out Plan for Future Guidance on Managing Technology Risk

    OSFI has set out the schedule for release of draft guidance on the management of technology risks by federally regulated financial institutions and private pension plans.

    May 10, 2021 WebPage Regulatory News
    News

    MAS Updates Housing Loan Rules, Proposes Corporate Governance Guidance

    MAS updated rules for new housing loans by banks and finance companies.

    May 10, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6964