ECB Amends Decision on TLTRO III
ECB published Decision 2021/752 to amend Decision 2019/1311 on the third series of targeted longer-term refinancing operations or TLTRO III. The amendments include changes to sanctions for non-compliance with reporting and auditing requirements as well as changes to provisions for treatment of corporate reorganizations occurring after March 31, 2021, for the purpose of calculating TLTRO-III interest rates. Decision 2021/752 shall enter into force on the day following that of its publication in the Official Journal of the European Union.
As explained in the introductory text to Decision 2021/752, the sanctions related to non-compliance with the deadlines set for submitting reports and auditor evaluations should be adjusted to make the sanctioning regime more proportionate while still aiming to ensure that participants comply with the deadlines set. In addition, the cases in which participants are permitted to switch from individual to group participation or join existing TLTRO-III groups as well as the procedure to be followed in such cases should be clarified. A provision should also be made for an exemption from the obligation to submit an auditor’s evaluation in relation to reports revised due to corporate reorganizations or changes in the composition of TLTRO-III groups. Finally, the reporting requirements and relevant interest rate calculations in the event of a change in the TLTRO-III group composition or of a corporate reorganization that occurs between April 01, 2021 and December 31, 2021 should be clarified. In this context, ECB has amended the Decision 2019/1311.
Related Links
Keywords: Europe, EU, Banking, TLTRO III, Reporting, COVID-19, Liquidity Risk, Decision 2021/752, ECB
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Karen Moss
Senior practitioner in asset and liability management (ALM) and liquidity risk who assists banking clients in advancing their treasury and balance sheet management objectives
Related Articles
EBA Publishes Final Regulatory Standards on STS Securitizations
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
ECB Further Reviews Costs and Benefits Associated with IReF
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
EBA Publishes Funding Plans Report, Receives EMAS Certification
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
IOSCO Welcomes Work on Sustainability-Related Corporate Reporting
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
BoE Allows One-Day Delay in Statistical Data Submissions by Banks
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
ACPR Amends Reporting Module Timelines Under EBA Framework 3.2
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
APRA to Modernize Prudential Architecture, Reduces Liquidity Facility
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.
