EBA Welcomes the EC Call for Advice on Basel III Implementation in EU
EBA welcomed the call for advice by EC on the implementation of Basel III framework, which BCBS had finalized in December 2017. EC issued the call for advice to EBA for revising the own fund requirements for credit, operational, market, and credit valuation adjustment risk. In its call, EC asked EBA to prepare a comprehensive analysis to assess the potential impact of the different elements of the Basel reform on the EU banking sector and the wider economy.
In response to the call for advice, EBA will provide a quantitative and qualitative assessment of the new Basel III framework. EBA is planning to launch, by July, an overall data collection exercise, for which it will provide more details in the coming months. The evidence collected from this exercise will form the basis for the EBA policy recommendations. In this exercise, EBA also plans to include smaller and less complex banks, along with certain institutions with specific business models. A broad representation of the EU banking sector will be crucial to ensure an assessment of the impact on both large and small EU banks. Broad representation is considered to be a prerequisite for an evidence-based and proportionate policy making. The EBA Chairperson Andrea Enria, stated that EBA is "... looking forward to supporting the EC to ensure an effective and proportionate implementation of the new framework in EU." EBA aims to engage with national authorities, the industry, and European co-legislators to ensure a successful implementation of the finalized Basel III standards in EU.
Related Links
Keywords: Europe, EU, Banking, Basel III, Impact Assessment, Basel III Finalization, Proportionality, EC, EBA
Related Insights
|
News
FSB Publishes the G-SIB List for 2018FSB published the 2018 list of global systemically important banks (G-SIBs) using end-2017 data and an assessment methodology designed by BCBS.
November 16, 2018
WebPage
Regulatory News
|
|
News
BCBS Publishes Additional Information on the 2018 G-SIB AssessmentBCBS published further information related to the 2018 assessment of global systemically important banks (G-SIBs), including additional details to help understand the scoring methodology.
November 16, 2018
WebPage
Regulatory News
|
|
News
CBB Proposes and Finalizes Rulebook Modules for Banks in November 2018CBB announced the issuance of new leverage ratio requirements under Module CA (Part 3) for Islamic (Chapter CA-10) and conventional bank licensees (Chapter CA-15).
November 15, 2018
WebPage
Regulatory News
|
|
News
OFR on Financial Stability Risks in Its 2018 Annual Report to CongressOFR released its 2018 Annual Report to Congress, which examines risks to the financial stability in the United States.
November 15, 2018
WebPage
Regulatory News
|
|
News
SRB Sets Expectations on Resolvability of Banks in Context of BrexitSRB published a position paper that presents its expectations about ensuring resolvability of banks in the context of Brexit.
November 15, 2018
WebPage
Regulatory News
|
|
News
PRA Publishes Final Policy on Capital Framework for SecuritizationPRA published the policy statement PS29/18, which provides feedback to responses to the consultation paper CP12/18 on the new EU framework and significant risk transfer for securitization.
November 15, 2018
WebPage
Regulatory News
|
|
News
IAIS Publishes Drafts of Revised ICP 8, ICP 15, ICP 16, and ICP 20IAIS published the drafts of revised Insurance Core Principles on Public Disclosure (ICP 20), Investments (ICP 15), Enterprise Risk Management for Solvency Purposes (ICP 16), and Risk Management and Internal Controls (ICP 8), along with a revised draft of the glossary on enterprise risk management (ERM).
November 14, 2018
WebPage
Regulatory News
|
|
News
PRA Updates Final Policy and Reporting Form for Leverage Ratio in UKPRA published the Policy Statement PS28/18, which provides feedback to responses to the consultation paper CP14/18 titled "UK leverage ratio: Applying the framework to systemic ring-fenced bodies and reflecting the systemic risk buffer."
November 14, 2018
WebPage
Regulatory News
|
|
News
IASB Could Extend Effective Date for IFRS 17 and IFRS 9 for InsurersIASB has voted to propose a one-year deferral—to 2022—of the effective date for the new insurance contracts standard IFRS 17. IASB also decided to propose extending to 2022 the temporary exemption for insurers to apply the financial instruments standard IFRS 9.
November 14, 2018
WebPage
Regulatory News
|
|
News
MAS Amends Notice 637 on Capital Adequacy Requirements in SingaporeMAS published the final, revised Notice 637 on the risk-based capital adequacy requirements in Singapore.
November 13, 2018
WebPage
Regulatory News
|
