CSSF published Regulation No. 20-01, which specifies that the countercyclical buffer rate has been set at 0.50%. This rate, which will be apply from January 01, 2021, has been set in accordance with the recommendation of the Systemic Risk Committee of March 12, 2020. Annex 1 of the regulation lays out elements considered for setting the applicable countercyclical buffer rate while Annex 2 of the regulation presents the text of the Committee recommendation. The regulation shall come into force on the day of its publication in the Official Journal of the Grand Duchy of Luxembourg. CSSF has also published frequently asked questions (FAQs) related to the COVID-19 pandemic.
Keywords: Europe, Luxembourg, Banking, CCyB, FAQs, COVID-19, Regulatory Capital, CSSF
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EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.