May 22, 2019

EBA published its opinion that the supervisory and regulatory framework applicable to credit institutions in Argentina can be regarded as equivalent to that applied in EU. The opinion was addressed to EC following its assessment of non-EU countries' equivalence with the EU prudential supervision and regulatory requirements.

According to the Capital Requirements Regulation (CRR), under well-defined conditions certain categories of exposures to entities located in countries outside the EU can benefit from the same preferential treatment applied to the exposures of EU member states in terms of capital requirements. This would imply that EU credit institutions can apply preferential risk-weights to the relevant exposures to entities located in those countries. Against this background, and within its mandate to promote supervisory convergence, EBA was requested by EC to provide technical advice on the equivalence between the legal and supervisory frameworks of non-EU countries and the EU framework in view of prudential requirements for EU credit institutions and investment firms. The advice was requested on the following aspects:

  • Exposures to third-country investment firms, credit institutions, clearing houses and exchanges; exposures to third-country central governments and central banks; exposures to third-country regional governments or local authorities; exposures to third-country public-sector entities; exposures in the form of units or shares in third-country Collective Investment Undertakings (CIUs)
  • Definition of a large financial-sector entity.

 

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Keywords: Europe, Americas, EU, Argentina, Banking, Supervisory and Regulatory Framework, CRR, Opinion, Third Country, Equivalence Decisions, EC, EBA

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