Featured Product

    CSSF Law Transposes CRD5 and BRRD2, Implements CRR2

    May 25, 2021

    CSSF published a Law dated May 20, 2021 that transposes the fifth Capital Requirements Directive (CRD5) and the second Bank Recovery and Resolution Directive (BRRD2) as well as implements the revised Capital Requirements Regulation (CRR2). It also amends the Law dated December 18, 2015 on resolution, reorganization, and liquidation measures for credit institutions and certain investment firms as well as deposit guarantee and investor compensation systems. In addition, CSSF published Circular 21/772, which amends Circular 18/703, on the introduction of a semi-annual reporting of borrower-related residential real estate indicators. Circular 21/772 also updates the data collection template and becomes applicable as of its publication date.

    The objective of the circular is to introduce a macro-prudential risk monitoring framework for the residential real estate sector in Luxembourg, based on a recommendation by ESRB. The report aims to collect indicators on lending standards in the residential real estate market. The circular introduces definitions of these indicators that are collected via a dedicated template. The scope of the data collection refers to loans taken to purchase residential real estate in Luxembourg and loans that are secured by real estate collateral located in Luxembourg. This circular specifies the residential real estate data that will be collected through a dedicated residential real estate data template. The data will be collected by the CSSF semi-annually in the months of April and October each year. The reference date for the data collection will be the December 31 and June 30 respectively. Lenders that are active in the residential real estate sector are expected to be able to produce the requested data at a semi-annual frequency. 

     

    Related Links

    Effective Date: May 10, 2021 (Circular 21/772)

    Keywords: Europe, Luxembourg, Banking, Reporting, CRR2, CRD5, BRRD2, Basel, Investment Firms, Residential Real Estate, Data Collection, Credit Risk, CSSF

    Featured Experts
    Related Articles
    News

    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.

    September 20, 2022 WebPage Regulatory News
    News

    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.

    September 15, 2022 WebPage Regulatory News
    News

    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).

    September 15, 2022 WebPage Regulatory News
    News

    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.

    September 15, 2022 WebPage Regulatory News
    News

    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.

    September 15, 2022 WebPage Regulatory News
    News

    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)

    September 15, 2022 WebPage Regulatory News
    News

    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.

    September 14, 2022 WebPage Regulatory News
    News

    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.

    September 14, 2022 WebPage Regulatory News
    News

    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)

    September 13, 2022 WebPage Regulatory News
    News

    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.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514