Featured Product

    MFSA Publishes Guidance for Reporting Under Framework 3.0

    May 25, 2022

    The Malta Financial Services Authority (MFSA) published guidelines for credit institutions and foreign branches under the reporting framework 3.0 (reporting under the Capital Requirements Directive), a guidance note on administrative penalty calculations for breaches of regulatory requirements, and a circular and the associated template on threshold monitoring with respect to the intermediate European Union (EU) parent undertakings (IPUs).

    The circular on the intermediate EU parent undertakings informs all credit institutions, investment firms, and third-country groups about the monitoring of the threshold and other procedural aspects on the establishment of the intermediate EU parent undertakings. EU parent institutions, stand-alone institutions, and third-country branches belonging to third-country groups are requested to submit the dedicated template to MFSA, following the template instructions outlined therein. The information shall be compiled using December 31, 2021 as the reference date and shall be submitted to MFSA by June 17, 2022. In addition to the submission of this template, EU parent institutions and stand-alone institutions belonging to the third-country groups are also requested to immediately notify MFSA in case of a material change identified through the quarterly assessments. A material change shall be understood as a change that would alter the final outcome as submitted to MFSA through the dedicated template, such as, a change that would bring the total value of assets of the third-country group entities in EU to exceed the EUR 40 billion threshold in that quarter.

     

    Related Links


    Keywords: Europe, Malta, Banking, Investment Firms, Reporting, CRD IV, Basel, Framework 3.0, Intermediate Parent Undertakings, Administrative Penalty, Compliance Risk, MFSA

    Featured Experts
    Related Articles
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News
    News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News
    News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582