DNB issued the banking and insurance newsletters for May 2019. The newsletters highlight that Central Banks and Supervisors Network for Greening the Financial System (NGFS) published a “Call for Action” with six concrete recommendations on making the financial system more sustainable. The key recommendations are related to integrating climate-related risks into financial stability monitoring and micro-supervision, building awareness and encouraging technical assistance and knowledge-sharing, supporting the development of a taxonomy of economic activities, and achieving robust and internationally consistent climate and environment-related disclosures.
The the newsletters include:
- Update on the questions and answers (Q&A) on “DNB Assessment framework for Information security for DNB research” and made it more accessible to administrators and policymakers.
- Update on the recent relevant publications by ECB, EBA, EC, and other international forums.
- Good practices for intra-group agreements and positions of insurers.
- Update on a study, among ten medium-size insurers, into the management of operational and IT risks. The study shows that insurers can implement the application of EIOPA's guidelines on risk management more emphatically in that regard.
- Update on the calendar for banks.
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, QIS Calender, Q&A, Climate-Related Financial Risk, Sustainable Finance, DNB
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The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.
The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.
The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.
The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.
The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).
The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.
The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).
The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.