Featured Product

    EBA Reviews Compliance with Guidance on O-SII Identification Criteria

    November 15, 2017

    EBA published the final report on the peer review that evaluated the implementation of the EBA guidelines on the criteria for the assessment and identification of other systemically important institutions (O-SIIs) across the EU. The peer review concluded that the majority of the authorities are compliant with the EBA guidelines, although some of its requirements have not been fully applied in all jurisdictions.

    The peer review observed that the jurisdictions expressing their intention to comply with these guidelines are generally compliant. However, EBA observed some deviating practices in several member states, which could potentially hamper harmonization in the Single Market. Therefore, EBA recommends that such deviations be corrected as soon as possible.

    The peer review also identified a number of best practices and highlighted the different approaches on remaining up-to-date with the O-SII identification methodology and meeting disclosure requirements. The review highlighted that notification and disclosure obligations would benefit from greater harmonization and the process to calibrate and implement the O-SII buffer, potentially in close cooperation with other EU authorities such as the ESRB. The reference date for this peer review exercise was the 2016 O-SIIs identification exercise, implying that data from the end of 2015 have been used.

     

    Related Link: Final Peer Review Report on EBA O-SII Guidelines (PDF)

    Keywords: Europe, EU, Banking, O-SII, Identification Methodology, Peer Review, Compliance Assessment, EBA

    Related Articles
    News

    EU Amends IFRS 9 Rule, Changes Concern Interest Rate Benchmark Reforms

    EU published Regulation 2020/34 regarding the International Accounting Standard (IAS) 39 and International Financial Reporting Standards (IFRS) 7 and 9.

    January 16, 2020 WebPage Regulatory News
    News

    FDIC and OCC Issue Statement on Heightened Cyber Security Risk

    In response to the heightened cyber-security risk facing the financial services industry and other critical business sectors, FDIC and OCC issued an interagency statement on heightened cyber-security risk.

    January 16, 2020 WebPage Regulatory News
    News

    BoE and FCA Outline Next Steps for LIBOR Transition in 2020

    BoE, FCA, and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) have published a set of documents that outline the LIBOR transition priorities and milestones for 2020.

    January 16, 2020 WebPage Regulatory News
    News

    BCRA Updates Regulation on Capital Requirements and Information Regime

    BCRA updated the rules on minimum capital requirements for financial entities and on certain aspects of the information transparency regime for quarterly and annual supervision.

    January 16, 2020 WebPage Regulatory News
    News

    BIS to Expand Central Bank Membership

    BIS is to expand its central bank membership base and to increase collaboration in its work as a forum for international cooperation and as a hub for central banks and other financial authorities.

    January 14, 2020 WebPage Regulatory News
    News

    EIOPA Issues Technical Specifications for Market and Credit Risk Study

    EIOPA published the technical specifications, including instructions, for the market and credit risk modeling comparative study for year-end 2019.

    January 13, 2020 WebPage Regulatory News
    News

    FED Publishes FAQs on Tailoring Rules for Banks

    FED released a letter announcing the publication of an initial set of frequently asked questions (FAQs) in response to questions from institutions.

    January 13, 2020 WebPage Regulatory News
    News

    IA of Hong Kong Publishes Stress Testing Scenarios in Relation to ORSA

    IA of Hong Kong published the prescribed scenarios for stress and scenario testing to be used by the authorized insurers conducting general insurance business.

    January 13, 2020 WebPage Regulatory News
    News

    FDIC Letter on Submission of Call Reports by End of January 2020

    FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (Call Reports) for the December 31, 2019 report date must be submitted to the Central Data Repository of the relevant US agencies by January 30, 2020.

    January 13, 2020 WebPage Regulatory News
    News

    EBA Consults on Calculation of Own Funds Requirements for Market Risk

    EBA is consulting on the draft regulatory technical standards for calculation of the own funds requirements for market risk, under the standardized and internal model approaches of the Fundamental Review of the Trading Book (FRTB) framework.

    January 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4489