BaFin notified that it will not implement the circular (Circular 14/2018) on guidelines on liquidity coverage ratio (LCR) disclosures in Germany. The circular was intended to implement the the relevant EBA guidelines on LCR disclosures, which complement the disclosure requirements of liquidity risk management in accordance with Article 435 of the Capital Requirements Regulation (CRR). Therefore, the circular was rendered obsolete by the revised Capital Requirements Regulation (CRR 2). BaFin had launched a consultation on this circular in July 2018.
The disclosure requirements in the two regulations (CRR and CRR 2) differ materially. BaFin also notified that it will not implement the EBA guidelines on liquidity requirements until the new disclosure requirements for LCR under the CRR 2 apply. This will be the case from June 28, 2021. Nonetheless, institutions are encouraged to continue to comply with the existing requirements of CRR and to prepare for the disclosure requirements of CRR 2.
Related Links (in German)
Keywords: Europe, Germany, Banking, LCR, Disclosures, CRR, CRR2, Liquidity Risk, EBA, BaFin
Previous ArticleUS Agencies Finalize Amendments to Simplify Volcker Rule
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.