Featured Product

    EBA Guidance to Authorities and Institutions on Brexit Relocations

    October 11, 2017

    EBA published an opinion on issues related to Brexit to ensure consistent application of EU legislation to businesses seeking to establish, or enhance, their EU27 presence to retain access to the EU Single Market. The opinion aims to provide greater certainty to firms and to ensure a level playing field. A report that is appended to the opinion sets out the detailed analysis underlying this guidance.

    In the opinion, EBA addresses a number of relevant policy topics related to authorizations, the prudential regulation and supervision of investment firms, internal models, outsourcing, internal governance, risk transfers via back-to-back and intragroup operations, and resolution and deposit guarantee scheme issues. In each area identified by EBA, the opinion sets out some key principles, followed by specific detailed technical guidance addressed to firms and authorities. The opinion is focused on the period prior to the departure of the UK. The overarching principles underlying all of the guidance in the opinion are that:

    • The existing legal and regulatory framework should be applied consistently and harmoniously throughout the EU, while avoiding the competition on regulatory or supervisory standards
    • Authorities should avoid imposing an unnecessary regulatory burden on firms, while regulatory standards, which have always applied, should be maintained
    • Cooperation and coordination between supervisors and between supervisors and resolution authorities is important, both now and in the future

    EBA will monitor practical application of the opinion by authorities and will continue its policy and risk analysis work in relation to the challenges posed by Brexit.

     

    Related Link: Opinion on Brexit Issues (PDF)

    Keywords: Europe, EU, Banking, Brexit, Single Market, Opinion, EBA

    Related Articles
    News

    OCC Revises Minimum Threshold for Banks to Conduct Stress Tests

    OCC issued the final rule that amends its company-run stress testing requirements under the 12 CFR 46 in Code of Federal Regulations.

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Update Management Interlock Rules Under DIMIA

    US Agencies (FDIC, FED, and OCC) issued a final rule that increases the thresholds in the major assets prohibition for management interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA).

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rules to Closely Match Bank Risk Profiles

    US Agencies (OCC, FED, and FDIC) finalized rules that tailor the regulations for domestic and foreign banks to more closely match their risk profiles.

    October 10, 2019 WebPage Regulatory News
    News

    CPMI-IOSCO and FSB on Governance Arrangements for OTC Derivatives

    CPMI and IOSCO published a report that identifies key criteria, functions, and bodies for the governance arrangements.

    October 09, 2019 WebPage Regulatory News
    News

    EIOPA Launches Field Test on Templates Under 2020 Solvency II Review

    EIOPA, as part of the 2020 Solvency II reporting and disclosure review, launched a field test on the revised and newly proposed reporting templates.

    October 09, 2019 WebPage Regulatory News
    News

    US Agencies Adopt Rule on Appraisals for Real Estate Transactions

    US Agencies (FDIC, FED, and OCC) adopted the final rule to amend regulations requiring appraisals of real estate for certain transactions

    October 08, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Simplify Volcker Rule

    US Agencies (CFTC, FDIC, FED, OCC, and SEC) finalized amendments to the regulations implementing section 13 of the Bank Holding Company Act, also known as the Volcker Rule.

    October 08, 2019 WebPage Regulatory News
    News

    EC Report Explores Application and Challenges of Blockchain Technology

    The Joint Research Center of EC published a report exploring the challenges and impact of distributed ledger technologies.

    October 08, 2019 WebPage Regulatory News
    News

    BIS and SNB Sign Agreement on Innovation Hub Center in Switzerland

    BIS and SNB signed an operational agreement on the BIS Innovation Hub Center in Switzerland.

    October 08, 2019 WebPage Regulatory News
    News

    ECB Issues Results of Sensitivity Analysis of Liquidity Risk for Banks

    ECB published results of 2019 stress test on sensitivity analysis of liquidity risk.

    October 07, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3958