Featured Product

    EC Welcomes Declaration by Member States on EU Cloud Federation

    October 15, 2020

    EC welcomed the joint declaration by 25 EU member states on building the next generation of cloud in Europe. The signatory member states agree to work together toward deploying resilient and competitive cloud infrastructure and services across Europe. A secure and competitive cloud offering is essential for providing the trustworthy data processing infrastructure and services. EC also highlighted that a European Alliance on Industrial Data and Cloud will be launched by the end of the year. Within this Alliance, interested member states, industries, and relevant experts will work together to design the detailed business, investment, and implementation plan to deploy the next-generation cloud capacities for the public and private sectors.

    Member states recognize the need for additional investment, enhanced synergies across national initiatives, and a coordinated strategy to lead the cloud uptake in the private and public sectors across Europe. In particular, as agreed in the Declaration, the joint actions of member states will focus on:

    • Combining private, national, and EU investment in deploying competitive, green, and secure cloud infrastructures and services. This will mean pursuing the next steps, together with industry and experts, to shape the European Alliance on Industrial Data and Cloud. This Alliance will enable the development of several workstreams, including joint investment in cross-border cloud infrastructures and services, European marketplaces for cloud services, and EU cloud rulebook.
    • Defining a common European approach on federating cloud capacities, by working toward one set of joint technical solutions and policy norms to foster pan-European interoperable EU cloud services.
    • Driving the take-up of more secure, interoperable, and energy-efficient data centers and cloud services, particularly for small and medium enterprises, startups, and the public sector.

     

    Related Links

    Keywords: Europe, EU, Banking, Insurance, Securities, Cloud Computing, Cloud Rulebook, Cyber Risk, Regtech, EC

    Related Articles
    News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News
    News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News
    News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News
    News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News
    News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8521