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

    EIOPA Report Analyzes Use and Impact of Long-Term Guarantee Measures

    EIOPA submitted—to the European Parliament, the Council of the European Union, and EC—its 2020, fifth, and last annual report on long-term guarantee measures and measures on equity risk.

    December 03, 2020 WebPage Regulatory News
    News

    BIS, SNB, and SIX Announce Successful Completion of CBDC POC

    The BIS Innovation Hub Swiss Centre, SNB, and the financial infrastructure operator SIX announced the successful completion of a joint proof-of-concept (PoC) experiment as part of the Project Helvetia.

    December 03, 2020 WebPage Regulatory News
    News

    EBA Sets Out Treatment of Certain Banking Book Positions Under FRTB

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

    December 03, 2020 WebPage Regulatory News
    News

    EIOPA Consults on Integrating Climate Change into SII Standard Formula

    EIOPA published discussion paper on a methodology for the potential inclusion of climate change in the Solvency II (sometimes also written as SII) standard formula when calculating natural catastrophe underwriting risk.

    December 02, 2020 WebPage Regulatory News
    News

    EU Issues Corrigenda to Investment Firms Directive and Regulation

    EU published, in the Official Journal of the European Union, corrigenda to the Directive and the Regulation on the prudential requirements and supervision of investment firms.

    December 02, 2020 WebPage Regulatory News
    News

    MAS Proposes Changes to Rules Arising from Banking Amendment Act

    MAS proposed amendments to certain regulations, notices, and guidelines arising from the Banking (Amendment) Act 2020.

    December 02, 2020 WebPage Regulatory News
    News

    PRA to Elaborate on Approach to Transposition of CRD5 by Mid-December

    PRA published a statement that explains when to expect further information on the PRA approach to transposing the Capital Requirements Directive (CRD5), including its approach to revisions to the definition of capital for Pillar 2A.

    November 30, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Aspects of Insurance Act, Solvency Standards & IFRS17

    RBNZ launched consultations on the scope of the Insurance Prudential Supervision Act (IPSA) 2010 and on the associated Insurance Solvency Standards.

    November 30, 2020 WebPage Regulatory News
    News

    SRB Sets Out Work Program for 2021-2023

    SRB published the work program for 2021-2023, setting out a roadmap to further operationalize the Single Resolution Fund and to achieve robust resolvability of banks under its remit over the next three years.

    November 30, 2020 WebPage Regulatory News
    News

    EIOPA Consults on KPIs on Sustainability for Non-Financial Reporting

    EIOPA is consulting on the relevant ratios to be mandatorily disclosed by insurers and reinsurers falling within the scope of the Non-Financial Reporting Directive as well as on the methodologies to build these ratios.

    November 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6191