DNB issued the banking newsletter for October 2017. This month's issue focuses on the ongoing preparations for Brexit in the UK, expected delay in the implementation of Payment Services Directive (PSD2), DNB survey to investigate the unintended effects of regulation, reporting of securitization transactions to DNB, and conclusions from the 2018 stress test.
The key highlights are as follows:
Despite the lack of clarity regarding a transition period, banks are well-prepared for limited access to the UK market.
PSD2 is likely to be implemented in spring 2018, instead of the planned date of entry of January 13, 2018, thus delaying both DNB's licensing and the entry into force of the new obligations for licensees, as explained in the DNB seminar of September 26, 2017.
DNB is conducting a survey to investigate the unintended effects of regulation. With this survey, DNB wants to find out whether supervision and regulation lead to less attention to strategy and risk management. The survey also contains questions about the proportionality of regulation, reporting, and supervisory practice. The survey will be launched shortly by banks, insurers, pension funds, and premium pension institutions. Results of the survey will be the basis for analysis and recommendations, which DNB will publish in the first quarter of 2018.
Entities must fulfill certain notification requirements for reporting of transactions involving securitization to DNB or ECB, including for the non-significant institutions (LSIs), which DNB oversees with ECB.
- ECB concludes from the 2018 SSM stress test, in which six Dutch significant banks also participated, that most European banks have good governance with respect to the interest rate risk.
- DNB updated Survey/QIS calendar for additional supervisory data requests from banks.
Keywords: Europe, Netherlands, Banking, Newsletter, QIS Calendar, PSD2, DNB
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