ECB announced that it will start to directly supervise five banks in Bulgaria and eight banks in Croatia. Out of these banks, ECB will be responsible for directly supervising four Bulgarian and seven Croatian subsidiaries of the existing significant banking groups headquartered in Belgium, Greece, Italy, and Austria. The two new institutions to come under the direct ECB supervision are DSK Bank AD in Bulgaria (as of October 01) and Addiko Bank AG group in Austria (as of October 07). ECB made this announcement after establishing close cooperation with the Bulgarian National Bank and the Croatian National Bank and after assessing the significance of banks in these countries.
The supervision of Addiko Bank AG group will include supervision of its subsidiaries Addiko Bank d.d. in Slovenia and Addiko Bank d.d. in Croatia. ECB will also be responsible for oversight of the less significant institutions and will be in charge of the common procedures for all supervised entities in the two countries. The Bulgarian subsidiaries of the existing significant banking groups to be supervised by ECB are UniCredit Bulbank AD, United Bulgarian Bank AD, Eurobank Bulgaria AD, and Raiffeisenbank (Bulgaria) EAD. The Croatian subsidiaries of the existing significant banking groups to be supervised by ECB are Zagrebačka banka d.d., Privredna banka Zagreb d.d., Erste & Steiermärkische Bank d.d., PBZ stambena štedionica d.d., Raiffeisenbank Austria d.d., Raiffeisen stambena štedionica d.d., and Sberbank d.d. This step ensures that ECB fulfills the regulatory requirements that it must directly supervise, at an individual level, all banks belonging to significant groups and at least the three most significant banks in each country.
Related Link: Press Release
Keywords: Europe, EU, Bulgaria, Croatia, Less Significant Institutions, SSM, Significant Institutions, Banking Supervision, ECB
Previous ArticleBCB Adds Sustainability Dimension to Its Agenda in September 2020
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
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.
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).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
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.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.