PRA published a supervisory statement SS6/17 on compliance with the EBA guidelines on disclosure. PRA sets out a waiver for the requirement to disclose template ”EU CCR5-B – Composition of Collateral for exposures to CCR” (CCR5 B) in the EBA guidelines on disclosure requirements. SS6/17 is relevant to firms to which Part Eight of the Capital Requirements Regulation (CRR) applies. Of these firms, it is directly relevant to firms within the scope of application of the full EBA guidelines, which is limited to global systemically important institutions, other systemically important institutions, and to any other institution opted into the EBA guidelines on the basis of a supervisory decision.
PRA had, on June 21, 2016, published consultation paper CP10/17, titled “Compliance with the EBA’s Guidelines on disclosure: Composition of collateral for exposures to counterparty credit risk,” which proposed a new supervisory statement with the same name. PRA received no responses to its proposals and, therefore, published the final SS6/17 with no changes to the proposed policy. SS6/17 further clarifies how the threshold should be calculated. SS6/17 seeks to reduce the risk that firms’ compliance with the EBA Guidelines could enable the use, or non-use, of liquidity assistance to be deduced. EBA had published its final guidelines on regulatory disclosure requirements in December 2016, following an update of the Pillar 3 requirements by the Basel Committee in January 2015.
Keywords: Europe UK, Banking, SS6/17, Disclosure, CRR, Pillar 3, EBA, PRA
Next ArticleESMA Updates Q&A on Implementation of MiFID II
PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).
EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.
EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.
EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.
PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.
MAS published a statement guidance on dividend distribution by banks.
APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.
FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.
EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.
SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.