EBA added the New York State Department of Financial Services (United States) to the current list of non-EU, third-country supervisory authorities whose confidentiality regime can be regarded as equivalent. This is part of the guideline on equivalence of non-EU authorities for participation in supervisory colleges, which addresses the equivalence of confidentiality and professional secrecy regimes. The guidelines are addressed to competent authorities and will apply from April 16, 2020.
The deadline for competent authorities to report whether they comply with the guidelines will be two months after the publication of the translated guidelines. The guidelines are designed to help EU authorities in their assessment of third country equivalence and to facilitate cooperation with third country supervisory authorities and their participation in supervisory colleges overseeing international banks. EBA assesses confidentiality regimes of third countries with respect to Article 116 (6) of the Capital Requirements Directive.
Keywords: Europe, EU, Banking, Third Country Equivalence, Guidelines, New York State Department of Financial Services, CRD, Supervisory Colleges, EBA
Previous ArticleEP Report Examines Financial and Regulatory Challenges of Green Deal
The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.
The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.