DNB issued the banking and insurance newsletters for April 2019. The newsletters highlight that Dutch Authority for the Financial Markets (AFM) and DNB want to make banks, insurers, and pension funds aware of the risks and the importance of the transition to alternative, risk-free benchmarks (expected in 2022). The supervisors request market parties to analyze the risks of the transition and to take appropriate action, so that they are prepared in time.
The banking newsletter also highlights that DNB has decided to adopt a Belgian macro-prudential measure for the mortgage market. Dutch banks, using internal ratings-based (IRB) approach, that have more than EUR 2 billion in Belgian residential mortgages through branches or directly across borders must apply a higher risk-weight. The additional key highlights of the newsletters include: an update on the study conducted by DNB on management of counterparty credit risk on healthcare providers at four healthcare insurers; recent relevant publications by ECB, EBA, EC, and other international forums; and an updated calendar for banks
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, QIS Calendar, IRB, Benchmarks, DNB
FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.
HKMA urged authorized institutions to take early action to adhere to the IBOR Fallbacks Protocol, which ISDA is expected to publish soon.
FSB published a global transition roadmap for London Inter-bank Offered Rate (LIBOR).
HM Treasury published a document that summarizes the responses received from a consultation on the approach of UK to transposition of the revised Bank Resolution and Recovery Directive (BRRD2).
HM Treasury published the government response to the feedback received on the consultation for updating the prudential regime of UK before the end of the Brexit transition period.
In a recent statistical notice, BoE announced publication of the reporting schedule for statistical returns for 2021.
EC welcomed the joint declaration by 25 EU member states on building the next generation of cloud in Europe.
PRA published the final policy statement PS22/20, which contains the updated supervisory statement SS12/13 on counterparty credit risk.
FSB published an update on its work to address market fragmentation. FSB is working in this area in collaboration with the other standard-setting bodies.
EBA proposed revisions to the guidelines on major incident reporting under the second Payment Service Directive (PSD2).