Featured Product

    ECB Updates List of Supervised Entities in EU in December 2019

    December 04, 2019

    ECB updated the list of supervised entities in EU, following the annual review of significance and ad hoc assessments. From January 01, 2020, the number of supervised entities will decrease to 117, from 119 a year earlier. The changes are the result of new group structures, a license withdrawal, business relocations in view of Brexit, regulatory changes, and other developments. The list contains the ECB-supervised institutions, which comprise the significant (part A) and less significant credit institutions (part B). The cut-off date for these changes is November 01, 2019.

    While the number of significant institutions has fallen, banks directly supervised by ECB are generally becoming larger and more complex, as banking groups consolidate or relocate activities from UK to the euro area. The key changes follow:

    • ECB will directly supervise Akcinė bendrovė Šiaulių bankas, which was classified significant after it became the third largest credit institution in Lithuania, from January 01, 2020.
    • Owing to Brexit, four banks are expected to significantly increase their business activities and have been placed under the direct supervision of ECB: UBS Europe SE, J.P. Morgan AG, Morgan Stanley Europe Holding SE, and Goldman Sachs Bank Europe SE.
    • Credito Cooperativo Italiano S.p.A., a new banking group led by Cassa Centrale Banca and formed after a law was introduced in Italy on the consolidation of cooperative banks, was classified as significant because its assets exceeded EUR 30 billion. 
    • ECB took over the supervision of AS “PNB Banka” at the request of the Latvian Financial and Capital Market Commission and ECB later declared the bank “failing or likely to fail.”
    • Nine banks were removed from the list of ECB-supervised banks. Of these, five became branches of significant institutions and were thus removed from the list while still being supervised as part of the group: Luminor Bank AB, Luminor Bank AS, and branches of Barclays Bank plc in Germany, France, and Italy. ECB stopped direct supervision of three banks following an amendment of the Capital Requirements Directive (CRD) that excluded development banks from the supervisory remit of ECB: Landeskreditbank Baden-Württemberg-Förderbank, Landwirtschaftliche Rentenbank, and NRW.BANK. Another bank, ABLV Bank Luxembourg, S.A., had its license withdrawn.

    ECB reviews certain parameters that determine whether a credit institution or a group fulfills any of the significance criteria according to the SSM Framework Regulation (EU Regulation No 468/2014). In the SSM framework, the types of supervised banks are referred to as credit institutions, financial holding companies, mixed financial holding companies, and a branch established in a participating member state by a credit institution that is established in a non-participating member state. ECB updates the list of supervised entities regularly and the list reflects status of banks at the given cut-off date. This date does not necessarily coincide with the date of the actual decision on the significance of a bank. The list is compiled on the basis of significance decisions adopted and notified by ECB that refer to events that became effective up to the cut-off date.

     

    Related Links

    Keywords: Europe, EU, Banking, Supervised Entities, Significant Credit Institutions, Less Significant Credit Institutions, Banking Supervision, SSM, CRD, Brexit, ECB

    Featured Experts
    Related Articles
    News

    HKMA Sets Out Regulatory Treatment for Personal Loan Guarantee Scheme

    HKMA has published a circular that sets out the regulatory and reporting treatment for loans that participating authorized institutions may grant to eligible borrowers under the 100% Personal Loan Guarantee Scheme.

    April 20, 2021 WebPage Regulatory News
    News

    ECB Completes Targeted Review of Internal Models of Banks

    ECB published the results of the assessment of internal models that banks use to calculate risk-weighted assets for credit, market, and counterparty credit risks.

    April 19, 2021 WebPage Regulatory News
    News

    PRA on Regulatory Treatment of Loans Under Mortgage Guarantee Scheme

    PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.

    April 19, 2021 WebPage Regulatory News
    News

    FCA Consults on Rules and Reporting Forms for Investment Firms Regime

    FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).

    April 19, 2021 WebPage Regulatory News
    News

    HMT and BoE Decide to Explore Central Bank Digital Currency in UK

    HM Treasury and BoE announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential central bank digital currency in UK.

    April 19, 2021 WebPage Regulatory News
    News

    EIOPA Sets Out Expectations on Use of Climate Risk Scenarios in ORSA

    EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).

    April 19, 2021 WebPage Regulatory News
    News

    Bundesbank Updates AnaCredit Reporting Requirements

    Bundesbank published two circulars on AnaCredit reporting requirements. Circular 27/2021 covers changes to the reporting of branches, additional attributes to be reported for investment funds from August 01, 2021, and updates to the list of international organizations.

    April 16, 2021 WebPage Regulatory News
    News

    EC Sets Out Standards for MREL Reporting by Competent Authorities

    EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).

    April 16, 2021 WebPage Regulatory News
    News

    BCBS to Advance Work on Suptech, Climate Risk, and Basel Monitoring

    BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.

    April 16, 2021 WebPage Regulatory News
    News

    PRA Finalizes Supervisory Approach for Non-Systemic Banks in UK

    PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.

    April 15, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6874