SRB Publishes Presentations from Ninth Industry Dialog
SRB organized its Ninth Industry Dialog in Brussels. The event brought together representatives from EU-level and national banking federations and their associates from Banking Union participating member states, along with the representatives from national resolution authorities, EC, European Parliament, and ECB. SRB has published two event presentations: one presentation is on the banking package and the next minimum requirement for own funds and eligible liabilities (MREL) policy and the other presentation covers highlights of the outcomes of the consultation on expectations from banks to demonstrate resolvability. The presentation on MREL policy highlights that a consultation on MREL policy will be published in the first quarter of 2020 and the final MREL policy will be published in the second quarter of 2020.
As part of the comments to the consultation on the expectations from banks to demonstrate resolvability, banks have highlighted the need for further operational guidance. SRB will review industry comments in detail. The outcome of the consultation will be published together with the final Expectations for Banks document on the SRB website in the first quarter of 2020. Banks are also expected to follow the Expectations in their progress reports.
Related Links
Keywords: Europe, EU, Banking, MREL, MREL Policy, Banking Package, Resolvability, Banking Union, Industry Dialog, Resolution Framework, SRB
Previous Article
EIOPA Report Examines Asset and Liability Management of InsurersRelated Articles
EBA Finalizes Remuneration Standards for Investment Firms in EU
EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).
ECA Recommends Actions to Enhance Resolution Planning for Banks
EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.
BoE Publishes Key Elements of the 2021 Stress Testing for Banks in UK
BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.
PRA Proposes Rules on Identity Verification of Depositor Protection
PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).
FSB Publishes Work Program for 2021
FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.
FCA Issues Update on Move to New Data Collection Platform
FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.
Bundesbank Publishes Derivation Rules for Reporting by Banks
Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.
FED Revises Capital Planning and Stress Testing Requirements for Banks
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs Publish Reporting Templates for Financial Conglomerates
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.