In a recently published Joint Declaration, European Parliament, Council, and Commission agreed to explore the possibility of introducing rules establishing reporting obligations for the member states, to ensure availability of information for evaluating the contribution to environmental objectives of the funds borrowed in the capital markets. To that end, EC will endeavor to make a legislative proposal during the first quarter of 2021. This is in context of the shared political ambition of the European Green Deal, which underlines the EC ambition to raise at least 30% of the funds to be borrowed in the capital markets through the issuance of bonds contributing to environmental objectives. The Joint Declaration was published in the Official Journal of European Union.
Related Link: Joint Declaration
Keywords: Europe, EU, Banking, Insurance, Securities, Reporting, European Green Deal, Green Bonds, EC
APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.
EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.
The EBA Single Rulebook question and answer (Q&A) tool updates for this month include answers to ten questions.
ESMA updated the set of questions and answers (Q&A), along with the reporting instructions and an XML schema for the templates set out in the technical standards on disclosure requirements, under the Securitization Regulation.
EU published Regulation 2021/337, which amends the Transparency Directive (2004/109/EC), regarding the use of the single electronic reporting format for annual financial reports.
The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.
In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.
In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.