Featured Product

    EBA Publishes Single Rulebook Q&A, Adjusts Q&A Process

    February 25, 2022

    The European Banking Authority (EBA) published answers to 38 questions in the Single Rulebook Question and Answer (Q&A) tool in February. The answers relate to topics such as liquidity, credit, and market risks; Supervisory Review and Evaluation Process (SREP) and Pillar 2; model validation; own funds requirements; and reporting issues related to liquidity risk, leverage ratio, FINREP, and COREP. EBA also announced adjustments to the Single Rulebook Q&A process to ensure that questions are answered efficiently and within a reasonable time. Going forward, EBA will prioritize Q&As that can contribute the most to the harmonization of regulation and supervision, with a set target to close Q&As within nine months.

    EBA has adjusted the admissibility criteria, which will prioritize Q&As with issues that are relevant to a broad set of stakeholders; material from a prudential, payments, consumer protection, resolution or other perspectives within the EBA’s remit and where additional EBA guidance or clarification would add real value. This move comes under the backdrop of an existing backlog of older questions that were received through the Q&A tool prior to January 01, 2020 when the Q&A process was updated as part of the last review of the European Supervisory Authorities or ESAs. Q&As received before January 01, 2020, which EBA has not addressed so far, will be rejected, unless they are very close to being finalized. It is likely that a large majority of these questions may no longer be relevant since new legislative or regulatory developments have occurred—for example, with the revised Capital Requirements Directive/Regulation and the Bank Recovery and Resolution Directive. However, EBA recognizes that some of these questions may still benefit from clarification and will notify submitters affected by this rejection, indicating the possibility to resubmit the question. In that scenario, resubmitted questions would, however, have to be adapted to reflect any legislative, regulatory, or other relevant developments that may have occurred. EBA will aim to address such resubmissions as a matter of priority. In addition, EBA and the European Commission will make efforts to address, as soon as possible, any questions that have been submitted since January 2020 and remain unanswered.

     

    Related Links

     

    Keywords: Europe, EU, Banking, Q&A, Single Rulebook, Reporting, Liquidity Risk, Credit Risk, CRR, Basel, SREP, Market Risk, Regulatory Capital, EBA

    Featured Experts
    Related Articles
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    News

    FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates

    The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.

    December 20, 2022 WebPage Regulatory News
    News

    FSB Reports Assess NBFI Sector and Progress on LIBOR Transition

    The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.

    December 20, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8697