BaFin submitted a draft form for submission of netting notifications in accordance with Article 295 of the Capital Requirements Regulation (CRR) for consultation. According to Article 295 of CRR, institutions can submit netting agreements to the supervisory authority for recognizing the risk-reducing effect. The form is aimed at less significant institutions (LSIs), the non-CRR credit institutions for which the CRR is to be applied in accordance with Section 1A of the German Banking Act (KWG) and CRR investment firms. The comment period for the draft form will remain open until March 06, 2020.
Related Links (in German)
Comment Due Date: March 06, 2020
Keywords: Europe, Germany, Banking, Less Significant Institutions, CRR, Netting, OTC Derivatives, Master Netting Agreement, BaFin
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In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.
The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.
The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.
The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.
The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.
The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards
The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.