EBA announced that it will launch the 2021 EU-wide stress test exercise, with the publication of the macroeconomic scenarios on January 29, 2021. EBA expects to publish the results of the exercise by July 31, 2021. In another development in EU, ECB has decided to set up a climate change center in early 2021, to bring together the work on climate issues in different parts of the bank. The new unit, which will consist of about ten staff members working with the existing teams across the bank, will report to the ECB President Christine Lagarde, who oversees the work on climate change and sustainable finance. The new structure will be reviewed after three years, as the aim is to ultimately incorporate climate considerations into the routine business of ECB.
Keywords: Europe, EU, Banking, Stress Testing, Climate Change Risk, Climate Change Center, Sustainable Finance, ESG, Basel, ECB, EBA
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The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.
The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.
The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.
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The European Banking Authority (EBA) Single Rulebook Question and Answer (Q&A) tool updates for this month include answers to 10 questions.
The European Commission, or EC, finalized the Implementing Regulation 2021/2017 with respect to the benchmark portfolios, reporting templates, and reporting instructions for the supervisory benchmarking of internal approaches for calculating own funds requirements.
The European Commission (EC) has adopted a package of measures related to the Capital Markets Union.
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