EU published, in the Official Journal of the European Union, a corrigendum to the Capital Requirements Directive, or CRD, 5 (2019/878). The corrigendum mentions corrections to six articles, including text related to additional own funds requirement and restriction on distributions in case of failure to meet the leverage ratio buffer requirement. CRD 5 amends CRD 4 (Directive 2013/36/EU) regarding exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers, and capital conservation measures. In June 2020, EU had also published a corrigendum to CRD 4 in the Official Journal of the European Union. The corrigendum to CRD 4 amended articles related to restrictions on distributions and assessment of capital conservation plans.
The corrigendum to CRD 5 mentions corrections to the following:
- Second subparagraph of Article 21a(2) related to approval of financial holding companies and mixed financial holding companies
- Article 21b(8) related to intermediate EU parent undertaking
- Article 104a(4) related to additional own funds requirement
- Point (b) of the second subparagraph of Article 141(2) related to restrictions on distributions
- Point (d) of the first subparagraph of Article 141(6) related to restrictions on distributions
- Point (b) of the second subparagraph of Article 141b(2) related to restriction on distributions in case of failure to meet the leverage ratio buffer requirement
Keywords: Europe, EU, Banking, CRD5, CRD IV, Corrigendum, Own Funds Regulation, Tier 1 Capital, Leverage Ratio, Regulatory Capital, Basel, European Parliament, European Council
Previous ArticleCSSF Announces CCyB Rate for Banks for Third Quarter of 2020
BIS published a paper that provides an overview on the use of big data and machine learning in the central bank community.
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.
ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.
MAS and The Association of Banks in Singapore (ABS) jointly issued a paper that sets out good practices for the management of operational and other risks stemming from new work arrangements adopted by financial institutions amid the COVID-19 pandemic.
ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.
BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.
EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.
SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.
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