BaFin published a form for submission of netting notifications, from October 01, 2020, in accordance with the Capital Requirements Regulation (CRR). The form is aimed at less significant institutions (LSIs), CRR investment firms, and non-CRR credit institutions for which the Capital Requirements Regulation (CRR) is to be applied in accordance with Section 1A of the German Banking Act.
The notification form was open for consultation from January 09, 2020 to March 06, 2020. Contrary to the draft submitted for consultation, the indication of the type of contractor is no longer part of the notification form. BaFin has also taken into account the opinion of the German Credit Industry. Institutions can address general questions about implementation directly to BaFin. The BaFinJournal will publish a paper on the topic in its August issue.
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Keywords: Europe, Germany, Banking, Less Significant Institutions, CRR, Netting, OTC Derivatives, Master Netting Agreement, Basel, BaFin
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