The Federal Financial Supervisory Authority of Germany (BaFin) proposed to amend the “Capital Investment Conduct And Organization Ordinance” and issued a draft circular on the minimum resolvability requirements for resolution planning.
Below are the key highlights of the recent updates:
- The draft circular on resolution planning defines the minimum requirements that institutions or group companies must meet to be considered resolvable with regard to the categories pursuant to Article 26 (3) of Regulation (EU) 2016/1075 on recovery and resolution planning. The minimum requirements for improving the resolvability of companies are structured according to seven dimensions, which are governance, loss-absorbing and recapitalization capacity, liquidity and funding, operational continuity and access to financial market infrastructure services, information systems and data requirements, communication, and separability and restructuring. BaFin will accept comments until July 01, 2022.
- The draft ordinance, amending the capital investment conduct and organization ordinance, intends to implement the Delegated Directive (EU) 2021/1270 into German law. Delegated Directive 2021/1270 amends Directive 2010/43/EU regarding the sustainability risks and sustainability factors to be taken into account for the Undertakings for Collective Investment in Transferable Securities (UCITS). The Delegated Directive 2021/1270 is to be implemented by July 31, 2022 and applied from August 01, 2022. The consultation was open until June 08, 2022.
Related Links (in German)
- Press Release on Minimum Resolvability Requirements
- Consultation on Minimum Resolvability Requirements
- Press Release on Amendments to Capital Investment Ordinance
- Consultation on Amendments to Capital Investment Ordinance
Keywords: Europe, Germany, Banking, Resolution Planning, Resolution Framework, Resolvability, Recovery And Resolution, Governance, Credit Risk, Basel, ESG, Sustainable Finance, BaFin
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.