Featured Product

    EC Rule Amends Standards on Disclosure of Systemic Risk Indicators

    June 24, 2021

    EC published Regulation 2021/1018, which amends the implementing technical standards laid down in Regulation 2021/637, on the disclosure of indicators of global systemic importance. Regulation 2021/637 lays down the technical standards for public disclosures of certain information, as referred to in Titles II and III of Part Eight of the Capital Requirements Regulation or CRR (575/2013). Regulation 2021/1018 shall enter into force on the day of its publication in the Official Journal of the European Union and shall apply from June 28, 2021.

    Article 441 of the CRR requires global systemically important institutions (G-SIIs) to disclose, on an annual basis, the values of the indicators used for determining their score in accordance with the identification methodology. Regulation 2021/1018 involves insertion of Article 6a on the disclosure of indicators of global systemic importance into Regulation 2021/637. This new Article specifies that G-SIIs shall disclose information on values of the indicators used for determining the score referred to in Article 441 of CRR by using the uniform disclosure format, which shall be used for the collection of the indicator values by relevant authorities as set out in Article 3(2) of Delegated Regulation 1222/2014. G-SIIs shall disclose this information in their year-end Pillar 3 report. G-SIIs shall redisclose this information in their first Pillar 3 report following the final submission of the values of the indicators to the relevant authorities, where the submitted figures are different from the figures disclosed in the year-end Pillar 3 report. Regulation 2021/1018 also repeals Regulation 1030/2014 on the uniform formats and dates for the disclosure of values used to identify G-SIIs. 


    Related Link: Regulation 2021/1018 (PDF)

    Effective Date: June 24, 2021

    Keywords: Europe, EU, Banking, Implementing Technical Standards, CRR, G-SII, Systemic Risk, Disclosures, Basel, Pillar 3, Reporting, EC

    Featured Experts
    Related Articles

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582