Deutsche Bundesbank published the nationally deactivated validation rules for the German Commercial Code (HGB) users on the taxonomy 3.2, which became valid from December 31, 2022 and updated the list of international organizations related to AnaCredit reporting. Additionally, the Federal Financial Supervisory Authority of Germany (BaFin) is seeking comments, until March 08, 2023, on the draft general decree on remuneration notifications, as of the reporting date of December 31, 2022, and published a circular on the criteria for exemption from liquidity requirements for small securities institutions under the Investment Firms Regulation (IFR).
BaFin published a circular that specifies the criteria for the exemption of small securities institutions from the liquidity requirements pursuant to Article 43(4) of IFR (or Regulation 2019/2033). The Article 43 paragraph 1 subparagraph 1 of the IFR allows small securities institutions to be exempt from the liquidity requirement on a case-by-case basis. The draft circular will serve as a guide to implement the European Banking Authority (EBA) guidelines, which define additional criteria that must be considered when exempting smaller investment firms from the liquidity requirement. BaFin also published the draft general decree on remuneration notifications, in line with the revised EBA Guidelines, dated June 30, 2022, on the benchmarking exercises on the remuneration practices, on the gender pay gap and approved higher ratios. on a data collection with regard to high-income individuals under the Capital Requirements Directive, or CRD (2013/36/EU), and on the Investment Firms Directive, or IFD (2019/34). BaFin adjusted the notification requirements in accordance with section 24 (1a) nos. 5 and 6 of the German Banking Act (KWG) in conjunction with section 9a of the Notification Ordinance (AnzV) and new notification requirements. The national supervisors are obliged to pass on the information specified in the guidelines to the EBA by October 31, 2023. Banks in Germany annually report data on high earners and benchmarking remuneration trends and practices, under the Capital Requirements Directive.
Related Links (in German)
Keywords: Europe, Germany, Banking, Reporting, AnaCredit, International Organizations, Validation Rules, Reporting Framework 3.2, Remuneration Benchmarking, High Earners Data, Basel, Regulatory Capital, CRD, IFD, IFR, Investment Firms, Liquidity Risk, Bundesbank, BaFin
Previous ArticleChilean Regulator Issues Multiple Regulatory Updates
The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.
The European Banking Authority (EBA) recently published a report that recommends enhancements to the Pillar 1 framework, under the prudential rules, to capture environmental and social risks.
As a follow on from its prudential standard on the treatment of crypto-asset exposures, the Basel Committee on Banking Supervision (BCBS) proposed disclosure requirements for crypto-asset exposures of banks.
The Basel Committee on Banking Supervision (BCBS) and the European Banking Authority (EBA) have published results of the Basel III monitoring exercise.
The Prudential Regulation Authority (PRA) recently issued a few regulatory updates for banks, with the updated Basel implementation timelines being the key among them.
The U.S. Department of the Treasury has recently set out the principles for net-zero financing and investment.
The European Commission (EC) launched a stakeholder survey on the draft International Guiding Principles for organizations developing advanced artificial intelligence (AI) systems.
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.