May 22, 2019

EBA published its opinion that the supervisory and regulatory framework applicable to credit institutions in Argentina can be regarded as equivalent to that applied in EU. The opinion was addressed to EC following its assessment of non-EU countries' equivalence with the EU prudential supervision and regulatory requirements.

According to the Capital Requirements Regulation (CRR), under well-defined conditions certain categories of exposures to entities located in countries outside the EU can benefit from the same preferential treatment applied to the exposures of EU member states in terms of capital requirements. This would imply that EU credit institutions can apply preferential risk-weights to the relevant exposures to entities located in those countries. Against this background, and within its mandate to promote supervisory convergence, EBA was requested by EC to provide technical advice on the equivalence between the legal and supervisory frameworks of non-EU countries and the EU framework in view of prudential requirements for EU credit institutions and investment firms. The advice was requested on the following aspects:

  • Exposures to third-country investment firms, credit institutions, clearing houses and exchanges; exposures to third-country central governments and central banks; exposures to third-country regional governments or local authorities; exposures to third-country public-sector entities; exposures in the form of units or shares in third-country Collective Investment Undertakings (CIUs)
  • Definition of a large financial-sector entity.

 

Related Links

Keywords: Europe, Americas, EU, Argentina, Banking, Supervisory and Regulatory Framework, CRR, Opinion, Third Country, Equivalence Decisions, EC, EBA

Related Articles
News

FSB Chair Reports to G20 on Implementation of Financial Reforms

FSB published the letter to G20 Leaders and the opening statement from an FSB briefing by the FSB Chair Randal K. Quarles.

June 25, 2019 WebPage Regulatory News
News

FSB Summarizes Progress in Implementation of G20 Regulatory Reforms

FSB published a summary progress report on implementation of the G20 financial regulatory reforms.

June 25, 2019 WebPage Regulatory News
News

EBA Issues 2020 Stress Test Methodology and Templates for Discussion

EBA published the 2020 EU-wide stress test draft methodology, templates, and template guidance, for discussion with the industry.

June 25, 2019 WebPage Regulatory News
News

SRB Updates MREL Policy to Reflect Changes in CRR 2

SRB updated its policy on minimum requirement for own funds and eligible liabilities (MREL) as a result of the revisions in the recent Banking Package.

June 25, 2019 WebPage Regulatory News
News

OSFI Updates Manual of Reporting Forms and Instructions for Insurers

OSFI issued its annual update for 2019 to the manual of financial reporting forms and instructions for property and casualty (P&C) insurance companies.

June 25, 2019 WebPage Regulatory News
News

PRA Consults on PRA110 Reporting Frequency Threshold

PRA proposed (CP14/19) to amend the reporting frequency of PRA110 reporting template (PRA110) when a firm is in stress.

June 25, 2019 WebPage Regulatory News
News

APRA Updates Guidance on Managing Information Security Risks

APRA released an updated Prudential Practice Guide CPG 234 on managing information security risks, including cyber-crime.

June 25, 2019 WebPage Regulatory News
News

IMF Releases Report on 2019 Article IV Consultation with United States

IMF published its staff report in the context of the 2019 Article IV consultation with the United States.

June 24, 2019 WebPage Regulatory News
News

FCA and US Agencies on Addressing Issues in Credit Derivatives Market

U.S. SEC Chairman Jay Clayton, U.S. CFTC Chairman J. Christopher Giancarlo, and UK FCA Chief Executive Andrew Bailey issued a joint statement announcing plans to address concerns regarding opportunistic strategies in the credit derivatives markets.

June 24, 2019 WebPage Regulatory News
News

BIS Report Discusses Regulatory Issues Related to Big Techs in Finance

BIS has pre-released a chapter of the BIS Annual Economic Report; this chapter focuses on the risks and opportunities presented by large technology firms in the financial services sector.

June 23, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3315