DNB issued the banking and insurance newsletters for May 2019. The newsletters highlight that Central Banks and Supervisors Network for Greening the Financial System (NGFS) published a “Call for Action” with six concrete recommendations on making the financial system more sustainable. The key recommendations are related to integrating climate-related risks into financial stability monitoring and micro-supervision, building awareness and encouraging technical assistance and knowledge-sharing, supporting the development of a taxonomy of economic activities, and achieving robust and internationally consistent climate and environment-related disclosures.
The the newsletters include:
- Update on the questions and answers (Q&A) on “DNB Assessment framework for Information security for DNB research” and made it more accessible to administrators and policymakers.
- Update on the recent relevant publications by ECB, EBA, EC, and other international forums.
- Good practices for intra-group agreements and positions of insurers.
- Update on a study, among ten medium-size insurers, into the management of operational and IT risks. The study shows that insurers can implement the application of EIOPA's guidelines on risk management more emphatically in that regard.
- Update on the calendar for banks.
Keywords: Europe, Netherlands, Banking, Insurance, Newsletter, QIS Calender, Q&A, Climate-Related Financial Risk, Sustainable Finance, DNB
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APRA issued a letter on the loss-absorbing capacity (LAC) requirements for domestic systemically important banks (D-SIBs) and published a discussion paper, along with the proposed the prudential standards on financial contingency planning (CPS 190) and resolution planning (CPS 900).
The European Commission (EC) launched a call for evidence, until March 18, 2022, as part of a comprehensive review of the macro-prudential rules for the banking sector under the Capital Requirements Regulation (CRR) and Directive (CRD IV).
The Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.
The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.
The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.
Through a letter addressed to the banking sector entities, the Office of the Superintendent of Financial Institutions (OSFI) announced deferral of the domestic implementation of the final Basel III reforms from the first to the second quarter of 2023.
EIOPA recently published a letter in which EC is informing the European Parliament and Council that it could not adopt the set of draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR) within the stipulated three-month period, given their length and technical detail.
The Financial Conduct Authority (FCA) published the third in a series of policy statements that set out rules to introduce the UK Investment Firm Prudential Regime (IFPR), which will take effect on January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.