BaFin Consults on Multiple Changes Resulting from CRR2 and CRD5
BaFin is consulting (Consultation 15/2020) to amend the Ordinance on large exposures (and “million loans”; GroMiKV), the Solvency Ordinance (SolvV), and the Ordinance on regulatory requirements for remuneration system of institutions (InstitutsVergV). The amendments to these ordinances stem from changes in the provisions of the Capital Requirements Regulation (CRR2) and the Capital Requirements Directive (CRD5) as well as the changes to the Banking Act (KWG). Among others, certain amendments to the Solvency Ordinance and the Ordinance related to remuneration requirements would not come into force before January 01, 2023. The consultation closed on December 04, 2020.
Related Links (in German)
Comment Due Date: December 04, 2020
Keywords: Europe, Germany, Banking, Large Exposures, Regulatory Capital, Remuneration, CRR2, CRD5, Banking Act, Basel, BaFin
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