Featured Product

    EC Publishes Decision on List of Equivalent Third Countries Under CRR

    October 04, 2021

    The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013). The Decision covers the equivalence of requirements applied to exposures to central governments, central banks, regional governments, local authorities, and public-sector entities in line with certain articles in CRR. Decision 2021/1753 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. This Decision repeals the Implementing Decision 2014/908/EU on the list of third countries considered to be equivalent.

    Bosnia and Herzegovina and North Macedonia have been included in the relevant lists of third countries and territories, after EC concluded that the prudential, supervisory, and regulatory requirements applied to credit institutions in Bosnia and Herzegovina and North Macedonia are at least equivalent to those applied in the European Union. The Implementing Decision 2021/1753 covers equivalence of requirements applied to 

    • credit institutions for the purposes of Article 107(4) of CRR. Annex I to the Decision shall be considered as applying supervisory and regulatory arrangements to credit institutions equivalent to those applied in the European Union.
    • investment firms for the purposes of Article 107(4) of CRR. Annex II to the Decision shall be considered as applying supervisory and regulatory arrangements to investment firms equivalent to those applied in the European Union.
    • exchanges for the purposes of Article 107(4) of CRR. Annex III to the Decision shall be considered as applying supervisory and regulatory arrangements to exchanges equivalent to those applied in the European Union.
    • exposures to central governments, central banks, regional governments, local authorities and public sector entities for the purposes of Articles 114, 115 and 116 of CRR. Annex IV to the Decision shall be considered as applying supervisory and regulatory arrangements equivalent to those applied to credit institutions in the European Union.
    • credit institutions and investment firms for the purposes Article 142 of CRR. Annex V to this Decision shall be considered as applying supervisory and regulatory arrangements equivalent to those applied to credit institutions and investment firms in the European Union.
    • certain other institutions, with Annex VI to this Decision being considered as applying supervisory and regulatory arrangements equivalent to those applied in the European Union for the purposes of Article 391 of CRR.

     

    Related Link: Implementing Decision 2021/1753

    Effective Date: October 24, 2021

    Keywords: Europe, EU, Banking, Securities, Investment Firms, CRR, Basel, Third Country, Equivalence Regime, Large Exposures, Concentration Risk, Credit Risk, Regulatory Capital, EC

    Featured Experts
    Related Articles
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8699