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    DFSA Proposes Orders on Designation of SIFIs and Impaired Liabilities

    October 06, 2021

    The Danish Financial Supervisory Authority (DFSA) issued a proposal for an executive order on the calculation of indicators and factors for the designation of systemically important financial institutions or SIFIs. The executive order is proposed to be revised to reflect the new rules for the designation of systemically important financial institutions. Two significant changes are being proposed compared to the previous set of rules, as part of which the definition and method for calculating certain indicators are being added and deleted. The executive order is expected to enter into force on January 01, 2022. DFSA has requested comments on the draft until October 26, 2021.

    Additionally, DFSA issued a draft executive order on requirements for write-down liabilities, which lays down more detailed rules for the calculation of the requirement for impaired liabilities. The requirement for impaired liabilities is intended to ensure that a company has sufficient liabilities for loss absorption and recapitalization if the company becomes distressed or expected to be distressed and has to be wound up or restructured. The executive order is expected to enter into force on January 01, 2022. The consultation was open for comments until October 18, 2021.

     

    Related Links (in Danish)

    Comment Due Date: October 26, 2021/October 18, 2021

    Effective Date: January 01, 2022

    Keywords: Europe, EU, Banking, CRD, CRR, AML, Regulatory Capital, Governance, Basel, Bank Licenses, EBA

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