EBA acknowledged the adoption, by EC, of the Implementing Regulation on the procedures and standard forms and templates for the provision of information for resolution plans of credit institutions and investment firms. The adoption of this Implementing Regulation means the repealing of Regulation (EU) 2016/1066. The Implementing Regulation, which is based on the final draft implementing technical standards on the provision of information for resolution plans (submitted by EBA in April 2018), was adopted by EC on October 23, 2018. The reporting requirements will apply as of December 31, 2018 (as part of the reporting framework version 2.8).
The original implementing technical standards on reporting for resolution plans, which were published in 2016, are being replaced, in 2018, by the new implementing technical standards. The publication of the new standards in the Official Journal of the European Union is pending. These new implementing standards and the corresponding Data Point Model (DPM) and XBRL taxonomy form part of the EBA reporting framework and will be applicable for submissions of data as of December 2018.
The Bank Recovery and Resolution Directive (BRRD) requires resolution authorities to draw up resolution plans that outline the actions to be taken in case an institution meets the conditions for resolution. The ITS on procedures, standard forms and templates for the provision of information for the purpose of resolution plans sets out a procedure that should be followed when resolution authorities require information about an institution for the purpose of drawing up a resolution plan.
Keywords: Europe, EU, Banking, Reporting, Implementing Technical Standards, Resolution Plan, BRRD, EC, EBA
Previous ArticleFINMA Consults on Revisions to the Anti-Money Laundering Ordinance
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).