Deloitte survey: New loan disbursements can rebound in 2021, supported by regulatory measures to sustain the lending activity of banks
1 October 2020
Banks in Central and Eastern Europe expect new loan disbursements to rebound in 2021, supported by regulatory measures aiming to sustain the lending activity, after a significant year-on-year decrease in 2020
ECB: ICAAPs need further improvements
24 August 2020
The European Central Bank published on 12th August 2020 a report on banks’ ICAAP practices.
EBA work programme for 2020 updated due to COVID-19 pandemic
20 August 2020
The European Banking Authority (EBA) published on August 14 its updated annual work programme for 2020 to reflect all the changes brought in by the COVID-19 pandemic to its activities.
Sustainable Finance Update: EU Climate Benchmarks
19 August 2020
The European Commission recently adopted three delegated acts containing the methodology and requirements for EU climate change benchmarks, which will supplement the EU Benchmarks Regulation.
RegTech solutions: EBA consults the industry
17 August 2020
The European Banking Authority (EBA) launched on August 12 a RegTech industry survey. All relevant stakeholders have been invited to participate, including financial institutions and ICT third party providers, by sharing their views and experience on the use of RegTech solutions
Deloitte study: Central Europe CFOs reach pessimism peak amid uncertainty caused by the COVID-19 pandemic
11 August 2020
Directorii financiari din Europa Centrală au atins un nivel record de pesimism, iar încrederea lor în evoluția economiei și a întregului mediu de afaceri continuă să scadă pe fondul incertitudinii create de pandemia de COVID-19
Financial services: Managing risk to get fit for a digital future
30 July 2020
Financial services firms need to manage digital risk, to deliver a better customer experience, make firms fit for the future, and to create a more resilient financial services ecosystem.
COVID-19 updated SREP: Focus on ICAAP, ILAAP, Credit Risk, Cyber Security and Business Continuity
27 July 2020
The European Banking Authority published on July 23rd 2020 Guidelines for the Supervisory Review and Evaluation Process for the year 2020. These Guidelines come as a response to the publication of EBA’s statement on additional supervisory measures in relation to the COVID-19 pandemic.
EBA supports EU Commission’s actions towards a more sustainable European economy
22 July 2020
The European Banking Authority (EBA) published on July 16th, 2020 its response to the European Commission’s consultation on a Renewed Sustainable Finance Strategy.
COVID-19: EBA calls to consider the impact on resolution strategies and resolvability assessment
16 July 2020
The European Banking Authority (EBA) published on July 9 a statement on resolution planning in light of the COVID-19 pandemic.
EBA provides clarifications on the application of the prudential framework in the context of COVID-19
13 July 2020
The European Banking Authority (EBA) published on July 7 a Report, which provides clarifications on the application of the prudential framework that have been raised as a consequence of the COVID-19 pandemics.
A new category of credit institutions – the EBA consults on application and requirements
13 July 2020
The European Banking Authority published on June 4th 2020 a number of documents regarding the Investment Firm Regulation (IFR) and Investment Firm Directive (IFD).
COVID-19: Council adopts exceptional rules to facilitate bank lending in the EU
10 July 2020
The Council of the EU has announced that it has adopted the proposed Regulation containing amendments to the Capital Requirements Regulation (CRR and CRR 2)
June 2020 World Economic Outlook report is published
8 July 2020
The June 2020 World Economic Outlook report has been recently published, offering an overall view upon the global economy following the COVID-19 pandemic.
EBA launches discussion paper on enhancing competent authorities’ supervisory powers
6 July 2020
Recently, the European Commission published its consultation on a new Digital Finance Strategy for Europe/FinTech Action Plan.
EU's new digital finance strategy: how will it impact the financial services market?
2 July 2020
Recently, the European Commission published its consultation on a new Digital Finance Strategy for Europe/FinTech Action Plan.
EBA issues disclosures and reporting ITS driven by CRR2 requirements
30 June 2020
The European Banking Authority (EBA) has just published new Implementing Technical Standards (ITS) on disclosure and supervisory reporting requirements that implement the changes introduced in the revised Capital Requirements Regulation (CRR2) and the Prudential Backstop Regulation.
Reuters: “Phantom billions plunge Wirecard into chaos”. The first noticeable failure on the fintech market
26 June 2020
Wirecard announced on June 22 that 1.9 billion euros ($2.1 billion) it had booked in its accounts likely never existed, a black hole that threatens to engulf the payments company and tarnish the reputation of Germany’s financial watchdog.
COVID-19 second wave?
25 June 2020
The world’s coronavirus lockdowns are being eased and six months after Covid-19 first appeared in Wuhan, China, much of the world is returning to some sort of normality.
EBA: Revised standards to identify staff with material impact on the institutions’ risk profile
22 June 2020
The EBA published on 18th June 2020 the final draft Regulatory Technical Standards (RTS) covering the criteria to identify all categories of staff whose professional activities have a material impact on the institutions’ risk profile (risk takers).
ACPR (Autorité de Contrôle Prudentiel et de Résolution), Banque de France publishes “Governance of Artificial Intelligence in Finance" discussion document
18 June 2020
The Autorité de contrôle prudentiel et de résolution (ACPR) has just published a discussion document on the governance of Artificial intelligence (AI) algorithms in finance.
The European Supervisory Authorities address ESG disclosures
16 June 2020
The European Supervisory Authorities (EBA, EIOPA and ESMA) have announced the organization of a public hearing on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.
BIS Bulletin: Central banks’ response to Covid-19 in advanced economies
12 June 2020
The Bank for International Settlement (BIS) published on June 5 its 21th Bulletin, presenting Central banks’ response to COVID-19 pandemics in advanced economies.
EBA targets banks’ digitalization boost by issuing a consultation on RTS regarding software assets
11 June 2020
The European Banking Authority (EBA) launched a consultation on draft Regulatory Technical Standards (RTS) specifying the prudential treatment of software assets.
The coronavirus emergency: the General Board of the European Systemic Risk Board takes first set of actions
3 June 2020
At its latest extraordinary meeting, the General Board of the European Systemic Risk Board (ESRB) discussed a first set of actions in five priority areas identified to address the impact of the coronavirus (COVID-19) emergency on the financial system from a macroprudential perspective.
Data management - a new challenge for the financial system
29 May 2020
Data plays a critical role in today’s financial system and its amount being handled, manipulated and acted on by financial markets participants has grown exponentially in recent years.
EBA publishes final Guidelines on Credit Risk Mitigation for institutions applying the IRB approach with own estimates of LGDs
28 May 2020
The European Banking Authority (EBA) published at the beginning of May its final Guidelines on credit risk mitigation (CRM) in the context of the advanced internal ratings-based (A-IRB) approach.
Deloitte Romania and SAS experts: New anti-fraud technology solutions emerge, but companies must ensure cooperation between compliance and anti-fraud departments
27 May 2020
A typical fraud case lasts 14 months before detection and causes a loss of over $8,000/month, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations.
Experți Deloitte România și SAS: Apar noi soluții tehnologice antifraudă, însă companiile trebuie să asigure cooperarea între departamentele antifraudă și de conformitate
27 mai 2020
Un caz obișnuit de fraudă este depistat în medie într-un interval de 14 luni și provoacă pierderi de peste 8.000 USD/lună, potrivit Raportului adresat Națiunilor din 2020 emis de Asociația Examinatorilor de Fraudă (Association of Certified Fraud Examiners - ACFE).
A pragmatic SREP delivers appropriate supervision for the crisis
26 May 2020
A new blog post by Elizabeth McCaul, Member of the Supervisory Board of the ECB describes the ECB’s flexibility in respect to SREP 2020 exercise.
EC decision makes software investments cheaper for banks earlier than expected
22 May 2020
At the end of April, the European Commission (EC) released its “quick fix” package, in response to COVID-19. The package implied a series of amendments to the CRR II requirements
Climate change: the ECB has launched a public consultation on its Guide on climate-related and environmental risks
22 May 2020
Following the adoption of the Paris Agreement on climate change and the UN 2030 Agenda for Sustainable Development in 2015, governments are making strides to transition to low-carbon and more circular economies on a global scale.
COVID-19 and operational resilience in the financial sector
20 May 2020
Monitoring of the operational resilience of financial services firms during the COVID-19 pandemic represents an essential role that the regulators must accomplish. Also, this will continue to be an important focus for them as restrictions are gradually eased.
Cloud outsourcing in financial services and COVID-19
15 May 2020
The COVID-19 outbreak has created a unique operational and business environment, including a large-scale shift to remote working and digital channels in a very short space of time. This, in turn, has shone a light on the flexibility and scalability of the Cloud.
Climate-related financial risks: the results of BIS survey on current initiatives
13 May 2020
Recently, The Bank for International Settlements (BIS) published a report which summarises the main results of a stocktake conducted by the Basel Committee of its members' initiatives on climate-related financial risks.
Is the pandemic revealing Romania’s potential to become an EU supply chain superhub?
13 May 2020
For the last three decades, Romania has enjoyed unprecedented growth. Since 1987, the country has increased its GDP by a staggering amount of $200 billion. Its main trade partners include Germany, Italy and France and its main trade exports
Pandemia ar putea evidenția potențialul României de a deveni un punct central în lanțul de aprovizionare a Uniunii Europene pe termen lung
13 mai 2020
În ultimele trei decenii, România s-a bucurat de o creștere fără precedent. Din 1987, PIB-ul țării a crescut impresionant, cu 200 de miliarde de USD.
Banks receive additional flexibility as EBA postpones market risk reporting requirements under CRR2
8 May 2020
The European Banking Authority (EBA) recently published its final draft Implementing Technical Standards (ITS) on specific reporting requirements for market risk. The document brings forward the first elements of the Fundamental Review of the Trading Book (FRTB) reflected as a reporting requirement
COVID-19 and the corporate sector liquidity
8 May 2020
On 28th of April, the Bank for International Settlements published a report regarding Coronavirus and corporate sector liquidity.
EU Commission adopts banking package to facilitate lending in the EU
6 May 2020
Recently the EU Commission adopted a banking package which aims to facilitate bank lending in order to support the real economy (households and companies) highly impacted by Coronavirus.
EU proposes urgent bank capital changes to respond to COVID-19
5 May 2020
Responding to the economic and financial conditions arising from the COVID-19 pandemic, the European Commission has published an Interpretative Communication on facilitating EU bank lending and proposed urgent targeted amendments to the EU Capital Requirements Regulation (CRR).
Consultation on Environmental, Social and Governance disclosure rules
4 May 2020
The European Supervisory Authorities (EBA, EIOPA and ESMA) have launched a Consultation Paper with focus on gathering significant input on the proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.
Proposal for the EU Green Bond Standards was published
29 April 2020
The Technical Expert Group (TEG) on sustainable finance, created in 2018 by the European Commission (EC), proposed in 2019 report that the EC should create a voluntary and non-legislative EU Green Bond Standard
Cel mai mare risc pentru macro-economie nu este recesiunea iminentă, ci prăbușirea monedei euro și a Uniunii Europene
27 aprilie 2020
La zece ani de la criza financiară, Uniunea Europeană demonstrează că a învățat foarte puțin despre cum să acționezi împreună și să iei măsuri paneuropene de combatere a crizei și de susținere a economiei.
Why the most significant macroeconomic risk is not the upcoming recession, but the collapse of the Euro and the European Union
27 April 2020
Ten years after the credit crisis, the European Union demonstrates that it has learned very little on how to unite and decisively take pan-EU measures to tackle crisis and support recovery.
EBA provides further guidance on the use of flexibility and calls for heightened attention to risks
24 April 2020
Following up on its previous strategic communications, the European Banking Authority (EBA) provided further clarity on how additional flexibility
Banking fraud, AML and KYC compliance in the era of COVID-19
23 April 2020
As the new coronavirus continues to spread across the globe, top-down measures are imposed to slow down its effects and minimize potential damages. Countries across the globe are taking diversified approaches to fight against the virus spread.
Frauda în sistemul bancar, combaterea spălării banilor și cunoașterea clientelei în era COVID-19
23 aprilie 2020
Pe măsură ce noul coronavirus continuă să se răspândească pe tot globul, măsurile impuse de autorități și organele competente ale fiecărui stat pentru a-i încetini efectele și a minimiza potențialele daune prezintă diverse forme și abordări.
Exercițiu de predicție a sorții și hainei pe care o va îmbrăca moratoriul public în România
16 aprilie 2020
Guvernul României a adoptat recent anumite măsuri destinate sprijinirii debitorilor care întâmpină dificultăți financiare din cauza pandemiei de COVID-19, instituind un cadru normativ care oferă dreptul anumitor debitori
Războiul celor două turnuri asupra ordonanței moratoriului în România
3 aprilie 2020
Chiar și în perioada de criză fără precedent pe care o traversează România, Parlamentul și Guvernul nu reușesc să aibă o viziune unitară asupra deciziilor de luat și a modului în care acestea se cuvine a fi legiferate, ceea ce, din păcate, adaugă la incertitudinea pe care o trăim toți în aceste zile
Noile măsuri ASF privind desfășurarea adunărilor generale ale emitenților pe durata stării de urgență
14 aprilie 2020
Noile măsuri privind desfășurarea adunărilor generale ale emitenților pe perioada stării de urgență generate de COVID-19, emise de Autoritatea de Supraveghere Financiară (ASF), au intrat în vigoare la 10 aprilie 2020.
Amânarea rambursării ratelor scadente conform OUG 37/2020 și normelor de aplicare: procedură, criterii de eligibilitate, neclarități și probleme de aplicare în practică
10 aprilie 2020
Prin OUG nr. 37/2020 privind acordarea unor facilități pentru creditele acordate de instituții de credit și IFN-uri anumitor categorii de debitori („Ordonanța”) Guvernul României a adoptat anumite măsuri destinate sprijinirii debitorilor care întâmpină dificultăți financiare din cauza epidemiei.
EBA’s opinion on supervisory reporting and Pillar 3 disclosures following COVID-19 outbreak
10 April 2020
The European Banking Authority (EBA) issued March 12th a statement on actions needed in order to mitigate the impact of the COVID-19 outbreak upon the banking sector.
EBA publishes final draft standards on key areas for the EU implementation of the FRTB
9 April 2020
The European Banking Authority (EBA) published on March 27th the final draft Regulatory Technical Standards (RTS) on the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB).
De ce economia românească are nevoie de „bani din elicopter” pentru cetățeni
7 aprilie 2020
O „lebădă neagră” nu este o criză obișnuită. Singurul mod în care poate fi evitat șocul unui blocaj la nivel global constă în aruncarea unui colac de salvare pentru întregul sistem, până când acesta poate funcționa din nou, iar modul de intervenție trebuie să fie substanțial, imediat și decisiv.
ECB and EBA provide clarification to banks in reaction to Covid-19
6 April 2020
The European Banking Authority (EBA) published on April 2, 2020 a more detailed guidance on the criteria to be fulfilled by legislative and non-legislative moratoria applied before 30 June 2020 and do not to trigger forbearance classification.
Since 30 March 2020, debtors may request creditors to postpone their due loan payment obligations for a maximum period of 9 months which cannot go beyond the end of 2020
1 April 2020
Please find below a summary of the key aspects outlined by the Emergency Government Ordinance no. 37/2020 on granting of certain facilities for the loans made available by credit institutions and non-banking financial institutions to certain types of debtors (the „Moratorium Ordinance”).
EBF recommends banks to halt dividends due to COVID-19 crisis
1 April 2020
Banks should halt 2020 dividend payments to preserve capital and keep lending to businesses and households until the impact of the coronavirus epidemic is clearer, the European Banking Federation (EBF) said on March 27th 2020.
Basel III implementation delayed by one year due to Covid-19 pandemics
30 March 2020
A press release published on March 27 announced deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19.
EBA and ESMA measures to further assist banks during COVID-19 crisis
27 March 2020
Both the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have issued recommendations and measures to be taken for further assisting the banking sector.
EBA issues statement on consumer protection and payment aspects in the context of COVID-19
26 March 2020
On March 25th the European Banking Authority (EBA) issued a statement in relation to consumer and payment issues in the context of the COVID-19 pandemic, which acknowledges the need to adopt appropriate measures to protect consumers and the orderly functioning of payment services across the EU.
ESMA Guidance on tick-size regime and phone recording requirements under COVID-19 pressure
26 March 2020
The European Securities and Markets Authority (ESMA) has recently issued two public statements in response to the COVID-19 pandemic.
ECB provides further flexibility to banks in reaction to Covid-19
25 March 2020
The European Central Bank (ECB) announced further measures to ensure that its directly supervised banks can continue to fulfil their role to fund households and corporations amid the coronavirus-related economic shock to the global economy.
BSG and EBF Opinion and Recommendations on COVID-19 Situation
24 March 2020
The EBA, the ECB and some National Competent Authorities (CAs) gave indications and/or have already announced several supervisory and prudential policy measures aimed to reduce the COVID-19 impact.
COVID-19 potential implications for the banking and capital markets sector
23 March 2020
COVID-19’s impact on individuals, communities, and organizations is rapidly evolving. In addition to the effects on the supply and demand side, COVID-19 has already jolted financial markets.
Update on Coronavirus emergency economic-aid packages
23 March 2020
The current global situation is changing rapidly. Therefore, following our 17th of March Coronavirus emergency economic-aid packages and monetary policy actions article, we are sending updates from around the world.
COVID-19: IFRS 9 Impairment and the Certificates of the Emergency Situation
20 March 2020
No forward-looking model could have predicted the features of COVID-19 medical situation and its implications.
Cashback la POS, o posibilă alternativă la bancomate?
20 martie 2020
De o manieră poate contraintuitivă, condițiile de criză ar putea duce la accelerarea adoptării unor soluții inovatoare, prin folosirea intensivă a tehnologiei pentru a răspunde problemelor ridicate de limitarea posibilității de deplasare a populației
Recomandările ESMA pentru participanții la piața de capital privind impactul COVID-19. Implicații juridice
19 martie 2020
ESMA (European Securities Markets Authority) împreună cu autoritățile naționale competente (ANC), a monitorizat situația piețelor și măsurile luate de entitățile supravegheate
Coronavirus emergency economic-aid package
17 March 2020
The EU Commission presented an immediate response to mitigate the socio-economic impact of the COVID-19 outbreak, centred on a European coordinated response
Declarațiile Autorității de Supraveghere Financiară (ASF) privind impactul COVID-19 asupra evenimentelor corporative și activității emitenților
13 martie 2020
ASF recomandă tuturor companiilor ale căror acțiuni sunt admise la tranzacționare să ia toate măsurile necesare în conformitate cu recomandările autorităților pentru a preveni și limita epidemia de COVID-19.
Supervisors around the world stand together against COVID-19
13 March 2020
The European Central Bank (ECB) and the European Banking Authority (EBA) have both announced an important set of measures related to COVID-19 to ensure that banks under its supervision can continue to serve the economy, as the economic impact of the virus becomes more apparent.
Efectele pandemiei de COVID-19 asupra piețelor financiare
13 martie 2020
Evoluțiile din piețele financiare sunt aproape imposibil de previzionat în acest moment. Comparația cu criza financiară din 2008 poate funcționa până la un punct, dacă ne raportăm doar la pierderile financiare generate de coronavirus.
Coronavirus: first sign of impact on banks
11 March 2020
The magnitude of the spread of coronavirus increases exponentially, thus amplifying the impact on the economy and daily life. The last week of February saw the worst performance for major stock markets since the 2008 financial crisis.