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Perspectives

Responsible Banking initiative | fight against climate change

In its initiative to fight climate change, the United Nations Organization has developed the “Responsible Banking” principles, which have been early endorsed by an impressive 130 banks (approximately a third of the global industry), before their launch on 22 and 23 September.

In its initiative to fight climate change, the United Nations Organization has developed the “Responsible Banking” principles, which have been early endorsed by an impressive 130 banks (approximately a third of the global industry), before their launch on 22 and 23 September.

Perspectives

EBA published discussion paper on synthetic securitization framework

On September 25, 2019 EBA published a discussion paper on the simple, transparent, and standardized (STS) framework for synthetic securitization, developed in response to the mandate to EBA in the Securitization Regulation (2017/2402).

On September 25, 2019 EBA published a discussion paper on the simple, transparent, and standardized (STS) framework for synthetic securitization, developed in response to the mandate to EBA in the Securitization Regulation (2017/2402).

Perspectives

On-site inspections 2018: Red flags raised on internal governance issues, credit and IT risk

In the last four years, the ECB’s Joint Supervisory Teams have undertaken various on-site inspections (OSIs) in their attempt to supervise significant banks within the framework of the Single Supervisory Mechanism (SSM). The OSIs are a successful tool for examining the banks’ internal control systems, business models and governance.

In the last four years, the ECB’s Joint Supervisory Teams have undertaken various on-site inspections (OSIs) in their attempt to supervise significant banks within the framework of the Single Supervisory Mechanism (SSM).

Perspectives

IFRS 9 requirements to impact Romanian non-financial institutions, according to the National Bank

The National Bank of Romania published its requirements for the application of IFRS 9 standards to non-financial institutions.

IFRS 9 requirements to impact Romanian non-financial institutions, according to the National Bank

Perspectives

UK watchdog Provides Final Guidance on Current Cryptoassets Regulation

The Financial Conduct Authority (FCA) recently published its Final Guidance, setting the regulatory perimeter of crypto currency asset activities. This comes as a result to the consultation paper released at the beginning of the year.

The Financial Conduct Authority (FCA) recently published its Final Guidance, setting the regulatory perimeter of crypto currency asset activities. This comes as a result to the consultation paper released at the beginning of the year.

Perspectives

European Banking Authority (EBA) publishes report on Basel III reforms

In December 2017, the Basel Committee completed its work on the Basel III framework, consisting of a set of prudential standards, which will be phased-in from 2022 together with the framework for market risk.

In December 2017, the Basel Committee completed its work on the Basel III framework, consisting of a set of prudential standards, which will be phased-in from 2022 together with the framework for market risk.

Perspectives

European Banking Authority (EBA) launches report on regulatory approaches for FinTech

One of EBA’s main responsibilities as outlined within the Commission’s FinTech Action Plan refers to monitoring the regulatory perimeter of national CAs (Competent Authorities) under its remit. This exercise was performed by addressing CAs specific questions, covering the period between 1st September 2017 and 22nd March 2019.

One of EBA’s main responsibilities as outlined within the Commission’s FinTech Action Plan refers to monitoring the regulatory perimeter of national CAs (Competent Authorities) under its remit.

Perspectives

EBA launches consultation on contractual payments’ weighted average maturity

On July 31st, The European Banking Authority (EBA) launched a public consultation on draft Guidelines (GLs) on the determination of the weighted average maturity (WAM) of the contractual payments due under the tranche, as per the Capital Requirements Regulation (CRR) Article 257(1) (a).

On July 31st, The European Banking Authority (EBA) launched a public consultation on draft Guidelines (GLs) on the determination of the weighted average maturity (WAM) of the contractual payments due under the tranche, as per the Capital Requirements Regulation (CRR) Article 257(1) (a).

Perspectives

EBA publishes its roadmap on IFRS 9 and launches IFRS 9 benchmarking exercise

On July 23th, the European Banking Authority (EBA) published the IFRS 9 roadmap with the scope of providing a comprehensive overview of planned monitoring activities on IFRS 9 implementation. The EBA also launched an IFRS 9 benchmarking exercise on a sample of institutions aimed at analysing the different modelling practices followed by institutions and how IFRS 9 implementation impacts the amount of expected credit losses in terms of own funds and regulatory ratios.

On July 23th, the European Banking Authority (EBA) published the IFRS 9 roadmap with the scope of providing a comprehensive overview of planned monitoring activities on IFRS 9 implementation.

Perspectives

EBA issues FinTech Impact Report

European Banking Authority (EBA) issues the Report on the impact of FinTech on Payment Institutions’ and E-Money Institutions’ Business Models, focusing on the current trends and drivers, the different approaches to FinTech, the interaction with BigTech firms, and the level of implementation of innovative technologies.

European Banking Authority (EBA) issues the Report on the impact of FinTech on Payment Institutions’ and E-Money Institutions’ Business Models.

Perspectives

EBA and ECB progress towards harmonized supervision

Significant progress has been made by the European Banking Authority (EBA) and the European Central Bank (ECB) towards attaining harmonised supervision.

Significant progress has been made by the European Banking Authority (EBA) and the European Central Bank (ECB) towards attaining harmonised supervision.

Perspectives

The importance of culture and governance for good banking

Andrea Enria, Chair of the Supervisory Board of the ECB, gave a speech during a Conference of the Federation of International Banks, held in Dublin, Ireland, on the 20th of June 2019 about the public image of the banks, that has suffered a lot over the past few years.

Andrea Enria, Chair of the Supervisory Board of the ECB, gave a speech during a Conference of the Federation of International Banks, held in Dublin, Ireland, on the 20th of June 2019 about the public image of the banks, that has suffered a lot over the past few years.

Perspectives

The future role of EBA in deepening EU financial integration

The inauguration of the Paris offices of the European Banking Authority (EBA) was a good opportunity to discuss EBA's priorities in the next years.

The inauguration of the Paris offices of the European Banking Authority (EBA) was a good opportunity to discuss EBA's priorities in the next years.

Perspectives

MiFID II 18 months on – what is under the supervisory spotlight?

It has now been almost a year and a half since MiFID II, the cornerstone of European capital markets legislation, became applicable. In this time, where have EU national competent authorities (NCAs) focused their supervisory activity, and what are they planning to look at next? To answer these questions, Deloitte subject matter experts across 16 EU Member States participated in a survey on MiFID II supervision undertaken by the NCAs in their jurisdictions.

In this time, where have EU national competent authorities (NCAs) focused their supervisory activity, and what are they planning to look at next? To answer these questions

Perspectives

EBA consults on draft Guidelines on loan origination and monitoring

The European Banking Authority (EBA) launched on June 19th, a consultation on its draft Guidelines on loan origination and monitoring. EBA developed the Guidelines in response to the European Council Action Plan on tackling the high level of non-performing exposures.

The European Banking Authority (EBA) launched on June 19th, a consultation on its draft Guidelines on loan origination and monitoring. EBA developed the Guidelines in response to the European Council Action Plan on tackling the high level of non-performing exposures.

Perspectives

Cyber attack warning from the Bank of England

Anil Kashyap, a member of the Bank of England financial policy committee, has warned it is only “a matter of time” before Britain is hit by a state-backed cyber attack that could corrupt the financial system. UK banks should be prepared to tackle huge data breaches and a cyber attack that could corrupted their records.

Anil Kashyap, a member of the Bank of England financial policy committee, has warned it is only “a matter of time” before Britain is hit by a state-backed cyber attack that could corrupt the financial system.

Perspectives

Risk Reduction Measures Package

On June 7th, the EU’s bank capital legislative package (CRD5/CRR2/BRRD2), also known as the Risk Reduction Measures (RRM) package, was published in the Official Journal of the European Union. After 20 days, the legislative package will enter into force.

On June 7th, the EU’s bank capital legislative package (CRD5/CRR2/BRRD2), also known as the Risk Reduction Measures (RRM) package, was published in the Official Journal of the European Union. After 20 days, the legislative package will enter into force.

Perspectives

Future of Banking Supervision

At the end of May, a conference on the Banking Union took place, where Pentti Hakkarainen, Member of the Supervisory Board of the ECB made a speech about the overlapping responsibilities within the banking industry supervision.

At the end of May, a conference on the Banking Union took place, where Pentti Hakkarainen, Member of the Supervisory Board of the ECB made a speech about the overlapping responsibilities within the banking industry supervision.

Perspectives

FSB Thematic Peer Review on Bank Resolution Planning

The Financial Stability Board (FSB) recently published the findings of its Thematic Peer Review on Bank Resolution Planning, which covered all 25 FSB member jurisdictions.

The Financial Stability Board (FSB) recently published the findings of its Thematic Peer Review on Bank Resolution Planning, which covered all 25 FSB member jurisdictions.

Perspectives

EBA - Impact of the Basel III reforms and compliance with liquidity measures in the EU

The European Banking Authority (EBA) published on March 20th two reports: one that measures the impact of implementing the final Basel III reforms and the other that monitors the implementation of liquidity measures in the EU.

The European Banking Authority (EBA) published on March 20th two reports: one that measures the impact of implementing the final Basel III reforms and the other that monitors the implementation of liquidity measures in the EU.

Perspectives

Central Banks and Supervisors call for action regarding climate-related financial risks

NGFS (Network for Greening the Financial System), an international group of Central Banks and supervisors has recently called for action regarding the climate-change financial risks. The challenges are unprecedented, so critical measures have to be taken as soon as possible. It is believed that, a global standardized framework on climate disclosures is much needed at the moment.

NGFS (Network for Greening the Financial System), an international group of Central Banks and supervisors has recently called for action regarding the climate-change financial risks.

Perspectives

Cryptocurrencies Pose Risks to Banks, Warns Basel Committee

The past few years have seen a growth in crypto-assets. While the crypto-asset market remains small relative to that of the global financial system, and banks currently have very limited direct exposures, The Basel Committee on Banking Supervision, a group of international banking authorities is of the view that the continued growth of crypto-asset trading platforms and new financial products related to crypto-assets has the potential to raise financial stability concerns and increase risks faced by banks.

The past few years have seen a growth in crypto-assets. While the crypto-asset market remains small relative to that of the global financial system, and banks currently have very limited direct exposures

Perspectives

ECB publishes update on TRIM

On 5 April 2019, the European Central Bank (ECB) published a note providing an interim update on the targeted review of internal models (TRIM). The purpose of the note is to provide an overview of the TRIM project and to share aggregated information on its outcomes. The note complements the first update on TRIM outcomes published on 11 June 2018.

On 5 April 2019, the European Central Bank (ECB) published a note providing an interim update on the targeted review of internal models (TRIM).

Perspectives

2019 Planning priorities for Internal Audit in Financial Services

Now in its 5th year, Planning priorities for Internal Audit in Financial Services study, highlights a selection of most interesting developments and challenges being addressed by audit functions in financial services industry.

Now in its 5th year, Planning priorities for Internal Audit in Financial Services study, highlights a selection of most interesting developments and challenges being addressed by audit functions in financial services industry.

Perspectives

ECB publishes 2018 Annual Report on supervisory activities

European Central Bank (ECB) published this March the annual report for 2018. The report presents ECB’s policies and activities in the economic and financial environment during last year.

European Central Bank (ECB) published this March the annual report for 2018. The report presents ECB’s policies and activities in the economic and financial environment during last year.

Perspectives

EBA notes good progress in convergence of supervisory practices across the EU

The European Banking Authority (EBA) published its annual Report on the convergence of supervisory practices in the EU. The EBA's mandates in supervisory convergence aim at fostering comparable supervisory approaches across the single market. This is necessary to ensure a level playing field, effective supervision of cross border groups and to promote supervisory best practices.

The European Banking Authority (EBA) published its annual Report on the convergence of supervisory practices in the EU. The EBA's mandates in supervisory convergence aim at fostering comparable supervisory approaches across the single market.

Perspectives

Impact of the final Basel III reforms on EU banks capital

On March 20th, the European Banking Authority (EBA) published a report assessing the impact that implementing the final Basel 3 reforms would have on EU banks, assuming its full implementation. The EBA previously published a preliminary report on the results of a capital monitoring exercise using data as of 31st December 2017, and the latest update provides a more extensive insight using data as of 30 June 2018.

On March 20th, the European Banking Authority (EBA) published a report assessing the impact that implementing the final Basel 3 reforms would have on EU banks, assuming its full implementation.

Perspectives

Final EBA Guidelines on the estimation of LGD under an economic downturn

The European Banking Authority (EBA) published on March 6th its final Guidelines specifying how institutions should quantify the estimation of loss given default (LGD) appropriate for conditions of an economic downturn. In particular, the Guidelines focus on requirements for the quantification of the calibration target used for downturn LGD estimation.

The European Banking Authority (EBA) published on March 6th its final Guidelines specifying how institutions should quantify the estimation of loss given default (LGD) appropriate for conditions of an economic downturn.

Perspectives

Validation reporting on internal models

European Central Bank (ECB) announced on the 5th of March 2019 the launch of the annual validation reporting on internal models used for calculating own funds requirements for credit risk.

European Central Bank (ECB) announced on the 5th of March 2019 the launch of the annual validation reporting on internal models used for calculating own funds requirements for credit risk.

Perspectives

SRB and EBA publications on valuation

Single Resolution Board (SRB) has published its Framework for Valuation alongside a set of questions & answers. In developing the framework, the SRB worked closely with the EBA, which recently published its Draft Handbook on Valuation for Purposes of Resolution.

Single Resolution Board (SRB) has published its Framework for Valuation alongside a set of questions & answers. In developing the framework, the SRB worked closely with the EBA, which recently published its Draft Handbook on Valuation for Purposes of Resolution.

Perspectives

EBA publishes revised Guidelines on outsourcing arrangements

On 25 February 2019, the European Banking Authority (EBA) published revised guidelines on outsourcing arrangements. The revised guidelines will enter into force on 30 September 2019, and firms will have to complete outsourcing arrangements in line with these guidelines by 31 December 2021.

On 25 February 2019, the European Banking Authority (EBA) published revised guidelines on outsourcing arrangements. The revised guidelines will enter into force on 30 September 2019, and firms will have to complete outsourcing arrangements in line with these guidelines by 31 December 2021.

Perspectives

Financial cooperatives: Regulation, Supervision and other Challenges

Financial cooperatives (FCs) are the most numerous financial institutions. On one hand, FCs are small and serve only their members, by providing affordable financial services. On the other hand, FCs gather resources and form federations with internal solidarity schemes or even consolidated groups.

Financial cooperatives (FCs) are the most numerous financial institutions.On one hand, FCs are small and serve only their members, by providing affordable financial services. On the other hand, FCs gather resources and form federations with internal solidarity schemes or even consolidated groups.

Perspectives

Cyber Security in banks continues to be a priority for regulators

European Central Bank (ECB) will conduct frequent on-site inspections with a focus on IT and cyber security. Having previously released the Threat Intelligence-based Ethical Red Teaming guideline, the ECB will surely follow banks’ reports for these assessments.

European Central Bank (ECB) will conduct frequent on-site inspections with a focus on IT and cyber security. Having previously released the Threat Intelligence-based Ethical Red Teaming guideline, the ECB will surely follow banks’ reports for these assessments.

Perspectives

EU bank capital negotiations: Political deal reached by policymakers in Brussels

A political deal has been reached in negotiations on the EU’s bank capital legislative package, the fifth Capital Requirements Directive and second Capital Requirements Regulation (CRD5/CRR2), plus changes to the Bank Recovery and Resolution Directive (BRRD2). On 4 December, EU Finance Ministers formally endorsed the deal reached by negotiators on the key political elements of the package.

A political deal has been reached in negotiations on the EU’s bank capital legislative package, the fifth Capital Requirements Directive and second Capital Requirements Regulation (CRD5/CRR2), plus changes to the Bank Recovery and Resolution Directive (BRRD2).

Perspectives

EBA welcomes National Bank of Moldova to the Memorandum of Cooperation

The European Banking Authority (EBA) welcomed the National Bank of Moldova as an additional signatory party to the Memorandum of Cooperation (MoC) with banking supervisory authorities in several South-Eastern European (SEE) countries.

The European Banking Authority (EBA) welcomed the National Bank of Moldova as an additional signatory party to the Memorandum of Cooperation (MoC) with banking supervisory authorities in several South-Eastern European (SEE) countries.

Perspectives

Are you prepared for Single Resolution Board Work Programme 2019?

Addressing the issue of too-big-to-fail banks has been the overriding aim of financial services policy since the crisis, reflected in the host of regulatory initiatives that lawmakers have proposed in light of this objective.

Addressing the issue of too-big-to-fail banks has been the overriding aim of financial services policy since the crisis, reflected in the host of regulatory initiatives that lawmakers have proposed in light of this objective.

Perspectives

AML Multilateral Agreement for Exchange of Information

In application of the provisions of the Fourth Directive against Money Laundering and Terrorist Financing, a Multilateral Agreement for the Exchange of Information between the European Central Bank (“ECB”) and the Competent National Authorities (“CA”) was signed on January 10, 2019.

In application of the provisions of the Fourth Directive against Money Laundering and Terrorist Financing, a Multilateral Agreement for the Exchange of Information between the European Central Bank (“ECB”) and the Competent National Authorities (“CA”) was signed on January 10, 2019.

Perspectives

A supervisory perspective on 2019 and beyond

On the 17th January 2019, at the Risk Management & Supervisory Conference in Dublin, Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, discussed the impact of Brexit and digitalization on banks, markets and supervisors.

On the 17th January 2019, at the Risk Management & Supervisory Conference in Dublin, Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, discussed the impact of Brexit and digitalization on banks, markets and supervisors.

Perspectives

EBA assesses post-implementation impact of IFRS 9

The European Banking Authority (EBA) published, at the end of last year, an initial report on IFRS 9 post-implementation impact on EU banks.

The report presents the follow-ups of the implementation of IFRS 9 standard (use of indicators based on regulatory reporting, understanding of the modelling aspects employed by banks, qualitative implementation of IFRS 9 standard)

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