Deloitte Banking Alert

Article

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.

Article

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.

Article

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.

Article

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

Article

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.

Article

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.

Article

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

Article

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).

Article

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.

Article

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.

Article

What does the EU's new digital strategy mean for financial services?

26 March 2020

“Tech sovereignty” and the ability for the EU to “make its own choices, based on its own values, respecting its own rules” – is how Ursula von der Leyen, President of the European Commission, summed up the vision behind the new EU digital strategy.

Perspectives

BSG and EBF Opinion and Recommendations on COVID-19 Situation

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.

Perspectives

Update on Coronavirus emergency economic-aid packages

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.

Perspectives

Supervisors around the world stand together against COVID-19

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.

Perspectives

EBA speaks out and highlights the measures to address macroprudential risk

The European Banking Authority (EBA) published February 10th an opinion as a result of the intention of the Central Bank of the Netherlands (De Nederlandsche Bank – DNB) to modify the capital requirements in order to address an increase in macroprudential risk.

Perspectives

ESAs strengthen cooperation on AML/ CFT matters between competent authorities

In order to strengthen the EU’s AML/ CFT efforts, joint guidelines between the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have recently been published.

Perspectives

EBA consults on revised guidelines on money laundering and terrorist financing risk factors

The European Banking Authority (EBA) has launched a public consultation on revised money laundering and terrorist financing risk factors, as part of a broader communication on AML/CFT issues.

Perspectives

EBA intends to put banks’ green projects under scrutiny. Action plan on sustainable finance was published

The European Banking Authority (EBA) published its Action plan on sustainable finance outlining its approach and timeline for delivering mandates related to environmental, social and governance (ESG) factors.

Perspectives

Cyber security - The number one priority on European Regulators agenda

The European Commission issued a Consultation Paper on a potential initiative regarding the digital operational resilience in the financial services area.

Perspectives

Bank of England makes first steps towards stress-testing climate change risks

The Bank of England is the first Central Bank to perform a comprehensive stress test on how resilient the financial system is in the face of risks posed by climate change. In this sense, it has issued a discussion paper

Perspectives

Progress towards harmonization of MREL and TLAC disclosure and reporting requirements. EBA launches consultation paper.

The European Banking Authority (EBA) launched a public consultation on the draft Implementing Technical Standard (ITS) on disclosure and reporting of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss absorbency requirement (TLAC).

Perspectives

Passport notification: EBA launches consultation on technical standards

The European Banking Authority (EBA) published on 13 November a Consultation Paper on the draft amended Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) on passport notification.

Perspectives

Implementing Basel III/IV in the EU

The European Commission is now preparing the EU’s next bank capital legislative package, the sixth Capital Requirements Directive and third Capital Requirements Regulation (CRD6/CRR3).

Perspectives

Machine learning in financial services

Financial services industry is increasingly powered by big data, new business models, advanced analytics and technology. Innovation is dramatically changing the markets and the nature of the financial system supporting it. 

Perspectives

EBA consults on new regulatory reporting requirements for institutions

A new banking regulatory package has come into force on 28 June 2019. The package consists of Directive (EU) 2019/878 and Regulation (EU) 2019/876

Perspectives

EU Watchdog reports on capital and liquidity compliance of EU banks

The European Banking Authority (EBA) published on October 2nd two reports: one of them, monitors the impact of implementing the Basel III final reforms, whereas the other monitors the implementation of liquidity measures in the EU.

The European Banking Authority (EBA) published on October 2nd two reports: one of them, monitors the impact of implementing the Basel III final reforms, whereas the other monitors the implementation of liquidity measures in the EU.

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

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

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

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 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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.