After updating or deactivating a number of validation rules in the Implementing Technical Standards (ITS) on supervisory reporting, the European Banking Authority (EBA) has issued a revised list of ITS for filing across the EU. EBA cautions that data submitted in line with the ITS should not be validated against this list of incorrect, deactivated […]
How should banks model potential extreme shocks to the financial system? Banks need to calculate all risk factors, however, while some future risks can be modeled with relevant price and transaction data, others can’t. In the case of non-modellable risks, institutions must calculate prudent measures that take into account a potential scenario of extreme future […]
The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) are holding a public hearing to explain and discuss their current consultation on sustainability-related disclosures. The consultation explores requiring certain sustainability metrics for financial service providers and products to be disclosed. The aim is to reduce greenwashing by standardising the metrics that are used to classify financial […]
The European Banking Authority (EBA) outlined its implementation plan for the new regulatory framework for investment firms, alongside a consultation on its first set of new regulatory requirements. The roadmap includes prudential requirements, reporting requirements and disclosures, and remuneration requirements. The EBA plans to implement a regulatory framework that is calibrated to the size and […]
Supervisory practices across the EU are increasingly in alignment, according to a recent European Banking Authority (EBA) report.
This week the European Commission outlined its approach to strengthening the EU’s anti-money laundering (AML) and Countering the Financing of Terrorism (CFT) framework. The plan sets out multiple measures the Commission will take over the next 12 months to better enforce, supervise and coordinate the EU’s rules in this area. The measures include ensuring that […]
This week the European Banking Authority (EBA) published its final draft Implementing Technical Standards (ITS) on reporting requirements for market risk. They are expected to take effect in September 2021 as part of v.3.1 of the EBA reporting framework. The requirements include a thresholds template, providing insights into the size of institutions’ trading books and the […]
Ahead of the UN summit in Glasgow this November, Christine Lagarde, President of the European Central Bank (ECB), recently urged companies and central banks to speed up climate risk assessment and improve environmental disclosures. Speaking at the launch of the finance agenda for the UN climate summit COP26, Lagarde spelled out the serious financial risks […]
In a recent report the European Banking Authority (EBA) has noted some improved consistency in Pillar 3 prudential disclosures, although further improvements are necessary. Pillar 3 disclosures are designed to foster increased transparency and market discipline by requiring regulated firms to make a range of prudential information about banks (and insurance companies) public. However, the […]
Co-operation between regulators on minimising cyber risk has ramped up recently as the EU’s Cyber Resilience Board has launched a pan-European initiative to share cyber information. Last week, at their fourth meeting, the Board launched the Cyber Information and Intelligence Sharing Initiative (CIISI-EU). This is the first time pan-European agencies have come together to co-operate […]
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