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Financial Regulation: Weekly Update. 4 August 2017

By , ,

Highlights: The EP approved amendments regarding the fast track for IFRS9. The EBA published a set of reports regarding banks’ funding plans. The ESRB published its annual report, and identified four systemic risks in the EU financial system. Finally, EBA issued a consultation regarding fraud reporting requirements under PSD2.


EUROPE

 

  • EP approves amendments for IFRS 9 fast track within the CRD V review

Advocates a dynamic approach and a phase-in starting at 0.9 for 2018. Next steps: trilogues are expected to begin in Sep so that a final rule can be approved by year-end.

  • EBA publishes reports showing banks’ funding plans are optimistic

The two reports on 155 banks’ 3-year funding plans and asset encumbrance forecast an increase in lending, deposit taking and debt issuance. But NPLs remain a drag on growth.

  • ESRB publishes annual report and identifies four systemic risks in the EU financial system

i) A re-pricing of risk premiums in global financial markets, ii) weaknesses in balance sheets of banks, insurers and pension funds, ii) debt sustainability challenges, and iv) shocks from the non-bank financial sector to the financial system.

  • EBA consults on fraud reporting requirements under PSD2

Defines reporting requirements on fraudulent payment transactions ensuring that data provided to the EBA and the ECB are comparable and reliable. Deadline 3 Nov.

  • EBA updates list of Public Sector Entities (PSEs) for calculating capital requirements

These PSEs can be treated as regional or central governments and local authorities when calculating capital requirements under the standardised approach.

  • EBA issues opinion on Finnish macroprudential measures

They include a credit institution-specific minimum level of 15% for the average risk weight on residential mortgage loans applicable to credit institutions using the IRB approach.

  • EIOPA publishes first quarter 2017 risk dashboard

All risks remains constant, with two exceptions: i) liquidity and funding risks decrease, and ii) profitability and solvency risks increase

 

UNITED STATES

 

  • FRB consults on corporate governance and rating system for large financial institutions

i) Proposal to refocus its expectations for largest firms’ boards of directors on their core responsibilities, ii) proposal to better align the Board’s rating system for large firms. Deadline: 3 Oct.

  • FRB, FDIC and OCC publish review of Shared National Credit

Risks remain high due to highly leveraged distressed firms in the oil and gas sector, but underwriting and risk management practices continue to improve in most large banks.

 

 

Recent publications of interest (in English and Spanish):

 

 

 

Previous editions of our Weekly Regulatory Update in Spanish and English

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