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img_publication Observatorio

Financial Regulation: Weekly Update. 3 November 2017

Por , ,

Highlights: FSB issued report on machine learning in financial services. EBA issued consultations on guidelines to strengthen Pillar 2, and on home-host cooperation under PSD2. EBA issued final guidance on supervision of significant branches, and final recommendation on coverage of entities in banking group recovery plans. Finally, EBA extended the stress test timeline.


GLOBAL

 

  • FSB issues report on Artificial Intelligence (AI) and machine learning in financial services

It is important to start thinking about the possible financial stability implications of the growing use of AI by financial institutions. It should continue to be monitored.

 

EUROPE

 

  • EBA issues consultations to strengthen Pillar 2 framework

Three guidelines to enhance: i) supervisory convergence in SREP, ii) management of interest rate risk from non-trading book activities, and iii) institutions’ stress testing. Deadlines: 31 Jan 2018.

  • EBA issues consultation regarding home-host cooperation under PSD2

Draft RTS setting the framework for cooperation and exchange of information between authorities. Clarifies information and templates to be used by firms. Deadline: 5 Jan 2018.

  • EBA issues final guidance on supervision of significant branches

It aims to create a framework to improve the identification of the ‘significant-plus’ branches and facilitate coordination of supervision.

  • EBA issues final recommendation on coverage of entities in banking group recovery plans

Aims to define criteria for identification of entities that need to be covered in group recovery plans: i) relevant for the group, ii) relevant for the economy, or iii) not relevant for either.

  • EBA issues final timeline for the 2018 EU-wide stress test

The board decides to extend the timeline of the stress test, to address the challenges of the implementation of IFRS 9. Final methodology to be published on Nov.

  • EBA provides overview of implementation and transposition of CRD IV package

Updates information disclosed by national competent authorities on the implementation of CRD IV and the use of options and discretions. Also includes information related to the SSM.

  • EC seeks feedback regarding crowd and P2P finance legislative proposal

The proposal seeks to address two problems: i) market fragmentation and lack of scale, and ii) perceived lack of reliability of crowdfunding and P2P platforms. Deadline: 27 Nov.

  • ESMA updates Q&A on Alternative Performance Measures (APMs)

Adds six new questions to the Q&A on the implementation of the guidelines of APMs.

  • ESMA publishes extract from enforcements database

It includes a selection of 12 decisions taken by national authorities (from Jun 2015 to Feb 2017), from a confidential database of enforcement decisions on financial statements.

 

UNITED KINGDOM

 

  • PRA issues policy statement regarding insurance SPVs

It sets the final approach and expectations regarding the authorisation and supervision of insurance special purpose vehicles.

 

Recent publications of interest (in English and Spanish):

 

 

 

 

Previous editions of our Weekly Regulatory Update in Spanish and English

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