Post de European Banking Authority (EBA)

📢 Save the date for the 𝟮𝟬𝟮𝟰 𝗝𝗼𝗶𝗻𝘁 #𝗘𝗦𝗔𝘀 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗗𝗮𝘆 #CPD24 organised by #EBA, European Insurance and Occupational Pensions Authority (EIOPA) & European Securities and Markets Authority (ESMA) 📅 3 October 2024 from 9:30 to 16:00 CET 📍 premises of the Magyar Nemzeti Bank - Central Bank of Hungary, Budapest 📋 On the Agenda: 🤖 artificial intelligence in the financial services 🔐 accessibility to consumer-centric products 🌱 sustainable finance Stay tuned for the programme, list of speakers, registration details and more 👉 https://europa.eu/!xdfJnw

📢 The three European Supervisory Authorities (#EBA, European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority (ESMA) – the ESAs) have published their final joint draft Regulatory Technical Standards (#RTS) on subcontracting under the Digital Operational Resilience Act (#DORA). ℹ The final draft RTS: ♦  focus on information and communication (ICT) services provided by ICT subcontractors that support critical or important functions, or material parts of them, provided by ICT subcontractors; ♦Specify the requirements throughout the lifecycle of contractual arrangements between financial entities and ICT third-party service providers; ♦Require financial entities to assess the risks associated with subcontracting during the precontractual phase, including the due diligence process. 🎯 These RTS aim at enhancing the digital operational resilience of the EU financial sector by strengthening the financial entities’ ICT risk management over the use of subcontracting. Take a deep dive here ➡ https://europa.eu/!DQfJrx

📢 Don't miss out, register now! 📨 Registration is open for the #EBA workshop 'Paving the way for the EBA data hub' delivered in conjunction with the industry and members of the Subgroup on Analytical Tools. ℹ The workshop will focus on the EBA's EUCLID ecosystem and data hub infrastructure. 📅 25 September 2024, 09:00-17:30 📍 Online ❗ Deadline to register: 13 September 2024, 16:00 ➡ Follow this link for more information, including the registration link and more details on the content of the workshop: https://europa.eu/!NNbHHN

📢 Publication Alert! 📑The #EBA has published Final Guidelines that extend the existing Joint Committee Guidelines on complaints handling to credit servicers. ℹ The Guidelines cover the complaints management policy, the complaints management function, the registration of complaints, the reporting to the competent authorities or ombudsman, the internal follow-up, the provision of information to the complainant, and the procedures for responding to complaints ➡ What's new? Credit services are now required to maintain the same effective and transparent procedures for the handling of complaints from borrowers that apply to other firms in the banking, insurances and securities sector. 🔗 Catch up on everything you need to know here: https://europa.eu/!Tc8FxX

☕ Grab yourself a coffee, put your feet up and read the latest edition of the AML/CFT Newsletter, which is out now! 📑 In this issue, we talk about the report on virtual IBANs, new MiCAR regulations, the entry into force of AMLA and more. Follow this link for all the details! ➡  https://europa.eu/!VHgjMx 📩 Don't want to miss out? Subscribe here to be the first to know when a new edition is published: https://europa.eu/!Yr6W7y

📚 The EBA has published a Peer Review on its Guidelines on the application of the definition of default, which found that effectiveness of 🔎 supervision is overall 👍🏽 good. ℹ Main findings: ➡ Supervision is particularly good in regards to the monitoring of internal ratings-based approach (IRBA) credit institutions; ➡ Supervision of the definition of default of credit institutions using the standardised approach (SA) is also good but more varied; ➡ A small number of follow-up measures/recommendations for certain competent authorities as well as best practices were identified that would be of benefit for other competent authorities to adopt. Read the full review here 👇🏽 https://europa.eu/!G3VtV6

📢 The #EBA is consulting! The EBA has launched a #publicconsultation on the draft 📑 #handbook on independent valuers for resolution purposes. 🎯 The draft Handbook aims to enhance convergence by providing:    🔸 Best practices  🔸High quality methodologies and processes for the selection and appointment of independent valuers for resolution purposes  🔸Examples on the application of these methodologies under some scenarios   📅 Deadline for submission of comments: 18 September 2024   ➡ Find everything you need to know here: https://europa.eu/!G9nDC6

📣 We've got an interesting report for you to kickstart the week! The #EBA has published a Report on structured deposits in the European Union (EU), under the Markets for Financial Instruments Regulation (#MiFIR). ❔ The findings? 💠 In more than half of the 27 national markets in the EU, structured deposits do not exist; 💠 The EU market remains very small at an aggregate level; 💠Only €16.7 billion of structured deposits were sold between 1 January and 30 September 2023, 95% of which was concentrated in only 4 EU Member States; 💠Across the EU, the total value of structured deposits sold in a given Member State ranges from €2 million to €10 billion, showing a disparity in market penetration and investor interest. Check out the full report here 👇🏽 https://europa.eu/!QWrYkF

📚 It's the weekend, and at the #EBA, we have some exciting reading to tide you over! ✍🏽 Our Chairperson, José Manuel Campa sat down with Pierre Gramegna from the ESM - European Stability Mechanism to discuss in a hot off the press Op-ed how the EBA and ESM cooperate to strengthen crisis prevention and navigate an incomplete banking union. In particular, they discuss how the #EBA and #ESM can harness their capabilities to ensure crisis prevention and preparedness, as well the role the two Authorities play in building trust in the banking system and managing crises when necessary. Curious to find out more? ➡ Follow this link to read the full piece! https://europa.eu/!WntBcK

🥁 Listen up, because the #EBA is consulting! The EBA has just published a #consultationpaper amending the Implementing Regulation on the joint decision process for internal model authorisation under the Capital Requirements Regulation (CRR). The essentials 👇🏽  The revised Implementing Technical Standards (ITS): 🔶 Incorporate changes to the EU legal framework, including the reduced scope of application for internal models under CRR III and the updated framework on the general functioning of supervisory colleges. 🔶This draft amending ITS are part of the first phase of the EBA roadmap for implementing the EU Banking Package. 🛎 Dates to bear in mind: 🗣 Public hearing: 18 September from 14:00-15:00, register by 13 September ⏰ Deadline for submission of comments: 16 October 2024.    everything else you need to know here: https://europa.eu/!HpPWdP