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#158 EBI Regulatory Report (17 December 2023) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on the latest economic policy and financial regulation measures in Europe, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 The main developments during the week of 11 - 15 December 2023 are here: 📆 15 December: ECB/Eurosystem: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates). Financial Stability Board (FSB): outline of work to further increase the resolvability of banks, central counterparties and insurers. EBA: Publication of Guidance to assess the knowledge and experience of the management or administrative organ of a credit servicer. EBA: Proposal for a voluntary EU green loan label to help spur markets CMDI reform: the SRB view. IOSCO: Recommendations on Accounting for Goodwill. IOSCO: Statement on online harm. ESMA: New Q&As. ESMA: Consultation on potential changes to the CSDR penalty mechanism. ESMA: Consultation on draft guidelines for supervision of corporate sustainability information. 📆 14 December: ECB/Eurosystem: Monetary policy decisions. Eurosystem staff macroeconomic projections for the euro area, December 2023 Decision (EU) 2023/2796 of the ECB of 4 December 2023 amending Decision (EU) 2022/1981 on the use of services of the European System of Central Banks by competent authorities (ECB/2022/33) (ECB/2023/30) (OJ L, 2023/2796, 14.12.2023). Basel Committee on Banking Supervision: Cryptoasset standard amendments IADI Report: The 2023 banking turmoil and deposit insurance systems: Potential implications and emerging policy issues. EBA: Consultation on draft technical standards on market and counterparty credit risk as part of its roadmap for the implementation of the Banking Package in the EU. EBA: Publication of Roadmap on the implementation of the EU Banking Package. EBA: Consultation on the amendments to the Pillar 3 disclosure and supervisory reporting frameworks in the context of the implementation of the Basel III reforms in the EU. EBA: Publication of discussion paper on the centralisation of EEA banks Pillar 3 disclosures in the EBA Pillar 3 data hub. SRB: Public consultation on the future review of MREL. IOSCO: Consultation Report on Market Outages. ESMA: Proposal for changes and updates timeline for its Guidelines on funds’ names. ESMA: Recommendations on digitalisation of retail investment services. 📆 13 December: ESMA: Launch of and participation in Common Supervisory Action on ESG disclosures for Benchmarks Administrators. Read the entire updated EBI Regulatory Report #158 here: https://lnkd.in/eVW9a6ha #regulatoryreports #ecb #esma #eba #economics #regulation #finance #eu #euro

#160 EBI Regulatory Report (14 January 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 The main developments during the period of 27 December 2023 - 12 January 2024 are here: 📆 12 January: ECB/SSM: Supervisory Banking Statistics for significant institutions – Third quarter 2023. EBA: Banks remain robust, but higher interest rates could impact their asset quality. 📆 11 January: EBA: Revision of reporting requirements for market risk. EBA: Response to law firm on the prudential treatment of a BNP Paribas legacy instrument. ESMA: Latest edition of newsletter. ESMA and NCAs to coordinate supervisory activities on MiFID II pre-trade controls. 📆 10 January: ECB/SSM: Guide on Financial Conglomerate Reporting of Significant Risk Concentrations and Intragroup Transactions. ESMA: Exploring risk exposures to real estate in EU securities markets and investment funds. 📆 09 January: EBA: Update of technical standards on supervisory colleges. EBA: Finding that the Italian waiver for covered bonds is justified. 📆 08 January: ESAs: Consultation on draft implementing technical standards (ITSs) specifying certain tasks of collection bodies and certain functionalities of the European Single Access Point. 📆 05 January: Decision (EU) 2024/190 of the ECB of 15 December 2023 amending Decision (EU) 2016/948 on the implementation of the corporate sector purchase programme (ECB/2016/16) (ECB/2023/38) (OJ L, 2024/190, 05.01.2024). 📆 04 January: ECB/SSM: Supervisory Manual (revised). 📆 03 January: ECB/SSM: ECB to stress test banks’ ability to recover from cyberattacks. 📆 27 December: Regulation (EU) 2023/2845 of the European Parliament and of the Council of 13 December 2023 amending Regulation (EU) No 909/2014 as regards settlement discipline, cross-border provision of services, supervisory cooperation, provision of banking-type ancillary services and requirements for third-country central securities depositories and amending Regulation (EU) No 236/2012 (OJ L, 2023/2845, 27.12.2023). Read the entire updated EBI Regulatory Report #160 here: https://lnkd.in/dAqHGAX4 #regulatoryreport #ecb #esma #eba #economics #regulation #finance #eu #euro

#179 EBI Regulatory Report (8 June 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 Key developments during the week 3 - 7 June 2024: 📆 7 June ECB/Eurosystem: TARGET Annual Report 2023 ECB/SSM: Annual Report on Sanctioning Activities in the SSM in 2023 ESAs: Joint Annual Report for 2023 📆 6 June ECB/Eurosystem: Monetary policy decisions Eurosystem staff macroeconomic projections for the euro area, June 2024 EBA: consultation on the new framework for the operational risk loss as part of the implementation of the EU Banking Package EBA: publication of governance regulatory products under the MiCAR 📆 5 June BIS Innovation Hub: Project mBridge reaches minimum viable product stage and invites further international participation EBA: publication of plan for the implementation of the data point model 2.0 ESAs and ENISA: Memorandum of Understanding to strengthen cooperation and information exchange IOSCO: Good Practices to improve trading venues’ resilience in case of Market Outages 📆 4 June Financial Stability Board (FSB): Remarks on Artificial Intelligence in Finance BIS Innovation Hub: Project Rialto: improving instant cross-border payments using wholesale CBDC settlement ESAs: call for enhanced supervision and improved market practice on sustainability-related claims 📆 3 June BIS: Latest update June 2024 – Innovation, Basel II and cross-border payments ECB/SSM: consultation on outsourcing cloud services EBA and ESMA: invitation of comments on the review of the investment firms prudential framework IOSCO: Final Report on Leveraged Loans and CLOs Good Practices for Consideration 📑 Read the entire updated EBI Regulatory Report #179 here: https://lnkd.in/eqsHjJ5t #regulatoryreport #ecb #esrb #eba #economics #regulation #finance #eu #euro #ssm #esma

#166 EBI Regulatory Report (25 February 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 The main developments during the period of 19 – 23 February 2024 are here: 📆 23 February: ECB/Eurosystem: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates). ECB/Eurosystem: ECB Consumer Expectations Survey results – January 2024. 📆 22 February: ECB/Eurosystem: Monetary Policy account: Meeting of 24-25 January 2024. Council of the EU (Press release): Frankfurt to host the EU’s new anti-money laundering authority (AMLA). 📆 21 February: ECB/SSM: ESG data quality: Pillar 3 disclosures in focus. ECB/SSM: New policy for more bank board expertise on ICT and security risks. ECB/SSM: Outsourcing register – annual horizontal analysis. 📆 20 February: EBA: Consultation on the new framework for the business indicator for operational risk as part of the implementation of the EU Banking Package. EBA: Consultation on amendments to the operational risk Pillar 3 and supervisory reporting requirements to implement the Basel III reforms in the EU. MiFIR and MiFID II: Council adopts new rules to strengthen market data transparency. 📆 19 February: ECB/SSM: Update of Guide to internal models. 📑 Read the entire updated EBI Regulatory Report #166 here: https://lnkd.in/d7ZxsDS8 #regulatoryreport #ecb #esma #eba #economics #regulation #finance #eu #euro

#172 EBI Regulatory Report (13 April 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 Main developments during the period of 8 – 12 April 2024: 📆 12 April ECB/Eurosystem: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates) ECB/Eurosystem: The ECB Survey of Professional Forecasters – Second quarter of 2024 EBA: publication of annual assessment of banks’ internal approaches for the calculation of capital requirements IOSCO: Update to 2023-24 Work programme; March 2024 – March 2025 Workplan 📆 11 April ECB/Eurosystem: Monetary policy decisions Eurogroup meeting – Digital euro: state of play Financial Stability Board (FSB): FSB Europe Group discusses risks from commercial real estate and implementation of the crypto-asset regulatory framework EBA: publication of final Guidelines on the application of the group capital test for investment firm groups ESAs: voluntary dry run exercise to prepare industry for the next stage of DORA implementation ESMA: New report on quality and use of regulatory data across EU ESMA: EU regulators’ supervisory practices regarding EMIR data quality improving 📆 10 April ECB/SSM: Supervisory Banking Statistics for significant institutions – Fourth quarter 2023 ESAs: launch of first recruitments to set up DORA joint oversight team 📆 9 April EBA: publication of final Guidelines on resubmission of historical data under the EBA reporting framework ESMA: publication of first overview of EU securities financing transactions markets 📑 Read the entire updated EBI Regulatory Report #172 here: https://lnkd.in/eheGKJUe #regulatoryreport #ecb #esma #eba #economics #regulation #finance #eu #euro

#164 EBI Regulatory Report (11 February 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 The main developments during the period of 05 – 09 February 2024 are here: 📆 09 February: ESM: Introduction of euro commercial paper programme. 📆 08 February: ECB Decision (EU) 2024/461 of 29 January 2024 on the reporting by national competent authorities to the ECB of information on remuneration, gender pay gap, approved higher ratios and high earners for benchmarking (ECB/2024/2) (OJ L, 2024/461, 08.02.2024). ECB: Publication of consolidated banking data for end-September 2023. 📆 07 February: Council and Parliament: Agreement to delay sustainability reporting for certain sectors and third-country companies by two years. Single Resolution Board (SRB): Publication of the list of consultations and requests to the industry for the first time. Council and Parliament – Capital Markets Union: Agreement on improvements to EU clearing services. Commission Delegated Regulation (EU) 2024/450 of 26 October 2023 supplementing Regulation (EU) 2021/23 of the co-legislators concerning RTSs specifying the minimum elements to be included in a business reorganisation plan and the criteria to be fulfilled for its approval by the resolution authority (OJ L, 2024/450, 07.02.2024). 📆 06 February: FSB MENA Group: Discussion on implementing the global framework for crypto-asset activities and lessons from the 2023 banking turmoil. ESA’s Joint Board of Appeal: Confirmation of ESMA’s decision to withdraw the recognition of Dubai Commodities Clearing Corporation. EBA: Technical package for its 3.4 reporting framework. IOSCO: Monitoring Group Pleased to Report Strong Progress Implementing Recommendations to Strengthen the International Audit, Assurance, Ethics, and Independence Standard-Setting System. ESMA: Requirements when posting investment recommendations on social media. 📆 05 February: ESM: Introduction of euro commercial paper programme. OECD: Growth continues at a modest pace through 2025, with inflation declining to central bank targets. Council and Parliament: Agreement on environmental, social and governance (ESG) ratings. 📑 Read the entire updated EBI Regulatory Report #164 here: https://lnkd.in/gRJ-C7F9 #regulatoryreport #ecb #esma #eba #economics #regulation #finance #eu #euro

#165 EBI Regulatory Report (21 February 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 The main developments during the period of 10 – 16 February 2024 are here: 📆 16 February: Commission Delegated Regulation (EU) 2024/595 of 9 November 2023 supplementing [the EBA Regulation] concerning regulatory technical standards specifying the materiality of weaknesses, the type of information collected, the practical implementation of the information collection and the analysis and dissemination of the information contained in the Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) central database referred to in Article 9a(2) of that Regulation (OJ L, 2024/595, 16.02.2024). 📆 15 February: Commission Delegated Regulation (EU) 2024/584 of 7 November 2023 amending the regulatory technical standards laid down in Delegated Regulation (EU) 2019/1851 as regards the homogeneity of the underlying exposures in simple, transparent and standardised securitisations (OJ L, 2024/584, 15.02.2024). Single Resolution Fund: No expected contribution in 2024 as the target level is reached. 📆 14 February: Council Regulation (EU) 2024/576 of 12 February 2024 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (OJ L, 2024/576, 14.02.2024). Council Decision (CFSP) 2024/577 of 12 February 2024 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (OJ L, 2024/577, 14.02.2024). Committee on Payments and Market Infrastructures (CPMI) and IOSCO: Discussion Paper and call for comments on streamlining variation margin in centrally cleared markets. 📆 13 February: SRB launches its “SRM Vision 2028” Strategy at SRB Conference. ESMA: Withdrawal of Euronext authorisation as a data reporting service provider under MIFIR upon the entity’s request. ESMA: Latest edition of its newsletter. ESMA: Clarification of certain best execution reporting requirements under MiFID II. 📆 12 February: Immobilised Russian assets: Council decides to set aside extraordinary revenues. OECD: Renewed efforts are needed to open markets as barriers to services trade remained high in 2023. EBA: Publication of follow-up on the Peer Review on the Joint ESAs Guidelines on the prudential assessment of the acquisition of qualifying holdings. SRB: MREL dashboard Q3.2023. 📑 Read the entire updated EBI Regulatory Report #165 here: https://lnkd.in/dJCEzxQ8 #regulatoryreport #ecb #esma #eba #economics #regulation #finance #eu #euro

#162 EBI Regulatory Report (27 January 2024) on Economic Policy and Financial Regulation Measures: International, EU and Euro Area Levels The EBI Regulatory Report focuses on Europe's latest economic policy and financial regulation measures, considering the most significant global initiatives and financial standards by key international organisations and financial fora. 📌 The main developments during the period of 22 January - 26 January 2024 are here: 📆 26 January: ECB/Eurosystem: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates). IOSCO: Post Trade Risk Reduction Services. 📆 25 January: ECB/Eurosystem: Monetary policy decisions. 📆 24 January: Financial Stability Board (FSB): 2024 Work Programme. EBA: Publication of its heatmap following scrutiny of the interest rate risk in the banking book. 📆 22 January: Commission Delegated Regulation (EU) 2024/358 of 29 September 2023 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council concerning regulatory technical standards specifying requirements on credit scoring of crowdfunding projects, pricing of crowdfunding offers, and risk management policies and procedures (OJ L, 2024/358, 22.01.2024). Commission Delegated Regulation (EU) 2024/363 of 11 October 2023 amending the regulatory technical standards laid down in Delegated Regulation (EU) 2015/2205 as regards the transition to the TONA and SOFR benchmarks referenced in certain OTC derivative contracts (OJ L, 2024/363, 22.01.2024) 📑 Read the entire updated EBI Regulatory Report #162 here: https://lnkd.in/dPSydN-q #regulatoryreport #ecb #esma #eba #economics #regulation #finance #eu #euro