Regional Standard-Setting Bodies

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Good Supervisory Practices for Reducing Mechanistic Reliance on Credit Ratings

EBA, EIOPA and ESMA report on good supervisory practices for reducing sole and mechanistic reliance on credit ratings

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority final report to assist sectoral supervisory authorities to: i) monitor adequacy of their supervised entities' credit risk assessment processes; ii) assess the use of contractual references to credit ratings; and iii) encourage them to mitigate the impact of any such references.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Supervisory Practice

Topics: Credit risk, Asset classification and provisioning

Sectors: Banking, Insurance, Pensions, Securities

Guidelines on Pillar 3 Disclosure Requirements

EBA guidelines to enable banks to comply with CRR provisions while implementing revised Basel Pillar 3 requirements

European Banking Authority final guidelines on regulatory disclosure requirements following update by the Basel Committee on Banking Supervision's Pillar III disclosure requirements. Guidelines enable institutions to comply with the EU Capital Requirements Regulation (CRR) provisions while implementing revised Basel Pillar 3 requirements. Applies to systemically important institutions.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Parent: Capital Requirements Regulation - CRR

Topics: Systemically important financial institutions (SIFIs), Transparency and disclosure

Sectors: Banking

Report on the Implementation and Design of the MREL Framework

EBA recommendations for strengthening loss-absorbing capacity of banks in Europe

European Banking Authority final report on implementation and design of the minimum requirement for own fund and eligible liabilities (MREL). Quantifies current MREL stack and estimates potential financing needs of European Union (EU) banks under various scenarios. Assesses possible macroeconomic costs and benefits of introducing MREL in the EU. Recommends changes to reinforce MREL framework and integrate international standards on total loss-absorbing capacity (TLAC) in the EU's MREL.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Consultative, discussion and issues paper

Parent: Bank Recovery and Resolution Directive (BRRD)

Peer: Criteria for Determining the Minimum Requirement for Own Funds and Eligible Liabilities (MREL)

Topics: Capital adequacy, Recovery and resolution

Sectors: Banking, Securities

Guidelines for Effective Dialogue Between Supervisory Authorities and Auditors

EIOPA guidelines for interactions between supervisors and auditors of insurance firms

European Insurance and Occupational Pensions Authority guidelines set out supervisory approach toward regular dialogue between supervisors and auditors. Present relevant principles such as nature of information to be exchanged, frequency and timing as well as representatives involved in such dialogues between supervisors and auditors.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Guideline

Topics: Accounting, actuarial and auditing , Supervisory framework

Sectors: Insurance

Benchmarking Diversity Practices in the EU

EC report on ensuring that the composition of management bodies is sufficiently diverse

European Commission report on results achieved in complying with requirements under the European Union (EU) Capital Requirements Directive (CRD) that management bodies should be diverse in terms of age, gender, geographical provenance and educational and professional background. Report identifies considerable room for improvement, both with regard to having diversity policies in place and achieving greater diversity of management bodies of banks and investment firms. Most sampled institutions are not yet compliant with the CRD requirements. Most institutions had set gender diversity targets but had not yet met them and/or had not set a timetable for doing so. Report suggests that both institutions and supervisors need to make further efforts to ensure that required diversity policies are in place.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Consultative, discussion and issues paper

Parent: Capital Requirements Directive - CRD IV, Benchmarking of Diversity Practices

Topics: Gender equality, Transparency and disclosure, Corporate governance

Sectors: Banking, Securities

Harmonisation of Recovery and Resolution Framework for Insurers

EIOPA consultation on potential harmonization in the EU

European Insurance and Occupational Pensions Authority consultation covering: i) overview of existing national recovery and resolution frameworks in the EU; ii) rationale for harmonization; and iii) possible building blocks of recovery and resolution.

Publisher: Regional Standard-Setting Bodies Release date: Dec 2016

Type: Consultative, discussion and issues paper

Topics: Cross-border cooperation, Recovery and resolution

Sectors: Insurance

Deadline for comments: Mar 2017

Macroprudential Policy Issues Arising from Low Interest Rates

ESMA report discusses sources, implications and potential risks for the EU financial system deriving from the current low interest rate environment

European Securities and Markets Authority report analyzes two possible scenarios for future interest rate trends over the next ten years: a protracted low interest rate environment accompanied by low growth ("low for long") and an economic recovery scenario under which interest rates rise gradually ("back to normal"). Proposes a holistic macroprudential policy approach aimed at enhancing financial stability and mitigating systemic risks in the low interest rate environment.

Publisher: Regional Standard-Setting Bodies Release date: Nov 2016

Type: Consultative, discussion and issues paper

Topics: Macroprudential, Interest rate risk, Systemic risk

Sectors: Securities

Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines

EBA, EIOPA and ESMA guidelines on risk factors that firms should consider when implementing a risk-based approach to AML/CFT compliance

European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority guidelines on implementing a risk-based approach to adherence to the EU directive on the Financial Action Task Force (FATF) international standard. Provides guidance on risk factors firms should consider when assessing money laundering and terrorist financing risk associated with a business relationship or occasional transaction, and how firms can adjust the extent of their customer due diligence measures in a manner commensurate to money laundering and terrorist financing risks. Provides guidance to supervisory authorities in assessing the adequacy of firms’ application of simplified and enhanced customer due diligence measures.

Publisher: Regional Standard-Setting Bodies Release date: Nov 2016

Type: Guideline

Peer: Guidelines on the Money Laundering and Terrorist Financing Risk

Topics: Money laundering and terrorist financing

Sectors: Banking, Insurance, Pensions, Securities

EBA Impact Assessment of Adoption of IFRS 9

EBA initial assessment on qualitative and quantitative impact of adoption of IFRS 9

European Banking Authority report of first impact assessment of forthcoming adoption of International Financial Reporting Standard 9 (Financial Instruments) (IFRS 9), including estimated impact on regulatory own funds and interaction with other prudential requirements.

Publisher: Regional Standard-Setting Bodies Release date: Nov 2016

Type: Consultative, discussion and issues paper

Peer: Credit Risk Management Practices and Accounting for Expected Credit Losses , Issues for Consideration in Implementing IFRS 9

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Banking

Issues for Consideration in Implementing IFRS 9

ESMA statement on the implementation of IFRS 9

European Securities and Markets Authority statement highlights the need for consistent, high-quality implementation of International Financial Reporting Standard 9 (Financial Instruments) (IFRS 9) and for transparency on its impact to users of financial statements.

Publisher: Regional Standard-Setting Bodies Release date: Nov 2016

Type: Consultative, discussion and issues paper

Peer: EBA Impact Assessment of Adoption of IFRS 9

Topics: Accounting, actuarial and auditing , Transparency and disclosure

Sectors: Securities

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Resources

382 records

Good Supervisory Practices for Reducing Mechanistic Reliance on Credit Ratings

Guidelines on Pillar 3 Disclosure Requirements

Report on the Implementation and Design of the MREL Framework

Guidelines for Effective Dialogue Between Supervisory Authorities and Auditors

Benchmarking Diversity Practices in the EU

Harmonisation of Recovery and Resolution Framework for Insurers

Macroprudential Policy Issues Arising from Low Interest Rates

Anti-Money Laundering and Countering the Financing of Terrorism Risk Factor Guidelines

EBA Impact Assessment of Adoption of IFRS 9

Issues for Consideration in Implementing IFRS 9

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