EBA Releases Final Draft Technical Standards on Valuation in Resolution
The European Banking Authority (EBA) has published its final draft Regulatory Technical Standards (RTS) on valuation in resolution. These draft RTS are a crucial piece of regulation for the resolution framework as they aim to provide the independent valuer with common criteria for the valuation, which will inform the decisions made by resolution authorities, thus promoting a consistent approach to such valuations across the EU.
EBA Releases Updates List of CET1 Instruments
The European Banking Authority (EBA) has published its fifth updated list of capital instruments that Competent Supervisory Authorities (CAs) across the European Union (EU) have classified as Common Equity Tier 1 (CET1). The list is for the first time accompanied by a Report, which includes additional information on the underlying objectives of the monitoring update as well as on the consequences of including or excluding instruments in or from the list. The EBA intends to update this report on a regular basis to give account of new developments in CET1 issuances and market practices.
EBA Releases Opinion on Own Funds
The European Banking Authority (EBA) has published an opinion addressed to the EU institutions expressing its views on a number of aspects related to own funds in the context of the European Commission's proposal to amend the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD). In the opinion, the EBA calls, in particular, for a possible strengthening of the Authority's role in assessing issuances of CET1 instruments. In addition, the opinion elaborates on restrictions on distributions in the context of capital conservation measures and suggests introducing a general anti-circumvention principle.
EBA Announces Details of its 2017 EU-Wide Transparency Exercise
The European Banking Authority (EBA) announced that it will publish data for its fourth annual EU-wide transparency exercise in December 2017 together with the Risk Assessment Report (RAR). Nearly 600000 data points in total on more than 130 banks will be released, covering all key balance sheet items. The transparency exercise is part of the EBA's efforts to foster market discipline, improve the understanding of the EU banking system and ensures both a detailed snap shot and consistent time series.
EBA Consults on Scope of its Draft Guidelines on Connected Clients
The European Banking Authority launched today a consultation focusing on the scope of its draft Guidelines on connected clients, on which it had already sought the stakeholders' views in July 2016. In the new consultation, the EBA is proposing to extend the scope of these draft Guidelines to the remaining aspects of the Capital Requirements Regulation (CRR), the EBA technical standards, and the EBA guidelines where the concept of group of connected client is relevant. The extension of the scope would ensure the consistent application of this concept throughout the CRR and the harmonisation of institutions' practices. The consultation runs until June 26, 2017.
ESMA Releases Opinion on OTC Derivatives under MIFID II and MiFIR
The European Securities and Markets Authority (ESMA) has issued an opinion regarding the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The opinion clarifies the concept of “traded on a trading venue” (TOTV), which is relevant for a number of provisions under MIFID II and MiFIR.
ESMA Releases Consultation Paper on Money Market Funds Regulation
The European Securities and Markets Authority (ESMA) has published a consultation paper (CP) on the Money Market Funds Regulation (MMFR). The CP contains proposals on draft technical advice (TA), draft implementing technical standards (ITS), and guidelines under the MMFR. The key proposals relate to asset liquidity and credit quality, the establishment of a reporting template and stress test scenarios.
ECB Releases Report on Access to Finance
The European Central Bank (ECB) published its 16th report on the results of the “Survey on the Access to Finance of Enterprises”. The report provides evidence on changes in the financial situation, financing needs and access to financing of small and medium-sized enterprises (SMEs) in the euro area in the six months from October 2016 to March 2017, as well as comparing the situation of SMEs with that of large enterprises.
Yves Mersch Speaks on Financial Market Integration
The Bank for International Settlements released European Central Bank Executive Board Member Yves Mersch's speech entitled "Advancing Financial Market Integration" delivered at the World Bank Government Borrowers Forum on May 18, 2017 in Luxembourg.
Andreas Dombret Speaks on Merits and Challenges of Global Cooperation
The Bank for International Settlements released Deutsche Bundesbank Executive Board Member Andreas Dombret's speech entitled "The Merits of and Challenges for Global Cooperation" delivered at the 30th Anniversary of the Bundesbank's Representative Office on May 22, 2017 in Tokyo, Japan.