Page 12 - Resolution Directive News Today

(1) requirement RCI Banque has received the notification from ACPR, the French Prudential and Resolution Supervision Authority, implementing the decision of the Single Resolution Board (SRB) and discloses its updated binding minimum requirement for own funds and eligible liabilities (MREL (1)). MREL requirement is no longer defined on consolidated basis but has been set on an individual basis for both RCI Banque S.A and its French subsidiary DIAC S.A. RCI Banque S.A. MREL requirement has been ...

To print this article, all you need is to be registered or login on Mondaq.com. Following the expiry of the transition period which ended on 31 December 2020 at 11pm GMT (known as "IP Completion Day"), the UK is no longer a member of the EU. During the transition period (between 31 January 2020 when the UK has formally withdrawn from the European Union) to the IP Completion Day, the UK has implemented certain key pieces of legislation to ensure that following its exit fr...

Operational resilience: developments in the financial services sector in the UK - In recent years, operational resilience has come under the spotlight of financial regulators globally,...

EBRD invests Nine Million Euros in Croatian Subsidiary of Austria’s Erste Group February 6, 2021 2:30 PM by Y.Z The European Bank for Reconstruction and Development (EBRD) is investing €9 million in bonds issued by Erste & Steiermärkische Bank d.d., the Croatian subsidiary of Austria’s Erste Group Bank AG, as part of a €45 million issuance listed on the Zagreb Stock Exchange and marketed mainly to local institutional investors. It is the...

EBRD in first MREL-eligible bond purchase in Croatia EBRD in first MREL-eligible bond purchase in Croatia Securities compliant with EU regulation Engagement to strengthen resilience and green agenda The European Bank for Reconstruction and Development (EBRD) is investing €9 million in bonds issued by Erste & Steiermärkische Bank d.d., the Croatian subsidiary of Austria’s Erste Group Bank AG, as part of a €45 million issuance listed on the Zagreb Stock Exchange and marketed mainly to loc...

Recent regulatory developments focussing on banking and finance.  Contents End of Brexit transition period: BoE and SRB cooperation arrangement MREL and resolvability for mid-tier banks: BoE extends deadline MREL: BoE discussion paper CRD V implementation and designation of firms within certain consolidation groups: PRA PS29/20 International banks: PRA CP2/21 on approach to branch and subsidiary supervision Transposing BRRD II: PRA PS28/20 LIBOR transition: Working Group paper on credit adjust...

Thursday, January 7, 2021 31 December The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact this will have. 30 December In relation to Brexit, the UK-EU Trade and Cooperation Agreement was signed, which would apply from 1 January 2021. 28 December The Prudential Regulation Authority ("PRA") published a policy statement (PS29/20) ...

Risk.net UK scraps pre-resolution stays, while EU regulators could opt for even stricter measures Print this page   The UK has signalled its first major regulatory break with the European Union, over pre-resolution stays that give supervisory authorities the power to prevent the termination of financial contracts with a bank on the brink of failure. The new requirements are contained in the second Bank Recovery and Resolution Directive (BRRD II), which must be implemented by EU mem...

Give Member States and the financial sector the tools they need to address any rise in NPLs in the EU banking sector as a result of the COVID-19 crisis.

Yannis Stournaras: Paving the way for growth and financial stability in Greece and Europe Speech by Mr Yannis Stournaras, Governor of the Bank of Greece, at the 22nd Annual Capital Link Invest in Greece Forum "Greece- Looking Ahead With Confidence", 15 December 2020. Central bank speech  |  1.         Greek economic developments and prospects The COVID-19 pandemic has halted the recovery of the Greek economy that had begun in 2017. Real GDP contracted by 8.5% y-o-y ...