Moody's Investors Service, ("Moody's") has downgraded Interswitch Limited's (Interswitch) corporate family rating (CFR) to B3 from B2. Moody's has also downgraded the senior unsecured medium-term note programme ratings of Interswitch Africa One Plc, a special purpose vehicle owned by
<p><span><span>The European Banking Authority (EBA) published today an update to its Implementing Technical Standards (ITS) on benchmarking of internal approaches. The updated ITS include all benchmarking portfolios and metrics that will be used for the 2022 exercise. The benchmarking exercise is an essential supervisory tool to enhance the quality of internal models, which is particularly important in a stressed economic situation.</span></span></p>
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[co-authors: Giulia Geraci, Alessandro Nicolini]
The latest Consultations launched by the European Banking Authority (EBA) and the Bank of Italy on regulatory capital requirements for banks may lead to opportunities for alternative lenders, as traditional financiers may face increased constraints and funding costs in certain industries or jurisdictions.
The Consultations
On 29 April the EBA launched a Consultation on the technical standards to assess the risk weights and minimum Loss Given Default values for loans secured with real estate.
On 28 April, the Bank of Italy published a Consultation focused on :
the introduction of a systemic risk buffer (
SyRB) for banks and banking groups authorised in Italy. The SyRB is envisaged by the EU Capital Requirements Directive and the Credit Risk Regulation, to counter risks which are not addressed by the other capital conservation and countercyclical buffer regulations. This topic was addressed in the EBA s guidelines EBA/GL/2020/13 of
Publication of 2020 UK Annual Report
The Company s annual report for the year ended 31 December 2020, prepared in connection with the Company s obligations under the UK Disclosure and Transparency Rules (the UK Annual Report ), has today been published and is available on the Company s website at https://www.santander.com/en/ or by pressing the below link:
In compliance with Listing Rule 14.3.6R, a copy of the UK Annual Report has been submitted to the Financial Conduct Authority and will shortly be available for inspection on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
In compliance with Disclosure and Transparency Rule ( DTR ) 6.3.5R, the UK Annual Report can also be downloaded in pdf format from the Company s website at https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information#filings-with-other-regulatory-bodies.