ECB Annual Report 2020 ecb.europa.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ecb.europa.eu Daily Mail and Mail on Sunday newspapers.
The European Commission published a
30 March
FSB”) published a
speech made by Randal Quarles, FSB Chair, that sets out details of the FSB s areas of focus for 2021.
European Securities and Markets Authority (“
ESMA”) published an updated version of its
Q&As (ESMA34-32-352) on the application of the Alternative Investment Fund Managers Directive (EU/2011/61) (“
AIFMD”).
HM Treasury published a
statement concerning the first meeting of the Joint Committee established under the UK-US bilateral agreement on insurance and reinsurance prudential measures.
ESMA published its
final report (dated 23 March 2021) (ESMA74-362-1013) on reference data and transaction reporting obligations under the Markets in Financial Instruments Regulation (600/2014) (“
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On 1 January 2019 EU Regulation 2402/2017 (Securitisation Regulation) started to apply, giving rise to one of the most ambitious capital markets projects of the EU: the creation of an homogeneous regulatory framework applicable to all European securitisations. The goal of the project was high: revamping and strengthening the EU securitisation market and, in particular, revitalising “public deal” activity.
Prior to the arrival of the Covid-19 crisis, the Securitisation Regulation was brilliantly accomplishing its mission, as in 2019 it led to a substantial rise of new public securitisations. The main appeal for the investors had been a magic word: “STS”. In fact, all these public securitisations complied with the new Securitisation Regulation’s criteria allowing them to be classified as simple, transparent and standardised (
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This week, reports on recent UK and EU regulatory developments of interest to insurers and their intermediaries.
Contents
Use of LEIs: EIOPA consults on revised guidelines
IDD: EIOPA completes analysis of national general good rules
Following a seasonal break, the next update will be published on 19 April 2021.
Review of Solvency II effective value test parameters: PRA statement
The UK Prudential Regulation Authority (PRA) has published a statement setting out the findings from its review of the minimum deferment rate, which is one of the effective value test (EVT) parameters relating to the UK implementation of the Solvency II Directive.
Regulators are urging banks and insurance companies to exercise caution in handing out dividend payments to shareholders and bonuses to employees, as Europe continues to struggle to cement its recovery from the COVID pandemic.
With uncertainty over how the pandemic will evolve, and how quickly the economic recovery will pick up, financial regulators are calling for prudence from financial players to ensure they can weather the months ahead.
Last month, Andrea Enria, chair of the European Central Bank’s supervisory board, told reporters that the eurozone’s bank supervisor was trying to keep dividends and bonuses under control.
Enria said that “few banks” wanted to pay more than it was recommended, and in these cases, the supervisor was discussing the plans with them.