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EBA Publishes Final Technical Standards To Ensure Effective Application Of Stay Powers Under The BRRD Date 16/12/2020 The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on the contractual recognition of stay powers. The technical standards provide further specification of essential elements to ensure the effectiveness of the resolution regime established by the Bank Recovery and Resolution Directive (BRRD). These standards are part of the EBA's major programme of work to implement the BRRD and address the problem of too-big-to-fail b...

By Tyler Davies 15 Dec 2020 If MREL is going to be an important line of defence for Europe’s banking system, market participants had better be able to see those defences. At the moment, they are hidden in mists. The European Union’s Single Resolution Board made a belated step in the right direction last week, when it published its first overview of minimum requirements for own funds and eligible liabilities (MREL) for banks. MREL is now fairly well understood as a regulatory concept in European financial markets.  The requirements were officially introduced six years ago, as part of the ...

EBA Updates Its Basel III Impact Study Following The EU Commission’s Call For Advice Date 15/12/2020 The European Banking Authority (EBA) published today its updated ad-hoc impact study on the implementation of Basel III in the EU in response to the EU Commission’s call for advice (CfA). The study is based on a sample of 99 banks and has a reference date of December 2019. Under the full implementation of Basel III and conservative assumptions, the updated impact is meaningfully lower than previously estimated, using June 2018 data and a consistent sample.  In addition, the Report...

To embed, copy and paste the code into your website or blog: Recent regulatory developments focussing on banking and finance. See developments of broader scope in the Related Materials links. Contents CRR II: PRA CP22/20 on designation of firms within certain consolidation groups Systemic risk buffer rates: PRA update BRRD: PRA PS25/20 on simplified obligations for recovery planning BRRD II: FCA statement on transposition COVID-19: FCA guidance consultation on BBLS and collecting debts Bank mergers and acquisitions: SRB guidance Post-Brexit transition period: ESAs confirm status of STS transa...

Approach of insolvency practitioners to regulated firms: FCA GC20/5 FCA policy development update Counter-Terrorism (Sanctions) (EU Exit) (Commencement) Regulations 2020 Data localisation impact on financial services sector: IRSG report MLD4: European Commission draft Delegated Regulation removing Mongolia from high-risk third countries Islamic financial services: IFSB to adopt two new standards Digital trust and identity for legal entities: GLEIF development programme Hogan Lovells Brexit resources As the UK-EU Brexit transition period draws to an end, take a look at our various "Beyond Brex...