ESAs present common understanding of greenwashing and warn on related risks

​​​​​​​The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published their progress Reports on greenwashing in the financial sector. In these Reports, the ESAs put forward a common high-level understanding of greenwashing applicable to market participants across their respective remits – financial markets, banking, and insurance and pensions.

EBA consults on new RTS and ITS on supervisory colleges

​​​​​​​The European Banking Authority (EBA) launched today a public consultation on draft Regulatory Technical Standards (RTS) and draft Implementing Technical Standards (ITS) on the functioning of supervisory colleges under the Capital Requirements Directive (CRD). These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges is better aligned with the Level 1 regulation and able to promote a more efficient and effective supervision of cross-border banking groups. The consultation runs until 30 August 2023.

EBA Peer Review finds credit valuation adjustment risk is overall supervised sufficiently and recommends some follow-up measures to further strengthen supervision

The European Banking Authority (EBA) published today its Peer Review on excluding transactions with non-financial counterparties established in a third country from credit valuation adjustment (CVA) risk. The Review found that the competent authorities targeted in this review assessed CVA risk sufficiently although some elements of such an assessment were missing. The EBA, therefore, has set out a series of follow-measures to address these deficiencies.

ESAs launch discussion on criteria for critical ICT third-party service providers and oversight fees

The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) today published a joint Discussion Paper seeking stakeholders’ input on aspects of the Digital Operational Resilience Act (DORA). This Discussion Paper follows the European Commission’s request for technical advice on the criteria for critical ICT third-party providers (CTPPs) and the oversight fees to be levied on them. Interested stakeholders are invited to provide their input by 23 June 2023.

ESAs propose ESG disclosures for STS securitisations

The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today jointly submitted to the European Commission Draft Regulatory Technical Standards (RTS) on the ESG impact disclosure for Simple, Transparent and Standardised (STS) securitisations under the Securitisation Regulation (SECR).  These final draft RTS aim to help market participants make informed decisions about the sustainability impact of their investments.

ESAs consult to amend technical standards on the mapping of ECAIs’ credit assessments

​​​​​​​The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation to amend the Implementing Regulations on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk. The Implementing Regulations are part of the EU Single Rulebook for banking and insurance aimed at creating a safe and sound regulatory framework consistently applicable across the European Union (EU). The consultation runs until 26 June 2023.

EBA publishes corrigendum of Guidelines on DGS contributions, amending the Guidelines on available financial means of DGS 

The European Banking Authority (EBA) today published a corrigendum of the revised Guidelines on methods for calculating contributions to deposit guarantee schemes under the DGSD (EBA/GL/2023/02). The corrigendum applies to paragraph 13 in the section Repeal. This correction states that paragraph 21 of the related Guidelines on the delineation and reporting of available financial means (AFM) of DGS (EBA/GL/2021/17), issued on 17 December 2021, will be deleted.

ESAs publish Joint Annual Report for 2022

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) today published its 2022 Annual Report, which provides an account of its joint work completed over the past year.

EBA revised templates for reporting of deposits subject to Russian and Belarusian economic sanctions

Following the request from the EU Commission, the European Banking Authority (EBA) has updated templates to be used for the second annual reporting of information on deposits subject to the Russia and the Belarus Economic Sanctions Regulations. The EBA is making the template available for voluntary use by the relevant national competent authorities and by the EU Commission, with the aim to promote a convergent approach and to reduce any associated reporting costs, especially for cross-border banks.

ESAs draw consumers’ attention to how rises in inflation and interest rates might affect their finances

The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published an interactive factsheet to help consumers understand how the recent increases in inflation and interest rates can affect their money. This includes the financial products and services that consumers currently hold or plan to buy, such as loans, savings, financial investments, insurance and pensions.

EBA publishes draft technical standards on the prudential consolidation of an investment firm group and completes its Roadmap on investment firms

​​​​​​​The European Banking Authority (EBA) today published its draft Regulatory Technical Standards (RTS) on the scope and methods of consolidation of an investment firm group under the Investment Firms Regulation (IFR). These RTS detail the scope and methods for the prudential consolidation, as well as the methodology for the consolidation of capital requirements and the rules applicable for minority interest and additional Tier 1 and Tier 2 instruments issued by subsidiaries in the context of prudential consolidation. The aim of these RTS is to ensure prudential consolidation is carried out in a harmonised and consistent way. These RTS are the last regulatory products of the EBA Roadmap on investment firms, released in June 2020.

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