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EBA consults on Guidelines on complaints handling by credit servicers
The European Banking Authority (EBA) today launched a public consultation on its draft Guidelines on complaints handling by credit servicers under the Credit Servicers Directive (CSD). The proposed Guidelines suggest applying to credit servicers the requirements of the existing Joint Committee Guidelines on complaints-handling. Those requirements include complaints management policy, complaints management function, registration, reporting, internal follow-up, provision of information and procedures for responding to complaints. The consultation runs until 9 February 2024.
The EBA consults on draft regulatory technical standards on liquidity requirements and on draft Guidelines on liquidity stress testing of relevant issuers of tokens, under MiCAR
The European Banking Authority (EBA) today launched three consultations on draft Regulatory Technical Standards (RTS) to specify the liquidity requirements of the reserve of assets, the highly liquid financial instruments in the reserve of assets and the minimum content of the liquidity management policy and procedures of relevant issuers of tokens. Furthermore, the EBA consulted on draft Guidelines to establish the common reference parameters of the stress test scenarios to be included in their liquidity stress testing. These consultations form part of the prudential package of MiCAR deliverables and make up the third batch of MiCAR policy products. The consultations run until 8 February 2024.
The EBA consults on draft technical standards on own funds requirements and stress testing of issuers under MiCAR
The European Banking Authority (EBA) today a launched two consultations on draft Regulatory Technical Standards (RTS) on own funds requirements and stress testing of issuers under the Markets in Crypto-Assets Regulation (MiCAR) which form part of the prudential package of MiCAR products. The first RTS specify the adjustment of own funds requirements and stress testing of issuers of asset-referenced tokens and e-money tokens. The second RTS specify the procedure and timeframe to adjust its own funds requirements for issuers of significant asset-referenced tokens or of e-money tokens. These consultations, together with other consultations papers published today, form part of the third batch of MiCAR policy products. The consultations run until 8 February 2024.
The EBA consults on draft Guidelines on recovery plans for issuers of asset-referenced tokens and e-money tokens under MiCAR
The European Banking Authority (EBA) today launched a consultation on draft Guidelines on recovery plans to be drafted by issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs). These draft Guidelines set out the requirements with respect to the format of the recovery plans and the information to be included therein. This consultation together with other consultations papers published today form part of the third batch of MiCAR policy products. The consultation runs until 8 February 2024.
The EBA consults on the reporting of transactions with asset-referenced tokens and e-money tokens denominated in a non-EU currency under MiCAR
The European Banking Authority (EBA) today launched a consultation under the Markets in Crypto-Assets Regulation (MiCAR) on draft Regulatory Technical Standards (RTS) specifying the methodology to be applied by issuers of asset-referenced tokens (ARTs) and of e-money tokens (EMTs) denominated in a non-EU currency for reporting transactions associated to uses of these tokens “as a means of exchange”. In addition, the EBA also consulted on draft Implementing Technical Standards (ITS) specifying the related reporting requirements under MiCAR. These consultations together with other consultations papers published today form part of the third batch of MiCAR policy products. All consultations run until 8 February 2024.
The EBA consults on draft technical standards on supervisory colleges under MiCAR
The European Banking Authority (EBA) today launched a consultation on draft Regulatory Technical Standards (RTS) specifying the criteria for determining the composition of supervisory colleges for each issuer of a significant asset referenced token (ART) or of a significant e-money token (EMT). The draft RTS also specify the general conditions for the functioning of supervisory colleges under MiCAR. This consultation together with other consultations papers published today form part of the third batch of MiCAR policy products. All consultations run until 8 February 2024.
EBA releases the technical package for phase 3 of its 3.3 reporting framework
The European Banking Authority (EBA) today published the technical package for phase 3 of version 3.3 of its reporting framework. This provides the standard specifications that include the validation rules, the Data Point Model (DPM) and the XBRL taxonomies to support the new reporting on Interest Rate Risk in the Banking Book (IRRBB).
The EBA issues Opinion on a measure to address macroprudential risk following a notification by the Swedish Financial Supervisory Authority
The European Banking Authority (EBA) today published an Opinion following the notification by the Swedish Financial Supervisory Authority, Finansinspektionen, of its intention to extend for another two-year period a measure originally introduced in 2018 to ensure that banks remain resilient and can withstand a potentially severe downturn in the housing market without restricting the supply of credit.
European Supervisory Authorities publish joint criteria on the independence of supervisory authorities
The three European Supervisory Authorities– the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority (ESMA) (EBA, EIOPA and ESMA – the ESAs) – today published their joint criteria on the independence of supervisory authorities.
ESA’s Joint Board of Appeal suspends the decision by the European Securities and Markets Authority to withdraw the recognition decision of Dubai Commodities Clearing Corporation as a Tier 1 third-country central counterparties
The Joint Board of Appeal (“the Board”) of the European Supervisory Authorities (“ESAs”) decided that the application for suspension brought by Dubai Commodities Clearing Corporation (“DCCC”) against the European Securities and Markets Authority (“ESMA”) is admissible and suspends the ESMA Decision
The EBA consults on draft technical standards on the procedure for the approval of white papers of asset-reference tokens issued by credit institutions under the Markets in Crypto-Assets Regulation
The European Banking Authority (EBA) today published a Consultation Paper on draft regulatory technical standards (RTS) on the procedure for the approval of white papers of asset-reference tokens (ARTs) issued by credit institutions. These draft RTS aim at harmonising the approval procedure across the European Union by laying down the steps and timeframes to be followed by credit institutions and by the relevant competent authority. The consultation runs until 22 January 2024.
The EBA consults on draft technical standards on governance arrangements of the remuneration policy under the Markets in Crypto-Assets Regulation
The European Banking Authority (EBA) launched today a public consultation on its draft Regulatory Technical Standards (RTS) on the minimum content of the governance arrangements on the remuneration policy under the Market in crypto-assets Regulation (MiCAR). These draft RTS specify the main governance processes regarding the adoption, implementation and maintenance of the remuneration policy and the main policy elements that should be included in the remuneration policy. The consultation runs until 22 January 2024.
The EBA consults on draft Guidelines on internal governance arrangement for issuers of asset-referenced tokens under the Markets in Crypto-Assets Regulation
The European Banking Authority (EBA) today launched a public consultation on its new Guidelines on internal governance arrangements for issuers of asset referenced tokens (ARTs) under the Market in crypto-assets Regulation (MiCAR). These Guidelines specify the governance provisions that these issuers should comply with, taking into account the proportionality principle. This governance framework aims at ensuring a sound management of all risks associated with the activities of issuers of ARTs, such as operational risks, including fraud, cyber, and compliance risks. In addition, the provisions aim to adequately protect consumers and investors. The consultation runs until 22 January 2024.
EBA and ESMA consult on two sets of Joint Guidelines on suitability assessments of the management body and holders of qualifying holdings under MiCAR
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) today published a Consultation Paper on two draft Joint Guidelines covering suitability assessment of members of the management body, and suitability of shareholders and members with qualifying holdings of issuers of asset referenced tokens (ARTs) and of crypto-asset service provider (CASPs). The guidance will provide clarity and harmonisation with respect to the criteria to assess the suitability of the management body, the shareholders and members with qualifying holdings, thus reducing the risk of arbitrage in the application of the rules. The consultation runs until 22 January 2024.
The EBA sets EU-wide examination programme priorities for prudential supervisors for 2024
The European Banking Authority (EBA) today published the European Supervisory Examination Programme (ESEP) for 2024, which identifies key topics for heightened supervisory attention across the European Union. The ESEP is aimed at driving supervisory convergence by providing Competent Authorities with a single set of priorities for implementation in 2024.
The EBA recommends enhancements to the Pillar 1 framework to capture environmental and social risks
The European Banking Authority (EBA) today published a Report on the role of environmental and social risks in the prudential framework of credit institutions and investment firms. Taking a risk-based approach, the Report assesses how the current prudential framework captures environmental and social risks. It recommends targeted enhancements to accelerate the integration of environmental and social risks across the Pillar 1. The proposed enhancements aim to support the transition towards a more sustainable economy, while ensuring that the banking sector remains resilient.
EU/EEA banks: benefits from rising interest rates are stabilising, the EBA says
The European Banking Authority (EBA) today published its Q2 2023 quarterly Risk Dashboard (RDB). Banks’ profitability and capital ratios increased further, while macroeconomic uncertainty weighed on loan growth.
The EBA publishes 2023 list of third country groups and third country branches operating in the EU/EEA
The European Banking Authority (EBA) published today the updated list of all third country groups (TCGs) with intermediate EU parent undertakings IPU(s), where applicable, and the list of all third country branches (TCBs) operating in the European Union and European Economic Area (EU/EEA). This publication ensures that market participants have clarity on the direct ownership of the involved institutions.
ESAs publish Joint Committee Work Programme for 2024
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) publishes today its Work Programme for 2024, outlining the areas of work and planned deliverables in 2024.