News & Analysis as of September 18, 2024

Financial Institutions

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

European Banking Authority Amends Implementing Technical Standards Specifying the Data Collection for the 2025 Benchmarking...

A&O Shearman on 8/9/2024

The European Banking Authority has published its final draft Implementing Technical Standards amending the Implementing Regulation on the benchmarking of credit risk, market risk, and IFRS9 models for the 2025 exercise....more

UK Prudential Regulation Authority Publishes Policy Statement on Leverage Ratio Treatment of Omnibus Account Reserves

A&O Shearman on 8/6/2024

The Prudential Regulation Authority has published a policy statement on the leverage ratio treatment of omnibus account reserves and minor amendments to the leverage ratio framework. PRA rules require firms to exclude from...more

Outline CRR III / CRD VI - Final Basel III Standards

Mayer Brown on 6/21/2024

I. IMPLEMENTING BASEL III THROUGH THE CRR III REGULATION - The Basel III standards comprise a package of reforms that were largely agreed by the Basel Committee on Banking Supervision ("BCBS") in December 2017 and set out...more

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

Skadden, Arps, Slate, Meagher & Flom LLP on 1/8/2024

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

Securitisation and capital requirements – a match (not) made in Basel?

Hogan Lovells on 10/13/2022

The updated Basel III framework is the principal response of the Basel Committee to the global financial crisis. The updated framework makes wide-ranging changes to the perceived shortcomings of the previous regime. Although...more

EBA Consults on Homogeneity Regulatory Technical Standards for STS Securitisations

Morgan Lewis on 8/15/2022

The European Banking Authority (the EBA) recently published a consultation paper with proposed amendments to the regulatory technical standards (RTS) on the homogeneity of the underlying exposures in securitisation, following...more

Banking and finance regulatory news, July 2021 #3

Hogan Lovells on 7/19/2021

UK CRR: Draft Capital Requirements Regulation (Amendment) Regulations 2021 A draft version of the Capital Requirements Regulation (Amendment) Regulations 2021 has been published, together with a draft explanatory memorandum....more

Nachhaltige Finanzierungen (Sustainable Finance) in der Kreditwirtschaft

King & Spalding on 6/16/2021

Das Thema nachhaltige Finanzierung (Sustainable Finance) nimmt weiter an Fahrt auf und steht Anfang 2021 erneut im Fokus: diesseits des Atlantiks ist zum 10. März 2021 die EU-Offenlegungsverordnung in Kraft getreten, nach der...more

Banking and finance regulatory news, March 2021 # 3

Hogan Lovells on 3/15/2021

Open banking: CMA consultation on future governance - The Competition and Markets Authority (CMA) is consulting on the future governance of open banking. In order to implement open banking, the CMA required the nine largest...more

COVID-19 Update: Changes to the EU Securitisation Regulations and the Capital Regulation Reference

Cadwalader, Wickersham & Taft LLP on 12/24/2020

As discussed in our previous Clients and Friends Memo (the “First Update”), on 24 July 2020 the European Commission (the “Commission”) published proposed amendments to the current securitisation framework set out in...more

EBA Proposes Limits on Capital Relief for Securitisations

Dechert LLP on 12/24/2020

Overview - The EU Capital Requirements Regulation, which came into effect in January 2014, mandated the European Banking Authority to report by 2 January 20212 on the regulatory approach to granting capital relief for...more

Banking and finance regulatory news, July 2020

Hogan Lovells on 7/9/2020

Recent regulatory development focussing on banking and finance. Includes updates relating to COVID-19 regulatory response, CRR, and more....more

European Banking Authority Launches Consultation on Technical Standards Governing Own-Funds Requirements for Non-Trading Book...

A&O Shearman on 1/30/2020

The European Banking Authority has launched a consultation on its draft regulatory technical standards specifying how institutions should calculate their own funds requirements for market risk in respect of non-trading book...more

EU Regulation and Directive on Covered Bonds Published

A&O Shearman on 1/16/2020

A new Regulation and Directive amending certain provisions of the Capital Requirements Regulation on covered bonds and introducing standards on the issuance of covered bonds and covered bond public supervision has been...more

Legal Update: regulatory technical standards on homogeneity for STS transactions published in official journal

Mayer Brown on 12/9/2019

The EU has, on 6 November 2019, published in the Official Journal a delegated regulation (the “Delegated Regulation”) supplementing the EU Securitisation Regulation (the “Securitisation Regulation”) with regard to regulatory...more

European Banking Authority Publishes Basel III Capital Monitoring Report and Update on EU Bank Liquidity Measures

A&O Shearman on 10/11/2019

The European Banking Authority has published two reports reviewing the impact of the EU’s implementation of the Basel III capital monitoring reforms and Capital Requirements Regulation liquidity measures. The EBA estimates...more

European Banking Authority Launches Consultation on Synthetic Securitizations Framework

A&O Shearman on 10/10/2019

The European Banking Authority has launched a consultation on its proposed simple, transparent and standardized framework for synthetic securitization. The paper also seeks feedback from stakeholders on a proposed list of...more

Regulation Round Up - September 2019

Proskauer Rose LLP on 10/9/2019

2 September - The Financial Conduct Authority ("FCA") updated its webpage relating to its guidance consultation on the fair treatment of vulnerable customers. The European Securities and Markets Authority ("ESMA")...more

EU Clarification on Legacy Own Funds Instruments Coming in Mid-2020

A&O Shearman on 9/27/2019

The European Banking Authority has announced that it will clarify by mid-2020 the position of instruments that were both issued and qualified as "own funds" for capital purposes before December 31, 2011. When the Capital...more

UK Prudential Regulator Proposes Amendments to the Pre-Issuance Notification Rules for Regulatory Capital Instruments

A&O Shearman on 9/27/2019

The U.K. Prudential Regulation Authority has published a consultation paper in which it proposes amendments to the Pre-Issuance Notification (PIN) requirements for regulatory capital instruments. The PIN requirements are...more

Beyond capital and liquidity: structural implications of the EU’s prudential regulatory reforms

A&O Shearman on 7/19/2019

We look at the architecture of the new European regulatory framework and some of the key areas relevant to the corporate structure of UK and other European financial institutions....more

Revisions to EU Bank Recovery and Resolution Directive Finalized

A&O Shearman on 7/5/2019

A new Directive amending the EU's Bank Recovery and Resolution Directive, widely referred to as "BRRD2", has been published in the Official Journal of the European Union....more

ITFA publishes revised guidelines on CRR-compliant insurance policies

Sullivan & Worcester on 6/13/2019

This week ITFA published its revised guidelines on CRR-compliant insurance policies. The guidelines were first published in 2016 to assist banks with navigating the complex rules for credit risk mitigation that apply to...more

European Banking Authority Launches Consultation on Technical Standards for Counterparty Credit Risk

A&O Shearman on 5/15/2019

The European Banking Authority has launched a consultation on the Regulatory Technical Standards that it is developing to govern certain aspects of counterparty credit risk in derivatives transactions. The EBA has been...more

New EU Requirements On Minimum Loan Loss Coverage For Newly Originated Loans

A&O Shearman on 5/6/2019

An EU Regulation amending the Capital Requirements Regulation introducing a statutory prudential backstop, and requiring banks to have minimum loan loss coverage for newly originated loans, has been published in the Official...more

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