News & Analysis as of

G-SII

Industry at odds with regulators over new framework for insurance recovery and resolution

by Hogan Lovells on

Insurance Europe, a trade body comprised of insurance associations representing approximately 95% of European premium insurance income, recently issued a press release reaffirming its stance on EU proposals for harmonising...more

Final EU Guidelines on Pillar 3 Regulatory Disclosure Requirements

by Shearman & Sterling LLP on

The European Banking Authority published final Guidelines on compliance with the regulatory disclosure requirements in the Capital Requirements Regulation. The EBA's Guidelines aim to ensure harmonized implementation of the...more

EU Recommendations on the Appropriateness of the Prudential Regime for Investment Firms

by Shearman & Sterling LLP on

The European Banking Authority published an Opinion on the criteria for identifying investment firms to which the EU regulatory capital requirements legislation should apply...more

On The Horizon: Global Insurance Capital Standards

by Carlton Fields on

Since 2013, the International Association of Insurance Supervisors (IAIS), an association of insurance supervisors representing more than 200 jurisdictions in approximately 200 countries, has been working on a plan to develop...more

The Financial Report, Volume 5, Number 15 (Global)

by DLA Piper on

Discussion and Analysis - I’ve been glued to my TV and my computer watching the “Games of the Thirty-First Olympiad in Rio de Janeiro.” Although the coverage, of course, focuses substantially on US athletes, NBC and...more

New wave of putative class actions challenge cost of insurance charges

by Dentons on

In recent months, life insurers across the country have faced a new onslaught of putative cost of insurance class actions. These cases bring novel theories but may also revive a decades-old jurisprudential debate over whether...more

UK Financial Regulatory Developments - June 2016 #14

by Dentons on

IAIS consults on mutuals’ role in insurance markets - IAIS has published a consultation paper looking at how mutuals, community organisations and co-operatives operate and the role they play in the insurance marketplace....more

Financial Regulatory Developments Focus - June 2016

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

UK Financial Regulatory Developments - May 2016 #20

by Dentons on

Commission adopts BRRD RTS on MREL and valuing derivatives’ liabilities - The Commission has adopted two Delegated Regulations on RTS supplementing the BRRD in relation to the bail-in resolution. The first specifies the...more

Amendments to EU Technical Standards on Disclosure for Identification of G-SIIs

by Shearman & Sterling LLP on

A Commission Implementing Regulation which amends the Implementing Technical Standards on uniform formats and dates for the disclosure of values used to identify global systemically important institutions under the CRR was...more

The Federal Reserve Board Outlines Approach For Capital Rules For Federally Supervised Insurance Groups

At the NAIC’s tenth International Insurance Forum, Daniel K. Tarullo, a member of the Board of Governors of the Federal Reserve System (FRB), outlined the FRB’s plans for: - ..the capital and liquidity rules for...more

European Banking Authority Publishes First List of Other Systematically Important Institutions

by Shearman & Sterling LLP on

The European Banking Authority published the first list of Other Systematically Important Institutions in the European Union. O-SIIs are institutions which have been deemed by national regulators to be systematically relevant...more

US Federal Deposit Insurance Corporation Vice Chairman Issues Global Capital Index Update

by Shearman & Sterling LLP on

The US Federal Deposit Insurance Corporation Vice Chairman Thomas Hoenig issued the semi-annual update of the Global Capital Index, an index showing the capital ratios for global systemically important banks. Upon release of...more

US Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation Jointly Determine that Five US...

by Shearman & Sterling LLP on

The US Federal Reserve Board and Federal Deposit Insurance Corporation jointly determined that the 2015 resolution plans of the following five US domestic global systemically important banking organizations are not credible:...more

Financial Regulatory Developments Focus - February 2016 #3

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Prudential Regulation Authority Publishes Approach to Identifying Other Systematically Important Institutions

by Shearman & Sterling LLP on

The Prudential Regulation Authority published policy statement outlining approach to identifying other systematically important institutions (i.e. institutions that are not classed as globally systematically important...more

UK Financial Regulatory Developments - January 2016 #10

by Dentons on

Treasury updates Iran sanctions - Treasury has issued a notice explaining the effects on sanctions against Iran of Implementation Day (I Day) under the Joint Comprehensive Plan of Action (JCPoA). I Day was 16 January, on...more

EBA Publishes Final Draft Technical Standards and Guidelines on Methodology and Disclosure for G-SIIs

The European Banking Authority (EBA) has published final draft technical standards and revised guidelines on the further specification of the indicators of global systemic importance and their disclosure. The guidelines have...more

PRA updates list of UK headquartered G-SIIs

by Dentons on

PRA has updated its CRD4 page to add the 2015 list of UK headquartered global systemically important institutions (G-SIIs), their respective sub-categories and the applicable scores and G-SII buffers....more

PRA publishes Leverage Ratio Buffer requirements for G-SIIs

by Dentons on

PRA has published additional leverage ratio buffer model requirements for G-SIIs. Applications for a voluntary requirement (VREQ) will include this additional leverage ratio buffer as well as the associated reporting and...more

IAIS consults on G-SII assessment methodology

by Dentons on

IAIS is consulting on updates to its assessment methodology for global systemically important insurers (G-SIIs). Changes include updating the indicators and the weightings given to each indicator, and a new approach to the...more

Financial Regulatory Developments Focus - November 2015 #2

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

FSB updates G-SIIs list

by Dentons on

FSB has published an updated list of G-SIIs. The updated list comprises a total of nine insurers with one new insurer, Aegon...more

Financial Regulatory Developments Focus - October 2015 #3

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

International Association of Insurance Supervisors Completes Higher Loss Absorbency Requirement for Global Systemically Important...

by Locke Lord LLP on

In its commitment to address risks of Global Systemically Important Insurers (“G-SIIs”) on the global financial system, the International Association of Insurance Supervisors (“IAIS”) recently announced completion of its...more

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