The EBA has launched a consultation on two RTS and ITS on the functioning of supervisory colleges under the CRD. These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges...more
ECB in focus is our blog dedicated to the banking supervisory activities of the European Central Bank (ECB). We report on key developments in European banking regulation led by the ECB as part of the Single Supervisory...more
The Banking Supervision arm of the European Central Bank has opened a consultation on a proposed guide on assessing counterparty credit risk...more
The Banking Supervision arm of the European Central Bank has set out its expectations of Eurozone banks regarding their dividend distribution and variable remuneration policies. The ECB is responsible for direct prudential...more
The European Central Bank has opened a consultation on proposed guidelines on the materiality threshold for credit obligations past due for less significant institutions based in the Eurozone. The EU Capital Requirements...more
The European Courts have handed down first judgments on supervisory measures taken by the ECB, highlighting important issues regarding the application of the law. The Single Supervisory Mechanism (SSM) refers to the...more
The European Central Bank's Banking Supervision arm has published the 2020 supervisory priorities of the Single Supervisory Mechanism and a risk assessment for 2020. ECB Banking Supervision has identified the following risks...more
The European Central Bank has issued a statement on the results of its 2019 supervisory stress test. The European Central Bank is responsible for direct prudential supervision of certain significant banks based in the...more
Following the coming into force on April 26, 2019 of an EU regulation amending the Capital Requirements Regulation that introduced a statutory prudential backstop, and requires banks to have minimum loan loss coverage for...more
The European Central Bank has published its finalized Guide to on-site inspections and internal model investigations under the Single Supervisory Mechanism. The ECB is empowered under the SSM Regulation to conduct, with...more
U.S. Financial Industry Developments - Credit Agreements Will Require Important Updates If a Proposed New Delaware Law Is Passed - The Delaware legislature is currently contemplating an amendment to the Delaware Limited...more
The European Central Bank (“ECB“) published a letter on June 13, 2018 (dated June 7, 2018) relating to internal model requests by significant institutions. It appears that the letter has been sent to the boards of...more
ECB Publishes Opinion on Proposed Regulation Amending EBA Regulation - The European Central Bank ("ECB") published an opinion (CON/2018/19) (dated April 11, 2018) on a proposed Regulation amending (among other things) the...more
Booking model practices used by international banks placed under scrutiny as a result of Brexit. The European Central Bank has been considering the booking model practices used by international banks, and how to prevent...more
SEC Announces the Formation and First Members of Fixed Income Market Structure Advisory Committee - On November 9, 2017, the Securities and Exchange Commission ("SEC") announced the formation and first members of its Fixed...more
The European Central Bank has published a Report on the supervision of less significant institutions under the Single Supervisory Mechanism. The SSM is made up of the ECB and national regulators of Eurozone member states, and...more
CFTC Indicates Willingness to Help Incubate Fintech - On February 21, 2017, J. Christopher Giancarlo, the acting chairman of the U.S. Commodity Futures Trading Commission ("CFTC"), has diverged from other U.S. federal...more
On February 20, 2017, the European Central Bank (“ECB“) published a letter from Ms. Daniele Nouy, Chair of the Supervisory Board of the ECB, to the management of significant institutions under the Single Supervisory Mechanism...more
FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more
Financial Industry Developments - CFTC Division of Market Oversight Reminds Market Participants of the Upcoming Expiration of Certain No-Action Relief From the Ownership and Control Final Rule - On November 16,...more
On March 24, 2016, Regulation ((EU) 2016/445) of the European Central Bank (ECB) on the exercise of options and discretions (ODs) was published in the Official Journal of the EU (OJ). The ECB has also published a guide on the...more
On January 6, the European Central Bank (“ECB”) published a paper setting out its supervisory priorities in relation to the banks it supervises under the Single Supervisory Mechanism (“SSM”). The ECB’s supervisory priorities...more
Danièle Nouy, Chair of the Supervisory Board of the European Central Bank (ECB), made a speech on September 15, 2015 at a Financial Markets Authority conference in Austria. She discussed the role of the Supervisory Board of...more
On 4 September 2014, the EU’s European Central Bank (ECB) published its final list of significant supervised entities and less significant institutions for the purposes of the Eurozone’s single supervisory mechanism (SSM),...more
In a press release dated October 23, the ECB announced that it will undertake a comprehensive assessment of large banks prior to assuming full responsibility for supervision as part of the SSM. ...more