European Banking Authority (EBA)
Supervisors must co-ordinate on ‘significant-plus’ branches – EBA
Guidelines set out advice for handling branches with “critical” functions
Irish deputy governor warns hard Brexit is ‘entirely plausible’
Ed Sibley voices concerns over new costs and frictions in European markets; EBA warns against setting up “shell offices” as response to Brexit
Banco Sabadell relocates outside of Catalonia
The bank wants to ensure it remains under the supervision of the ECB
EBA recommends new prudential regime for investment firms
Firms should be subject to tripartite classification with different capital requirements
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
European Commission announces supervisory agency reforms
Proposals would see Esma’s powers significantly increased while all ESAs would gain executive boards
Banks are scrambling to hit IFRS 9 deadline – survey
Many banks appear to have been caught off-guard by the complexity of adapting to IFRS 9; impact assessments still patchy, but some see provisioning needs up by 40% or more
Wide differences exist in European fintech regulation, EBA says
Largest proportion of surveyed firms subject to no regulation
Banks’ funding plans need ‘careful monitoring’, EBA says
Planned increase in MREL issuances in 2018–09 may cause problems, report warns
Tensions rise as EU payments deadline nears
Europe’s revised payment services directive is meant to boost innovation, competition and security, but many are concerned it has serious flaws
EBA study quantifies impact of IFRS 9
Report finds smaller banks are likely to see a heavier capital impact from new accounting rules; Basel Committee paper says a mix of forward- and backward-looking rules may work best
ECB wants ESAs to focus on ‘European dimension’
The central bank says supervisors should be reshaped to better promote European interests; it recommends greater powers and a governance shake-up
Bank innovation in consumer data will increase, EBA says
New laws will hasten pace of innovation but should increase consumer rights, EBA argues; market participants see laws as adequate but concerned about cyber security
European supervisory authorities set out AML-CFT guidelines
Document spells out methods for implementing “risk-based approach”
EBA calls for tighter money-laundering curbs on crowdfunding
EC should make consumer protection a “key” part of its fintech approach, the EBA says
ECB provides detail on stress-testing methods
Top-down approach helped supervisors challenge banks’ results, ECB says
EBA calls for reform of its funding and governance
Funding shortfalls are “unreasonable”, Enria says; some governance arrangements are “overly cumbersome”
Banks mull dedicated IFRS 9 capital buffers
Volatility of loan-loss provisioning from new accounting standard demands additional own-funds protection, say banks
European supervisory authorities call for changes to stress test methods
Next European stress tests should simulate yield changes and “interconnectedness”
People: Interim deputy for Ireland; Turkish MPC member quits
Ireland shuffles top positions as Cyril Roux departs; Turkey’s Aysan is returning to academia; Esma appoints new board members
EBA provides guidance on bail-ins under European directive
Guidelines cover shareholders, debt-equity conversions and “grandfathered” assets
EC consults on twin peaks model for supervisory authorities
Document asks stakeholders for suggestions on funding and governance reform
Shadow banking links leave EU banks vulnerable – ESRB paper
European banks are largely exposed to three types of shadow financial entity, study finds
Basel action needed before ‘regulatory cycle’ turns
Failure to reach a deal raises the risk of more entrenched protectionist positions