Blog: Financial regulation: Weekly update – FXStreet

Highlights

1. EBA updates the list of O-SIIs.

2. ECB issues its targeted review of internal models (TRIM).

3. European Commission adopts a delegated regulation on stay clauses under BRRD.

4. BCBS issues its work program and strategic priorities for 2021-2022.

5. BoE and HM Treasury issue a joint statement on Central Bank Digital Currency.

Global

BCBS issues its work program and strategic priorities for 2021-2022
Priorities include ongoing “Covid-19” initiatives, assessing emerging risks, vulnerabilities and structural trends to the global banking system, increasing supervisory cooperation and monitoring the implementation of Basel III.

Europe

EBA updates the list of O-SIIs
ist of banks identified as systemically important by the relevant authorities following the criteria from the EBA’s guidelines. Based on end-2019 data, reflects scores and the corresponding capital buffers that have been set.

ECB issues its targeted review of internal models (TRIM)
The review checks that banks comply with rules and implement internal models consistently, resulting in €275 bn (12%) increase in RWAs over the last three years. TRIM reduced non-risk-based variability of models’ output.

EC adopts delegated regulation on stay clauses under BRRD
It formally adopts the RTS under Art 71a BRRD 2, on the contractual recognition of stay powers. Entry into force: 20 days after publication in OJEU.

EIOPA issues an opinion on the supervision of climate change scenarios in the ORSA
It sets out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA). 

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