EU & UK Reg Round Up: 06/03/2024
European Banking Authority
EBA are consulting on amendments to implement the Basel III reforms - 20 February 2024
The EBA have launched two public consultations on two draft ITS, one for amending Pillar 3 disclosures and supervisory reporting requirements for operational risk. The proposed amendments align with the new CRR3 reporting and disclosure requirements, which are connected to the calculation of the own fund requirements for operational risk.
EBA consults on the new framework for the business indicator for operational risk - 20 February 2024
The EBA is consulting on two draft RTS and a ITS to define the business indicator for operational risk capital requirements calculation, aligning it with the financial reporting standards and Basel III reforms. The draft will shed light on the typical business indicator items, and how they map to FINREP, along with how to deal with adjustments to specific operations, such as disposals.
EBA today publish final guidelines on national lists or registers of credit services - 05 March 2024
According to Article 9 (1) Directive 2021/2167, the competent authorities of each member state need to establish and maintain a list or a national register, of all credit services authorised to provide services in the member states. This list is now available 24/7, on the website of the competent authority.
EBA consults on draft technical standards for off-balance sheet items - 04 March 2024
Under the standardised approach for credit risk, the exposure value of off-balance sheet exposures depends on certain percentages depending on the bucket classification. The CRR3 will now introduce amendments to update the applicable percentages, which includes the introduction of an adjusted weighting scheme and an additional bucket, increasing the risk buckets from 4 to 5, and conversion factor possibilities to 10%,20%,30%,40%,50%,100%.
European Securities and Markets Authority
ESMA have published the annual transparency calculations for equity and equity like instruments - 01 March 2024
The study finds that there are 1,193 liquid shares and 914 liquid equity like instruments other than shares, which meet the MiFID II/ MiFIR transparency requirements. The full list of assessed products can be find through XML file provided on the ESMA FITRS website.
Bank of England
BoE levy advances in parliamentary process and approaching final stages - 28 February 2024
On February 20 and 27, respectively, the House of Commons and House of Lords approved the BoE Levy (Amount of Levy Payable) regulation, subject to passing the final stages of the Parliamentary approval process (expected to come into force March 1st). The Bank is already preparing to return Cash Ratio Deposits (CRD) to eligible institutions on the 5th of March.
New banknotes are to be circulated - 21 February 2024
Banknotes with the portrait of King Charles III will be issued for the first time on the 5th of June 2024, the portrait of the King will appear on all four banknotes, but no other design to existing design will take place. Banknotes with the portrait of Her late Majesty will remain legal tender.