Topic: European Central Bank

ECB climate stress test reveals “deficiencies, data gaps and inconsistencies”

A majority of supervised EU banks have not addressed climate risk sufficiently in their long term risk management strategies, the European Central Bank has said following its annual climate risk stress test.

13 July 2022

EU pilots crypto regulatory exemption regime

After a two-year legislative process, the European Union has finally piloted an “out of character” EU-wide sandbox that will grant some crypto firms “momentous” regulatory exemptions.

08 June 2022

SocGen sells Russian arm to oligarch-owned Interros

French bank Société Générale will sell its banking activities in Russia back to Interros, a holding company controlled by Russian billionaire Vladimir Potanin, the latest in a stream of international banks to exit the country.

14 April 2022

ECB finalises discretions approach

The European Central Bank has finalised its rules on how regulators should exercise the more than 100 supervisory options and discretions granted them under the CRR II-CRD V legislative package.

30 March 2022

RCB exits banking following Russian invasion

Cyprus-based RCB, until recently part-owned by Russia’s VTB, is planning to wind down its operations, the first European bank with Russian links to make the voluntary move since Russia’s invasion of Ukraine.

24 March 2022

“White noise and no real substance”: ECB’s Elderson criticises banks’ climate-risk disclosures

Frank Elderson, vice-chair of the ECB supervisory board, has criticised banks for “issuing a great volume of information” around green topics to compensate for the “poor quality” of their climate-related and environmental disclosures.

17 March 2022

Sberbank Europe “failing or likely to fail”, ECB says

The European Central Bank has warned Sberbank Europe is “failing or likely to fail”, following deposit outflows prompted by Russia’s invasion of Ukraine.

01 March 2022

EU’s top court throws out Banco Popular bondholders appeal

The European Court of Justice has dismissed appeals from two former Banco Popular bondholders, who queried the EU resolution authority’s decision not to order a final independent valuation of the Spanish lender before its resolution in 2017.

19 January 2022

New OCC climate rules could prove “too prescriptive”, practitioners say

The OCC has laid out a draft framework for major banks to address climate risk, with practitioners saying there is concern it is “not tailored to the risks” faced by a particular bank.

20 December 2021

Banks have “no plans for concrete action” on climate, says ECB’s Elderson

The European Central Bank has published its first climate assessment of banks in the bloc, with one board member saying they “haven’t even attempted to analyse the impacts of climate risk on their business at all”.

22 November 2021

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