Region: European Union

Sanction banks standing in the way of PSD2 success, EBA says

The European Banking Authority has told national regulators to take supervisory measures against banks that fail to remove obstacles to open banking under the second Payments Services Directive.

24 February 2021

EU banking associations call for Basel III flexibility to address pandemic fallout

Banking associations in Germany and Italy have called for EU regulators to tweak the insolvency framework and delay Basel III implementation, to allow banks to address the fallout from the covid-19 pandemic.

17 February 2021

PRA breaks from EBA approach to software assets

The UK’s Prudential Regulation Authority has proposed requiring all intangible assets to be fully deducted from CET1 capital under newly-proposed capital requirements – its first significant divergence from its EU counterparts since Brexit.

16 February 2021

ECB “nervous” over banks using capital buffers, conference told

The Single Supervisory Mechanism is not ready for EU banks to use their capital buffers, and needs to provide clarity on when they can dip into them, a key figure at a major European bank has told the European Banking Institute’s annual banking regulation conference.

16 February 2021

Market “woefully unprepared” for SFDR with one month to go

EU regulators have published the final details for the Sustainable Finance Disclosure Regulation set to take effect next month, even as one practitioner says the market is “woefully unprepared” for its effects.

12 February 2021

ESMA should regulate crypto, AMF chair says

The chair of France’s principal financial regulator has called on the European Securities and Markets Authority to take charge of the regulation of crypto-assets under forthcoming EU legislation regulating the sector.

09 February 2021

EU Court rejects Latvian bank’s SRF repayment request

Latvian bank ABLV, whose licence was withdrawn in 2018 after US regulators designated it “of primary money laundering concern” over transactions allegedly linked to North Korea’s weapons programme, has lost its fight for its Single Resolution Fund contributions for that year to be repaid.

27 January 2021

Brexit “done”, but equivalence remains to be seen

The UK has completed its transition out of the European Union after agreeing a deal that excludes financial services – but it faces a challenge persuading the EU that equivalence doesn’t require “line by line” similarity with EU standards.

05 January 2021

Regulators dial back dividend and buyback restrictions

US, UK and Australian regulators are dialling back calls for dividend and buyback restrictions issued at the outset of the covid-19 pandemic – while the European Central Bank has revised its outright suspension even as it encourages banks to continue forgoing distributions until September.

21 December 2020

EU opens CSDR buy-in regime to the floor

The European Commission has opened the door to amending its central securities depository regulation (CSDR), following industry criticisms over a controversial rule implementing mandatory buy-ins and cash penalties for settlement failures.

09 December 2020

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