UK: Key Regulatory Developments In The EU – December 2018

Last Updated: 17 January 2019
Article by Michael Huertas
Source/Date Brief description

EBA2

17/12/2018

EBA published final Guidelines on disclosure of non-performing and forborne exposures

The EBA published its final Guidelines on disclosure of non- performing and forborne exposures. For further information, click here.

BIS17

16/12/2018

BIS Quarterly Review

The BIS has published its Quarterly Review. For further information, click here.

European Commission5

13/12/2018

Commission published Draft Implementing Regulations supplementing SFTR and amending EMIR

Implementing Regulation laying down implementing technical standards with regard to the procedures and forms for exchange of information on sanctions, measures and investigations in accordance with Regulation (EU) 2015/2365. For further information, click here and here.

Implementing Regulation laying down implementing technical standards with regard to the format and frequency of reports on the details of securities financing transactions (SFTs) to trade repositories in accordance with Regulation (EU) 2015/2365 and amending Implementing Regulation (EU) No 1247/2012 with regard to the use of reporting codes in the reporting of derivative contracts. For further information, click here and here.

Implementing Regulation laying down implementing technical standards with regard to the format of applications for registration and extension of registration of trade repositories in accordance with Regulation (EU) 2015/2365. For further information, click here.

ESMA1

14/12/2018

ESMA published final report on the tick size regime

The ESMA has published its Final Report amending the tick size regime (Commission Delegated Regulation (EU) 2017/588 (RTS 11)). For further information, click here.

EBA2

14/12/2018

EBA published its annual report on risks and vulnerabilities in the EU banking sector

The EBA published its annual report on risks and vulnerabilities accompanied by the results of the EBA's 2018 EU-wide transparency exercise. For further information, click here.

ECB3

14/12/2018

ECB report on crisis communication exercise

The ECB has published a report on its UNITAS crisis communication exercise. For further information, click here.

SRB18

14/12/2018

Single Resolution Board published 2018 Conference Report

For further information, click here.

European Commission5

13/12/2018

Commission published Draft Delegated Regulations under SFTR relating to trade repositories

Delegated Regulation amending Delegated Regulation (EU) No 150/2013 as regards regulatory technical standards specifying the details of the application for registration as a trade repository. For further information, click here.

Delegated Regulation supplementing Regulation (EU) 2015/2365 of the European Parliament and of the Council with regard to regulatory technical standards specifying the details of the application for registration and extension of registration as a trade repository. For further information, click here.

Delegated Regulation supplementing Regulation (EU) 2015/2365 with regard to regulatory technical standards on the collection, verification, aggregation, comparison and publication of data on securities financing transactions (SFTs) by trade repositories. For further information, click here and here.

Delegated Regulation supplementing Regulation (EU) 2015/2365 of the European Parliament and of the Council with regard to fees charged by the European Securities and Markets Authority to trade repositories. For further information, click here and here.

Delegated Regulation supplementing Regulation (EU) 2015/2365 with regard to regulatory technical standards specifying the details of securities financing transactions (SFTs) to be reported to trade repositories. For further information, click here and here.

Delegated Regulation supplementing Regulation (EU) 2015/2365 with regard to regulatory technical standards on access to detail of securities financing transactions (SFTs) held in trade repositories. For further information, click here and here.

European Commission5

13/12/2018

Draft Delegated Regulation amending Delegated Regulation (EU) No 151/2013 with regard to access to the data held in trade repositories

For further information, click here.

European Commission5

13/12/2018

Draft Delegated Regulation amending Commission Delegated Regulation (EU) 2017/565 with regard to certain registration conditions to promote the use of SME growth markets for the purposes of Directive 2014/65/EU

For further information, click here.

EBA2

13/12/2018

EBA consults on guidelines on ICT and security risk management

The EBA launched a consultation on its draft Guidelines on ICT and security risk management. For further information, click here.

ESRB15

13/12/2018

ESRB published its risk dashboard

For further information, click here.

BCBS7

13/12/2018

Basel Committee consults on disclosure requirement to address leverage ratio window-dressing

The Basel Committee on Banking Supervision published a consultative document entitled Revisions to leverage ratio disclosure requirements. For further information, click here.

European Commission5

12/12/2018

Draft Delegated Regulation amending and correcting Delegated Regulation (EU) 2017/587 to specify the requirement for prices to reflect prevailing market conditions and to update and correct certain provisions

For further information, click here.

EBA2

12/12/2018

EBA published final guidelines on the STS criteria in securitisation

The EBA published its final Guidelines, which will provide a harmonised interpretation of the criteria for the securitisation to be eligible as simple, transparent and standardised (STS) on a cross-sectoral basis throughout the Union. For futher information, click here.

ECB3

11/12/2018

ECB Regulation amending Regulation on money market statistics

The ECB has published a Regulation amending Regulation (EU) No 1333/2014 concerning statistics on the money markets. For further information, click here.

EBA2

11/12/2018

EBA issued revised list of validation rules

The EBA issued a revised list of validation rules in its ITS on supervisory reporting highlighting those, which have been deactivated either for incorrectness or for triggering IT problems. For further information, click here.

EBA2

11/12/2018

EBA published an Opinion on the use of eIDAS certificates under PSD2

The EBA published an Opinion on the use of eIDAS certificates under the RTS on Strong Customer Authentication and Common and Secure Communication (SCA&CSC). For further information, click here.

ESMA1

11/12/2018

ESMA published the responses to its Consultation on stress testing guidelines for Money Market Funds

The ESMA has published the responses received to the Consultation Paper on draft guidelines on stress test scenarios under the MMF Regulation. For further information, click here.

BCBS7

11/12/2018

Basel Committee published updated Basel III disclosure requirements

The Basel Committee on Banking Supervision has published updated Pillar 3 disclosure requirements. These requirements, together with the updates published in January 2015 and March 2017, complete the Pillar 3 framework. For further information, click here.

European Commission5

05/12/2018

Commission launched evaluation of Distance Marketing of Financial Services Directive

The evaluation will assess whether the Directive is relevant, effective, efficient, and in line with other EU legislation. For further information, click here.

ESMA1

07/12/2018

MIFID II: ESMA issued latest double volume cap data

The ESMA has updated its public register with the latest set of double volume cap data under MiFID II. For further information, click here.

OJ of the EU

05/12/2018

Implementing Regulation (EU) 2018/1889 on the extension of the transitional periods related to own funds requirements for exposures to central counterparties set out in Regulations (EU) No 575/2013 and (EU) No 648/2012 -- published in OJ. Entry into force: 25/12/2018. For further information, click here.

European Commission5

05/12/2018

Brexit: European Commission begins procedure for the signature and conclusion of the agreement on the UK's withdrawal from the EU

Following the endorsement by the European Council (Article 50) on November 25, 2018 of the draft Withdrawal Agreement -- as completed at negotiator level on November 14, 2018 -- the European Commission has adopted two proposals for Council decisions -- on the conclusion and the signing of the Withdrawal Agreement. For further information, click here.

Council of the EU / European Parliament8

04/12/2018

Banking package: Parliament and Council reach an agreement

The European Parliament and the Council of the European Union reached a provisional political agreement on the banking package, a comprehensive set of reforms that the Commission proposed to further strengthen the resilience and the resolvability of EU banks. For further information, click here.

Council of the EU11

04/12/2018

Money laundering: Council adopted conclusions on an action plan for enhanced monitoring

The Council adopted conclusions on an action plan to better tackle money laundering and terrorist financing. For further information, click here.

ESMA1

03/12/2018

ESMA reports on annual market share of credit rating agencies

The ESMA has published its annual market share calculation for EU registered credit rating agencies (CRAs). For further information, click here.

EBA2

04/12/2018

EBA published final Guidelines on the exemption from the fall back mechanism under the RTS on SCA and CSC

The EBA published its final Guidelines on the conditions that account servicing payment service providers (ASPSPs) must meet in order to be exempted from the obligation to implement the fallback mechanism under the Regulation (EU) 2018/389 on strong customer authentication and common and secure communication (RTS on SCA&CSC). For further information, click here.

BCBS7

04/12/2018

Cyber-resilience: range of practices report issued by the Basel Committee

The BCBS published the report Cyber-resilience: range of practices. It identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions. For further information, click here.

Council of the EU11

03/12/2018

Capital markets union: Council agreed stance on supervision framework for clearing houses

EU member states reached a compromise position on how EU and third country clearing houses should be supervised in the future, taking in particular account of the effects of Brexit on the European financial system. For further information, click here.

ESMA1

03/12/2018

ESMA updated Q&As on EMIR implementation

The ESMA has published an Update of its Q&As on EMIR implementation. For further information, click here.

ECB3

03/12/2018

ECB adopted new capital key

The Governing Council of the ECB adopted legal acts on the regular five-yearly adjustment to its capital key and the contributions paid by the national central banks (NCBs) of the European Union. For further information, click here.

ECB3

03/12/2018

ECB published the cyber resilience oversight expectations

The ECB has published the final cyber resilience oversight expectations for financial market infrastructures (FMIs). For further information, click here.

EBA2

30/11/2018

EBA provided overview of Competent Authorities implementation and transposition of the CRD IV package

The EBA updated all the information disclosed by EU Competent Authorities according to its ITS on supervisory disclosure, which was published in the EU Official Journal on June 4, 2014. For further information, click here.

ESAs13

30/11/2018

ESAs published statement clarifying securitisation disclosure requirements and consolidated application of securitisation rules for credit institutions

The ESAs have published a statement in response to industry concerns relating to severe operational challenges both in meeting the transitional provisions of the Securitisation Regulation disclosure requirements, as well as in complying with the EU requirements on risk retention, transparency, re-securitization and criteria for credit-granting obligations on a consolidated basis by EU credit institutions engaged in local securitisation activities in third countries. For further information, click here.

ESAs13

29/11/2018

ESAs propose to amend bilateral margin requirements to assist Brexit preparations for OTC derivative contracts

The ESAs have published a final report with draft RTS proposing to amend the Commission Delegated Regulation on the risk mitigation techniques for OTC derivatives not cleared by a CCP (bilateral margin requirements) under the EMIR. For further information, click here.

ESMA1

29/11/2018

ESMA Risk Dashboard

The ESMA has issued the latest iteration of its Risk Dashboard covering risks in the EU’s securities markets for Q3 2018. For further information, click here.

European Commission5

29/11/2018

Draft Delegated Regulation supplementing the PSD2

Draft Delegated Regulation supplementing Directive (EU) 2015/2366 with regard to regulatory technical standards setting technical requirements on development, operation and maintenance of the electronic central register within the field of payment services and on access to the information contained therein. For further information, click here.

European Commission5

28/11/2018

Commission published draft Delegated Regulation supplementing the new Prospectus Regulation

Draft Delegated Regulation supplementing Regulation (EU) 2017/1129 with regard to format, content, scrutiny and approval of the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Commission Regulation (EC) No 809/2004. For further information, click here.

European Commission5

28/11/2018

Commission’s third progress report on the reduction of non-performing loans (NPLs) and further risk reduction in the Banking Union

For further information, click here and here.

FSB10

28/11/2018

FSB reported to G20 Leaders on progress in financial regulatory reforms

The FSB published its fourth annual report on the implementation and effects of the G20 financial regulatory reforms. For further information, click here.

OJ of the EU

26/11/2018

The EBA published 2018 EU-wide stress test results

Regulation (EU) 2018/1845 of the ECB on the exercise of the discretion under Article 178(2)(d) of Regulation (EU) No 575/2013 in relation to the threshold for assessing the materiality of credit obligations past due (ECB/2018/26) -- published in OJ. Entry into force: 16/12/2018. For further information, click here.

EBA2

21/11/2018

Draft handbook on valuation under BRRD

The EBA published a draft handbook on valuation for purposes of resolution under the BRRD. For further information, click here.

ESMA1

23/11/2018

Public Statement: Managing risks of a no-deal Brexit in the area of central clearing

The ESMA has published a Public Statement to address the risks of a no-deal Brexit scenario in the area of central clearing. For further information, click here.

BCBS7

23/11/2018

Report: Implementation of Basel standards

The BCBS published a report to G20 Leaders on implementation of the Basel III regulatory reforms. For further information, click here.

FSB10

23/11/2018

FSB published recommendations on compensation data reporting to address potential misconduct risk

The FSB published its finalized Recommendations for national supervisors: Reporting on the use of compensation tools to address potential misconduct risk. For further information, click here.

European Commission/ European Council/ European Parliament8

20/11/2018

Agreement reached on screening of foreign direct investment for EU security

EP trade negotiators agreed with Council and Commission on screening of incoming foreign direct investment to ensure security and public order. For further information, click here.

FSB10

20/11/2018

Final report on the Evaluation of the effects of financial regulatory reforms on infrastructure finance

The FSB published its final report on the Evaluation of the effects of financial regulatory reforms on infrastructure finance, following public consultation earlier this year. For further information, click here.

SRB18

20/11/2018

SRB, together with NRAs, published 2018 MREL Policy

The SRB, together with the Banking Union national resolution authorities (NRAs) published its 2018 policy statement on the minimum requirement for own funds and eligible liabilities (MREL), which serves as a basis for setting binding consolidated MREL targets for banks under the remit of the SRB pertaining to the first wave of resolution plans. For further information, click here.

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