EBA
Publishes final guidance to assess breaches of the large exposure limits
15 September 2021
The European Banking Authority ("EBA") published its final Guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures to return to compliance. The Guidelines aim to support competent authorities in their assessment of the breaches of the large exposure limits set in the Capital Requirements Regulation ("CRR"), and ensure the Regulation is applied in a prudent and harmonised manner - while keeping the approach simple - which ultimately, leads to a level playing field across the Single Market. For more information please press here.
EBA
Publishes revised guidelines on the stress tests of deposit guarantee schemes ("DGSs")
15 September 2021
The EBA published its revised Guidelines on the stress tests conducted by national DGSs under the Deposit Guarantee Schemes Directive ("DGSD"). The revised Guidelines extend the scope of the DGS stress testing, by requiring more tests in comparison with the past Guidelines and by covering all the legal missions entrusted to the DGSs. The revisions aim to consolidate depositors’ confidence about the ability of their national DGS(s) to promptly repay their funds in case of banking failure. The revised framework also strives to achieve greater harmonisation and comparability of stress test results, which will enable the EBA to carry out a robust peer review of national DGS stress tests in 2025. For more information please press here.
EIOPA
Publishes the criteria for the independence of supervisory authorities
13 September 2021
The European Insurance and Occupational Pensions Authority ("EIOPA") published its criteria for assessing the independence of supervisory authorities. The independence of supervisory authorities is crucial for the legitimacy and credibility of the supervisory process. For public bodies, independence and good governance are necessary to avoid possible conflicts of interest and to reduce the likelihood of undue external influence on supervisory decisions. For more information please press here.
Market News
Bloomberg Top China Forecaster Sees GDP Growth Near Zero in Third Quarter
17 September 2021
"China’s tough virus curbs mean economic activity in the third quarter could be close to flat compared with the previous three months, while full-year growth may fall below 8%, a top forecaster said." For more information please press here.
Bloomberg Professional Life after pandemic QE in Europe
16 September 2021
"Higher yields and wider spreads could result after ECB chief economist Philip Lane’s vision of life after pandemic QE — a bitesized program subject to rules which could constrain its ability to act in several states, most notably Germany — sparked last week’s selloff. A fudge seems likely, but even then higher yields could follow." For more information please press here.
Reuters Asian shares stabilise but global growth fears nag
16 September 2021
"Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and global growth concerns weighed on investors' minds, while the dollar sat near a three-week high." For more information please press here.
Cryptocurrencies
Bloomberg Bitcoin’s Decline Could Lead to a Test of Major Support
14 September 2021
"Consolidation after last week’s flash crash has brought Bitcoin to a potentially key test. The largest cryptocurrency’s Monday low of $43,446 touched the upper border of its bullish Ichimoku cloud, an area indicating support. The price action has also generated a “spinning top” candle, a pattern which represents indecision, so follow through price action will be key to see whether bulls or bears have the upper hand." For more information please press here.
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR.
