Introduction On 29 September 2017, the European Banking Authority (EBA) published an opinion on the design of a new prudential framework for investment firms. The new regime will apply to all MiFID firms, including those that will be brought into scope by MiFID II. The EBA makes a total of 62 recommendations in the following […]

The EC yesterday adopted a Delegated Regulation supplementing the BRRD. The regulation contains a number of RTS in the following areas: Content of recovery and resolution plans. EBA final drafts published in July 2014 and December 2014 Article 6(8). Principles and minimum criteria for assessment of recovery and resolution plans. EBA final draft published in […]

Introduction On 3 July 2015 the European Banking Authority (EBA) published final “Draft Regulatory Technical Standards on the contractual recognition of write-down and conversion powers under Article 55(3) of Directive 2014/59/EU” (the BRRD). The requirement to include Write-Down Clauses In order to guard against the possibility that a third country court may not recognise the […]

Introduction On 6 March 2015, the European Banking Authority (EBA) published a consultation paper containing a “Draft Regulatory Standard on a minimum set of the information on financial contracts that should be contained in the detailed records” required by the Bank Recovery and Resolution Directive[1](BRRD). The consultation period closes on 6 June 2015 so as […]

Michel Barnier, EU  financial services chief, has published a letter to the EBA asking the watchdog to accelerate its investigation into “allowances”. Since the EU’s CRD IV clampdown on banker’s discretionary pay, limiting bonuses to a maximum of one year’s salary (x2 with board approval), there have been widespread press reports of allowance inflation. Stuart […]

On 5 August 2014, EBA published a Consultation Paper on the draft technical advice about the factors warranting an intervention on structured deposits. Intervention powers include prohibition or restriction on the marketing, distribution or sale of structured deposits. In its mandate letter, the Commission stressed the fact that the technical advice would need to closely align with […]

On 1 August 2014, EBA published its revised Q&A on supervisory reporting under CRR and CRD IV. The revision is mostly cosmetic. The references to the draft ITS on supervisory reporting are replaced with a reference to the corresponding ITS which was officially published on 28 June 2014 in the OJ. Before the ink even […]

The EBA has released the draft RTS on the content of resolution plans and resolvability assessment and a draft set of guidelines on measures to reduce impediments to resolution. Articles 10, 12 and 15 BRRD (Directive 2014/59/EU) mandate the EBA to draft RTS that impose common European standards, facilitating harmonisation between resolution authorities.  The draft […]

On 4 July 2014, EBA published the final draft RTS on the clearing members’ exposure to clients. The RTS addresses the minimum margin periods of risk (MPOR) that financial institutions acting as clearing members may use as input for the calculation of their capital requirements for exposure to clients. MPOR reflects the time period from […]