ESMA has published its Report containing the assessment of ESMA’s staffing and resources needs arising from the assumption of powers and duties in accordance with the new MiFIR regime for third-country firms.
EIOPA published its annual Report on the use of capital add-ons during 2019.
The objective of the capital add-on measure is ensure that the regulatory capital requirements reflect the risk profile of the undertaking or of the group. Therefore, it is important that it is used by national competent authorities (NCAs) when needed and it is also important to ensure a high degree of supervisory convergence.
Tuesday 26 January, G20 Members agreed to establish a High Level Independent Panel (HLIP) on financing the global commons for pandemic preparedness and response. The decision was taken by the membership at the first G20 Finance and Central Bank Deputies meetings.
ECB announces supervisory priorities and assessment of risks and vulnerabilities for 2021
The supervisory priorities for 2021 draw on an assessment of the key risks and vulnerabilities in the banking sector. Uncertainty about the ultimate depth and breadth of the overall impact of the pandemic remains high in the short to medium term.
Against this background, ECB Banking Supervision will be focusing its upcoming supervisory efforts on four priority areas that have been materially affected by the current crisis. The four priority areas for 2021 are:
- credit risk management;
- capital strength;
- business model sustainability;
- governance.
In addition, further supervisory activities related to other medium and longer-term structural risks to European banks, beyond the impact of the COVID-19 pandemic, will be carried out in 2021. Supervisors will also focus on banks’ alignment with expectations set out in the ECB Guide on climate-related and environmental risks, prudential risks emanating from money laundering, cyber and digitalisation risks and banks’ preparedness for the final stages of the implementation of Basel III.
EU Commission – Targeted consultation on the establishment of a European single access point for financial and non-financial information publicly disclosed by companies
The EU legislation in the financial services area requires companies to publish several hundreds of documents, particulars and datasets in order to increase the transparency and reduce asymmetry of information. These datasets may have regard to e.g. an entity’s financial performance, environmental, social or governance matters, products and services provided. The purpose of this targeted questionnaire is to seek general and technical views on the way to establish a European single access point (ESAP) for companies’ financial and sustainable investment-related information made public pursuant to EU legislation.
The establishment of the ESAP is the first action in the Commission’s new action plan on the capital markets union (CMU).
The consultation will run until 3 March 2021.
(Only in Italian)
Banca d’Italia, con Comunicazione del 27 gennaio 2021, ha integrato le disposizioni del Provvedimento “Il bilancio degli intermediari IFRS diversi dagli intermediari bancari”.
Le disposizioni forniscono informazioni al mercato sugli effetti che il Covid-19 e le misure di sostegno all’economia hanno prodotto sulle strategie, gli obiettivi e le politiche di gestione dei rischi, nonché sulla situazione economico-patrimoniale degli intermediari, tenuto conto, ove possibile, dei documenti pubblicati negli ultimi mesi dagli organismi regolamentari e di vigilanza europei e dagli standard setter volti a chiarire le modalità di applicazione degli IAS/IFRS nell’attuale contesto.
Vengono infine apportate ulteriori modifiche per tenere conto delle nuove richieste informative previste dall’IFRS 7 in relazione alla riforma degli indici di riferimento per la determinazione dei tassi di interesse.
Le disposizioni si applicano a partire dai bilanci chiusi o in corso al 31 dicembre 2020.
