(Only in Italian)
Le Linee guida dell’EBA definiscono:
- i criteri di elaborazione e attuazione delle strategie per le NPE (Sezione 4);
- i presidi di governance e di gestione dei processi di NPE workout, nonché il monitoraggio e l’implementazione di strumenti di early warning (Sezione 5);
- le caratteristiche per l’erogazione di misure di concessione, gli approcci che le istituzioni devono seguire per la definizione delle policy di valutazione della qualità creditizia del debitore, nonché la definizione del processo di monitoraggio ed il confronto con altre modalità di workout (Sezione 6);
- i criteri di definizione di NPE, degli accantonamenti e degli stralci (Sezioni 7 e 8);
- i criteri per la valutazione e monitoraggio delle garanzie mobiliari e immobiliari, la definizione di presidi di governance, le regole per i periti ed i metodi di valutazione (Sezione 9);
- i criteri che le Competent Autorithies (CA) devono seguire nella valutazione SREP sul rischio di credito (Sezione 10).
Le Linee guida si rivolgono a tutti le banche Less Significant italiane (LSI) che dovrebbero applicarli su base individuale, sub-consolidata e consolidata.
IVASS has invited insurers to consult the FAQs of the European Commission concerning the sanctions adopted following Russia’s military aggression against Ukraine .
(Only in Italian)
The European Commission has launched a consultation on the digital euro.
The initiative aims to establish and regulate key aspects of the digital euro as a new form of central bank money, which could be issued by the European Central Bank alongside cash notes and coins.
In particular, the consultation concerns:
- Users’ needs and expectations for a digital euro;
- The digital euro’s role for the EU’s retail payments and the digital economy
- Making the digital euro available for retail use while continuing to safeguard the legal tender status of euro cash
- The digital euro’s impact on the financial sector and the financial stability
- Application of anti-money laundering and counter terrorist financing (AML-CFT) rules
- The privacy and data protection aspects
- International payments with a digital euro
The consultation will end on 14 June 2022.
The European Commission has launched a consultation on environmental, social, and governance (ESG) ratings and sustainability factors in credit ratings is an integral part of the renewed sustainable finance strategy adopted in July 2021.
ESG ratings generally assess the impact of environmental, social, and governance factors on a company and a company’s impact on the outside world. Credit ratings assess the creditworthiness of companies or financial instruments by providing an opinion on the risk of default of a company.
This consultation will help the Commission gain a better insight on the functioning of the market for ESG ratings, as well as better understand how credit rating agencies (CRAs) incorporate ESG risks in their creditworthiness assessment.
Responses from market participants will feed into an impact assessment that will evaluate whether a possible policy initiative on ESG ratings and on sustainability factors in credit ratings is needed.
The consultation will end on 6 June 2022.
Published in the Official Journal of European Union of 6 April 2022:
- the Commission Implementing Decision (EU) 2022/551 of 4 April 2022 amending Implementing Decision (EU) 2021/85 on the equivalence to the requirements of Regulation (EU) No 648/2012 of the European Parliament and of the Council of the regulatory framework of the United States of America for central counterparties that are authorised and supervised by the U.S. Securities and Exchange Commission (EMIR);
- the Commission Implementing Decision (EU) 2022/552 of 4 April 2022 determining that national securities exchanges of the United States of America that are registered with the Securities and Exchange Commission comply with legally binding requirements which are equivalent to the requirements laid down in Title III of Directive 2014/65/EU and are subject to effective supervision and enforcement.
This equivalence assessment is limited to the NSEs listed in the Annex of those Decisions and thus covers derivative instruments that are traded on those exchanges and cleared by the CCPs recognised by ESMA.
A new finding this year is that UCITS with an environmental, social and governance (ESG) strategy (including equity, bond and mixed funds) outperformed their non-ESG peers, and were also overall cheaper.
ESMA, in its response, recommends a set of measures for consideration that will support the EU objective of increasing the attractiveness of EU markets and reducing exposure to CCPs located outside the EU.
The recommendations include proposals to:
- increase the attractiveness of cleared EU markets, e.g. by expanding and facilitating entities clearing in the EU;
- improve the clearing obligation framework, e.g. by changing the reference from OTC to non-cleared derivatives in the clearing thresholds;
- incentivise EU clearing participants to reduce their exposures to UK CCPs;
- enhance the EU supervisory framework for CCPs; and
- mitigate risks remaining at UK CCPs;
EBA published today its final Report on the amendment of its Regulatory technical standards (RTS) on strong customer authentication and secure communication (SCA&CSC) under the Payment Services Directive (PSD2).
The changes introduce a new mandatory exemption to SCA that will require account providers not to apply SCA when customers use an account information service provider (AISP) to access their payment account information, provided certain conditions are met.
Following a public consultation that has attracted more than 1,200 responses, as well as an extensive analysis of such feedback, the EBA has introduced some changes to the draft amending RTS, while retaining the mandatory exemption and the extension of the frequency for the renewal of SCA from every 90 days to every 180 days proposed in the Consultation Paper.
