In particular, the paper provides guidance on how the reporting of interest rate transactions executed under the 2006 Definitions will differ from the reporting of a transaction using the 2021 Definitions.
ISDA has published a new module of the ISDA Resolution Stay Jurisditional Modular Protocol (JMP) that will enable firms to comply with changes from the Bank Recovery and Resolution Directive (EU) 2019/879 (BRRD II) regarding the recognition of certain powers conferred on EU resolution authorities with respect to financial contracts governed by the laws of third countries.
The ISDA BRRD II Omnibus module covers jurisdictions that have transposed BRRD II into national law.
The 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.
In the exceptional case that an institution breaches the large exposure limits, the CRR requires the institution to report the value of the exposure without delay to the competent authority. Where the circumstances warrant it, the institution is granted a limited period of time to comply with such limits.
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.
The EBA published today 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.
The Guidelines require DGSs to stress test their ability to perform all the interventions allowed under their legal mandates, and to access all of their funding sources. The cooperation between DGSs and other authorities is also strengthened, by requiring DGSs to stress test scenarios where such cooperation is necessary. In addition, the new provisions encourage the DGSs to stress test scenarios with additional business continuity challenges, such as a pandemic, ICT failures or other similar events.
It also approved EUR 4.8 billion of new financing for 24 projects to support climate action, COVID vaccines and economic resilience, sustainable transport and education.
