Banca d’Italia will participate in the Bank for International Settlements Innovation Hub (BISIH) Nexus Project to carry out an experimental proof of concept for connecting instant payments systems.

Tests will be conducted on the pan-European platform TIPS (TARGET Instant Payment Settlement), created and operated by Banca d’Italia on behalf of the Eurosystem; these tests are designed to make instant payments towards similar systems managed by the Malaysian Central Bank and the Monetary Authority of Singapore.

The experiment will close on October 31 2022.

(Only in Italian)

In relazione allo sviluppo del mercato delle cartolarizzazioni sui crediti, la Banca d’Italia ha inviato ai servicers bancari e finanziari una comunicazione nella quale sono stati richiamati i profili di attenzione che connotano il comparto e sono state formulate raccomandazioni sui presìdi da adottare nell’attività di servicing.

È stata inoltre avviata una raccolta di informazioni sulle operazioni di cartolarizzazione gestite.

EBA has published the final proposal for implementing technical standards (ITS) on Pillar 3 disclosure of interest rate risk exposures on positions not held in the trading book (IRRBB).

The proposal contains qualitative information on how institutions calculate their IRRBB exposure values, based on their internal measurement systems, as well as information on the objective and management of IRRBB.

The purpose of the ITS is to present comparable information for institutions’ IRRBB risk disclosures with regard to the calculation of IRRBB exposure values and the impact of interest rate changes on the economic value of the net assets of the institutions concerned.

EBA published today a discussion paper on machine learning used in the context of internal ratings-based (IRB) models to calculate regulatory capital for credit risk.

This discussion paper seeks stakeholders’ feedback on many practical aspects related to the use of machine learning in the context of IRB with the aim of providing clarity on supervisory expectations on their use. The aim of the paper is to set supervisory expectations on how new sophisticated machine learning models can coexist with and adhere to the Capital Requirements Regulation (CRR) when used in the context of IRB models.

The consultation runs until 11 February 2022.

ESMA has published a Final Report on technical standards (RTS and ITS) under the Crowdfunding Regulation (ECSPR).

The report cover all investor protection aspects under the ECSPR, namely:

• Complaints handling;
• Conflict of interest;
• Business continuity plan;
• Authorisation;
• Information on default rate;
• Entry knowledge test and simulation of the ability to bear loss;
• Key investment information sheet;
• Cooperation between competent authorities;
• Reporting;
• Notification to ESMA of national provisions concerning marketing requirements;
• Cooperation between competent authorities; and
• Cooperation between competent authorities and ESMA.

The draft technical standards have been submitted to the European Commission which will start the endorsement process.