Bank regulation

• DBS was also a pioneer in French-speaking Africa by launching the first fully digital health insurance offering in Cameroon, in 2017.
• Vneuron is a software publisher specializing in digital experience and regulatory compliance.
• It is a recognized player in automating Know Your Customer (KYC) processes and delivering advanced anti-money laundering (AML) technologies.
• Vneuron is present in Europe, Africa and the Middle East through operations with more than 200 clients in 28 countries.

• Prior to joining Reference Point, Mr. Coen served as Secretary General of the Basel Committee on Banking Supervision.
• One of his most notable achievements was to lead the challenging design, development, negotiation and implementation of the post-global financial crisis banking standards, Basel III.
• "I feel at home with the Reference Point team that stands out for being hands-on and high-performing," said Bill Coen.
• Founded in 2002, Reference Point is a strategy, management and technology consulting firm focused on delivering impactful solutions for the financial services industry.

• Tookitakis Anti-Money Laundering Suite (AMLS) is an award-winning, end-to-end, machine learning solution with modules around transaction monitoring and names screening.
• Mr Abhishek Chatterjee, Founder & CEO, Tookitaki, said, Tookitaki continues to be a trusted partner of global banks to develop sustainable compliance programmes.
• It is a great opportunity for us to detect new and emerging financial crimes, help mitigate compliance risks and ensure banks and financial institutions are aligned to regulatory compliance requirements.
• Tookitaki AMLS is the industry's first AI-based enterprise AML analytics solution in production across transaction monitoring and screening processes with proven performance.

29 January 2021

• The European Banking Authority (EBA) launched today the 2021 EU-wide stress test and released the macroeconomic scenarios.
• Following the postponement of the 2020 exercise, due to the COVID-19 pandemic, this years EU-wide stress test will provide valuable input for assessing the resilience of the European banking sector.
• The EBA expects to publish the results of the exercise by 31 July 2021.

Key features of the exercise

• The exercise assesses the impact of an adverse macroeconomic scenario on the solvency of EU banks.
• The stress test allows supervisors to assess if banks capital buffers, which have been accumulated in recent years, are sufficient to cover losses and support the economy in stressed times.
• Moreover, the exercise fosters market discipline through the publication of consistent and granular data at a bank-by-bank level, which is crucial particularly at times of increased uncertainty in the markets.
• The results of the exercise are an input to the Supervisory Review and Evaluation Process (SREP).

Key elements of the scenarios

• The adverse scenario also reflects recent risk assessments by the EBA.
• A decline in economic growth and rising risk premia could further challenge debt sustainability in the public and private sectors across the EU.
• The adverse scenario is designed to ensure an adequate level of severity across all EU countries.
• Equity prices in global financial markets would fall by 50% in advanced economies and by 65% in emerging economies in the first year.
• The 2021 adverse scenario is very severe having in mind the weaker macroeconomic starting point in 2020 as a result of the severe pandemic-induced recession.

Notes for editors

• [1] The convention used in the calibration of adverse scenarios for EBA stress tests is one of no policy change.
• This means that neither monetary policy nor fiscal policy reactions are assumed under the adverse scenario over and above what is already embedded in the baseline scenario.