European Banking Authority

The EBA consults on draft Guidelines on recovery plans for issuers of asset-referenced tokens and e-money tokens under MiCAR

Retrieved on: 
Thursday, November 9, 2023
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08 November 2023

Key Points: 
  • 08 November 2023
    The European Banking Authority (EBA) today launched a consultation on draft Guidelines on recovery plans to be drafted by issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs).
  • These draft Guidelines set out the requirements with respect to the format of the recovery plans and the information to be included therein.
  • This consultation together with other consultations papers published today form part of the third batch of MiCAR policy products.
  • Supervision tasks are conferred on the EBA for ARTs and EMTs that are determined by the EBA to be significant.

The EBA consults on the reporting of transactions with asset-referenced tokens and e-money tokens denominated in a non-EU currency under MiCAR

Retrieved on: 
Thursday, November 9, 2023
Crypto, ITS, Policy, Mutatis mutandis, The, Emergency medical technician, Article, Market, ART, RTS, European, EMT, European Banking Authority, CASP, EBA, Cryptocurrency, Security (finance), EU

In addition, the EBA also consulted on draft Implementing Technical Standards (ITS) specifying the related reporting requirements under MiCAR.

Key Points: 
  • In addition, the EBA also consulted on draft Implementing Technical Standards (ITS) specifying the related reporting requirements under MiCAR.
  • These consultations together with other consultations papers published today form part of the third batch of MiCAR policy products.
  • The draft ITS, in turn, provide specific templates and related instructions for the issuers of ARTs and of EMTs denominated in a non-EU currency to comply with their reporting obligations.
  • In accordance with Article 58(3) of MiCAR, these RTS and ITS shall also apply mutatis mutandis to EMTs denominated in a non-EU currency.

The EBA consults on draft technical standards on supervisory colleges under MiCAR

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Thursday, November 9, 2023
Crypto, Policy, European Securities and Markets Authority, The, Emergency medical technician, CEST, Exercise, European Central Bank, Central bank, ART, RTS, European, EMT, Adoption, European Banking Authority, Article, EBA, Cryptocurrency, EU

The draft RTS also specify the general conditions for the functioning of supervisory colleges under MiCAR.

Key Points: 
  • The draft RTS also specify the general conditions for the functioning of supervisory colleges under MiCAR.
  • This consultation together with other consultations papers published today form part of the third batch of MiCAR policy products.
  • Article 119(1) of MiCAR requires the EBA to establish, manage and chair a consultative supervisory college for each issuer of a significant ART or of a significant EMT.
  • The role of supervisory colleges under MiCAR is to facilitate the exercise of the EBA’s supervisory tasks under MiCAR and to facilitate the cooperation and exchange of information among its members.

EBA consults on Guidelines on complaints handling by credit servicers

Retrieved on: 
Thursday, November 9, 2023
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09 November 2023

Key Points: 
  • 09 November 2023
    The European Banking Authority (EBA) today launched a public consultation on its draft Guidelines on complaints handling by credit servicers under the Credit Servicers Directive (CSD).
  • The proposed Guidelines suggest applying to credit servicers the requirements of the existing Joint Committee Guidelines on complaints-handling.
  • Those requirements include complaints management policy, complaints management function, registration, reporting, internal follow-up, provision of information and procedures for responding to complaints.
  • The draft Guidelines are addressed to competent authorities and specify the requirements credit servicers should comply with when establishing and maintaining effective and transparent procedures for complaints handling from borrowers.

EBA and ESMA consult on two sets of joint guidelines under MiCA

Retrieved on: 
Thursday, November 9, 2023
Knowledge, European Securities and Markets Authority, Financial Services and Markets Authority (Belgium), Mica, Person, The, Trust, Comment, European, Risk, European Banking Authority, CASP, ESMA, Article, EBA, Real estate, Cryptocurrency, Security (finance)

EBA and ESMA consult on two sets of joint guidelines under MiCA

Key Points: 
  • EBA and ESMA consult on two sets of joint guidelines under MiCA
    The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) today published a Consultation Paper on two draft Joint Guidelines covering suitability assessment of members of the management body, and suitability of shareholders and members with qualifying holdings of issuers of asset referenced tokens (ARTs) and of crypto-asset service provider (CASPs).
  • Consultation process
    Comments to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page.
  • The EBA will inform ESMA of all the comments received.
  • All received contributions will be published at the end of the consultation, unless requested otherwise.

European Supervisory Authorities publish joint criteria on the independence of supervisory authorities

Retrieved on: 
Thursday, November 9, 2023
Review, European Insurance and Occupational Pensions Authority, European Securities and Markets Authority, European Banking Authority, ESMA, EBA, Accountability, Supervision, EIOPA, Government, Pension, Pension fund, Property management, European, EU

European Supervisory Authorities publish joint criteria on the independence of supervisory authorities

Key Points: 
  • European Supervisory Authorities publish joint criteria on the independence of supervisory authorities
    The three European Supervisory Authorities– the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority (ESMA) (EBA, EIOPA and ESMA – the ESAs) – today published their joint criteria on the independence of supervisory authorities.
  • Supervisory independence is key to ensure that fair, effective and transparent decisions are taken by appropriately resourced supervisory authorities.
  • Building on these reports and based on the 2021 EIOPA’s criteria and international standards, the ESAs further worked together to issue joint criteria on the independence of supervisory authorities.
  • Next steps
    The criteria can be used by supervisory authorities as a tool to enhance their independence and, at a later stage, by the ESAs to assess supervisory independence in the EU.

Empowering Financial Service Firms: RegGenome's Content Retrieval Service to Tackle Regulatory Challenges

Retrieved on: 
Thursday, November 9, 2023
Regulatory technology, Heart, Emergency Medical Retrieval Service, Risk management, European, Risk, Risk assessment, Financial Stability Board, European Banking Authority, Finance, FIS, Automation, Bank, Medical device

"The regulatory landscape is evolving rapidly and becoming more complex to manage. Organisations are responding by adopting machine-based processes to help manage risk, which is driving demand for machine-readable and consumable forms of regulatory information. At RegGenome, we are committed to leading the way in transforming how regulatory information is produced and consumed, working with both regulated firms and regulatory authorities to create composable regulatory information that can enable efficient compliance and risk management in the next generation of financial market infrastructure." -- Robert Wardrop, Chief Executive Officer

Key Points: 
  • Failing to meet regulatory obligations poses a host of challenges that can impact operational, financial, and reputational risks.
  • -- Robert Wardrop, Chief Executive Officer
    RegGenome's Content Retrieval Service is powered by machine readable Reg-Genome data, providing a single source of regulatory content.
  • This data enables regulatory research and supports change management, impact assessment, regulatory comparison, regulatory insights, and the automation of regulatory activities.
  • -- Mark Johnston, Chief Operating Officer
    For more information about RegGenome and its Content Retrieval Service, please visit www.reg-genome.com

Empowering Financial Service Firms: RegGenome's Content Retrieval Service to Tackle Regulatory Challenges

Retrieved on: 
Thursday, November 9, 2023
Regulatory technology, Heart, Emergency Medical Retrieval Service, Risk management, European, Risk, Risk assessment, Financial Stability Board, European Banking Authority, Finance, FIS, Automation, Bank, Medical device

"The regulatory landscape is evolving rapidly and becoming more complex to manage. Organisations are responding by adopting machine-based processes to help manage risk, which is driving demand for machine-readable and consumable forms of regulatory information. At RegGenome, we are committed to leading the way in transforming how regulatory information is produced and consumed, working with both regulated firms and regulatory authorities to create composable regulatory information that can enable efficient compliance and risk management in the next generation of financial market infrastructure." -- Robert Wardrop, Chief Executive Officer

Key Points: 
  • Failing to meet regulatory obligations poses a host of challenges that can impact operational, financial, and reputational risks.
  • -- Robert Wardrop, Chief Executive Officer
    RegGenome's Content Retrieval Service is powered by machine readable Reg-Genome data, providing a single source of regulatory content.
  • This data enables regulatory research and supports change management, impact assessment, regulatory comparison, regulatory insights, and the automation of regulatory activities.
  • -- Mark Johnston, Chief Operating Officer
    For more information about RegGenome and its Content Retrieval Service, please visit www.reg-genome.com

The EBA publishes 2023 list of third country groups and third country branches operating in the EU/EEA

Retrieved on: 
Tuesday, October 17, 2023
European, Chris Gethard, IPU, European Banking Authority, European Economic Area, EUR, Capital Requirements Directives, Single Supervisory Mechanism, CRD, Exercise, EEA, EBA, Ownership, Real estate, Union, EU

The EBA publishes 2023 list of third country groups and third country branches operating in the EU/EEA

Key Points: 
  • The EBA publishes 2023 list of third country groups and third country branches operating in the EU/EEA
    04 October 2023
    The European Banking Authority (EBA) published today the updated list of all third country groups (TCGs) with intermediate EU parent undertakings IPU(s), where applicable, and the list of all third country branches (TCBs) operating in the European Union and European Economic Area (EU/EEA).
  • This publication ensures that market participants have clarity on the direct ownership of the involved institutions.
  • In the course of the 2023 exercise, 461 TCGs from 47 third countries have been identified as operational in the EU/EEA.
  • Moreover, 65 TCGs have branches in the EU/EEA with a total of 105 third country branches of credit institutions operating in the EU/EEA.

EU/EEA banks: benefits from rising interest rates are stabilising, the EBA says

Retrieved on: 
Tuesday, October 17, 2023
III, European Commission, Income, European Banking Authority, European Economic Area, Roe, ICT, AML, NIM, LCR, Tax, Risk, Growth, NPL, EBA, Quarter, EU, RDB, Bank, Security (finance), Cryptocurrency, European

EU/EEA banks: benefits from rising interest rates are stabilising, the EBA says

Key Points: 
  • EU/EEA banks: benefits from rising interest rates are stabilising, the EBA says
    10 October 2023
    The European Banking Authority (EBA) today published its Q2 2023 quarterly Risk Dashboard (RDB).
  • The less positive growth outlook for China creates additional risks for the European economy.
  • - The European Union and European Economic Area (EU/EEA) banks maintained robust capitalisation levels in the second quarter.
  • Banks’ net interest margin (NIM) increased further, yet the quarterly growth rate was slower than in previous quarters.