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  • EBA Updates On Remuneration Practices And The Use Of Allowances Across The EU

    Date 12/11/2015

    The European Banking Authority (EBA) published today a follow up report on the actions taken following the publication of its Opinion on the use of allowances, in October 2014, where Competent Authorities were asked to use all necessary supervisory measures to ensure that by 31 December 2014 those institutions using the so called ‘role-based allowances' adjust their remuneration policies in line with the criteria set out in the Opinion.  The follow-up report concluded that Competent Authorities have taken measures in this respect and, where necessary, asked institutions to implement the necessary changes. However, such measures will, in most cases, only be effective for the remuneration awarded for the performance year 2015, while only in few cases were changes to institutions' remuneration policies and practices already made for the performance year 2014.

  • SIFMA Asset Management Group Statement On The ISDA 2015 Universal Resolution Stay Protocol

    Date 12/11/2015

    SIFMA’s Asset Management Group today released a statement from Laura Martin, managing director and associate general counsel, after the announcement of the expanded ISDA 2015 Universal Resolution Stay Protocol (“Protocol”), a standardized approach for banks to comply with prudential regulatory initiatives relating to cross-border contracts:  

  • Tel Aviv Stock Exchange Trading Summary: November 8 - 12, 2015

    Date 12/11/2015

    • Trading on the Tel Aviv Stock Exchange (TASE) during the second week of November was marked by a mix trend in the leading shares indices; 
    • The US biomed company "Celsion" - whose shares are traded on the NASDAQ, listed its shares for trading on the TASE;  
    • Continued offerings in the bond market 

  • EBA Consults On Draft Guidelines On The Treatment Of CVA Risk Under SREP

    Date 12/11/2015

    The European Banking Authority (EBA) launched today a public consultation on Guidelines on the treatment of credit value adjustment (CVA) risk under the supervisory review and evaluation process (SREP), as well as a data collection exercise for the Quantitative Impact Study (QIS) to calibrate the threshold values. These Guidelines are based on a policy recommendation contained in the EBA's CVA report and aim to provide a common European approach to the assessment of CVA risk under SREP, including adequacy of capital to cover for this risk, and the determination of any potential  additional own funds requirements. The public consultation runs until 12 February 2016 and the data collection exercise should be completed on 28 January 2016.

  • EBA Publishes Benchmarking Report On The Use Of Higher Ratios For Variable Remuneration

    Date 12/11/2015

    The European Banking Authority (EBA) published today a report benchmarking the institutions' remuneration practices concerning the use of the possibility to increase the maximum ratio between variable and fixed remuneration up to 200%. The Capital Requirements Directive (CRDIV) limits the aforementioned ratio to 100%, unless it is increased following the shareholders' approval. The report also shows that nearly all Member States have allowed for the possibility to increase the ratio between the two remuneration components to 200% but only institutions in 15 Member States have actually made use of this possibility.