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BIS: Governors And Heads Of Supervision Meet To Endorse Strategic Priorities And Work Programme Of Basel Committee And Discuss Global Initiatives On Non-Bank Financial Intermediation

Date 31/03/2021

• The Basel Committee's oversight body endorses its strategic priorities and work programme for 2021–22.
• The programme prioritises implementing agreed reforms, assessing emerging risks and vulnerabilities, and increasing supervisory cooperation.
• Global initiatives on non-bank financial intermediation were also discussed.

S&P Dow Jones Indices: Europe Dashboard

Date 31/03/2021

• The S&P Europe 350® closed the first quarter of 2021 with a strongly positive total return, as a wide range of contributors helped the benchmark to a strong finish; every one of the benchmark’s sector and factor indices gained in March. 
• Energy was the best-performing S&P Europe 350 sector in Q1, but a resurgent Financials was close behind.  Real Estate and Utilities were the laggards. 
• The United Kingdom’s fixed income markets hosted a sale in the first quarter, with both nominal and inflation-linked bonds posting large declines.  

EBA Reviews Final Q&As Against Revised Legislation

Date 31/03/2021

The European Banking Authority (EBA) reviewed Q&As published in its Single Rulebook Q&A tool against the revised Capital Requirements Regulation (CRR), Capital Requirements Directive (CRD) and Bank Recovery and Resolution Directive (BRRD). The published Q&As were updated in line with the revised legal acts, and the outcome has been reflected in the Q&A tool. An overview of all the reviewed Q&As is available here.

BIS: Basel Committee Issues Principles For Operational Resilience And Risk

Date 31/03/2021

• Principles for operational resilience aim to increase banks' capacity to withstand disruptions due to potentially severe events.
• Revised principles on operational risk focus on change management and information and communication technologies (ICT).
• Covid-19 has made operational resilience and mitigating operational risk even more important.

EBA Launched Public Consultation On Regulatory Technical Standards On Disclosure Of Investment Policy By Investment Firms

Date 31/03/2021

• The draft technical standards specify the information that investment firms have to make public to show their influence over the companies in which they have voting rights.
• The standards put forward comparable disclosures and detailed instructions on investment firms’ voting rights, voting guidelines and voting behaviour.

The European Supervisory Authorities Issue A Report On The Application Of Their Guidelines On Complaints-Handling

Date 31/03/2021

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a Report on the application of their Guidelines on complaints-handling. The Report concludes that the Guidelines have contributed to a consistent approach to complaints-handling across the banking, insurance and securities sectors and have resulted in better outcomes for consumers.

EBA Points To A Rising Share Of Loans That Show A Significant Increase In Credit Risk (Stage 2 Loans)

Date 31/03/2021

• Capital and liquidity ratios increased further quarter-over-quarter (QoQ).
• While non-performing loans (NPLs) declined on average, the NPL ratio shows first signs of deterioration in exposures to sectors that are most affected by the COVID-19 crisis.
• The share of stage 2 loans rose across the board. The rise was particularly pronounced for loans still under moratoria.

BIS: An Empirical Foundation For Calibrating The G-SIB Surcharge

Date 31/03/2021

Summary

Focus

During the Great Financial Crisis (GFC) of 2007–09, policymakers intervened to prevent the failure of global systemically important banks (G-SIBs) and to alleviate turmoil in the financial system. Following the GFC, the Basel Committee on Banking Supervision (BCBS) introduced measures to reduce the likelihood and severity of a G-SIB failure in the future. Capital requirements corresponding to measures of systemic importance, along with other post-GFC reforms, increased the going-concern loss absorbency of G-SIBs and improved the resilience of the banking sector. The expected impact framework provides a theoretical foundation for these capital requirements based on systemic importance, which are often referred to as G-SIB surcharges. Our alternative implementation of the expected impact framework has the potential to improve the empirical basis of these surcharges and eliminate uneven incentives for G-SIB growth.

Anneli Tuominen To Act As Interim Chair Of ESMA

Date 31/03/2021

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has appointed Anneli Tuominen, current ESMA Vice-Chair and Director-General at the FIN-FSA, to act as Interim Chair until the next Chair takes office. This is effective from 1 April 2021. 

Cleantech Company Ekopak Lists On Euronext Brussels

Date 31/03/2021

Euronext today congratulates Ekopak, an ESG-driven water solution company, on its listing in Compartment B of Euronext’s regulated market in Brussels (ticker code: EKOP). Ekopak joins a franchise of 94 cleantech companies listed on Euronext markets, representing a cumulated market capitalisation of approx. €69 billion (as end of Feb. 2021).