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  • EBA: Consultation On Draft Guidelines On Outsourcing (EBA/CP/2018/11)

    Date 22/06/2018

    The European Banking Authority (EBA) launched today a public consultation on its draft Guidelines on outsourcing. These Guidelines, which review the existing CEBS Guidelines on outsourcing published in 2006, aim at establishing a more harmonised framework for outsourcing arrangements of all financial institutions in the scope of the EBA’s action. The draft Guidelines provide a clear definition of outsourcing and specify the criteria to assess whether or not an outsourced activity, service, process or function (or part of it) is critical or important.  In particular, the revised Guidelines cover credit institutions and investment firms subject to the Capital Requirements Directive (CRD), but also payment institutions subject to the revised Payment Services Directive (PSD2) and electronic money institutions subject to the e-money Directive. The consultation runs until 24 September 2018.

  • ESMA Clarifies CCPs Liquidity Risk Assessment Under EMIR

    Date 22/06/2018

    The European Securities and Markets Authority (ESMA) has published today an opinion which sets out how central counterparties (CCPs) in the EU should consider in their internal risk models the liquidity risk posed by all entities towards which the CCP has a liquidity exposure, such as liquidity providers. 

  • EBA Consults On Guidelines On Outsourcing

    Date 22/06/2018

    The European Banking Authority (EBA) launched today a public consultation on its draft Guidelines on outsourcing. These Guidelines, which review the existing CEBS Guidelines on outsourcing published in 2006, aim at establishing a more harmonised framework for outsourcing arrangements of all financial institutions in the scope of the EBA's action. The draft Guidelines provide a clear definition of outsourcing and specify the criteria to assess whether or not an outsourced activity, service, process or function (or part of it) is critical or important. In particular, the revised Guidelines cover credit institutions and investment firms subject to the Capital Requirements Directive (CRD), but also payment institutions subject to the revised Payment Services Directive (PSD2) and electronic money institutions subject to the e-money Directive. The consultation runs until 24 September 2018.

  • Brown Rudnick Alert: UK And EU Brexit Transition Deal

    Date 22/06/2018

  • EBA Adds PSD2 To Its Online Interactive Single Rulebook And Q&A Tools

    Date 22/06/2018

    The European Banking Authority (EBA) has updated its online Interactive Single Rulebook and Q&A tool with the inclusion of the Payment Services Directive (PSD2).