EBA consults on Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes

The European Banking Authority (EBA) today launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes. These ‘travel rule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets. They also detail the procedures all these providers should put in place to manage a transfer of funds or a transfer of crypto-assets that lacks the required information. These Guidelines aim at forging a common understanding to ensure the consistent application of EU law as well as a stronger anti-money laundering and countering the financing of terrorism (AML/CFT) regime. The consultation runs until 26 February 2024.

The EBA publishes final standards for Supervisors assessing new market risk internal models

The European Banking Authority (EBA) today published its final draft Regulatory Technical Standards (RTS) on the assessment methodology under which competent authorities verify institutions’ compliance with the requirements applicable to their internal models under the Fundamental Review of the Trading Book (FRTB) rules. These RTS are part of the phase 4 deliverables of the EBA roadmap on market risk and counterparty credit risk approaches. Today’s final draft RTS represent a significant milestone in the implementation of the FRTB internal models in the EU.

The EBA publishes final templates to collect climate-related data from EU banks

The European Banking Authority (EBA) today published the final templates that will be used to collect climate-related data from EU banks in the context of the one-off Fit-for-55 climate risk scenario analysis. The templates are accompanied by a template guidance, which includes definitions and rules for compiling the templates. Furthermore, the EBA is also disclosing the list of banks participating in the exercise.

The EBA’s monitoring of IFRS 9 implementation by EU institutions confirms need to timely address practices misaligned with expectations

The European Banking Authority (EBA) today published its second Report on the International Financial Reporting Standard (IFRS) 9 implementation by EU institutions complementing the observations already included in the last IFRS 9 Monitoring Report, published in November 2021. This Report focuses on high default portfolios (HDPs) and aims to promote further improvements in the ECL model practices among EU institutions by providing transparency on the major areas of concern identified by the EBA. In line with the IFRS 9 Roadmap, the EBA will continue monitoring and promoting the consistent application of IFRS 9.

EBA consults on Guidelines on complaints handling by credit servicers

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 consultation runs until 9 February 2024.

The EBA consults on draft regulatory technical standards on liquidity requirements and on draft Guidelines on liquidity stress testing of relevant issuers of tokens, under MiCAR

The European Banking Authority (EBA) today launched three consultations on draft Regulatory Technical Standards (RTS) to specify the liquidity requirements of the reserve of assets, the highly liquid financial instruments in the reserve of assets and the minimum content of the liquidity management policy and procedures of relevant issuers of tokens. Furthermore, the EBA consulted on draft Guidelines to establish the common reference parameters of the stress test scenarios to be included in their liquidity stress testing. These consultations form part of the prudential package of MiCAR deliverables and make up the third batch of MiCAR policy products. The consultations run until 8 February 2024.

The EBA consults on draft technical standards on own funds requirements and stress testing of issuers under MiCAR

The European Banking Authority (EBA) today a launched two consultations on draft Regulatory Technical Standards (RTS) on own funds requirements and stress testing of issuers under the Markets in Crypto-Assets Regulation (MiCAR) which form part of the prudential package of MiCAR products. The first RTS specify the adjustment of own funds requirements and stress testing of issuers of asset-referenced tokens and e-money tokens. The second RTS specify the procedure and timeframe to adjust its own funds requirements for issuers of significant asset-referenced tokens or of e-money tokens. These consultations, together with other consultations papers published today, form part of the third batch of MiCAR policy products. The consultations run until 8 February 2024.

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

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. The consultation runs until 8 February 2024.

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

The European Banking Authority (EBA) today launched a consultation under the Markets in Crypto-Assets Regulation (MiCAR) on draft Regulatory Technical Standards (RTS) specifying the methodology to be applied by issuers of asset-referenced tokens (ARTs) and of e-money tokens (EMTs) denominated in a non-EU currency for reporting transactions associated to uses of these tokens “as a means of exchange”. 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. All consultations run until 8 February 2024.

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

The European Banking Authority (EBA) today launched a consultation on draft Regulatory Technical Standards (RTS) specifying the criteria for determining the composition of supervisory colleges for each issuer of a significant asset referenced token (ART) or of a significant e-money token (EMT). 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. All consultations run until 8 February 2024.

EBA releases the technical package for phase 3 of its 3.3 reporting framework

​​​​​​​The European Banking Authority (EBA) today published the technical package for phase 3 of version 3.3 of its reporting framework. This provides the standard specifications that include the validation rules, the Data Point Model (DPM) and the XBRL taxonomies to support the new reporting on Interest Rate Risk in the Banking Book (IRRBB).

The EBA issues Opinion on a measure to address macroprudential risk following a notification by the Swedish Financial Supervisory Authority

​​​​​​​The European Banking Authority (EBA) today published an Opinion following the notification by the Swedish Financial Supervisory Authority, Finansinspektionen, of its intention to extend for another two-year period a measure originally introduced in 2018 to ensure that banks remain resilient and can withstand a potentially severe downturn in the housing market without restricting the supply of credit.

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