Advanced Search

Content type
Publication dates

Search results found

Thematic note - Preliminary analysis of impact of COVID-19 on EU banks

THE EU BANKING SECTOR: FIRST INSIGHTS INTO THE COVID-19 IMPACTS THEMATIC NOTE EBA/REP/2020/17 THE EU BANKING SECTOR: FIRST INSIGHTS INTO THE COVID-19 IMPACTS 2 Contents List of figures 3 Executive summary 5 1. External environment 8 2...assumptions and approach 53 Sample of banks (as at 31 December 2019) 54 THE EU BANKING SECTOR: FIRST INSIGHTS INTO THE COVID-19 IMPACTS 3 List of figures Figure 1: Total confirmed cases in the EU in absolute terms (left) and as a share of population...and allotments of ECB open market operations since mid-March (right) 30 THE EU BANKING SECTOR: FIRST INSIGHTS INTO THE COVID-19 IMPACTS 4 Figure 17: iTraxx for financials’ senior unsecured and subordinated debt spreads (left) and Euribor by tenor...Thematic note - Preliminary analysis of impact of COVID-19 on EU banks

Publication date: 25/05/2020 (Last update: 25/05/2020)

Thematic note - Preliminary analysis of impact of COVID-19 on EU banks – May 2020 – data Annex

Publication date: 25/05/2020 (Last update: 25/05/2020)

EBA MB 2020 044 rev. 1 (Final minutes - MB 11 March 2020)

related to the timelime which they considered ambitious and challenging, especially considering the current developments with Covid-19 situations. Furthermore, Members suggested to extend the timeline for the developing and agreeing on the final report,...mentioned that the majority of work was to be done at the EBA level and therefore, some timelines might be shortened. The impact of Covid-19 situation should also not be underestimated as banks were likely to require more time to answer the questionnaires, this...work on the Cost of Compliance exercise, in particular the challenges around the overall timeline, especially considering the Covid-19 situation, and need to have good preparations and proper interaction with the industry before the launch of a quesitonnaire

Publication date: 19/05/2020 (Last update: 19/05/2020)

EBA MB 2020 050 rev. 1 (Final minutes - MB 15 April 2020).pdf

March, the Board of Supervisors (BoS) held three conference calls during which the BoS discussed recent developments caused by COVID-19 and took a number of important decisions to address the immediate effects of the pandemic. The BoS also agreed on the...teleworking policy. Agenda item 3: EBA contingency planning on COVID-19 (C-Point) 7. The EBA Head of Policy Coordination Unit (PAC) introduced the item by mentioning that in the context of the COVID-19 outbreak, the EBA has reviewed its contingency planning...provide market participants with much needed information on EU banks, including a preliminary assessment of the impact of COVID-19 and the measures adopted by the EBA in this regard. On the stress test, the EBA would start preparatory work for the 2021

Publication date: 19/05/2020 (Last update: 19/05/2020)

Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis

the COVID-19 crisis FINAL REPORT ON PAYMENT MORATORIA 2 Contents 1. Executive summary 3 2. Background and rationale 5 FINAL REPORT ON PAYMENT MORATORIA 3 1. Executive summary The outbreak of the COVID-19...In these circumstances, in order to minimise the medium- and long-term economic impacts of the efforts taken to contain the COVID-19 pandemic, Member States have implemented a broad range of support measures. These measures include, in many instances, some...supportive of the measures and initiatives taken in the Member States in order to address the economic consequences of the COVID-19 pandemic, it is also aware of the need to ensure that the risk is identified and measured in a true and accurate manner....Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis

Publication date: 16/04/2020 (Last update: 18/05/2020)

AML/CFT Newsletter

establishment of a single EU AML/CFT Supervisor. More here. EBA Statement on actions to mitigate financial crime risks in the COVID-19 pandemic We are calling on competent authorities that are responsible for the AML/CFT supervision of credit and financial...efforts during this pandemic by: 1. Making clear that financial crime remains unacceptable, even in times of crisis such as the COVID-19 outbreak; 2. Continuing to share information on emerging ML/TF risks and setting clear expectations of the steps credit and...0clarity%20on%20measures%20to%20mitigate%20the%20impact%20of%20COVID-19%20on%20the%20EU%20banking%20sector/Statement%20on%20actions%20to%20mitigate%20financial%20crime%20risks%20in%20the%20COVID-19%20pandemic.pdf https://eba.europa.eu/about-us/organisation

Publication date: 15/05/2020 (Last update: 15/05/2020)

31/03 Board of Supervisors meeting, teleconference

of the meeting. Agenda item 2: Draft Guidelines on public and private moratoria on loan payments applied in light of the COVID-19 crisis 4. The Chairperson introduced the item by summarising a discussion during the previous BoS conference call on 23...Prudential Regulation and Supervisory Policy Department (PRSP) continued by clarifying that the guidelines have been defined as a COVID-19 measure only, in order to avoid broader implications with the overall framework. The guidelines set out criteria for similar...guidelines was to address already exiting national measures, provide a framework for these measures and help banks to overcome the COVID-19 crisis by also extending to private moratoria in a similar manner the existing GL that apply to legal moratoria. 9. Several

Publication date: 06/05/2020 (Last update: 06/05/2020)

23/03 Board of Supervisors meeting, teleconference

note submitted to the conference call together with a statement on the definition of default, forbearance, IFRS and related Covid-19 measures. He also mentioned coordination with ESMA and the EBA’s intention to publish its statement in the coming days. ...forbearance, IFRS and related Covid-19 measures after the BoS written comments. Agenda item 4: Payments and Consumer Protection Concerns 17. The Chairperson briefly introduced the statement on consumer protection and payments in the Covid-19 crisis. 18. The...the conference call. Conclusion 21. The BoS agreed to publish the statement on consumer protection and payments in the Covid- 19 crisis after the BoS written comments. Agenda item 5: EBA alternatives in an emergency situations 22. The Chairperson

Publication date: 06/05/2020 (Last update: 06/05/2020)

EBA letter to John Berrigan, DG FISMA, on the requests to investigate a possible breaches of Union law under Article 17 of Regulation (EU) No 1093/2010

implementation reviews are continuing in 2020, noting the challenges of physical visits with multinational teams during the current COVID-19 pandemic. To ensure efficiency, we are cooperating with the Council of Europe who are assessing the implementation of Directive

Publication date: 05/05/2020 (Last update: 05/05/2020)

Joint statement on publication of bilateral margin RTS amendments in response to Covid-19

amendments to the bilateral margin requirements under EMIR in response to the COVID-19 outbreak The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs), in response to the COVID-19 outbreak have published joint draft Regulatory Technical Standards (RTS)...requirements, in order to provide additional operational capacity for counterparties to respond to the immediate impact of COVID-19. The ESAs draft RTS present the changes to the Delegated Regulation on bilateral margining to incorporate in the EU regulatory...contracts, equity option contracts and the implementation of the initial margin requirements. However, in response to the Covid-19 outbreak, the Final Report and the draft RTS have now been updated to take into account the agreement from the BCBS and IOSCO...Joint statement on publication of bilateral margin RTS amendments in response to Covid-19

Publication date: 04/05/2020 (Last update: 04/05/2020)

Joint RTS on amendments to the bilateral margin requirements under EMIR in response to the COVID-19 outbreak.pdf

been submitted to the Commission and published on the websites of the ESAs on 5 December 2019. However, in response to the Covid-19 outbreak, the Final Report has been updated to take into account the related decision from the BCBS and IOSCO to defer by...Commission and published on the websites of the ESAs on 5 December 2019. 8. However, a few months later, in response to the Covid-19 outbreak, the BCBS and IOSCO agreed and communicated on 3 April 2020 the deferral by one year of the implementation of...15. It can also be noted that no further amendment of the framework, except for the deferral introduced in response to the Covid-19 outbreak presented in section B below, and more specifically no further extension of the phase-in and no change of the thresholds

Publication date: 04/05/2020 (Last update: 04/05/2020)

Final report on draft ITS on specific reporting requirements for market risk.pdf

all relevant factors, as well as the benefits of a fixed application date, and in the light of the disruption caused by the COVID-19 outbreak in Europe, the first applicable reference date for the reporting in accordance with Article 430b CRR is envisaged...terms, but there is less of an interconnection and therefore less of a synergy in terms of substance. On the other hand, the COVID-19 outbreak is likely to require institutions to face and deal with increasingly difficult conditions in the immediate future...international bodies, considers it important that institutions concentrate their efforts on monitoring and assessing the impact of the COVID-19 outbreak as well as ensuring business continuity. Against this background, the envisaged application date of this ITS has

Publication date: 04/05/2020 (Last update: 04/05/2020)

EBA GL 2020 02 -CT GLs on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19.pdf

applied in the light of the COVID-19 crisis The following competent authorities* comply or intend to comply with the EBA’s Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis: Competent...FMA also published the letter on its website (https://www.fma.gv.at/en/covid- http://www.fma.gv.at/en/covid-19/) http://www.fma.gv.at/en/covid-19/) http://www.fma.gv.at/en/covid-19/) CONFIRMATION OF COMPLIANCE WITH GUIDELINES 3 Competent authority...Slovenia SK Slovakia Národná banka Slovenska FI Finland Finanssivalvonta (FIN- FSA) http://www.fma.gv.at/en/covid-19/) CONFIRMATION OF COMPLIANCE WITH GUIDELINES 4 Competent authority Complies or intends to comply Comments

Publication date: 27/04/2020 (Last update: 27/04/2020)

EBA Statement on the application of the prudential framework on targeted aspects in the area of market risk in the COVID-19

AREA OF MARKET RISK IN THE COVID-19 OUTBREAK 1 22 April 2019 Statement on the application of the prudential framework on targeted aspects in the area of market risk in the COVID-19 outbreak In response to the global COVID-19 pandemic, the EBA has...functioning of the prudential framework. This statement complements the existing guidance provided by the EBA in response to the COVID-19 outbreak by clarifying a number of aspects of the prudential framework in the area of market risk and proposing amendments...instruments. Delegated Regulation (EU) No 101/2016 specifies how AVAs should be calculated for this purpose. The expansion of the COVID-19 pandemic in the Union and across the globe has triggered levels of extreme volatility throughout financial markets affecting...EBA Statement on the application of the prudential framework on targeted aspects in the area of market risk in the COVID-19

Publication date: 22/04/2020 (Last update: 22/04/2020)

EBA statement on additional supervisory measures in the COVID-19 pandemic

STATEMENT ON ADDITIONAL SUPERVISORY MEASURES IN THE COVID-19 PANDEMIC 1 22 April 2020 EBA statement on additional supervisory measures in the COVID-19 pandemic 1. Following up to its strategic communications of 12th , 25th, 31st March and 2nd... 3 Recovery planning 8. Financial institutions should be able to focus on core operations in the context of the COVID19 pandemic and the European Banking Authority (EBA) recognises the need for credit institutions to maintain a strong focus...implemented timely and effectively if needed. Key elements of recovery plans in the current crisis 9. In light of the specific COVID-19 stress, while monitoring all recovery indicators, institutions should enhance their focus on understanding which recovery...EBA statement on additional supervisory measures in the COVID-19 pandemic

Publication date: 22/04/2020 (Last update: 22/04/2020)

EBA-RTS-2020-04 Amending RTS on Prudent Valuation.pdf

that they will exit a position based on the applicable market conditions at the time of the assessment. The expansion of the COVID-19 pandemic in the EU and across the globe has triggered levels of extreme volatility throughout financial markets affecting...affect the computed AVAs. Although AVAs should, in general, mechanically adjust to fluctuating market conditions, the recent COVID-19 outbreaks and the subsequent decisions by public authorities, in the EU and across the globe, to halt large parts of economic...Institutions’ total AVAs are deducted from Common Equity Tier 1 in accordance with Article 34 of the CRR. Recent COVID-19 outbreak The expansion of the COVID-19 pandemic in the EU and across the globe has triggered levels of extreme volatility throughout financial

Publication date: 22/04/2020 (Last update: 22/04/2020)

EBA BS 2020 175 rev. 1 (Final Minutes - BoS conf call 11 March 2020).pdf

Chairperson welcomed the Members. He clarified that the purpose of the teleconference was to discuss and address possible impact of COVID 19 on EU banks and to present a range of actions to address current developments. In this regard, he thanked the BoS for their... Summary of banks contingency plans operationalisation and CAs measures, and Possible actions for mitigating the impact of COVID 19 on EU banks 4. The Chairperson highlighted that operational resiliency was the top priority of banks. Therefore, the BoS...the EBA NPL management guidelines. Furthermore, the Director of EAS summarised additional options to address the impact of Covid-19, such as the release of the CCyB and the temporary breach of other capital buffers (with the subsequent MDA triggering) and

Publication date: 22/04/2020 (Last update: 22/04/2020)

EBA-GL Guidelines on payment moratoria_COR_RO.pdf

2020 Ghid referitor la moratoriile legislative și non- legislative aplicate plății împrumuturilor în contextul crizei COVID-19 RAPORT FINAL PRIVIND MORATORIILE DE PLĂȚI 2 1. Obligații de conformare și de raportare Statutul ghidului...prudențial al moratoriilor legislative și non-legislative aplicate plății împrumuturilor introduse ca răspuns la pandemia de COVID-19. Domeniul de aplicare 6. Prezentul ghid se aplică în relație cu aplicarea definiției stării de nerambursare în conformitate...trebuie să se limiteze doar la debitorii care s-au confruntat cu dificultăți financiare înainte de izbucnirea epidemiei de COVID-19. (c) moratoriul are în vedere doar modificări ale graficului plăților, și anume prin suspendarea, amânarea sau reducerea

Publication date: 22/04/2020 (Last update: 22/04/2020)

2020 03 15 PMR -2020 Jose Manuel Campa.pdf

REGISTER MARCH 2020 – CHAIRPERSON - JOSE MANUEL CAMPA Last updated: 20 April 2020 NB: Few meetings due to the COVID-19 restrictions Public Meeting Register – 1 – 16 March 2020 – Jose Manuel Campa Meeting Date Event or meeting name (Location)

Publication date: 21/04/2020 (Last update: 21/04/2020)

2020 04 15 PMR -2020 Jose Manuel Campa.pdf

REGISTER APRIL 2020 – CHAIRPERSON - JOSE MANUEL CAMPA Last updated: 20 April 2020 NB: Few meetings due to the COVID-19 restrictions Public Meeting Register – 1 – 15 April 2020 – Jose Manuel Campa Meeting Date Event or meeting name (Location)... situation and the impact of COVID-19 Not Applicable (N/A) Not Applicable (N/A) 03/04/2020 Telco with KPMG Francisco Uria, Head of Financial Services EMA Review of the Current situation and the impact of COVID-19 (N/A) (N/A) PUBLIC MEETING...Managing Partner, EMEA Elie Farah, Partner Anthony Charrie, VP Covid-19 - impact (N/A) (N/A) 08/04/2020 Telco with Dubai Financial Services Authority Saeb Eigner, Chairman Covid-19 - impact (N/A) (N/A)

Publication date: 21/04/2020 (Last update: 21/04/2020)