• SRB to monitor regulatory changes

    SRB approach to CRR discretion on leverage and MREL calibration

    The SRB will monitor regulatory changes related to competent authorities’ discretion to temporarily exclude certain exposures to central banks from the calculation of an institution’s total exposure measure (i.e. leverage amount), as granted by the Regulation (EU) 575/2013 (“CRR”). In September 2020 the ECB used this temporary measure to…

  • Industry Approach to CSDR Settlement Discipline Regime

    EFAMA publishes a Policy Position in relation to the application of the CSDR buy-in regime

    The Joint Associations welcome clarification from ESMA that national competent authorities are expected not to prioritise supervisory actions in relation to the application of the CSDR buy-in regime. They support the political agreement by the EU legislators on changes to Regulation (EU) No 909/2014 (“CSDR”) that allow for a delay to the…

  • Common Ground Taxonomy – Climate Change Mitigation

    IPSF publishes a new Instruction report

    In July 2020, the EU and China initiated a Working Group on taxonomies with the objectives to undertake a comprehensive assessment of the existing taxonomies for environmentally sustainable investments, including identifying the commonalities and differences in their respective approaches and outcomes.

    Please find the report…

  • Genossenschaftliche FinanzGruppe expands its stake in SCHUFA

    Volksbanken Raiffeisenbanken, together with their existing shareholders, were able to increase their shareholding in SCHUFA from 20.5 percent to currently 27.2 percent by exercising pre-emptive rights

    Raiffeisenbanken Cooperative Financial Network announces that the acquisition process for the SCHUFA shareholding structure has now entered a decisive phase. Together with its existing shareholders, it was able to increase its stake in SCHUFA from 20.5 percent to the current 27.2 percent by exercising pre-acquisition rights. Following…

  • Letter from the House of Representatives on the progress of the Commercial Register Data Vision

    Parliamentary letter about progress of Commercial Register Data Vision

    Minister Adriaansens (Business, Agriculture and Innovation) has written to the Lower House of Parliament to inform them of the details of the Commercial Register Data Vision. The aim of the data vision is to provide a policy framework for the meaningful use of trade registry data by society. The letter can be accessed …

  • 5th FMA Compliance & Money Laundering Prevention Practice Conference

    FMA: Weaknesses in the management of non-financial risks can endanger the reputation and economic stability of financial service providers.

    Around 130 risk and compliance managers and money laundering officers from supervised companies attended the 5th FMA Compliance & Money Laundering Prevention Practice Conference in Vienna, and the event could also be followed digitally in real time via livestream on the FMA website. The FMA experts reported on the latest international and…

  • European Commission commissions Scope to assess its creditworthiness

    Scope, an EU-based credit rating agency, was mandated to rate the EU's creditworthiness alongside the other mandated rating agencies.

    The European Commission today mandated Scope, an EU-based credit rating agency, to rate its creditworthiness alongside the other mandated credit rating agencies. By mandating SCOPE, the European Commission shows its commitment to promoting new entrants and competition in the market for credit ratings. This is one of the objectives of the EU…