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CRR III: Credit Risk for the Internal Ratings Based Approach
The Capital Requirements Regulation III (CRR III) enhances EU banking stability by integrating Basel III. Effective January 1, 2025, it sets strict capital requirements to mitigate risks and fortify banks.
MiFID II Regulation: ESMA's Consultation on Draft RTS
ESMA's July 16, 2024, consultation paper proposes new MiFID II standards to improve order execution policies of investment firms. It highlights current deficiencies like poor documentation and generic disclosures, emphasizing transparency and compliance.
Basel Committee’s Adjustments to the IRRBB Standard
On July 16, 2024, the Basel Committee on Banking Supervision (BCBS) updated the Interest Rate Risk in the Banking Book (IRRBB) standard. Key changes include expanded calibration periods, local shock factors, a 99.9th percentile value, and precise interest rate shocks.
MiCA Regulation: EBA's Guidelines on Data Reporting
The Regulation on Markets in Crypto-Assets (MiCA), Regulation (EU) 2023/1114, is crucial for the EU's regulatory approach. On July 15, 2024, the EBA released draft guidelines for data reporting by NCAs, issuers of asset-referenced tokens, e-money tokens, and Crypto-Asset Service Providers.
EU AI Act: Framework and Application
The EU AI Act, effective July 12, 2024, standardises AI regulations across EU states, promoting trustworthy AI aligned with EU values. It classifies AI by risk, mandates risk management, transparency, and documentation.
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