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EU Releases Draft Texts for CRR III and CRD VI
On May 22, 2024, the Council of the EU unveiled draft directives amending EU banking regulations, aiming to bolster supervisory powers, address environmental and social risks, and enhance risk assessment standards.
Regulation 575/2013: Market Risk Requirement under Basel III
The European Parliament and Council have amended Regulation (EU) No 575/2013 to update requirements for credit risk, credit valuation adjustment risk, operational risk, market risk, and the output floor, ensuring the stability and resilience of the EU banking sector.
AML Package: EU Council Publishes Key Regulatory Texts
On May 20, 2024, the Council of the EU unveiled pivotal legislation to combat money laundering and terrorist financing. Pending formal adoption, the legislation will be published in the Official Journal of the EU.
ADC Exposures Under Capital Requirements Regulation (CRR)
On May 17, 2024, EBA released draft guidelines for ADC exposures in residential property. These aim to mitigate risks under CRR, allowing a 100% risk weight under specific conditions. Comments accepted until August 19, 2024.
PSR & PSD3: Safeguarding & Authentication
On 7 May 2024, the ECB published its opinion on proposed EU regulations for payment services, welcoming them while addressing areas like fraud monitoring, strong authentication, and access to payment systems.
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