BANKING

SEPA rulebooks, rules and guidelines updated for November 2016

The European Payments Council has published new versions of its SEPA scheme rulebooks. In a press release the EPC explains these will take effect from 19 November 2017 so that participants have a year to adapt their systems to ensure compliance. Existing rulebooks have also been updated to make administrative changes only which take effect from 24 December 2016.

EPC, 24 November 2016

EBA final guidelines on implicit support for securitisation transactions under CRR: official translations

The EBA has published translations of its final guidelines on implicit support for securitisation transactions under the CRR. The guidelines provide clarity on arm's length conditions and when a transaction is not structured to provide support for securitisations and will apply from 1 March 2017. The English language version is available along with other official languages of the EU.

EBA, 24 November 2016

Consultation on regulatory fees for 2017/18 from PSR

The Payment Systems Regulator has published a consultation paper on PSR regulatory fees for 2017/18. CP16/53 closes for responses on 16 January 2017 and the FCA has also published a related webpage.

PSR, 24 November 2016

Clarification over why ECB stress test results were not published

The ECB has published a letter from the ECB Supervisory Board Chair which responds to a query from the European Parliament asking why results of the 2016 internal stress testing exercise have not been published.

ECB, 23 November 2016

Second impact assessment of IFRS 9 on EU banks launched by EBA

The EBA has published a press release announcing it has launched a second impact assessment of IFRS 9 on EU banks. This is based on experience gained from the first impact assessment and will build on initial objectives. The sample taken is likely to be c 50 institutions across the EU.

EBA, 24 November 2016

Terms of reference of retail banking of the Remedy Implementation Programme Board published

The Competition and Markets Authority has published the terms of reference of the RIPB which was established to assist in the implementation of the remedies resulting from the retail banking market investigation.  The RIPB will meet every four to six weeks, following on from the first meeting which took place on 17 October 2016. The minutes of the first meeting which discussed the terms of reference and progress made have also been published.

CMA, 24 November 2016

Resolution on finalisation of Basel III adopted

The European Parliament has published a provisional version of the text of the resolution adopted on finalisation of Basel III. ECON voted on the text of the resolution on 10 November 2016.

European Parliament, 23 November 2016

Report on proposed new digital content and online sale of goods directives from European Scrutiny Committee

An update has been provided by the UK Parliament's European Scrutiny Committee on two proposed new EU consumer protection directives relating to digital content and online/distances sales of goods.

European Scrutiny Committee, 18 November 2016


INVESTMENTS AND FUNDS

Speech on regulation and distributed ledger technology published by ESMA

ESMA has published a speech given by the Senior Risk Analysis Officer, relating to regulation and DLT. A key aspect of the speech is financial innovation and the associated risk challenges this presents.

ESMA, 24 November 2016