BANKING

European Commission mid-term review of CMU action plan: financial services aspects

European Commission published a communication on the mid-term review of the capital markets union (CMU) action plan. The Commission has also published:

European Commission, 8 June 2017

BCBS updates FAQs on Basel III LCR framework

Basel Committee on Banking Supervision (BCBS) has published an updated version of its FAQs on the Basel III liquidity coverage ratio (LCR) framework BCBC, 8 June 2017

PRA updates remuneration policy templates and tables: June 2017

The PRA has updated its remuneration rules webpage to inform firms it has updated a number of its remuneration policy statement (RPS) templates and tables. The other changes the PRA has made are:

  • An amendment to question (D.i) within the RPS template for firms in proportionality level one, relating to the identification of material business units (MBUs).
  • Additional notes on buy-outs within the notes section of the RPS tables.

Links to the updated RPS templates and tables are set out on the webpage under the heading "Self-assessment templates and tables". PRA, 8 June 2017

ECON draft report on proposed Regulation amending CRR as regards transitional period for mitigating impact on own funds of introduction of IFRS 9

The European Parliament's Committee on Economic and Monetary Affairs (ECON) has published its draft report on the proposed Regulation amending the Capital Requirements Regulation (CRR) as regards the transitional period for mitigating the impact on own funds of the introduction of International Financial Reporting Standard 9 (IFRS 9) and the large exposures treatment of certain public sector exposures denominated in non-domestic currencies of member states. ECON, 6 June 2017

INSURANCE

European Commission adopts Delegated Regulation amending Solvency II Delegated Regulation on infrastructure corporates

European Commission has adopted a Delegated Regulation amending the Solvency II Delegated Regulation concerning the calculation of regulatory capital requirements for certain categories of assets held by insurance and reinsurance undertakings (infrastructure corporates). An impact assessment and executive summary have been published alongside the Delegated Regulation. European Commission, 8 June 2017