BANKING

ECB letter on competence to exercise SSM supervisory powers granted under national law

The European Central Bank (ECB) has published a letter (dated 31 March 2017) that it has sent to banks within the scope of the single supervisory mechanism (SSM) on its competence to exercise supervisory powers granted under national law. European Central Bank, 20 June 2017

 

ECB reports on leverage ratio, risk-taking and bank stability

The ECB has published a working paper on the trade-off between additional loss-absorbing capacity and potentially higher bank risk-taking associated with the introduction of the Basel III Leverage Ratio. The authors suggest that a leverage ratio requirement would lead to a significant decline in the distress probability of highly leveraged banks. European Central Bank, June 2017

 

EBA sets out views on scheme separation under the IFR

The European Banking Authority (EBA) has published an introductory statement on its reasons for disagreeing with three of the proposals in the European Commission’s draft regulatory technical standards on the separation of card payment schemes and processing entities under the Interchange Free Regulation (IFR). The IFR aims to enhance competition in the internal market for card-based payments. European Banking Authority, 20 June 2017

 

PRA consults on compliance with EBA guidelines on disclosure on composition of collateral for exposures to CCR

The PRA has published a consultation paper on compliance with the EBA's guidelines on disclosure in relation to the composition of collateral for exposures to counterparty credit risk (CCR).

In the consultation, the PRA seeks views on a draft supervisory statement on compliance with the EBA's guidelines on disclosure, which were most recently updated on 7 June 2017. Prudential Regulation Authority, June 2017

 

European Commission responses to FinTech consultation

The European Commission has published the responses to its consultation on FinTech, which was published in March 2017. The respondents include the Payment Systems Regulator. Among other things, in its response, the PSR summarises the work it is carrying out relating to FinTech and how it has established the Payments Strategy Forum to help deliver a strategy involving innovation and industry collaboration. European Commission, 21 June 2017

 

INVESTMENTS AND FUNDS

 

Implementing Regulation on format of position reports by investment firms and market operators under MiFID II published in OJ

The Commission Implementing Regulation (EU) 2017/1093 laying down implementing technical standards with regard to the format of position reports by investment firms and market operators under the MiFID II Directive has been published in the Official Journal of the EU (OJ). OJEU, 20 June 2017