European Commission Call for Advice EBA - SOS

The Commission services are currently preparing for the implementation in EU law of the revisions to the credit risk, operational risk and credit valuation adjustment risk frameworks, as well as the implementation of the new output floor, which were agreed1 by the Group of Governors and Heads of Supervision in December of last year (the socalled finalisation of the Basel III reforms2). The Commission services are also closely following the ongoing work3 ofthe Basel Committee on Banking Supervision (BCBS) on the market risk framework (expected to be concluded by the end of 2018) since it may lead to revisions to that framework which would then need to be implemented in EU law as well. As part of the implementation process, the Commission services are seeking technical advice from the European Banking Authority (EBA) on the potential impact of the abovementioned revisions, including any potential revisions to the market risk framework, on the EU banking sector and the wider EU economy, and on possible implementation challenges which would arise for institutions established in the EU (please see enclosed the Call for Advice for more details). I cannot stress enough the importance of this exercise. Up to date, there has been no comprehensive EU-specific assessment of the impact of implementing the abovementioned revisions in EU law. Because ofthe broad scope of the exercise and the substantial amount of work that will be needed in order to prepare the EBA's advice, my services have already contacted the EBA's staff to discuss the content of the Call for Advice. My services stand ready to support the EBA in completing this technical advice as efficiently as possible. The invaluable input from the EBA will be instrumental in informing the Commission’s decision. To this end, I would ask the EBA to deliver its analysis to the Commission services by 30 June 2019. If the delivery of the analysis on the revisions to the credit valuation adjustment (CVA) and market risk rules would not be possible by that date, the EBA should deliver that analysis by 30 September 2019 at the latest. In that case, the EBA should still deliver a preliminary analysis of the new output floor and a preliminary analysis of the combined impact of the key revisions in the report submitted by 30 June 2019.




http://www.eba.europa.eu/documents/10180/2207145/Letter+from+Olivier+Guersent+on+the+CfA+the+purposes+of+revising+the+own+fund+requirements+for+credit%2C%20operational+market+%26+credit+valuation+adjustment+risk+040518.pdf


http://www.eba.europa.eu/documents/10180/2207145/Call+for+advice+to+the+EBA+for+the+purposes+of+revising+the+own+fund+requirements+for+credit%2C%20operational+market+%26+credit+valuation+adjustment+risk+040518.pdf

http://www.eba.europa.eu/-/eba-will-support-the-commission-in-the-implementation-of-the-basel-iii-framework-in-the-eu

Comments

Post a Comment

Popular posts from this blog

Greece Moves Closer to Bailout Exit After Deal With Creditors

Greece and its creditors agreed on the next steps for completing the country’s final bailout review, a key milestone for exiting the program and striking a deal on debt relief. Government officials and representatives from the International Monetary Fund and euro-area creditor institutions completed a week of discussions in Athens on Saturday. Greek Finance Minister Euclid Tsakalotos said reaching a technical deal to conclude the fourth bailout review, the so-called staff level agreement, paves the way for discussion of debt relief measures. Euro-area finance ministers may begin a discussion over how to ease the country’s debt burden of about 320 billion euros ($377 billion) at a May 24 meeting. The SLA agreement also lets policy makers to proceed with designing a framework for the country’s post-program monitoring and determining what sort of strings would be attached to the debt relief. Tsakalotos said such a mechanism will be discussed at the June 21 Eurogroup meet...
Read more

Friends, sun, sand, and sea, that sounds like a summer to me!!!!!!

Image
  It's summertime!!! Back in 3 weeks!!! Smell the sea and feel the sky.  Katelios - Kefalonia, is a small fishing village on the southeast of the island and 32 kilometres away from Argostoli. Two decades ago in the village there were only fishermen who had their cottages and huts there. Gradually it became much more popular, initially among the residents of Argostoli who chose Katelios for their short excursions because of its local 'tavernas' with the delicious seafood. Since then there has been significant tourist development, although Katelios remains a quiet and peaceful destination, ideal for nature lovers and those seeking relaxation. The village is divided into Ano Katelios where the permanent residents have their properties and Kato Katelios which is the area with most of the tourist accommodation. Despite tourism Katelios hasn’t lost its character and therefore the peaceful and tranquil atmosphere along with the beautiful green surroundings m...
Read more

GREECE - IMF

The  head  of the  Euro Working Group  Vijlbrief expressed confidence that at the 21 June Eurogroup  there will be a comprehensive agreement for Greece, which most likely will not include financing from the IMF, although the Fund is expected to remain somehow involved in the programme (recall that Lagarde said recently that the IMF could be engaged in multiple forms and under multiple statuses). Vijlbrief, who expressed some concern over the nonparticipation of the IMF with funds, estimated that the Greek government will still not ask for a precautionary credit line. Vijlbrief also noted that the final tranche Greece can expect after the completion of the fourth review will be in the range of EUR 11-12 bn, while the size of the cash buffer for the post-bailout period has not been decided yet. Finally, the EWG head said that Greece would have to continue to fulfill three terms after the end of the current programme in August: reforms implementation, fiscal disci...
Read more