International Regulatory Updates

The European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) together with the European Central Bank (ECB), today released the results of the one-off “Fit-For-55” climate scenario analysis. Under the scenarios examined, transition risks alone are unlikely to threaten financial stabi ...

EIOPA welcomes the approval of the global Insurance Capital Standard (ICS) by the International Association of Insurance Supervisors (IAIS) as a prescribed capital requirement for internationally active insurance groups (IAIGs). EIOPA also notes that the United States’ Aggregation Method (US AM) p ...

Today, the Network for Greening the Financial System (NGFS) releases the Cali-Baku Pledge to Enable Action on the occasion of the 2024 United Nations Biodiversity Conference (COP16) and the United Nations Climate Change Conference (COP29), reaffirming its commitment to address and mitigate climate ...

The European Central Bank (ECB) today concluded its cyber resilience stress test, which gauged how banks would respond to and recover from a severe but plausible cybersecurity incident. Overall, the stress test showed that banks have response and recovery frameworks in place, but areas for improveme ...

Capital Adequacy The aggregate capital ratios of significant institutions (i.e. those banks that are supervised directly by the ECB) were stable in the first quarter of 2024. The aggregate Common Equity Tier 1 (CET1) ratio stood at 15.74%, the aggregate Tier 1 ratio stood at 17.12% and the aggreg ...

The European Central Bank (ECB) has published on its website a report on the sanctioning activities across the Single Supervisory Mechanism (SSM). This report has been prepared by the SSM Network of Enforcement and Sanctions Experts to present comprehensive statistics on sanctioning activities in re ...

The Governing Council of the European Central Bank (ECB) has appointed Sharon Donnery, Pedro Machado and Patrick Montagner as ECB representatives to the Supervisory Board of ECB Banking Supervision, each for a five-year non-renewable term. They will succeed current ECB representatives Edouard Fernan ...

The European Banking Authority (EBA) today published a Report on the issuance of what is commonly referred to as ‘virtual IBANs’ (vIBANs). In the absence of a common definition, the Report observes that the industry issues vIBANs in different ways and for different purposes and national authorit ...

The European Central Bank (ECB) today launches a public consultation on its new Guide on outsourcing cloud services to cloud service providers. The Guide aims to clarify both the ECB’s understanding of related legal requirements and its expectations for the banks it supervises. This will mak ...

The European Insurance and Occupational Pensions Authority (EIOPA) is launching today its 2024 stress test in which it subjects insurers in the European Economic Area to a hypothetical scenario of severe but plausible adverse developments in financial and economic conditions. This year’s exercise ...