International Regulatory Updates

The European Central Bank (ECB) today published its final report on “Sound practices in counterparty credit risk governance and management”, following a public consultation which ended in July 2023. The report presents the findings of the targeted review performed in the second half of 2022 ...

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today publishes a letter and a statement to encourage preparations for a smooth transition to MiCA. In the letter addressed to the Economic and Financial Affairs Council (ECOFIN), E ...

The Governing Council of the European Central Bank (ECB) today nominated Claudia Buch for the non-renewable five-year position of Chair of the Supervisory Board, following consultation with the Supervisory Board. She is currently Vice-President of the Deutsche Bundesbank. Informal hearings of the ...

The European Central Bank (ECB) has imposed an administrative penalty of €4.47 million (€4,470,000) on de Volksbank N.V. after the bank miscalculated its risk weighted assets for exposures to regional governments outside the European Union. From 2014 to 2021, for 29 consecutive quarters the ...

Capital Adequacy The aggregate capital ratios of significant institutions (i.e. those banks that are supervised directly by the ECB) increased in the first quarter of 2023. The aggregate Common Equity Tier 1 (CET1) ratio stood at 15.53%, the aggregate Tier 1 ratio stood at 16.94% and the aggregat ...

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 ...

ECB Banking Supervision, the Single Resolution Board and the European Banking Authority welcome the comprehensive set of actions taken yesterday by the Swiss authorities in order to ensure financial stability. The European banking sector is resilient, with robust levels of capital and liquidity. ...

The European Central Bank (ECB) has imposed an administrative penalty of €6.825 million (€6,825,000) on Landesbank Hessen-Thüringen Girozentrale (Helaba) after the bank reported wrongly calculated risk-weighted assets for market risk. In 2020, for three consecutive quarters, Landesbank Hes ...

The European Central Bank (ECB) has imposed an administrative penalty of €3,145,000 on ABANCA Corporación Bancaria, S.A. (ABANCA) after it knowingly failed to report a significant cyber incident to the ECB within the prescribed two-hour deadline outlined in the cyber-incident reporting framework� ...

The European Central Bank (ECB) today published an enhanced Code of Conduct for all high-level ECB officials. These new rules, prepared by the ECB’s independent Ethics Committee, impose additional restrictions on the private financial transactions of high-level ECB officials, including Governing ...