International Regulatory Updates


DECEMBER 20, 2022
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 ...
DECEMBER 16, 2022
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 ...
NOVEMBER 02, 2022
The European Central Bank (ECB) today published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks. The ECB is now setting staggered deadlines for banks to progressively meet all the supervisory expectations it laid out ...
OCTOBER 10, 2022
Capital Adequacy The aggregate capital ratios of significant institutions (i.e. those banks that are supervised directly by the ECB) were stable in the second quarter of 2022. The aggregate Common Equity Tier 1 (CET1) ratio stood at 14.96%, the aggregate Tier 1 ratio stood at 16.22% and the aggre ...
SEPTEMBER 01, 2022
The European Central Bank (ECB) has tasked five high level experts on banking supervision with reviewing the effectiveness and efficiency of the Supervisory Review and Evaluation Process (SREP) and how it relates to other supervisory processes. Members will provide input on the functioning of the SR ...
AUGUST 22, 2022
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 ...
APRIL 26, 2022
Sanctions Q1. What is the role of ECB Banking Supervision in the financial sanctions adopted by the European Union since Russia invaded Ukraine? The ECB does not impose these sanctions, nor does it monitor banks’ compliance with them. Banks are responsible for implementing and monitoring complia ...
APRIL 05, 2022
The European Insurance and Occupational Pensions Authority (EIOPA) has launched today its first climate stress test to gain insights into the effects of environmental risks on the European occupational pension sector. Sustainability and the management of environmental risks have become key considera ...
APRIL 04, 2022
The European Banking Authority (EBA) published today its Risk Dashboard for the fourth quarter (Q4) of 2021. A special feature highlights the potential impact of the Russian invasion of Ukraine on the EU/EEA banking sector. Based on the EBA’s initial assessment, direct exposures to Russia, Belarus ...
APRIL 04, 2022
The European Central Bank (ECB) today updated its policies outlining how it exercises options and discretions when supervising banks, following a public consultation which ended on 30 August 2021. Clarifying how the ECB exercises the options and discretions introduced by recent changes to EU ban ...