International Regulatory Updates

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 ...

The European Central Bank (ECB) has imposed two administrative penalties totalling €3.54 million (€3,540,000) on Confédération Nationale du Crédit Mutuel after the bank breached requirements set out in two ECB decisions on internal models. Between May 2021 and April 2022, when using its in ...

The European Central Bank (ECB) today published the results of its asset quality reviews (AQRs) of FinecoBank S.p.A. and AS LHV Group. Both banks were classified as significant and are therefore now directly supervised by the ECB. Supervisors carry out AQRs to review banks’ asset valuations fro ...

The SRM Vision 2028 strategy is being launched today after a year of consultation and reflection with stakeholders across the Banking Union Conference features a host of high-level speakers as they discuss the road ahead: risk, readiness and resilience in financial stability. Today, the Single ...

The European Central Bank (ECB) will conduct a cyber resilience stress test on 109 directly supervised banks in 2024. The exercise will assess how banks respond to and recover from a cyberattack, rather than their ability to prevent it. Under the stress test scenario, the cyberattack succeeds in ...