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In the aftermath of the 2008 financial crisis, which showed the need for more sophisticated and demanding capital requirements for banks, new regulations were agreed at international level – known as the Basel III Agreements. In the EU, they were implemented essentially by amending the Capital Requirements Directive (CRD) and adopting the Capital Requirements Regulation (CRR). On 27 October 2021, the Commission tabled two interconnected proposals to amend the CRR and the CRD, respectively. The objective ...

In July 2021, the European Commission tabled a proposal to establish a new EU authority to counter money laundering and the financing of terrorism (AMLA). This was part of a legislative package aimed at implementing the 2020 action plan for a comprehensive Union policy on preventing money laundering and the financing of terrorism. The AMLA would be the centre of an integrated system composed of the authority itself and the national authorities with an AML/CFT supervisory mandate. It would also support ...

This briefing has been prepared for the public hearing with the Chair of the ECB Supervisory Board, Andrea Enria, in ECON on 21 March 2023, covering: • A European perspective on recent US bank failures, in particular Silicon Valley Bank • SREP results for 2022 • Supervisory Banking Statistics • EBF-commissioned study on the cost of regulation for EU banks • EBA 2023 EU-wide stress test scenario • ECB sanction for failing to report cyber incident within deadline • Enhanced Code of Conduct ...

Geopolitical risk will increasingly confront EU banks and their supervisors in the coming years. This paper assesses four specific manifestations of this type of risk and the related banking vulnerabilities and proposes new or modified priorities for European Central Bank banking supervision.

After the financial crisis, the supervisory framework of the euro area banking sector has been seriously scaled up. This briefing argues, however, that there still is a watchdog role for journalists, as banking supervisors cannot single out banks that take excessive risks or fall short of other obligations. Based on a survey, we find that more than half of the significant banks in the euro area organise press conferences, which could provide a suitable forum for dedicated journalist to ask challenging ...

This study evaluates the European Parliament's accountability instruments in the Single Supervisory Mechanism (SSM) in light of their comparability to existing arrangements in monetary policy. The analysis shows that the Inter-Institutional Agreement with the European Central Bank in banking supervision did not result in a significantly different accountability relationship than the one between the two institutions in monetary policy. The results are based on interviews with Members of the European ...

This study evaluates selected aspects of the Commission's AML/CFT reform package presented on 20 July 2021, focusing on two main topics. First, it analyses the AML Authority direct supervisory powers and their effectiveness. Second, it illustrates how the reform package intends to foster coordination and information sharing among the FIUs. Recommendations are provided in order to remedy the gaps and weaknesses identified. This document was provided by the Policy Department for Economic, Scientific ...

This paper discusses the Institutional Protection Schemes of the German Savings Banks Finance Group and the National Association of Cooperative Banks. Both schemes have been recognised as Deposit Guarantee Schemes. Although both schemes never had to pay out to depositors, supervisors have expressed worries about several weaknesses of the IPS of the Savings Banks Finance Group, such as unclear responsibilities of the ‘owners’ and the IPS, complex decision-making processes, risk of insufficient pro-active ...

This briefing paper investigates the practice of close cooperation and examines the banking system performance in Bulgaria and Croatia. The factors that could pose risks to Bulgarian and Croatian banks are identified.

The close cooperation arrangement for Bulgaria and Croatia poses challenges for the ECB that we discuss in terms of existing and emerging risks and vulnerabilities in the two banking sectors. The focus is on three risk areas: money laundering, climate change risk, and geopolitical tensions related to the Russia-Ukraine conflict. The high political and economic uncertainty arising from this conflict requires a reassessment of existing risks (such as credit and sovereign risks) and sources of new risks ...