21

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Has the relaxation of capital and liquidity buffers worked in practice?

29-10-2020

We analyse the recent policy decisions made by the ECB and the national authorities related to capital, liquidity, and shareholders’ remuneration aimed at promoting credit supply from the banking sector to the coronavirus-afflicted economy. We forecast the impact of the regulatory decisions based on the empirical literature, discuss the factors that reduce the banks’ incentives to expand loan portfolios and develop policy suggestions intended to mitigate the effect of these factors.

We analyse the recent policy decisions made by the ECB and the national authorities related to capital, liquidity, and shareholders’ remuneration aimed at promoting credit supply from the banking sector to the coronavirus-afflicted economy. We forecast the impact of the regulatory decisions based on the empirical literature, discuss the factors that reduce the banks’ incentives to expand loan portfolios and develop policy suggestions intended to mitigate the effect of these factors.

Autor externo

Alexandra MATYUNINA, Steven ONGENA

Banking Union: Corona crisis effects - week 20

15-05-2020

The corona crisis has significant effects on many banks in the Banking Union. To support the Members of the Banking Union Working Group, the following briefing reports on observations made and actions taken by supervisory authorities, credit rating agencies, banking federations, or other industry experts, in order to point to relevant developments in the banking sector. The briefing will be updated on a bi-weekly basis, unless relevant developments require otherwise.

The corona crisis has significant effects on many banks in the Banking Union. To support the Members of the Banking Union Working Group, the following briefing reports on observations made and actions taken by supervisory authorities, credit rating agencies, banking federations, or other industry experts, in order to point to relevant developments in the banking sector. The briefing will be updated on a bi-weekly basis, unless relevant developments require otherwise.

Minimum loss coverage for non-performing loans

20-05-2019

The recessions resulting from the financial crisis that broke out at the end of the last decade have caused economic difficulties for more and more EU companies and citizens in recent years, leaving them unable to repay their loans. As a result many EU banks have accumulated high volumes of non-performing loans (NPLs) on their balance-sheets. Although it has almost halved since December 2014, the ratio between NPLs and total loans extended by EU banks (the NPL ratio) remains historically high when ...

The recessions resulting from the financial crisis that broke out at the end of the last decade have caused economic difficulties for more and more EU companies and citizens in recent years, leaving them unable to repay their loans. As a result many EU banks have accumulated high volumes of non-performing loans (NPLs) on their balance-sheets. Although it has almost halved since December 2014, the ratio between NPLs and total loans extended by EU banks (the NPL ratio) remains historically high when measured against the ratios of other advanced economies. NPLs represent a risk to banks' balance sheets inasmuch as future losses they might generate are not sufficiently covered by appropriate reserves. To tackle this issue, in March 2018 the Commission adopted a comprehensive package of measures, including a proposal for a regulation amending the Capital Requirements Regulation (CRR) to introduce common minimum loss coverage levels (a 'statutory backstop') for newly originated loans that become non-performing. Following agreement on a text with the Council in trilogue, Parliament adopted the proposal in plenary on 14 March 2019. The final act was signed on 17 April 2019 and published in the Official Journal on 25 April 2019, coming into force the following day. Second edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Plenary round-up – Strasbourg, March I 2019

15-03-2019

Highlights of the March I plenary session included debates on Brexit, preparation of the European Council meeting of 21-22 March 2019, and the latest debate on the Future of Europe, with Peter Pellegrini, Slovakia's Prime Minister. Parliament also held debates on a proposed European human rights violations sanctions regime; the situation in Venezuela and Nicaragua; opening EU-US trade negotiations; climate change; gender balance in nominations to EU economic and monetary affairs bodies; and on the ...

Highlights of the March I plenary session included debates on Brexit, preparation of the European Council meeting of 21-22 March 2019, and the latest debate on the Future of Europe, with Peter Pellegrini, Slovakia's Prime Minister. Parliament also held debates on a proposed European human rights violations sanctions regime; the situation in Venezuela and Nicaragua; opening EU-US trade negotiations; climate change; gender balance in nominations to EU economic and monetary affairs bodies; and on the urgency to establish an EU blacklist of third countries with weak regimes on anti-money-laundering and countering terrorist financing. Finally, Parliament adopted first-reading positions on three further proposed funding programmes for the 2021-2027 period. A number of Brexit-preparedness measures were also adopted.

Establecimiento de una cobertura mínima para pérdidas potenciales derivadas de préstamos dudosos

06-03-2019

En marzo de 2018, la Comisión adoptó un paquete de medidas para atajar los riesgos derivados de los elevados niveles de préstamos dudosos en los balances de los bancos de la Unión. El paquete incluye una propuesta de modificación del Reglamento relativo a los requisitos de capital para introducir unos niveles mínimos de cobertura comunes como «mecanismo legal de protección prudencial» para préstamos concedidos recientemente que se conviertan en dudosos. La votación de la propuesta en el Parlamento ...

En marzo de 2018, la Comisión adoptó un paquete de medidas para atajar los riesgos derivados de los elevados niveles de préstamos dudosos en los balances de los bancos de la Unión. El paquete incluye una propuesta de modificación del Reglamento relativo a los requisitos de capital para introducir unos niveles mínimos de cobertura comunes como «mecanismo legal de protección prudencial» para préstamos concedidos recientemente que se conviertan en dudosos. La votación de la propuesta en el Parlamento está prevista para marzo.

Credit servicers, credit purchasers and the recovery of collateral: Fostering secondary markets for non-performing loans (NPLs) and easing collateral recovery

12-02-2019

Due to the recessions brought about by the financial crisis from the end of the past decade, more and more EU companies and citizens have faced economic difficulties in recent years and have been unable to repay their loans. As a consequence, many EU banks have accumulated high volumes of non-performing loans (NPLs) in their balance-sheets. Although almost halved in comparison to December 2014, the ratio between NPLs and the total loans extended by EU banks (NPL ratio) remains historically high when ...

Due to the recessions brought about by the financial crisis from the end of the past decade, more and more EU companies and citizens have faced economic difficulties in recent years and have been unable to repay their loans. As a consequence, many EU banks have accumulated high volumes of non-performing loans (NPLs) in their balance-sheets. Although almost halved in comparison to December 2014, the ratio between NPLs and the total loans extended by EU banks (NPL ratio) remains historically high when measured against the ratios of other advanced economies. High levels of NPLs require banks to hold higher amounts of regulatory capital and pay a risk premium on liquidity markets, as a result of which their profitability and growth prospects diminish. To tackle this issue, a number of different initiatives have been adopted both at national and EU level. Within this context, in March 2018 the Commission adopted a comprehensive package of measures including a proposal for a directive aimed at fostering NPL secondary markets and easing collateral recovery from secured loans.

Minimum loss coverage for non-performing exposures

03-07-2018

In March 2018, the European Commission presented a proposal to introduce statutory backstops for 'non-performing exposures'. These concern loans, debt securities or certain overdue off-balance-sheet items. Since the financial crisis, the EU has aimed to address the high numbers of these non-performing exposures, including in particular non-performing loans, as they risk destabilising the financial sector and thereby the EU economy. This briefing provides an initial appraisal of the quality of the ...

In March 2018, the European Commission presented a proposal to introduce statutory backstops for 'non-performing exposures'. These concern loans, debt securities or certain overdue off-balance-sheet items. Since the financial crisis, the EU has aimed to address the high numbers of these non-performing exposures, including in particular non-performing loans, as they risk destabilising the financial sector and thereby the EU economy. This briefing provides an initial appraisal of the quality of the impact assessment accompanying the Commission proposal

Free movement of capital within the European Union

31-05-2018

Amongst the four fundamental freedoms that underpin the EU single market (free movement of persons, goods, services and capital), the free movement of capital is the most recent. Until the mid-1990s it did not exist in practice in a number of Member States. Financial operations in other Member States or in other currencies within the EU were subject to prior authorisation requirements by national authorities. These controls enabled national authorities to prevent or restrict financial operations. ...

Amongst the four fundamental freedoms that underpin the EU single market (free movement of persons, goods, services and capital), the free movement of capital is the most recent. Until the mid-1990s it did not exist in practice in a number of Member States. Financial operations in other Member States or in other currencies within the EU were subject to prior authorisation requirements by national authorities. These controls enabled national authorities to prevent or restrict financial operations. Free movement of capital became applicable with the 1993 Maastricht treaty, which removed all restrictions on capital movements and payments, both between Member States and with third countries. The principle has direct effect, meaning that it requires no further legislation at either EU or Member State level.

Unión bancaria - Informe anual 2017

22-02-2018

Está previsto que durante el periodo parcial de sesiones de febrero II el Parlamento someta a votación un informe de propia iniciativa sobre la unión bancaria en 2017. En el informe se abordan la cooperación entre autoridades, los riesgos inherentes a los balances de los bancos, las normas prudenciales y los desafíos emergentes. Asimismo, se indica que la unión bancaria permanece incompleta puesto que carece de un mecanismo de protección presupuestaria y de un sistema europeo de garantía de depósitos ...

Está previsto que durante el periodo parcial de sesiones de febrero II el Parlamento someta a votación un informe de propia iniciativa sobre la unión bancaria en 2017. En el informe se abordan la cooperación entre autoridades, los riesgos inherentes a los balances de los bancos, las normas prudenciales y los desafíos emergentes. Asimismo, se indica que la unión bancaria permanece incompleta puesto que carece de un mecanismo de protección presupuestaria y de un sistema europeo de garantía de depósitos.

The Provision of Critical Functions at Global, National and Regional Level - Is there a need for further legal/regulatory clarification if liquidation is the default option for failing banks?

30-11-2017

This paper defines critical banking functions and considers whether there is a need for further legal/regulatory clarification if liquidation is the default option for failing banks. We rely on EU law and soft law principles (FSB) bearing in mind that ‘liquidation’ is at times a loosely defined concept. Despite efforts to agree upon a set of qualitative and quantitative criteria to assess the critical nature, or lack thereof, of relevant functions we argue that simplification is needed. Given the ...

This paper defines critical banking functions and considers whether there is a need for further legal/regulatory clarification if liquidation is the default option for failing banks. We rely on EU law and soft law principles (FSB) bearing in mind that ‘liquidation’ is at times a loosely defined concept. Despite efforts to agree upon a set of qualitative and quantitative criteria to assess the critical nature, or lack thereof, of relevant functions we argue that simplification is needed. Given the discretionary element in the determination of public interest and critical functions and the existence of different legal sources with different purposes, we recommend a consistent application of the resolution rules to build up credibility in the Banking Union project, considering in particular the differential treatment by the competent resolution authorities in recent Spanish and Italian liquidation and resolution cases.

Autor externo

Rosa M. Lastra, Rodrigo Olivares-Caminal, Costanza A. Russo

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