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Single Supervisroy Mechanism (SSM) – Accountability arrangements and legal base for hearings in the European Parliament - State of Play - August 2019

29-08-2019

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Supervisory Mechanism.

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Supervisory Mechanism.

Single Supervisory Mechanism – Main Features, Oversight and Accountability

16-07-2019

The Single Supervisory Mechanism (SSM) is, along with the Single Resolution Mechanism, one of the pillars or the Banking Union (the third pillar, the common deposit guarantee scheme, still pending completion). It comprises the European Central Bank, in its supervisory capacity, and the national supervisory authorities (NCAs) of participating Member States.

The Single Supervisory Mechanism (SSM) is, along with the Single Resolution Mechanism, one of the pillars or the Banking Union (the third pillar, the common deposit guarantee scheme, still pending completion). It comprises the European Central Bank, in its supervisory capacity, and the national supervisory authorities (NCAs) of participating Member States.

Banking Union Essential Terms: Technical Abbreviations & Glossary (EN/DE/FR)

06-07-2018

This abbreviation list and tri-lingual glossary (English, German and French, see disclaimer) lists and explains relevant terms frequently used in the area of documents related to the Banking Union, more specifically in relation to the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM) and the application of the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR). The glossary and list of abbreviations may be updated and extended in order to ...

This abbreviation list and tri-lingual glossary (English, German and French, see disclaimer) lists and explains relevant terms frequently used in the area of documents related to the Banking Union, more specifically in relation to the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM) and the application of the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR). The glossary and list of abbreviations may be updated and extended in order to take account of new developments and needs. This document was provided by Policy Department A at the request of the ECON Committee.

Údar seachtarach

Bernd HEIMBÜCHEL, Ute HEIMBÜCHEL, Urs LENDERMANN

The role of the Basel Committee on Banking Supervision (BCBS)

20-10-2017

This briefing gives an overview of the role of the Basel Committee on Banking Supervision (BCBS) in setting international standards in banking regulation and supervision. It also raises the questions on how the preparatory work is organised in the European Union in order to enhance transparency and co-operation.

This briefing gives an overview of the role of the Basel Committee on Banking Supervision (BCBS) in setting international standards in banking regulation and supervision. It also raises the questions on how the preparatory work is organised in the European Union in order to enhance transparency and co-operation.

Banks' Internal Rating Models - Time for a Change? The System of Floors as Proposed by the Basel Committee

03-11-2016

We provide an assessment of the BCBS proposal on restricting the IRB approach and introducing RWA floors. If well enforced, risk-sensitive capital regulation results in a more efficient credit allocation compared to the SA. Thus, IRB should be maintained. Further, the use of IRB output floors potentially results in unintended negative side effects. Input floors are likely a valuable tool to achieve RWA comparability. Finally, the proposed measures have a potential detrimental impact for European ...

We provide an assessment of the BCBS proposal on restricting the IRB approach and introducing RWA floors. If well enforced, risk-sensitive capital regulation results in a more efficient credit allocation compared to the SA. Thus, IRB should be maintained. Further, the use of IRB output floors potentially results in unintended negative side effects. Input floors are likely a valuable tool to achieve RWA comparability. Finally, the proposed measures have a potential detrimental impact for European banks as compared to others.

Údar seachtarach

Rainer Haselmann and Mark Wahrenburg

Banks' Internal Rating Models - Time for a Change? The "System of Floors" as Proposed by the Basel Committee

03-11-2016

This briefing paper reviews evidence showing that the adoption of an International Ratings Based (IRB) approach to estimating risk weights by banks has been associated with reductions in average reported risk weights. Several economic studies find that the lower reported risk weights using the IRB methodology to some extent reflect downward risk manipulation by banks. In a system of floors, the purpose of an aggregate output floor should be to prevent wholesale bank-level downward risk weight manipulation ...

This briefing paper reviews evidence showing that the adoption of an International Ratings Based (IRB) approach to estimating risk weights by banks has been associated with reductions in average reported risk weights. Several economic studies find that the lower reported risk weights using the IRB methodology to some extent reflect downward risk manipulation by banks. In a system of floors, the purpose of an aggregate output floor should be to prevent wholesale bank-level downward risk weight manipulation, giving rise to effective bank undercapitalization and a heightened probability of bank failure. Input floors can play a useful role alongside an aggregate output floor, if they are targeted to address the problem of potential mismeasurement of risk.

Údar seachtarach

Harry Huizinga

Banks' Internal Rating Models - Time for a Change? The "System of Floors" as Proposed by the Basel Committee

03-11-2016

In this note, we discuss the proposal for a reform of internal rating models outlined by the Basel Committee. We first present internal rating models (which currently generate roughly 50% of supervisory capital in the European Union) and the reasons why they have been increasingly criticised. We then review the key proposals circulated by the Basel Committee: the removal of internal models for “low-default portfolios” (where defaults are too infrequent to allow adequate calibration); additional constraints ...

In this note, we discuss the proposal for a reform of internal rating models outlined by the Basel Committee. We first present internal rating models (which currently generate roughly 50% of supervisory capital in the European Union) and the reasons why they have been increasingly criticised. We then review the key proposals circulated by the Basel Committee: the removal of internal models for “low-default portfolios” (where defaults are too infrequent to allow adequate calibration); additional constraints on internal models’ estimates (“input floors”); an “output floor” tying the capital requirements generated by internal ratings to those that would emerge from the standardised approach. We than explain why, in our opinion, floors represent a technically flawed answer, and suggest a number of supervisory actions that may be pursued, instead, to restore internal models’ credibility, without causing an excessive burden for banking authorities. Such actions, which have already been explored by the EU in the last few years, should be embraced wholeheartedly by supervisors, to ensure that increased transparency on implementation and validation practices may restore market confidence in internal models.

Údar seachtarach

Andrea Resti

The Relationship between Banking Supervisors and Banks' External Auditors

30-06-2016

The briefing prepared by the Economic Governance Support Unit sketches the different roles that banking supervisors and banks' external auditors fulfil, outlines the need and extent to which they currently exchange information, and explains why in future they shall establish a more formal effective dialogue. Responsibilities for the enforcement of accounting rules and the review of accounting rules are briefly set out as well.

The briefing prepared by the Economic Governance Support Unit sketches the different roles that banking supervisors and banks' external auditors fulfil, outlines the need and extent to which they currently exchange information, and explains why in future they shall establish a more formal effective dialogue. Responsibilities for the enforcement of accounting rules and the review of accounting rules are briefly set out as well.

The European Union Agency for Railways

17-06-2016

Established in 2004 and based in Valenciennes (France), the European Railway Agency (ERA) was set up with a view to revitalising the rail sector and creating a Single European Railway Area (SERA) by eliminating regulatory and operational differences across EU rail systems. The 2013 Commission legislative proposals, known as the 'Fourth Railway Package', were adopted by the European Parliament in April 2016 after long negotiations. Among these proposals is a new regulation on ERA, renamed the EU Agency ...

Established in 2004 and based in Valenciennes (France), the European Railway Agency (ERA) was set up with a view to revitalising the rail sector and creating a Single European Railway Area (SERA) by eliminating regulatory and operational differences across EU rail systems. The 2013 Commission legislative proposals, known as the 'Fourth Railway Package', were adopted by the European Parliament in April 2016 after long negotiations. Among these proposals is a new regulation on ERA, renamed the EU Agency for Railways, which, with two modified directives, expands its powers.

Transatlantic data flows

23-05-2016

Privacy Shield is a new framework for transatlantic exchanges of personal data, agreed between the European Commission and the US government. Although it has significant improvements compared to its predecessor, Safe Harbour, concerns remain to be addressed before its finalisation.

Privacy Shield is a new framework for transatlantic exchanges of personal data, agreed between the European Commission and the US government. Although it has significant improvements compared to its predecessor, Safe Harbour, concerns remain to be addressed before its finalisation.

Imeachtaí atá ar na bacáin

20-11-2019
Europe's Future: Where next for EU institutional Reform?
Imeacht eile -
EPRS

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