EBA releases the technical package for phase 3 of its 3.3 reporting framework

Welcome back to Suade's RegFocus, your trusted source for the latest regulatory updates in the United States, Europe, and the United Kingdom.

In this edition, we'll outline the key themes and highlights from the recent regulatory updates on both sides of the Atlantic.

European Banking Authority (EBA) Updates:

1. EBA releases the technical package for phase 3 of its 3.3 reporting frameworkThe EBA published the technical package for phase 3 of version 3.3 of its reporting framework, including validation rules and taxonomies to support reporting on Interest Rate Risk in the Banking Book (IRRBB).
2. EBA issues Opinion on a measure to address macroprudential risk following a notification by the Swedish Financial Supervisory Authority EBA published an Opinion following a notification by the Swedish Financial Supervisory Authority, addressing measures to ensure banks' resilience in the housing market.
3. European Supervisory Authorities publish joint criteria on the independence of supervisory authorities The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority jointly published criteria on the independence of supervisory authorities.
4. EBA and ESMA consult on Joint Guidelines on suitability assessments under MiCAR EBA and ESMA published a Consultation Paper on Joint Guidelines covering suitability assessments for asset-referenced tokens and crypto-asset service providers to harmonize criteria.

European Securities and Markets Authority (ESMA) Updates:

1. ESMA publishes data for quarterly bond liquidity assessment and the systematic internaliser calculations ESMA published quarterly liquidity assessments for bonds and data for systematic internaliser calculations under MiFID II and MiFIR.
2. ESMA publishes analysis on the evolution of EEA share market structure since the application of MiFID IIESMA analyzed the evolution of the European share market structure, focusing on the impact of MiFID II and the UK's withdrawal from the EU.

Bank of England Updates:

1. DP3/23 – Securitisation : capital requirements A review of the Securitisation Regulation, discussing industry feedback on prudential requirements for securitization. CP16/22 on draft PRA rules to implement Basel 3.1 standards (Included in Securitisation Regulation Review)
2. PS13/23 – Updating UK Technical Standards on the identification of global systemically important institutions (G-SIIs) This PRA policy statement provides feedback on the identification of global systemically important institutions and amends the UK Technical Standards.

Financial Conduct Authority (FCA) Updates:

1. FCA secures contract changes for buy-now-pay-later customersThe FCA reported significant growth in buy-now-pay-later (BNPL) usage and secured contract changes for the benefit of consumers.

Commodity Futures Trading Commission (CFTC) Updates:

1. CFTC and French AMF Sign MOU for Supervision of Certain Cross-Border Firms CFTC and the French Autorité des marchés financiers (AMF) signed a Memorandum of Understanding for cooperation and exchange of information regarding cross-border regulated firms in the US and France.

Monetary Authority of Singapore (MAS) Updates:

1. MAS Consults on Streamlined Regulatory Framework for Fund Managers MAS launched a public consultation on streamlining the regulatory framework for fund managers in Singapore, including the transition from Registered Fund Management Companies to Licensed Fund Management Companies.

Federal Reserve Updates:

1. Agencies extend comment period on proposed rules to strengthen large bank capital requirementsFederal bank regulatory agencies extended the comment period on large bank capital proposals to enhance the strength and resilience of the banking system.
2. Agencies issue final rule to strengthen and modernize Community Reinvestment Act regulations Federal bank regulatory agencies issued a final rule to modernize regulations for the Community Reinvestment Act (CRA), encouraging banks to meet the credit needs of their communities.

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