Summary
The European Parliament has decided not to object to a new regulation that updates how the EU identifies globally significant financial institutions, ensuring alignment with international standards for the 2021 assessment cycle. 9 10.03.2021
Other
finance
economy
financial institutions and credit
Key points
- The decision updates the methodology used to identify and categorize globally significant financial institutions in the EU.
- The update aligns European rules with the revised standards published by the Basel Committee on Banking Supervision.
- The regulation incorporates changes from recent updates to EU banking directives regarding supervisory measures and capital conservation.
- Implementation is intended to be completed before the 2021 identification exercise begins in April 2021 to ensure legal certainty.
Documents (PDFs)
RECOMMENDATION FOR A DECISION to raise no objections to the Commission delegated regulation of 11 February 2021 amending Delegated Regulation (EU) No 1222/2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards for the specification of the methodology for the identification of global systemically important institutions and for the definition of subcategories of global systemically important institutions
Non-objection to a delegated act: identification of global systemically important institutions and definition of subcategories of global systemically important institutions
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