Banking Supervision

Amendments to the BRRD and the SRM regulation

Updated on 09/01/2019

State-of-play: Legislative phase.

  • Commission: Proposal was published on 23 November 2016.
  • European Parliament: First exchange of views in ECON committee on 28 February 2017.
    • On 25 April 2017, ECON committee held a Public Hearing on updating BRRD and SRM.
    • On 3 May 2017, ECON committee held a Public Hearing on updating BRRD and SRM.
    • The proposal was split in two parts in order to fast track the ranking of unsecured debt part.
    • On 11 June 2017, the first exchange of views on the fast tracked ranking of unsecured debt part took place in ECON.
    • On 27 September 2017, the rapporteur publishes his draft reports (report 1 / report 2).
    • On 29 September 2017, the ECON Committee published two draft reports on the BRRD.
    • On 22 February 2018, the ECON Committee held a debate on the proposed amendments to the draft reports.
    • On-going negotiations around compromise amendments.
    • On 20 June 2018, the ECON Committee voted to adopt the draft reports amending the BRRD and the SRMR.
    • On 28 June 2018, the plenary confirmed the committee vote and mandate to negotiate in trilogues.
  • Council:
    • Legislative work on-going in the respective working party.
    • Fast tracked proposals: On 7 December 2017 the Council adopts a directive on the ranking of unsecured debt instruments and a regulation on transitional agreements regarding the regulatory capital impact of IFRS 9.
    • On 25 May 2018, the ECOFIN Council reaches an agreement on a common position on the remaining parts of the RRM package in view of negotiations with the European Parliament and the Commission.
  • Level 3: On 19 October 2018 ESMA published a letter to EFRAG on the endorsement process of IFRS 17 insurance contract.
  • Official Journal:
    • On 28 December 2017, Directive 2017/2399 (amending directive 2014/59 on the BRRD) was published in the Official Journal.
    • On 28 December 2017, Regulation 2017/2395 on transitional arrangements for the introduction on IFRS 9 was published in the Official Journal.
  • Trilogue negotiations: Agreement reached. On 4 December 2018 the ECOFIN Council endorses RRM package including the BRRD and SRMR parts.

Review of the European Supervisory Authorities (ESAs)

Updated on 04/12/2018

State-of-play: Legislative phase.

  • Commission: Publication of consultation on 21 March 2017. Deadline: 16 May 2017.
  • Council:
    • Work on-going in the Council working party.
  • European Parliament: Has nominated B. Balz and P. Berès as co-rapporteurs and initiated its works.
    • On 23 January 2018, the ECON Committee published a working document on the ESA Review.
    • On 10 July 2018, the co-rapporteurs issued their draft report.
    • In early September Othmar Karas (EPP, AT) takes over as co-rapporteur from Burkahad Balz who left the European Parliament for the German Bundesbank.
    • On 12 September 2018 ECON Committee published amendments on ESAs Review.
    • On 14 September 2018 ECON Committee published amendments on ESAs Review.
    • On 31 October 2018 ECON published amendments on the AML part of the package - On-going compromise negotiations in the European Parliament.
  • Next steps:
    • On 10 December 2018 the European Parliament is scheduled to vote in ECON on the draft report and its amendments.
    • The Council is to reach a common position. The current Austrian Presidency ambitions to do so before the end of the year.

Amendments to the Capital Requirements Regulation and Directive

Updated on 09/01/2019

State-of-play: Legislative phase.

  • Commission: Proposal was published on 23 November 2016.
  • European Parliament: first exchange of views in ECON committee on 28 February 2017.
    • On 25 April 2017, ECON committee held a Public Hearing on updating CRR and CRD.
    • On 3 May 2017, ECON committee held a second exchange of views on updating CRR and CRD.
    • The proposal was split in two parts in order to fast track the IFRS9 part.
    • On 20 June 2017, the first exchange of views on the fast tracked IFRS9 part took place in ECON.
    • On 11 July 2017, the ECON Committee adopted its position on the fast tracked IFRS9. It should be voted in the next plenary session in September.
    • On 16 November 2017, the rapporteur publishes his draft reports on the CRD.
    • On 11 December 2017, the rapporteur publishes his draft report on the CRR.
    • On 22 February 2018, the ECON Committee discuss amendments to the draft report.
    • On 19 June 2018, the ECON Committee adopted the draft reports on the CRR II and the CRD V.
    • On 28 June 2018, the plenary confirmed the committee vote and mandate to negotiate in trilogues.
  • Council:
  • EBA: On 1 August 2017, EBA publishes an opinion on Article 458:
  • Next steps: Council to formally adopt the legislation.

Reform of banking structure

Updated on 05/09/2018

State-of-play: Withdrawn. on 3 July 2018

  • Commission: Proposal published on 29 January 2014. In its 2018 working programme, the Commission announces the withdrawal of the proposal.
  • European Parliament: A first amended draft report, put to a vote on 26 May 2015, was rejected. Negotiations have come to a stand still since Autumn 2016.
  • Council: The ECOFIN Council adopted its General Approach on 19 June 2015.
  • On 3 July 2018, the Commission withdrawed the Commission proposal and the legislative process is therewith abandoned.

Contact

Association des Banques et Banquiers, Luxembourg

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Monday to Friday from 8:00 to 17:30.