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Quarterly regulatory reports

Report on major regulatory developments during the quarter and expected developments for the next quarter

Quarterly reports prepared by Management Solutions compile regulatory developments for the quarter and anticipate major changes in regulations for the following period. They are structured as follows: executive summary, which contains references to the most important regulatory changes for the period; forthcoming publications, providing details of documents that will be published during the next quarter, next year and in the longer term; and the body of the report, made up of a collection of summaries of relevant publications for the quarter.

List of Quarterly regulatory reports released.

Regulation outlook 3Q17
Available in: english - spanish
During this quarter the FBS published principles on the internal TLAC of G-SIBs. At European level, the EBA published Final Guidelines on internal governance and on the assessment of the suitability of the management body, and a Consultation Paper on Guidelines regarding the disclosure of information under IFRS 9 transitional arrangements. In Spain, should be noted that the Bank of Spain (BdE) approved the Circular 1/2017 on the Risk Information Centre (CIR).

Regulation outlook 2Q17
Available in: english - spanish
During the second quarter of 2017, the EBA published final Guidelines on credit risk management practices and accounting for expected credit losses (ECL). At domestic level, the Bank of Spain published a Draft Circular aimed to adapt the current accounting framework of the Spanish credit institutions to IFRS 9 and IFRS 15. Further, the Spanish Government published a Draft Law on personal data protection (APLOPD), to adapt the legislation on this matter to the EU framework.


Regulation outlook 1Q17
Available in: english - spanish
In the first quarter of 2017, the BCBS published final standards on the regulatory treatment of accounting provisions for an interim period, and a final document on disclosure requirements which represents the second phase of the BCBS’ Pillar 3 review. In the SSM framework, the ECB issued Guides on NPL, TRIM, ICAAP and ILAAP, and announced that it will conduct a stress test focused on interest rate changes risk the banking book (IRRBB).

Regulation outlook 4Q16
Available in: english - spanish
Special mention should be made of the reform package of the financial sector published by the European Commission (EC) during the last quarter of 2016, which aims to introduce into EU law, among other requirements, several internationally agreed standards which are elements of the Basel III agenda. Furthermore, the EC endorsed IFRS 9 into the EU as adopted by the IASB.

Regulation outlook 3Q16
Available in: english - spanish
During this quarter, the EBA published the results of the 2016 EU-wide stress test, as well as an information update on how these results inform the SREP. Moreover, the EBA also released several technical standards related to credit risk. Further, the ECB launched a public consultation on guidance to banks on non-performing loans (NPLs). In USA, the Fed proposed to modify its capital plan and stress testing rules.

Regulation outlook 2Q16
Available in: english - spanish
During this quarter, the BCBS published the final version of the standards on the interest rate risk in the banking book (IRRBB). At the European level, the European Commission passed a Delegated Regulation on the minimum requirement for own funds and eligible liabilities (MREL). In Spain, the Bank of Spain approved the Circular 4/2016, which updates the Circular 4/2004, mainly its Annex IX.

Regulation outlook 1Q16
Available in: english - spanish
In the first quarter of 2016, the BCBS published the final document establishing a revised market risk framework, a consultative document which sets a single method for calculating capital requirements for operational risk and a consultation document that introduces constraints on the use of the IRB approach for credit risk. In Spain, the Bank of Spain issued a Proyecto de Circular which updates the Circular 4/2004, mainly its Annex IX.

Regulation outlook 4Q15
Available in: english - spanish
The FSB has published the final rule on the Total Loss-Absorbing Capacity (TLAC). Moreover, the BCBS has issued the second consultative document on the revision to the standardised approach for credit risk. In the EU, the EBA has issued the stress test 2016 draft methodology, and two sets of draft guidelines regarding stress test and information on the ICAAP and ILAAP.

Regulation outlook 3Q15
Available in: english - spanish
During this quarter, the BCBS has published a consultative document on the review of the Credit Valuation Adjustment (CVA). The EBA has specified several aspects with regard to the definition of default. Regarding local regulation, the Bank of Spain has published a Proyecto de Circular that will complete the transposition of the CRD IV/CRR, and the Fed has approved the final rule that establishes capital surcharges for Global Systemically Important Banks (G-SIBs).

Regulation outlook 2Q15
Available in: english - spanish
During this quarter, the BCBS has published a consultative document proposing to modify the treatment of the interest rate risk in the banking book (IRRBB). Moreover, a new impulse has been given to the SRM through several publications made by the EBA related to the Bank Recovery and Resolution Directive (BRRD) and the approval of the Ley de recuperación y resolución de entidades in Spain.

Regulation outlook 1Q15
Available in: english - spanish
In the first quarter of 2015, the BCBS published a Consultative Paper in which the expected loss models are addressed for the first time for supervisory purposes. In Spain, the Real Decreto 84/2015 finalises the CRD IV transposition into the Spanish national law.

Regulation outlook 4Q14
Available in: english - spanish
The most relevant publications of this quarter were the total loss absorbing capacity (TLAC) requirement, and the results of the Comprehensive Assessment and the Stress Test.

Regulation outlook 3Q14
Available in: english - spanish
In this quarter, the regulatory trend in Europe has been driven by the accomplishment of the Comprehensive Assessment of the ECB and, in particular, by the European banks stress test.

© GMS Management Solutions, S.L., 2017. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.