It has been almost three years since Zanders expanded towards the APAC region by means of establishing the Zanders APAC office in Tokyo. Since the initiation, multiple projects have been successfully finalized and some of them gained attention in international media. One of our clients won the Adam Smith Award 2022 in the category of […]
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The EBA published its 2023 EU-wide stress test draft methodology, templates and template guidance. The published items are launched for discussion with the banking industry. The methodology builds on the 2021 EU-wide stress test and covers all risk areas. Some aspects of the methodology have been improved based on the lessons from the 2021 exercise. […]
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The European Banking Authority (EBA) launched a consultation on its supervisory handbook for the validation of internal ratings based systems. This handbook clarifies the role of the validation function as part of corporate governance, in particular in terms of scope of work and interaction with the credit risk control unit. The handbook does not present […]
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The EBA published four draft principles to support supervisory efforts in assessing the representativeness of data impacted by COVID-19 in internal ratings based (IRB) models. The principles describe how bank should: assess the representativeness of data deal with decreases in IRB risk parameters, deal with default and loss rates observed during the crisis validate and […]
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Earlier this month, the European Central Bank (ECB) raised its key interest rates by an unprecedented 75 basis points in an effort to fight Europe’s inflation that is rapidly approaching 10%. The increase follows the 50 basis point rate hike from July and brings the ECB policy rate in positive territory for the first time […]
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The European Insurance and Occupational Pension Authority (EIOPA) has published a guidance report on integrating customer’s sustainability preferences in the suitability assessment under the Insurance Distribution Directive (IDD). Guidance is provided on: how to help customers understand the concept of ‘sustainability preferences’. how to collect sustainability preferences from customers. how to match customer preferences with […]
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The European Insurance and Occupational Pension Authority (EIOPA) has published a consultation on the advice on the review of the securitisation framework in Solvency II. In October 2021, the European Commission sent a Call for Advice (CfA) to seek assistance to assess the performance rules on capital requirements and liquidity requirements relative to the framework’s […]
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The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published a joint report on the potential effects of climate shocks on the European Financial system. The report shows that climate risks can spread rapidly and can harm insurers, asset managers, and other financial institutions. Additionally, the report gives evidence on the systemic […]
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In addition, EIOPA has published the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA). Since EIOPA believes that undertakings will be impacted by climate-change related physical and transition risks, EIOPA encourages a more forward-looking management of these risks. Currently, undertakings […]
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The European Securities and Markets Authority (ESMA) has responded to the European Financial Reporting Advisory Group’s (EFRAG) consultation on the first draft of the European Sustainability Reporting Standards (ESRS). The draft ESRS are an important element to achieve the Corporate Sustainability Reporting Directive’s (CSRD) ambition to ensure sustainability reporting which is relevant, reliable, comparable and […]
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The EBA, jointly with the European Securities and Markets Authority (ESMA), published the final guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) for investment firms. They set out the common process and criteria for the assessment of the main SREP elements, including: business model; governance arrangements and firm-wide controls; […]
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The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation relating to a draft supervisory statement on differential pricing practices, i.e., pricing techniques in which consumers with similar risk and cost of service characteristics are charged different premiums for the same insurance products. EIOPA’s objective with the statement is to strengthen consumer […]
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