The ECB produces a Working Paper on the topic of the Low carbon Transition, Climate Commitments and the impacts on Credit Risk. This is a rather technical essay, focusing on the following topic: "whether and how two key measures of firm-level credit risk – credit ratings issued by rating agencies and the market-implied distance-to-default – [...]
The EBA discloses detailed bank-by-bank data for the reference dates of 30 September 2020, 31 December 2020, 31 March 2021 and 30 June 2021. Information collected via the EBA EUCLID platform is published at the highest level of consolidation for 120 banks across 25 countries of the European Union (EU) and the European Economic Area [...]
The ECB report provides observations following its Supervisory Review of the self-assessments and implementation plans for management and disclosure of the Climate and Environmental risks of banks under its supervision. The report provides a picture of the current state and direction of travel of C&E risk management in the banking sector, in the light of [...]
The European Commission consultation is open to comment until 4th February 2022. The focus of this consultation is on: 1) the impact of the EU framework on the quality and reliability of corporate reporting, including the 3 pillars of corporate governance, audit and supervision. 2) Corporate Governance in the context of reporting 3) Audit effectiveness, [...]
The ESAs (EBA - EIOPA - ESMA) have been empowered to develop draft RTS on taxonomy-related product disclosures. Specifically, the ESAs have been empowered to develop further obligations to the SFDR product disclosures where the product makes sustainable investments contributing to environmental objectives. In line with the ESAs’ empowerments, the draft RTS have been developed [...]
The ECB publishes a document describing the main characteristics of the 2022 climate risk stress test exercise and providing banks with guidance on how to conduct the exercise. There are 2 main chapters: • Chapter 2 which sets out the process for the banks’ submissions and provides a high-level overview of the quality assurance process [...]
The ECB publishes the results of its economy-wide climate stress test, spanning more than four million firms worldwide and 1,600 euro area banks under three different climate policy scenarios. The results highlight a couple of major conclusions: 1) Firms and banks will benefit from early adoption of green policies and a transition plan towards a [...]
30/07/2021 The adverse scenario has an impact of 485 bps on banks’ CET1 fully loaded capital ratio (497 bps on a transitional basis), leading to a 10.2% CET1 capital ratio at the end of 2023 (10.3% on a transitional basis). The adverse stress test scenario was set by the ECB/ESRB and covers a three-year time [...]
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