EU BANKING SUPERVISION ROEL THEISSEN. 6 9 international Publishing

Transcription

1 EU BANKING SUPERVISION ROEL THEISSEN 6 9 international Publishing

2 Opening Remarks xi Part A Overview 1 An Overall Picture of Current Banking Supervision 1 2 The Legislative Response to the Subprime Crisis and the Origins of the Current Prudential Regime Introduction The Origins and Future of the Capital Requirements Directive (CRD) The Wider Policy Response to the Subprime Crisis 60 3 Policy and Legal Basis of Banking Supervision Introduction Economic, Legal or Accountancy? Who Sets Banking Supervision Standards? Legal Basis of EU Supervision Regulation National Implementation - Minimum Harmonisation, Goldplating and National Discretions 112 Part B Bank 4 WhatisaBank? Introduction What Do Banks Do? Why Supervision of Banks? The CRD Definition of a Bank Government Banks and Exempted Banks Market Access Introduction License Requirements Cross-Border Market Access in the EU Market Access by Mergers and Acquisitions of Qualifying Holdings 259 v

3 5.5 Cross-Border Market Access and Third Countries Prohibition to Receive Deposits or Other Repayable Funds from the Public 280 Part C Ongoing Requirements 6 Quantitative Supervision - Outline And Underpinnings Introduction 2^7 6.2 The Solvency Ratio and Other Financial Buffer Requirements Standard and Self-Developed Models for Calculating Risk Accounting Standards (Transparency, Consolidation, Valuation and Original Own Funds) Procyclicality Quantitative Requirements - Capital and own Funds Introduction to CRD Financial Buffers Five CRD-Definitions - One Numerator One Solvency Ratio Numerator - Three Tiers Quantitative Requirements - Credit Risk Introduction Standardised Approach Foundation and Advanced IRE Derivatives and Related Products in the Standardised and the IRE Approach (Counterparty Credit Risk) Credit Risk Protection Securitisations, Covered Bonds and Syndicated Loans Quantitative Requirements - Market Risk Introduction The Trading Book Standard Treatment of Different Market Risks Internal Model Approach (and Scope) Market Risk Protection Quantitative Requirements - Operational Risk Introduction 10.2 Basic Indicator Approach Standardised Approach and Alternative Standardised Approach 550 vi

4 10.4 Advanced Measurement Approach (AMA) Operational Risk Protection in the AMA Quantitative Requirements - Large Exposures Introduction Large Exposures Regime Limitations on Qualified Holdings Outside Financial Sector Liquidity Requirements Introduction Quantitative Requirements on Liquidity? Organisational Requirements Introduction Who is Responsible for What? Organisational Requirements on All Banks Additional Requirements for All Banks that Qualify as Investment Firms Additional Requirements for Banks that Apply Internal Models to Calculate Quantitative Requirements Stress Testing in Pillar 1, Pillar 2, and in EBA Own and Supervisory Assessment Process (Pillar 2) Introduction ICAAP - the Banks Own Assessment SREP - the Supervisory Review Pillar 3 Disclosure By Banks Introduction Pillar Conductof Business Supervision Introduction Restrictions on Behaviour in Investment Markets Market/System Integrity (Market Abuse, AML/CFT) Trading Venue Safeguards Disclosure Obligations to Clients and Markets Customer Protection on Financial Products 747 vii

5 17 Consolidated and Solo Requirements Introduction Level of Application - Solo/Consolidated Parents of EU Banking Groups Financial Conglomerates - Additional Consolidation and Additional Solo Requirements Third Country Parents or Subsidiaries Groups of Cooperative/Mutual Banks Terminating a Bank - Crisis Management Introduction Systemically Important Financial Institutions (Too Big To Fail') Supervision When a Bank Is in Crisis Lender of Last Resort and State-Aid (The Role of Central Banks and Governments) Guarantee funds Prudential Banking Supervision in the Liquidation Process Non-Bank Prudential Regimes - A Comparison Introduction Non-Bank Investment Firms Electronic Money Institutions and Payment Institutions Insurers Collective Investment (UCITS/AIFM/Pension Funds) 921 Part D Prudential Supervisors 20 Rights and Obligations of the Prudential Supervisor Introduction Investigative Instruments - Information, Secrecy and Data Protection Corrective Instruments - Prevention, Intervention or Punishment Human Rights Limitations Administrative Limitations on Supervisory Powers Delegation of Supervisory Tasks and/or of Supervisory Responsibilities Supervisory Disclosure 1005 viii

6 21 Domestic and Cross-Border Institutional Set-Up Introduction Domestic Organisation and Cooperation Constitutional Issues for EBA and for a Eurozone Supervisor Cross-Border Cooperation in the European Banking Authority (EBA) by National and Future Cross-Border Supervisors General Cross-Border Practical Cooperation Home Host Cooperation Regarding the Same Legal Entity Colleges (Home Host) Cooperation on Entities in the Same Group Cooperation with Third Countries Funding Civil Liability Financial stability Introduction ESCB/ECB - Institutional Aspects Central Banks'Monetary Policy Oversight and Supervision of Payment, Trading and Delivery Systems Macroprudential Supervision 1166 Part E Legislative Process 23 The EU Legislative Process for Banking Supervision Introduction The Formal Legislative Process For Banking Legislation: the TFEU Adapted Legislative Process in the Financial Sector (Lamfalussy/Larosiere) 1197 Acronyms and Definitions 1225 Index 1227