On Wednesday 6 September, the European Commission submitted a draft delegated act setting out criteria for defining financial entities active in ‘shadow banking’, which European banks will have to take into account when disclosing their exposures to this opaque banking system.
Prepared in accordance with the Capital Requirements Regulation (575/2013) introducing banking prudential requirements, this delegated act will make it possible to harmonise and better compare the data published by European banks, according to the European Union institution. It will also provide supervisors with more accurate data on the risks to which the EU’s regulated banking sector is exposed.
The draft delegated act sets out the criteria that will allow financial entities established in third countries not to be considered as part of the opaque banking sector.
The European Parliament and the Council of the EU have three months to assess the draft act.
See the text of the delegated act: https://aeur.eu/f/8ge ; and its annex: https://aeur.eu/f/8gf (Original version in French by Mathieu Bion)