Peter Spicka, Senior Adviser for Banking Supervision and Financial Stability
The views expressed in this presentation are those of the author and do not necessarily reflect the official views of the Deutsche Bundesbank
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Institutional developments worldwide and in the EU with regard to financial stability презентация
Содержание
- 1. Institutional developments worldwide and in the EU with regard to financial stability
- 2. Financial stability framework Program overview 26/04/2016 Slide
- 3. Overview 26/04/2016 Slide Strengthened macro-prudential
- 4. Global committees and standard setters Strengthened macro-prudential perspective 26/04/2016 Slide
- 5. Global committees and standard setters Strengthened macro-prudential
- 6. Global committees and standard setters Strengthened macro-prudential perspective 26/04/2016 Slide
- 7. Overview 26/04/2016 Slide Strengthened macro-prudential
- 8. Establishment of the European Systemic Risk Board
- 9. Establishment of the European Systemic Risk Board Organisation 26/04/2016 Slide
- 10. European Systemic Risk Board Tasks
- 11. European Systemic Risk Board Tasks 26/04/2016
- 12. Overview 26/04/2016 Slide Strengthened macro-prudential
- 13. The banking union in Europe Concept 26/04/2016 Slide
- 14. Conceptual background of the banking union Lessons
- 15. Conceptual background of the banking union Contagion
- 16. Conceptual background of the banking union Milestones of the European banking union 26/04/2016 Slide
- 17. New institutional framework for micro and macro-prudential supervision in EU Institutional perspective 26/04/2016 Slide
- 18. New institutional framework for micro and macro-prudential
- 19. New institutional framework for micro and macro-prudential
- 20. Single Supervisory Mechanism in Europe Legal and operational framework 26/04/2016 Slide
- 21. Single supervisory mechanism in Europe Division of
- 22. Methodology for classifying supervised entities What makes a bank significant? 26/04/2016 Slide
- 23. Distribution of tasks within the SSM Overview 26/04/2016 Slide Source: ECB (2014)
- 24. Single supervisory mechanism (SSM) Functioning of the
- 25. Single supervisory mechanism (SSM) Significant supervised entities in Germany 26/04/2016 Slide
- 26. Single supervisory mechanism (SSM) Framework for supervision
- 27. Supervision of LSIs Priorisation of LSIs 26/04/2016 Slide
- 28. Supervision of LSIs Requirements for reporting to the ECB 26/04/2016 Slide
- 29. Single supervisory mechanism (SSM) Supervisory priorities 2016 26/04/2016 Slide Source: ECB (2016)
- 30. Overview 26/04/2016 Slide Strengthened macro-prudential
- 31. European Central Bank as a macro-prudential authority
- 32. European Central Bank as a macro-prudential authority
- 33. European Central Bank as a macro-prudential authority
- 34. Overview 26/04/2016 Slide Strengthened macro-prudential
- 35. Résumé Institutional set-up financial stability – European
- 36. References Council Regulation (EU)
- 37. Thank you very much for your attention! Contact: Peter.Spicka@bundesbank.de
Financial stability framework
Program overview 26/04/2016 Slide
Слайд 1Institutional developments worldwide and in the EU
with regard to financial
stability
Слайд 3Overview
26/04/2016
Slide
Strengthened macro-prudential perspective of global committees and standard setters
Establishment of
the European Systemic Risk Board
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
Слайд 4Global committees and standard setters
Strengthened macro-prudential perspective
26/04/2016
Slide
Слайд 5Global committees and standard setters
Strengthened macro-prudential perspective
26/04/2016
Slide
G 20
- International forum for
cooperation on global economic and financial issues; established 1999
- Policy coordination, promoting financial regulations, modernizing international financial infrastructure
- Policy coordination, promoting financial regulations, modernizing international financial infrastructure
FSB
- Financial Stability Board; established 2009 as successor of FSF
- Coordinate work of national financial authorities and standard setting bodies, develop and promote implementation of effective regulatory and supervisory policies in interest of financial stability
Basel Committee
Forum for regular cooperation on banking supervisory issues, e.g. Basel II and III
Global regulation framework for more resilient banks and banking systems
International framework for measurement, standards and surveillance of liquidity risk
EU
Transposition into EU law via EU Directives and Regulations
- Implementation into national law
- Modification of regulations
Germany
Слайд 6Global committees and standard setters
Strengthened macro-prudential perspective
26/04/2016
Slide
Слайд 7Overview
26/04/2016
Slide
Strengthened macro-prudential perspective of global committees and standard setters
Establishment of
the European Systemic Risk Board
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
Слайд 8Establishment of the European Systemic Risk Board (ESRB) Lessons from the financial
crisis
26/04/2016
Slide
Слайд 10European Systemic Risk Board
Tasks
Responsible for macro-prudential oversight of the financial
system within the EU in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU that arise from developments within the financial system and taking into account macro-economic developments
Establishes link between micro-prudential supervision and macro economy
Brings the systemic component into financial supervision
Establishes link between micro-prudential supervision and macro economy
Brings the systemic component into financial supervision
26/04/2016
Slide
Слайд 11
European Systemic Risk Board
Tasks
26/04/2016
Slide
(1) Input gathering and analysis
(2) Assessment
(3) Policy
response
Identification,
assessment and
prioritisation of
risks
Warnings and recommendations
Collection and analysis of information
ESRB member organisations
Слайд 12Overview
26/04/2016
Slide
Strengthened macro-prudential perspective of global committees and standard setters
Establishment of
the European Systemic Risk Board
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
Слайд 14Conceptual background of the banking union
Lessons from the financial crisis
Lessons from
the financial crisis kick-started work on the European banking union
Supervisory structures previously in place were no longer adequate to deal with highly interconnected European financial markets
Banking supervision primarily carried out at national levels makes it difficult to identify all risks of cross-border banking groups
One of the overarching goals is to loosen the close ties between bank and sovereign risks
Supervisory structures previously in place were no longer adequate to deal with highly interconnected European financial markets
Banking supervision primarily carried out at national levels makes it difficult to identify all risks of cross-border banking groups
One of the overarching goals is to loosen the close ties between bank and sovereign risks
26/04/2016
Slide
Слайд 15Conceptual background of the banking union
Contagion channel between sovereigns and banks
26/04/2016
Slide
Source: ESRB (2015)
Слайд 16Conceptual background of the banking union
Milestones of the European banking union
26/04/2016
Slide
Слайд 17New institutional framework for micro and macro-prudential supervision in EU Institutional
perspective
26/04/2016
Slide
Слайд 18New institutional framework for micro and macro-prudential supervision in EU
Policy perspective
26/04/2016
Slide
Source: Deutsche Bundesbank (2014)
Слайд 19New institutional framework for micro and macro-prudential supervision in EU
Country perspective
26/04/2016
Slide
Source: ECB (2016)
Слайд 21Single supervisory mechanism in Europe Division of tasks between national and European
level
26/04/2016
Slide
Слайд 22Methodology for classifying supervised entities
What makes a bank significant?
26/04/2016
Slide
Слайд 24Single supervisory mechanism (SSM)
Functioning of the Joint Supervisory Teams
26/04/2016
Slide
Source: ECB
(2015)
Слайд 25Single supervisory mechanism (SSM)
Significant supervised entities in Germany
26/04/2016
Slide
Слайд 26Single supervisory mechanism (SSM)
Framework for supervision of less significant institutions (LSI)
26/04/2016
Slide
Source: ECB (2015)
Слайд 29Single supervisory mechanism (SSM)
Supervisory priorities 2016
26/04/2016
Slide
Source: ECB (2016)
Слайд 30Overview
26/04/2016
Slide
Strengthened macro-prudential perspective of global committees and standard setters
Establishment of
the European Systemic Risk Board
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
Слайд 31European Central Bank as a macro-prudential authority Macroprudential policy and oversight in
Europe: EU, ECB and ESRB
General responsibility for EU-wide policy measures lies with European Commission
General responsibility for country-specific policy measures lies with national authorities
ECB can tighten macroprudential requirements
- Notification of Member State 10 working days prior to decision
- Member state has 5 working days to object
ESRB: macroprudential surveillance on EU level
26/04/2016
Slide
Слайд 32European Central Bank as a macro-prudential authority Macroprudential policy in Europe: the
role of the ECB
European Central Bank (ECB)
Additional tasks within its new responsibility for banking supervision in Europe
Macroprudential tasks according to Article 5 SSM regulation
- Regional responsibility: euro area and opt-in countries
- Sectoral responsibilities: banks
Intensification of national macroprudential measures
- Direct approach
- Counteracting 'inaction bias'
26/04/2016
Slide
Слайд 33European Central Bank as a macro-prudential authority Macroprudential oversight in Europe: the
role of the ESRB
European Systemic Risk Board (ESRB)
Central EU body for macroprudential oversight and policy
- Regional competence: 29 EU Member States
- Sectoral competence: all financial intermediaries
Objectives and tasks
- Identification, surveillance and limitation of systemic risk
- Instrument: warnings and recommendations
--> comply or explain, indirect approach
Addressees: EU institutions or EU member states
Comply or explain: Addressee of a recommendation is obliged to inform within a limited time period how he wants to implement the recommendation or why he does not intend to implement it
26/04/2016
Slide
Слайд 34Overview
26/04/2016
Slide
Strengthened macro-prudential perspective of global committees and standard setters
Establishment of
the European Systemic Risk Board
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
The banking union in Europe
- Single Supervisory Mechanism
- Single Resolution Mechanism
The European Central Bank as a macro-prudential authority
Résumé
Слайд 35Résumé
Institutional set-up financial stability – European perspective
26/04/2016
Slide
Source: German Council of
Economic Experts (2015)
Слайд 36References
Council Regulation (EU) No 1024/2013 of 15 October 2013, L287/63
Deutsche Bundesbank,
Monthly Report, various issues
European Banking Authority, Annual Report, various issues
European Central Bank, Annual Report on Supervisory Activities, March 2015
European Central Bank, Banking Supervision, SSM Priorities 2016, 2016
European Central Bank, Guide to Banking Supervision, November 2014
European Systemic Risk Board, ESRB report on the regulatory treatment of sovereign exposures, March 2015
German Council of Economic Experts, Annual Report, various issues
Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014, L 141/1
European Banking Authority, Annual Report, various issues
European Central Bank, Annual Report on Supervisory Activities, March 2015
European Central Bank, Banking Supervision, SSM Priorities 2016, 2016
European Central Bank, Guide to Banking Supervision, November 2014
European Systemic Risk Board, ESRB report on the regulatory treatment of sovereign exposures, March 2015
German Council of Economic Experts, Annual Report, various issues
Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014, L 141/1
26/04/2016
Slide
