CRR 'quick fix' enters into force | Regnology

CRR 'quick fix' enters into force ... We provide a unique product and service offering in the area of regulation, ranging from consulting to managed end-to-end ... OurSolutions OurSolutions Weprovideauniqueproductandserviceofferingintheareaofregulation,rangingfromconsultingtomanagedend-to-endservices,fromproprietaryspecialistreportingsoftwaretoongoingtraining.Customersrepresenting7,000firmsworldwide,amongthemlargeinternationalbanks,amajorpartofthelargestEuropeanbanks,leadinginsurancecompaniesaswellassupervisoryauthoritiesandcentralbanks,trustourproductsandservices. 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Findoutmore OurHistory OurCorporateValues OurStandardsofBusinessConduct LeadershipTeam Careers IndustryRecognition Partners Memberships ContactUs CustomerArea Sharethispage Twitter Facebook Xing LinkedIn Email 26.06.2020 Regulation(EU)2020/873oftheEuropeanParliamentandoftheCouncilof24June2020amendingtheamendedCapitalRequirementsRegulation(CRR)asregardscertainadjustmentsinresponsetotheCOVID-19pandemicwaspublishedintheOfficialJournaloftheEUandenteredintoforceonthefollowingday.Theregulation,firstproposedbytheEuropeanCommissionon28April2020,containsexceptionaltemporarymeasures,suchas, ‘re-starting’thetransitionalarrangementstoalleviatetheimpactonownfundsfromexpectedcreditlossprovisioningunderIFRS9; temporarilyextendingtheminimumlosscoveragetreatmentthatiscurrentlyapplicabletonon-performingexposures(NPEs)guaranteedorinsuredbyexportcreditagenciestothoseNPEsarisingbecauseoftheCOVID-19pandemicandcoveredbythevarious(national)guaranteeschemes; modificationoftheoffsettingmechanismassociatedwiththecompetentauthorities’discretiontoallowcreditinstitutionstotemporarilyexcludeexposuresintheformofcentralbankreservesfromthecalculationoftheleverageratio; deferraloftheapplicationdateofthenewleverageratiobufferrequirementforglobalsystemicallyimportantbanksbyoneyearto1January2023;  bringingforwardtheapplicationdate(tothedateofentryintoforceoftherelevantregulatorytechnicalstandards)oftheprovisionsonthecapitalbenefitstreatmentofcertainsoftwareassetsenvisagedintheCRR;an; immediatelyapplying(thatis,withentryintoforceoftheproposedamendingregulation)someofthecapitalbenefitsenvisagedintheCRRbutnotyetapplicable: - theprovisionsoncertainloansbackedbypensionsorsalaries, -therevisedsupportingfactorforsmallandmediumenterprises,and - thenewsupportingfactorforinfrastructurefinance. 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