Implementation of ESRB recommendations

• ESRB/2011/1

  • Recommendation of the European Systemic Risk Board of 21 September 2011 on lending in foreign currencies
  • Assessment of the implementation of Recommendation ESRB/2011/1 

  		Overall assessment
  ESRB/2011/1	Recommendation on lending in foreign currencies	Largely compliant (LC)
  Sub-recommendation	Name	Grade
  A	Risk awareness of borrowers	LC
  B	Creditworthiness of borrowers	LC
  C	Credit growth induced by foreign currency lending	Inaction sufficiently explained (SE)
  D	Internal risk management	SE
  E	Capital requirements	SE
  F	Liquidity and funding	LC
  G	Reciprocity	SE

• ESRB/2011/2

  • Recommendation of the European Systemic Risk Board of 22 December 2011 on US dollar denominated funding of credit institutions
  • Assesment of the implementation of Recommmendation ESRB/2011/2 

  		Overall assessment
  ESRB/2011/2	Recommendation on US dollar denominated funding of credit institutions	Inaction sufficiently explained (SE)
  Sub-recommendation	Name	Grade
  A	Monitoring of US dollar funding and liquidity	SE
  B	Contingency funding plans	SE

• ESRB/2011/3

  • Recommendation of the European Systemic Risk Board of 22 December 2011 on the macro-prudential mandate of national authorities
  • Assesment of the implementation of Recommendation ESRB/2011/3

  		Overall assessment
  ESRB/2011/3	Recommendation on the macro-prudential mandate of national authorities	Fully compliant (FC)
  Sub-recommendation	Name	Grade
  A	Objective	FC
  B	Institutional arrangements	FC
  C	Tasks, powers, instruments	FC
  D	Transparency and responsibility	FC
  E	Independence	FC

• ESRB/2012/1

  • Recommendation of the European Systemic Risk Board of 20 December 2012 on money market funds

• ESRB/2012/2

  • Recommendation of the European Systemic Risk Board of 20 December 2012 on funding of credit institutions
  • Assessment of the implementation of Recommrnfstion ESRB/2012/2 

  		Overall assessment
  ESRB/2012/2	Recommendation on funding of credit institutions	Fully compliant (FC)
  Sub-recommendation	Name	Grade
  A	Monitoring and assessment of funding risks and funding risk management by supervisors	FC
  B	Risk management of asset encumbrance by institutions	FC
  C	Monitoring of asset encumbrance by supervisors	Largely compliant (LC)
  E	Covered bonds and other instruments that generate encumbrance	FC

  Note: Addressee of sub-recommendation D is EBA – European Banking Authority.

• ESRB/2013/1

  • Recommendation of the European Systemic Risk Board of 4 April 2013 on intermediate objectives and instruments of macro-prudential policy 
  • Asessment of the implementaton of Recommendation ESRB/2013/1 

  		Overall assessment
  ESRB/2013/1	Recommendation on intermediate objectives and instruments of macro-prudential policy	Fully compliant (FC)
  Sub-recommendation	Name	Grade
  A	Definition of intermediate objectives	FC
  B	Selection of macro-prudential instruments	FC
  C	Policy strategy	FC

   

• ESRB/2014/1

  • Recommendation of the European Systemic Risk Board of 18 June 2014 on guidance for setting countercyclical buffer rates

• ESRB/2015/1

  • Recommendation of the European Systemic Risk Board of 11 December on recognising and setting countercyclical buffer rates for exposures to third countries

• ESRB/2015/2

  • Recommendation of the European Systemic Risk Board of 15 December 2015 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures

• ESRB/2016/14

  • Recommendation of the European Systemic Risk Board of 31 October 2016 on closing real estate data gaps

• ESRB/2017/6

  • Recommendation of the European Systemic Risk Board of 7 December 2017 on liquidity and leverage risks in investment funds