Overall view measures and initiatives

Date	Content	Source	Countries
continually updated	Technical notes on effects on accounting and auditing The IDW has published technical notes dealing with the consequences of the coronavirus on accounting (HGB/IFRS). In particular, the technical note part 2 is of importance, as it addresses in detail the proper presentation of the recoverability of financial instruments with regard to COVID-19-related default risks.	Institut der Wirtschaftsprüfer	Germany
continually updated	Policy measures in response to the COVID-19 pandemic ESRB offers a regularly updated Excel spreadsheet with information on the policy measures taken by member states, EU institutions and national authorities in response to the coronavirus (COVID-19) pandemic.	European Systemic Risk Board	Europe
continually updated	FCA information for firms on coronavirus (Covid-19) response Our rules give firms the ability to consider their arrangements and customers’ circumstances. We welcome firms reviewing their current arrangements to address the evolving situation while managing the risks to their employees, customers and the impact on the market.	Financial Conduct Authority	United Kingdom
continually updated	Current information from BoE The BoE summarizes its responses to COVID-19	Bank of England	United Kingdom
continually updated	FAQ on ECB supervisory measures Depending on developments ECB answers frequently asked questions regarding its measures in reaction to COVID-19.	European Central Bank	Europe
continually updated	Current information from BaFin BaFin continuously publishes new information on COVID-19 measures taken by the relevant European institutions and BaFin itself. In addition, frequent questions arising in connection with COVID-19 are answered.	Bundesanstalt für Finanzdienstleistungsaufsicht	Germany
continually updated	Current information from the FMA The FMA continuously publishes new information on COVID-19 measures taken by the relevant European institutions and by the FMA itself	Österreichische Finanzmarktaufsicht	Austria
05/11/2020	Extension of the SNB-COVID-19 refinancing facility to include cantonal guarantees and start-up solidarity guarantees Now, claims secured by cantonal guarantees or credit default guarantees are also permitted as collateral, provided these have been issued to cushion the economic consequences of the COVID-19 pandemic. Receivables that are secured by the federal government's start-up solidarity guarantees in cooperation with the cantons are also accepted as collateral.	Schweizerische Nationalbank	Switzerland
05/07/2020	IAIS facilitates global coordination of financial stability and policyholder protection during COVID-19 crisis IAIS cautions against initiatives seeking to require insurers to retroactively cover Covid-19 related losses, such as business interruption, that are specifically excluded in existing insurance contracts. Requiring insurers to cover such claims could create material solvency risks and significantly undermine the ability of insurers to pay other types of claims.	International Association of Insurance Supervisors	Global
05/07/2020	Statement by the PRA on prioritization in light of COVID-19 This statement sets out further details of the PRA's plans to help firms maintain their safety and soundness and deliver the critical functions they provide to the economy. Re-prioritizations have been agreed upon regarding the following areas of work: climate change, LIBOR transition, insurance stress test 2019 and stressed VAR.	Bank of England	United Kingdom
05/07/2020	Conversion of Pillar 2A capital requirements from RWA percentage to a nominal amount In response to the economic shock from COVID-19, we are alleviating unwarranted pressure on firms by setting all Pillar 2A requirements as a nominal amount, instead of a percentage of total Risk Weighted Assets (RWAs).	Bank of England	United Kingdom
05/07/2020	Statement by the BoE and PRA on resolution measures and COVID-19 The BoE and the PRA have announced changes to resolution measures aimed at alleviating operational burdens on PRA-regulated firms in response to the COVID-19 outbreak. The Bank has also provided an update for firms on the Minimum Requirement for Own Funds and Eligible Liabilities (MREL).	Bank of England	United Kingdom
05/06/2020	ESMA reminds firms of conduct of business obligations under MiFID II ESMA is issuing a public statement on the risks for retail investors when trading under the highly uncertain market circumstances due to the COVID-19 pandemic. ESMA also reminds investment firms of the key conduct of business obligations under MiFID when providing services to retail investors.	European Securities and Markets Authority	Europe
05/04/2020	IASB proposes deferring IAS 1 amendments’ effective date due to COVID-19 The Board has proposed to defer by one year the effective date of Classification of Liabilities as Current or Non-current, which amends IAS 1 Presentation of Financial Statements. In response to the COVID-19 pandemic, the Board is proposing to provide companies with more time to implement any classification changes resulting from the amendments by deferring the effective date by one year to annual reporting periods beginning on or after January 1, 2023.	International Accounting Standards Board	Global
05/04/2020	Statement on credit risk mitigation eligibility and leverage ratio treatment of loans under the Bounce Back Loan scheme (BBLS) This statement sets out the PRA's observations on the risk-weighted treatment of exposures under the UK Government’s BBLS and a related change to the UK leverage ratio framework.	Bank of England	United Kingdom
05/04/2020	Joint RTS on amendments to the bilateral margin requirements under EMIR The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs), in response to the COVID-19 outbreak have published joint draft Regulatory Technical Standards (RTS) to amend the Delegated Regulation on the risk mitigation techniques for non-centrally cleared OTC derivatives (bilateral margining), under the European Markets Infrastructure Regulation (EMIR), to incorporate a one-year deferral of the two implementation phases of the bilateral margining requirements.	European Banking Authority	Europe
05/04/2020	EBA launches additional EU-wide transparency exercise The EBA launched an additional EU-wide transparency exercise to provide market participants with updated information on the financial conditions of EU banks as of December 31, 2019, prior to the start of the COVID-19 pandemic. The EBA expects to publish the results of this exercise at the beginning of June.	European Banking Authority	Europe
05/02/2020	Updating the TFSME to reflect HMT’s new Bounce Back Loans Scheme The BoE announced a change to the Term Funding Scheme with additional incentives for SMEs (TFSME) to support HM Treasury’s Bounce Back Loans Scheme (BBLS).	Bank of England	United Kingdom
04/30/2020	EIOPA revises its timetable for advice on Solvency II Review until end December 2020 EIOPA, in close coordination with the European Commission, has decided to deliver its advice to the European Commission at end December 2020, to take into account the importance of assessing the impact of the current Covid-19 situation on the Solvency II Review.	European Insurance and Occupational Pensions Authority	Europe
04/30/2020	ECB recalibrates targeted lending operations (TLTRO III) to further support real economy Interest rate on all TLTRO III reduced by 25 basis points to -0.5% from June 2020 to June 2021. For banks meeting the lending threshold of 0% introduced on 12 March 2020, the interest rate can be as low as -1%.	European Central Bank	Europe
04/30/2020	ECB announces new pandemic emergency longer-term refinancing operations (PELTROs) The PELTROs will be conducted as fixed rate tender procedures with full allotment. The operations will be offered at highly accommodative terms. The interest rate will be 25 basis points below the average rate applied in the Eurosystem’s main refinancing operations (currently 0%) over the life of the respective PELTRO.	European Central Bank	Europe
04/30/2020	Credit assessment for federally guaranteed loans within the framework of the COVID-19 aid package On April 30, 2020, the FMA sent a letter to the Austrian banking industry concerning the credit assessment of credit institutions in connection with federal guarantees due to the COVID-19 pandemic.	Österreichische Finanzmarktaufsicht	Austria
04/29/2020	Letter to the WKÖ about recent EBA publications Opinion on the application of the supervisory framework on targeted aspects in the area of market risk and the opinion on additional supervisory measures due to COVID-19	Österreichische Finanzmarktaufsicht	Austria
04/28/2020	Commission adopts banking package to facilitate lending to households and businesses in the EU The Commission proposes exceptional temporary measures to alleviate the immediate impact of coronavirus-related developments, by adapting the timeline of the application of international accounting standards on banks' capital, by treating more favorably public guarantees granted during this crisis, by postponing the date of application of the leverage ratio buffer and by modifying the way of excluding certain exposures from the calculation of the leverage ratio.	European Commission	Europe
04/27/2020	Statement on the regulatory treatment of the UK CBILS and the UK CLBILS HM Treasury has announced changes to UK Covid-19 business interruption loan schemes.	Bank of England	United Kingdom
04/24/2020	IASB consults on amendment to leases Standard (IFRS 16) Exposure draft COVID-19-related rent concessions, which proposes an amendment to IFRS 16, is open for public comment until May 8, 2020.	International Accounting Standards Board	Global
04/24/2020	Extension of the Contingent Term Repo Facility (CTRF) The Bank of England announced that it will continue to offer 3-month and 1-month term Contingent Term Repo Facility (CTRF) operations on a weekly basis through May 2020, with the final operation scheduled on May 29.	Bank of England	United Kingdom
04/22/2020	ECB takes steps to mitigate impact of possible rating downgrades on collateral availability The Governing Council of the ECB today adopted temporary measures to mitigate the effect on collateral availability of possible rating downgrades resulting from the economic fallout from the coronavirus (COVID-19) pandemic. The decision complements the broader collateral easing package that was announced on April 7, 2020.	European Central Bank	Europe
04/22/2020	EBA provides further guidance on the use of flexibility in relation to COVID-19 and calls for heightened attention to risks Following up on its strategic communications of 12th, 25th, 31st March and 2nd April, the EBA provides further clarity on how additional flexibility will guide supervisory approaches in relation to market risk, the Supervisory Review and Evaluation Process (SREP), recovery planning, digital operational resilience and ICT risk and securitisation.	European Banking Authority	Europe
04/20/2020	Q&A on the usability of liquidity and capital buffers The PRA published a set of Q&A on the usability of liquidity and capital buffers and their operation as set out in the PRA rules and guidelines and in response to the COVID-19 outbreak.	Bank of England	United Kingdom
04/17/2020	IASB amends work plan and proposes amendment to IFRS 16 The IASB decided to propose an amendment to the leases Standard, IFRS 16, to help companies account for COVID-19-related rent concessions, such as rent holidays. The proposed amendment will complement the educational materials published on April 10, 2020, to support companies applying the Standard.	International Accounting Standards Board	Global
04/17/2020	Application of the APM Guidelines in the context of COVID-19 In its Questions and Answers on Alternative Performance Measures (APMs) guidelines, ESMA has now also commented on how issuers should take into account the impact of the coronavirus pandemic.	European Securities and Markets Authority	Europe
04/17/2020	Statement on principles to mitigate the impact of COVID-19 on the occupational pensions sector EIOPA gave its opinion on the situation of institutions for occupational retirement provision (IORPs) and emphasized the stabilizing role that IORPs can play as an investor with a long-term perspective in the currently unstable markets.	European Insurance and Occupational Pensions Authority	Europe
04/17/2020	Regulation of the ECB concerning the extension of the deadlines for reporting of statistical information COVID-19 may make it necessary to extend deadlines for reporting certain statistical information for a certain period of time. This regulation provides the basis for the decision to do so.	European Central Bank	Europe
04/16/2020	ECB Banking Supervision provides temporary relief for capital requirements for market risk ECB announced a temporary reduction in capital requirements for market risk, by allowing banks to adjust the supervisory component of these requirements.	European Central Bank	Europe
04/15/2020	LKA NRW asks banking industry to check suspicious payments In connection with cases of fraud involving fake websites for applying for instant coronavirus emergency aid, the State Crime Authority of North Rhine-Westphalia (LKA NRW) has informed the banking industry of the federal state.	Bundesanstalt für Finanzdienstleistungsaufsicht	Germany
04/15/2020	ESMA issues positive opinions on short selling bans by Austrian FMA, Belgian FSMA, French AMF, Greek HCMC and Spanish CNMV All five national competent authorities (NCAs) had imposed restrictions in March 2020 which were due to expire in April, and all five decided to renew those restrictions. Following coordination by ESMA, the renewal process has been aligned and the renewal decisions will all be in place until May 18 with the possibility of a further renewal.	European Securities and Markets Authority	Europe
04/15/2020	ECB communication to reporting agents on the collection of statistical information in the context of COVID-19 ECB is determined to continue collecting data of a quality on a timely basis that is fit for purpose, in order to have at its disposal the necessary statistical information to adjust all of its measures, as appropriate, should this be needed to safeguard liquidity conditions in the banking system and to ensure the smooth transmission of its monetary policy in all jurisdictions.	European Central Bank	Europe
04/15/2020	FMA extends ban on short sales in certain financial instruments The FMA extends the temporary ban on short sales of certain financial instruments listed on the Vienna Stock Exchange, which was issued by decree on March 18, 2020, in a modified form until May 18, 2020. While short sales were previously prohibited with regard to each individual transaction, the amended decree now consistently focuses on net short positions.	Österreichische Finanzmarktaufsicht	Austria
04/15/2020	Answering legal enquiries regarding due diligence requirements according to the FM-GwG in granting state development loans The FMA takes a position on the due diligence requirements for the commitment of state development loans in connection with the spread of the SARS-CoV-2 pathogen.	Österreichische Finanzmarktaufsicht	Austria
04/15/2020	FSB publishes report on international cooperation to address the financial stability implications of COVID-19 The report sets out five principles that underpin the official community’s rapid and coordinated response to support the real economy, to maintain financial stability and to minimize the risk of market fragmentation.	Financial Stability Board	Global
04/14/2020	Facilitation for supervised institutions as a result of the COVID-19 crisis FINMA publishes another supervisory notice in the context of the COVID 19 crisis. The simplifications and clarifications of supervisory practice set out in this communication relate to institutions with a license to use the market risk model approach and an extension of the deadline for supervised institutions when introducing new rules in the derivatives area.	Eidgenössische Finanzmarktaufsicht	Switzerland
04/14/2020	ECB supports macroprudential policy measures taken in response to coronavirus outbreak ECB published an overview of the macroprudential measures taken by euro area authorities (including central banks and banking supervisors) in response to the coronavirus outbreak and their impact on banks’ regulatory capital.	European Central Bank	Europe
04/14/2020	FSB Chair updates Finance Ministers and Central Bank Governors on COVID-19 response The letter highlights the twin challenge that the global financial system must respond to in the face of COVID-19: first, a dramatically increased need for credit throughout the global economy to bridge this period of highly restricted activity. Second, marked uncertainty about the value of a wide range of assets, which greatly complicates the operation of markets and the intermediation of this heightened credit need.	Financial Stability Board	Global
04/10/2020	IFRS 16 and COVID-19: accounting for COVID-19-related rent concessions applying IFRS 16 leases The IASB published a statement regarding the application of IFRS 16 leases to rent concessions granted as a result of the coronavirus COVID-19 pandemic. IFRS 16 sets out specific requirements for how to account for some changes in lease payments—for example, those arising from changes in an index or rate used to determine lease payments.	International Accounting Standards Board	Global
04/09/2020	ESMA extends MiFID II/MiFIR transparency review report consultation to June 14, 2020 ESMA has decided to further extend the response date for the consultation on the MiFID II/MiFIR review report on the transparency regime for non-equity instruments and the trading obligation for derivatives to June 14, 2020	European Securities and Markets Authority	Europe
04/09/2020	PRA decision on Systemic Risk Buffer rates In response to the economic shock from COVID-19, the PRA, with the support of the FPC, announced its decision to maintain firms’ Systemic Risk Buffer (SRB) rates at the rate set in December 2019 and will next reassess them in December 2021.	Bank of England	United Kingdom
04/09/2020	EBA guidelines on payment moratoria and the Austrian moratorium pursuant to Section 2 of the 2nd COVID-19 JuBG The FMA clarifies the key points of the EBA guidelines and emphasizes that the Austrian moratorium meets the requirements of the EBA guidelines.	Österreichische Finanzmarktaufsicht	Austria
04/09/2020	Catalog of proposals for changes in the supervisory practice of the FMA/OeNB Answers to questions posed by the Austrian Federal Economic Chamber on the supervisory practices of the FMA/OeNB in connection with COVID-19 agreed upon between the FMA and OeNB	Österreichische Finanzmarktaufsicht	Austria
04/09/2020	The General Board of the ESRB held its 37th regular meeting The Board decided to focus its attention on five priority areas, specifically: implications for the financial system of guarantee schemes and other fiscal measures to protect the real economy; market illiquidity and implications for asset managers and insurers; impact of procyclical downgrades of bonds on markets and entities across the financial system; system-wide restraints on dividend payments, share buybacks and other payouts; liquidity risks arising from margin calls.	European Systemic Risk Board	Europe
04/09/2020	ESMA promotes coordinated action regarding benchmarks external audit requirements ESMA issued a public statement to promote coordinated action by National Competent Authorities (NCAs) regarding the timeliness of fulfilling external audit requirements for interest rate benchmark administrators and contributors to interest rate benchmarks	European Securities and Markets Authority	Europe
04/09/2020	ESMA postpones publication dates for annual non-equity transparency calculations and quarterly SI data ESMA issued a public statement postponing the application of the annual non-equity transparency calculations and the calculations for the systematic internalizer test for derivatives, ETCs, ETNs, emission allowances and structured finance products (SFPs) under MiFID II	European Securities and Markets Authority	Europe
04/09/2020	Deadlines for the publication of periodic reports by fund managers ESMA issued a public statement to promote coordinated action by National Competent Authorities (NCAs) in the context of the COVID-19 pandemic. It concerns the obligations of fund managers to publish annual and half yearly reports in respect of funds they manage, in relation to reporting periods ending from December 31, 2019 up to and including April 30, 2020.	European Securities and Markets Authority	Europe
04/09/2020	HM Treasury and BoE announce temporary extension to Ways and Means facility HM Treasury and BoE have agreed to temporarily extend the use of the government’s long-established Ways and Means (W&M) facility	Bank of England	United Kingdom
04/09/2020	Separation of front-office and back-office functions in the event of specific crisis-related staff shortages The FMA takes a stand on the separation of front-office and back-office functions in the lending process for credit institutions in the supervisory scope of the FMA (LSIs)	Österreichische Finanzmarktaufsicht	Austria
04/08/2020	IOSCO reprioritizes its work program to address impact of COVID-19 This decision means that the work priorities outlined in IOSCO ́s 2020 annual work program were reconsidered.	International Organization of Securities Commissions	Global
04/08/2020	Letter from Credit Union Supervision Team to PRA-regulated credit unions This letter sets out details of a PRA rule modification available to all credit unions from today’s date until January, 1 2021. It explains the PRA’s supervisory focus and priorities for credit unions in this period of stress and reiterates messages on regulatory reporting.	Bank of England	United Kingdom
04/08/2020	Inquiry on COVID-19-3-5 legislation and accounting in the current environment The FMA takes a stand on key issues concerning the application of IFRS 9 in the current environment	Österreichische Finanzmarktaufsicht	Austria
04/08/2020	Interruption and suspension of deadlines during COVID-19 measures Information on the legally prescribed interruption and suspension of deadlines in FMA procedures during COVID 19 measures	Österreichische Finanzmarktaufsicht	Austria
04/07/2020	EIOPA extends deadline for stakeholder group applications EIOPA is currently seeking applications for its two stakeholder groups, the Insurance and Reinsurance Stakeholder Group and the Occupational Pensions Stakeholder Group. EIOPA has decided to extend the deadline for interested stakeholders to submit their application.	European Insurance and Occupational Pensions Authority	Europe
04/07/2020	FINMA publishes further supervisory notification in the context of the COVID-19 crisis In its supervisory notice 03/2020, FINMA announces further relief in the context of the COVID-19 crisis	Eidgenössische Finanzmarktaufsicht	Switzerland
04/07/2020	ECB announces package of temporary collateral easing measures The Governing Council of the ECB adopted a package of temporary collateral easing measures to facilitate the availability of eligible collateral for Eurosystem counterparties to participate in liquidity providing operations, such as the targeted longer-term refinancing operations (TLTRO-III).	European Central Bank	Europe
04/07/2020	Covid-19 measures: LSI recovery plans according to BaSAG In addition to the other COVID-19 measures, the FMA and OeNB have facilitated the updating of the LSI 2020 recovery plans	Österreichische Finanzmarktaufsicht	Austria
04/06/2020	TFSME will open for drawings on April 15, 2020 The Bank of England’s Term Funding Scheme with additional incentives for SMEs will open to drawings on April 15, 2020, sooner than previously anticipated.	Bank of England	United Kingdom
04/03/2020	IOSCO statement on application of accounting standards during the COVID-19 outbreak IOSCO announced that it supported a coordinated approach to the uniform application of IFRS 9 in the COVID-19-crisis.	International Organization of Securities Commissions	Global
04/03/2020	Additional measures to alleviate the impact of COVID-19 The Basel Committee on Banking Supervision sets out additional measures to alleviate the impact of COVID-19 on the global banking system. These measures concern, among others, the expected credit loss accounting, margin requirements for non-centrally cleared derivatives and the global systemically important banks annual assessment.	Basel Committee on Banking Supervision	Global
04/03/2020	Joint FCA and PRA statement on the Senior Managers and Certification Regime We recognize that firms directly affected by coronavirus will need to keep their governance arrangements under review. Where we can, we intend to provide flexibility to FCA and PRA dual-regulated firms.	Financial Conduct Authority	United Kingdom
04/03/2020	Classification of COFAG as a public body Due to the Austrian federal government’s legally standardized funding obligation and pursuant to Article 116 para 4 CRR, the FMA suggests weighing exposures to COFAG like exposures to the central government, i.e. with a risk weight of 0%.	Österreichische Finanzmarktaufsicht	Austria
04/03/2020	Austrian insurance companies: dividends and share buybacks EIOPA and FMA urgently recommend that insurance companies refrain from dividend payments and share buybacks.	Österreichische Finanzmarktaufsicht	Austria
04/03/2020	Market Abuse Regulation: Taking account of the current situation in reporting obligations BaFin assumes that institutions with reporting obligations pursuant to Article 16 (1) and (2) of the Market Abuse Regulation have suitable systems and processes for monitoring market abuse in order to identify and transmit suspicious orders and transactions to BaFin even under the changed working and general conditions.	Bundesanstalt für Finanzdienstleistungsaufsicht	Germany
04/02/2020	ESMA provides clarifications for best execution reports under MiFID II ESMA issued a public statement to clarify issues regarding the publication by execution venues and firms of the general best execution reports required under RTS 27 and 28 of MiFID II, in light of the COVID-19 pandemic.	European Securities and Markets Authority	Europe
04/02/2020	ESMA updates its risk assessment in light of the COVID-19 pandemic ESMA sees a prolonged period of risk to institutional and retail investors due to market corrections and very high risks across the whole of ESMA’s remit.	European Securities and Markets Authority	Europe
04/02/2020	EIOPA publishes an update on other measures impacted by COVID-19 pandemic EIOPA summarizes its actions regarding currently open consultations and requests, public consultations in the process of BoS approval and data requests to financial institutions to start in Q1-Q2.	European Insurance and Occupational Pensions Authority	Europe
04/02/2020	FSB regards some on-site functions as systemically essential These functions include: providing consumer access to cash, electronic payments and other banking and lending services; as appropriate keeping branches and call centers open; processing claims under government support programs; insurance services; risk management; supporting financial operations, such as staffing data and security operations centers; and supporting third-party providers who deliver core services.	Financial Stability Board	Global
04/02/2020	EIOPA urges (re)insurers to temporarily suspend all discretionary dividend distributions and share buy backs This suspension should be reviewed as the financial and economic impact of COVID-19 starts to become clearer. This prudent approach should also be applicable to the variable remuneration policies.	European Insurance and Occupational Pensions Authority	Europe
04/02/2020	BaFin and Bundesbank postpone the LSI stress test planned for 2021 until 2022 The provisional timetable, including the trial run planned for autumn 2020, will be put back one year.	Bundesanstalt für Finanzdienstleistungsaufsicht	Germany
04/02/2020	EBA publishes guidelines on treatment of public and private moratoria Following the publication of its statement on the application of the prudential framework regarding default, forbearance and IFRS9 in light of COVID-19 measures, the EBA published more detailed guidance on the criteria to be fulfilled by legislative and non-legislative moratoria applied before June 30, 2020.	European Banking Authority	Europe
04/01/2020	Call to action for insurers and intermediaries to mitigate the impact of COVID-19 on consumers Among other things, EIOPA asks insurers and intermediaries to provide clear and timely information to consumers on contractual rights, treat consumers fairly, inform consumers about contingency measures and to continue applying product oversight and governance requirements.	European Insurance and Occupational Pensions Authority	Europe
03/31/2020	Countercyclical capital buffer: general ruling to reduce the buffer ratio to 0 percent BaFin has issued a general ruling on the quota for the domestic countercyclical capital buffer. It has reduced the ratio from 0.25 percent to 0 percent as of April 1, 2020.	Bundesanstalt für Finanzdienstleistungsaufsicht	Germany
03/31/2020	Temporary exemptions for banks The FINMA provides the banks with clarifications for dealing with the COVID-19 loans with federal guarantees within the framework of the capital and liquidity requirements, on temporary exemptions relating to the leverage ratio and on risk diversification requirements. FINMA also provides information about the expected credit loss approach under IFRS 9 and its application in the context of the COVID-19 crisis.	Eidgenössische Finanzmarktaufsicht	Switzerland
03/31/2020	EBA provides additional clarity on measures to mitigate the impact of COVID-19 on the EU banking sector The EBA urges for one-month flexibility for reports with remittance dates between March and the end of May 2020. The EBA also called for flexibility in assessing deadlines of institutions' Pillar 3 disclosures. Furthermore, the EBA decided, in coordination with the Basel Committee on Banking Supervision, to cancel the Quantitative Impact Study based on June 2020 data.	European Banking Authority	Europe
03/30/2020	Extension of the Contingent Term Repo Facility (CTRF) 3-month term CTRF operations will continue to run weekly until April 30. In addition, beginning this week there will also be a 1-month term CTRF operation each week, with the final operation scheduled on May 1.	Bank of England	United Kingdom
03/30/2020	Information on deadlines in FMA proceedings during COVID-19 measures Since March 22, 2020, the following applies to deadlines in pending administrative proceedings to which the AVG, the VStG and the VVG are applicable: The deadlines are interrupted until the end of April 30, 2020. This provision shall apply mutatis mutandis to proceedings before the BVwG.	Österreichische Finanzmarktaufsicht	Austria
03/30/2020	ESMA extends deadline for stakeholder group applications The ESMA is currently seeking applicants for its Securities and Markets Stakeholder Group and is extending the deadline for applications to April 9.	European Securities and Markets Authority	Europe
03/27/2020	IFRS 9 and COVID-19 Accounting for expected credit losses applying IFRS 9 Financial Instruments in the light of current uncertainty resulting from the COVID-19 pandemic	International Accounting Standards Board	Global
03/27/2020	FMA recommendation on dividend payments and share buybacks during the COVID-19 pandemic The FMA takes up the recommendation made by the ECB/SSM on March 27, 2020 (ECB/2020/19) regarding dividend payments and share buybacks during the COVID-19 pandemic and applies it in its supervision of less significant institutions (LSIs).	Österreichische Finanzmarktaufsicht	Austria
03/27/2020	EIOPA publishes extraordinary information for Solvency II The EIOPA will carry out extraordinary calculations on a weekly basis to monitor the evolution of the relevant risk-free interest rate term structures (RFR) and the symmetric adjustment to equity risk (EDA).	European Insurance and Occupational Pensions Authority	Europe
03/27/2020	ESMA confirms application date of equity transparency calculations The ESMA has decided to keep the date of application of the transparency calculations for equity instruments of April 1, 2020 unchanged.	European Securities and Markets Authority	Europe
03/27/2020	ESMA issues guidance on financial reporting deadlines The ESMA issued a public statement that national competent authorities should temporarily apply forbearance powers towards issuers who need to delay publication of financial reports beyond the statutory deadline.	European Securities and Markets Authority	Europe
03/27/2020	IAIS extends deadline for data collection on Insurance Capital Standard (ICS) The IAIS will review the 2020 timelines for the implementation of the Holistic Framework for the mitigation of systemic risk in the global insurance sector and will review and adjust the timelines for the data collection for the ICS confidential reporting in 2020, as well as the Aggregation Method data collection.	International Association of Insurance Supervisors	Global
03/27/2020	ECB asks banks not to pay dividends until at least October 2020 The ECB asks banks not to pay dividends or buy back shares during the COVID-19 pandemic. The recommendation concerns dividends for 2019 and 2020. Instead, the ECB expects banks to keep funding households, small businesses and corporations.	European Central Bank	Europe
03/27/2020	Deferral of Basel III implementation The Basel Committee's oversight body (Group of Central Bank Governors and Heads of Supervisions) endorsed a change in the implementation timeline of outstanding Basel III standards. This concerns the leverage ratio framework, G-SIB buffer, standardized and IRB approach for credit risk, the operational and market risk framework, the CVA and revised Pillar 3 disclosure framework as well as the output floor.	Basel Committee on Banking Supervision	Global
03/26/2020	ESMA clarifies position on SFTR backloading The ESMA issued a revised public statement regarding the postponement of the reporting obligations related to securities financing transactions under the Securities Financing Transactions Regulation (SFTR) and under the Markets in Financial Instruments Regulation (MiFIR).	European Securities and Markets Authority	Europe
03/25/2020	ESMA issues guidance on accounting implications of COVID-19 The ESMA has issued a public statement on some accounting implications (e.g. calculation of expected credit losses in accordance with IFRS 9) of the economic support and relief measures adopted by EU Member States in response to the COVID-19 outbreak.	European Securities and Markets Authority	Europe
03/25/2020	FINMA grants exemption for leverage ratio calculation FINMA temporarily allows banks to calculate the leverage ratio without central bank reserves. The measure will initially apply until 07/01/2020.	Eidgenössische Finanzmarktaufsicht	Switzerland
03/25/2020	SNB creates SNB-COVID 19 refinancing facility (CRF) The CRF is unlimited in terms of contributions, and withdrawals can be made at any time. In addition, the SNB submits an application to deactivate the countercyclical capital buffer.	Schweizerische Nationalbank	Switzerland
03/25/2020	EBA provides clarity regarding COVID-19 measures The EBA explains aspects on the functioning of the prudential framework in relation to the classification of loans in default, the identification of forborne exposures, and their accounting treatment. The EBA also reminds financial institutions of their consumer protection obligations, temporarily lifts some reporting obligations and calls on payment service providers to raise their contactless payment thresholds to the legal limit.	European Banking Authority	Europe
03/25/2020	ECB Pandemic Emergency Purchase Programme The ECB published a new announcement regarding its PEPP stating that there is no upper limit for asset purchases	European Central Bank	Europe
03/24/2020	BoE launches Contingent Term Repo Facility In response to financial market conditions the BoE is activating the CTRF—a temporary enhancement to its sterling liquidity insurance facilities.	Bank of England	United Kingdom
03/23/2020	COVID-19 regulatory reporting amendments for UK insurers The BoE outlines the PRA's approach to regulatory reporting for UK insurers in response to COVID-19 and EIOPA's recommendations	Bank of England	United Kingdom
03/20/2020	ESMA sets out approach on MIFIR tick-size regime for systematic internalizers The ESMA issued a public statement to ensure coordinated supervisory actions by national competent authorities on the application of the new tick-size regime under the Markets in Financial Instruments Regulation (MiFIR) and the Investment Firms Regulation (IFR).	European Securities and Markets Authority	Europe
03/20/2020	BoE announces supervisory and prudential policy measures Among others, the Bank's 2020 annual stress test is canceled, the biennial exploratory scenario timetable is amended and the joint Bank / Financial Conduct Authority survey into open-ended funds is postponed.	Bank of England	United Kingdom
03/20/2020	EIOPA extends reporting deadlines The EIOPA has published recommendations on supervisory flexibility regarding the deadline of supervisory reporting and public disclosure by insurance and reinsurance undertakings	European Insurance and Occupational Pensions Authority	Europe
03/20/2020	Basel Committee suspends consultations The Basel Committee on Banking Supervision is suspending consultation on all policy initiatives and postponing all outstanding jurisdictional assessments planned in 2020 under its Regulatory Consistency Assessment Programme.	Basel Committee on Banking Supervision	Global
03/20/2020	ESMA consultations postponed by four weeks EU’s securities markets regulator has decided to extend the response date for all ongoing consultations with a closing date on or after March 16 by four weeks.	European Securities and Markets Authority	Europe
03/19/2020	Extension of deadlines for reporting obligations and resolution planning The FMA is doubling the current response periods for the SREP questionnaires from six to twelve weeks, extending the deadline for replying to the repayment vehicle survey to June 30, 2020, and the procedures (including information gathering) for MREL determination, scheduled for mid-March 2020, will not be initiated until further notice	Österreichische Finanzmarktaufsicht	Austria
03/18/2020	Ban on short selling The FMA has issued a decree prohibiting short sales of certain financial instruments listed on the Vienna Stock Exchange	Österreichische Finanzmarktaufsicht	Austria
03/18/2020	Pandemic Emergency Purchase Programme (PEPP) The ECB announces a new temporary asset purchase programme of private and public sector securities amounting to EUR 750 bn. Purchases will be conducted until the end of 2020 including all asset purchase programme (APP) eligible asset categories.	European Central Bank	Europe
03/12/2020	Operational relief also for LSIs ECB agrees relief measures for banks with BaFin and other national supervisory authorities—BaFin will also apply the ECB’s agreed relief measures to the supervision of less significant institutions (LSIs).	Bundesanstalt für Finanzdienstleistungsaufsicht	Germany
03/12/2020	EU-wide stress test postponed The EBA has decided to postpone the EU-wide stress test exercise to 2021. For 2020, the EBA will carry out an additional EU-wide transparency exercise in order to provide updated information on banks’ exposures and asset quality to market participants.	European Banking Authority	Europe
03/12/2020	Easing of conditions for targeted longer-term refinancing operations (TLTRO III) The ECB decided on more favourable operations to support bank lending, in particular to small and medium-sized enterprises. Among other measures, TLTRO III interest rates are reduced by 25 basis points during the period from June 2020 to June 2021.	European Central Bank	Europe
03/12/2020	Temporary capital and operational relief The ECB will allow banks to operate temporarily below the level of capital defined by the Pillar 2 Guidance (P2G), the capital conservation buffer (CCB) and the liquidity coverage ratio (LCR). ECB also considers enhancement via the appropriate relaxation of the countercyclical capital buffer (CCyB) by national macroprudential authorities. Banks will also be allowed to partially use capital instruments that do not qualify as Common Equity Tier 1 (CET1) capital to meet the Pillar 2 Requirements (P2R).	European Central Bank	Europe
03/11/2020	BoE: Term Funding Scheme with additional incentives for SMEs (TFSME) The TFSME is designed to provide participants with a cost-effective source of funding to support additional lending to the real economy and to ensure that businesses and households benefit from reductions in the Bank Rate	Bank of England	United Kingdom