Event 14 Oct. 2022
Curtis Provides Capacity Training to the Government of Uganda
more
Event 21 Sep. 2022
Kalidou Gadio Speaks at AIEN 2022 International Energy Summit
News 16 Dec. 2022
Curtis Trade Team is top ranked in Chambers Asia-Pacific 2023
Event 06 Dec. 2022
George Kahale Lectures on "Key Issues Facing States in ISDS" at Rashtriya Raksha University
News 24 Feb. 2023
Clients Praise Curtis in Chambers Global 2023 Launch
Event 21 Feb. 2023
Susan Maples Speaks at the Green Hydrogen Organisation Webinar Series on Green Hydrogen Contracting
Publications 23 Feb. 2023
Fernando Tupa Publishes Book on Forum-Specific Consent to International Arbitration in Investment Agreements
Event 22 Nov. 2022
Elisa Botero and Fernando Tupa to speak at the XVI International Congress of Arbitration in Lima, Perú
News 27 Sep. 2022
Curtis Boosts Riyadh Office with New Corporate Partner Stuart Davies
News 16 Aug. 2022
Curtis Delivers More Firsts for the Government of Oman in its Defense Against U.S. Trade Measures
Pro Bono 23 Feb. 2023
Curtis Lawyers Successfully Defend Pro Bono Client in Deportation Proceedings
News 06 Mar. 2023
Russia Sanctions at the First Anniversary: An Overview of Current Sanctions in the US, UK, and EU and How Global Companies Can Navigate Evolving and Conflicting Sanctions Regimes
Client Alert 30 Aug. 2022
The EU Adopts the “Maintenance and Alignment” Sanctions Package
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Client Alert 03 Apr. 2020
The alert is available to download HERE.
In response to the Coronavirus crisis, the European Central Bank (ECB), the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) issued numerous statements and clarifications aiming to relieve the (regulatory) burden on banks and other financial institutions so that they can focus on the operational maintenance of their business operations, in particular the provision of credits to both the real economy and consumers.
1. ECB publications
All ECB statements are comprised in a FAQ tool on the ECB website. Important publications of the ECB are:
All measures taken by the ECB are aimed at relieving banks of regulatory burdens while continuing to ensure adequate supervision. Given the tight market situation which threatens the existence of large and small enterprises and entrepreneurs, a functioning credit system is crucial.
2. EBA publications
The EBA has provided a statement on the application of the prudential framework regarding Default, Forbearance and IFRS9 in light of COVID-19 measures:
A sound identification of credit impaired assets on banks´ balance sheets must be ensured at all times. The consistency and comparability of risk indicators is a pre-condition for banks, supervisory authorities and the general public to monitor the effects of the current crisis. In order to be able to properly reflect the actual credit risk in their balance sheets, institutions should therefore not make use of automatic mechanisms when assessing whether there is an increased credit risk.
3. ESMA publications
With regard to the provision of investment services, ESMA has published, inter alia,
In the area of investment services, which are often (also) provided by banks, ESMA aims to ensure that institutions can concentrate on their operational business and that, for example, deadlines for regulatory reporting are handled flexibly. In addition, ESMA adapts to the increased provision of financial services from staff working remotely and interprets supervisory requirements accordingly so that business operations can be maintained.
Attorney advertising. The material contained in this Client Alert is only a general review of the subjects covered and does not constitute legal advice. No legal or business decision should be based on its contents.
Banking and Finance
Finance
Investment Management
Corporate
Mergers and Acquisitions
Thomas Laurer
Partner
Marjena Elizabeth Anderson
Counsel
Jean-Norbert Pontier
Frankfurt
+49 69 247 576 0
London
+44 20 7710 9800
Paris
+33 1 42 68 72 00
News 17 Mar. 2023
Curtis assisted CDP Venture Capital in the launch of FoodSeed, acceleration program specializing in the FoodTech and AgriTech sectors
News 16 Mar. 2023
Partners Luciana Ricart and Fernando Tupa Publish Book Chapter on Hearing Preparation in Investment Arbitration
Event 16 Mar. 2023
Curtis Hosts International Arbitration Events at Paris Arbitration Week 2023
We use cookies on our website to enhance your browsing experience, match your interests and assess our website performance. We do not share information with any third-party for marketing purposes. Please view our privacy policy to learn more about the use of cookies on our website. By continuing to browse our website, you consent to our use of cookies.