News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
more
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
Client Alert 24 Feb. 2022
EU, UK, Japan and Australia Impose Sanctions on Russia
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
News 06 May. 2022
Curtis Advises Terna Group on the Sale of its Latin America Power Transmission Assets to CDPQ
Publications 05 May. 2022
Marie-Claire Argac, Simon Batifort, and Cyprien Mathié share highlights from “Affaires d’Etats: Practical Considerations When Defending States in International Arbitration” on Kluwer Arbitration Blog
Event 26 Apr. 2022
Claudia Frutos-Peterson Speaks at CAI Costa Rica’s 13th Congress of International Arbitration
News 21 Apr. 2022
SCOTUS Upholds U.S. Colonialism under the U.S. Constitution
Client Alert 23 Mar. 2022
The Dubai International Arbitration Centre (DIAC) has launched the DIAC Arbitration Rules 2022
Event 22 Nov. 2021
Partner Antonia Birt spoke at ADGMAC and AIAC Webinar Series: Webinar 5 - Disputes in Fintech and Complex Technology in MESEA
News 16 May. 2022
Curtis Files SCOTUS Amicus Brief for Ohio Justice & Policy Center in Prisoners’ Rights Case
News 10 May. 2022
Juan Perla’s Argument in D.C. Circuit Featured on Audio Arguendo Podcast
Client Alert 21 Apr. 2022
New Laws Targeting Assets of Russian Oligarchs: The U.S. Announces Task Force KleptoCapture and the Kleptocracy Asset Recovery Rewards Program
Client Alert 19 Apr. 2022
U.S. President Biden Expands Export Controls Imposed on Russia and Belarus
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
Publications 03 May. 2022
Simon Batifort and Belén Ibañez Publish “Unearthing FET: What Did States Intend, and Does It Matter?” on Kluwer Arbitration Blog
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.