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Droit Bancaire > Documentation > Revue Documentaire Décembre 2018 Mars 2019

Revue documentaire (décembre 2018 - mars 2019)

Revue documentaire (décembre 2018 - mars 2019)

 

BANQUE CENTRALE

Intéressant discours sur le rôle et l'indépendance des banques centrales 
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BANQUE ORGANISATION / RISQUE INFORMATIQUE

ACPR, Document de réflexion sur le risque informatique
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BCE / SANCTIONS

"The European Central Bank ... decided on 15 February 2019 to impose an administrative penalty on Sberbank Europe AG for an amount of EUR 630,000. This penalty is imposed in respect of breaches of the large exposure requirements laid down in Article 395(1) of Regulation (EU) No 575/2013 of the European Parliament by exceeding the large exposure limit within two consecutive quarterly reporting periods in 2015 on an individual and on a consolidated basis. Among other circumstances, the amount of the penalty takes into account that the large exposure limit was exceeded on an individual as well as on a consolidated basis, the duration of the breaches and the level of excess over the large exposure limit."
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"The European Central Bank ... decided on 21 December 2018 to impose an administrative penalty on Novo Banco, SA for an amount of EUR 200,000. This penalty is imposed in respect of breaches of an ECB Decision of 29 August 2017 consisting in failure to comply with the large exposure requirements set out therein during two consecutive quarterly reporting periods in 2017 on an individual and on a consolidated basis. 
Among other circumstances, the amount of the penalty takes into account that the large exposure requirements were not complied with on an individual and a consolidated basis, the duration of the breach, the level of excess over the large exposure limit, the degree of responsibility and the specific circumstances of the restructuring process connected to the creation of Novo Banco, SA." 
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"The European Central Bank ... decided on 21 December 2018 to impose an administrative penalty on Novo Banco, SA for an amount of EUR 200,000. This penalty is imposed in respect of a breach of an ECB Decision of 27 March 2017 consisting in failure to comply with the total capital requirement imposed as a result of the annual Supervisory Review and Evaluation Process (SREP capital requirement) during two consecutive quarterly reporting periods in 2017. 
Among other circumstances, the amount of the penalty takes into account the duration of the breach, the deviation from the total SREP capital requirement imposed, the degree of responsibility and the specific circumstances of the restructuring process connected to the creation of Novo Banco, SA." 
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"The European Central Bank ... decided on 21 December 2018 to impose administrative penalties on Novo Banco, SA for an amount of EUR 200,000 and EUR 10,000, respectively. 
The penalties imposed pursuant to Article 18(1) of Council Regulation (EU) No 1024/2013 relate to breaches of reporting requirements set out in Articles 99, 100, 101, 394, 415, and 430 of Regulation (EU) No 575/2013 of the European Parliament and of the Council. 
The penalties imposed pursuant to Article 18(7) of Council Regulation (EU No 1024/2013 relate to breaches of reporting requirements set out in Articles 7 and 8 of Regulation (EU) 2015/534 of the European Central Bank. 
Among other circumstances, the amount of the penalties takes into account the duration of the breaches, the degree of responsibility and the specific circumstances of the restructuring process connected to the creation of Novo Banco, SA." 
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BITCOIN

Carlos Conesa, Banco de Espana Occasional Papers. 1901. Bitcoin: a solution for payment systems or a solution in search of a problem? 
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BLANCHIMENT

Banca d'Italia

La Banca d'Italia interdit à la succursale italienne de ING Bank d'initier toute nouvelle opération
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EBA

"On 18 February 2019, the European Banking Authority (EBA) opened a formal investigation into a possible breach of Union law by the Estonian Financial Services Authority (Finantsinspektsioon) and the Danish Financial Services Authority (Finanstilsynet) in connection with money laundering activities linked to Danske Bank and its Estonian branch in particular.  
The commencement of an investigation follows a letter from the European Commission calling on the EBA to use its powers to examine whether there may have been a failure by the Estonian and Danish competent authorities to comply with their obligations under Union law. Before formally opening the investigation, the EBA conducted preliminary inquiries with both authorities.
The investigation has been opened under Article 17 of the EBA's founding Regulation.  Where an investigation results in a finding of breach of Union law, Article 17 provides that the EBA may address a recommendation to the competent authority concerned setting out the action necessary to comply with Union law."
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Réglementation

ESAs announce multilateral agreement on the exchange of information between the ECB and AML CFT competent authorities
15 January 2019
The European Supervisory Authorities (ESAs) approved on 10 January 2019 the content of the Multilateral Agreement on the practical modalities for exchange of information between the European Central Bank (ECB) and all competent authorities (CAs) responsible for supervising compliance of credit and financial institutions with anti-money laundering and countering the financing of terrorism (AML/CFT) obligations under the fourth Anti-Money Laundering Directive (AMLD4). The Agreement will create a clear framework for exchanging information between the ECB and CAs and potentially will enhance the effectiveness of their supervisory practices.
AMLD4 was amended by the AMLD5 in June 2018. These amendments also included a new Article 57a(2), which requires the ESAs to support the conclusion of an agreement on the practical modalities for exchange of information between the ECB and CAs.
This amendment is part of the EU legislator's wider efforts to enhance the cooperation and information exchange between prudential and AML/CFT supervisors through a clear legal mandate. To fulfil this mandate, the ESAs, together with the ECB and CAs, have developed this Multilateral Agreement, which contains provisions on the type of information and underlying process for exchanging it; confidentiality and data protection provisions; situations where the request for information can be refused; means of communicaiton and language used in the information exchange; the signing process; and the settlement of disputes procedures.
The Agreement was sent to the ECB and the CAs for signature.
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BLOCKCHAIN

Une étude simple et intéressante de l'association des banques allemandes sur les implications juridiques de la technologie Blockchain :

Diskussionspapier des Bankenverbandes zu Wertpapieren mittels Distributed-Ledger-Techno- logie (DLT) - Rechtliche Überlegungen mit Reformvorschlägen - 6. März 2019
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Sur le sujet voir également les débats au Bundestag allemand
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et le Ministère des finances allemand
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CASH

En Allemagne, les espèces demeurent non seulement le moyen de paiement le plus populaire, elles permettent aussi d’économiser du temps et de l’argent, comme il ressort d’une étude récente menée par la Deutsche Bundesbank en coopération avec le EHI Retail Institute. « À la caisse, le paiement en espèces est toujours le moyen de paiement le plus rapide et le moins onéreux », a déclaré Johannes Beermann, membre du Directoire de la Bundesbank, à l’occasion de la présentation de l’étude.
En Alle­magne, les espèces demeurent non seulement le moyen de paiement le plus populaire, elles permettent aussi d’économiser du temps et de l’argent, comme il ressort d’une étude récente menée par la Deutsche Bundesbank en coopération avec le EHI Retail Institute.
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COMPTABILITE

The European Banking Authority (EBA) published today some initial observations on the post-implementation impact of IFRS 9 on EU banks. This exercise, which builds on the two pre-implementation impact assessments published in November 2016 and July 2017, is mainly based on data extracted from institutions' supervisory reporting. The initial observations from this exercise are consistent with the forecasts of the second EBA impact assessment report. The report also identifies some areas for ongoing scrutiny and further work from an EBA perspective.
Main observations
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Voir aussi
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IFRS9 aus Perspektive der Bankenaufsicht,  Deutsche Bundesbank , Monatsbericht, Januar 2019 p. 81

 

CRISE FINANCIERE

Crisi e regolamentazione finanziaria: cambiamenti e prospettive
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CRYPTOACTIFS 

Une note du Comité de Bâle qui confirme que les banques doivent faire preuve de la plus grande prudence en traîtant avec des crypto-actifs, qui - on ne le rappellera jamais assez - ne sont pas des actifs et non pas un cours réel :

"While crypto-assets are at times referred to as "crypto-currencies", the Committee is of the view that such assets do not reliably provide the standard functions of money and are unsafe to rely on as a medium of exchange or store of value. Crypto-assets are not legal tender, and are not backed by any government or public authority.1 Through this newsletter, the Basel Committee is setting out its prudential expectations related to banks' exposures to crypto-assets and related services, for those jurisdictions that do not prohibit such exposures and services.
Due diligence: Before acquiring exposures to crypto-assets or providing related services, a bank should conduct comprehensive analyses of the risks noted above. The bank should ensure that it has the relevant and requisite technical expertise to adequately assess the risks stemming from crypto-assets.
Governance and risk management: The bank should have a clear and robust risk management framework that is appropriate for the risks of its crypto-asset exposures and related services. Given the anonymity and limited regulatory oversight of many crypto-assets, a bank's risk management framework for crypto-assets should be fully integrated into the overall risk management processes, including those related to anti-money laundering and combating the financing of terrorism and the evasion of sanctions, and heightened fraud monitoring. Given the risk associated with such exposures and services, banks are expected to implement risk management processes that are consistent with the high degree of risk of crypto-assets. Its relevant senior management functions are expected to be involved in overseeing the risk assessment framework. Board and senior management should be provided with timely and relevant information related to the bank's crypto-asset risk profile. An assessment of the risks described above related to direct and indirect crypto-asset exposures and other services should be incorporated into the bank's internal capital and liquidity adequacy assessment processes.
Disclosure: A bank should publicly disclose any material crypto-asset exposures or related services as part of its regular financial disclosures and specify the accounting treatment for such exposures, consistent with domestic laws and regulations.
Supervisory dialogue: The bank should inform its supervisory authority of actual and planned crypto-asset exposure or activity in a timely manner and provide assurance that it has fully assessed the permissibility of the activity and the risks associated with the intended exposures and services, and how it has mitigated these risks."
BCBS, Statement on crypto-assets, 13 mars 2019
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EBA Report on crypto assets, 09 January 2019
The European Banking Authority (EBA) published today the results of its assessment of the applicability and suitability of EU law to crypto-assets. Typically, crypto-asset activities do not constitute regulated services within the scope of EU banking, payments and electronic money law, and risks exist for consumers that are not addressed at the EU level. Crypto-asset activities may also give rise to other risks, including money laundering. In light of these issues, the EBA recommends that the European Commission carry out further analysis to determine the appropriate EU-level response. The EBA also identifies a number of actions that it will take in 2019 to enhance the monitoring of financial institutions' crypto-asset activities and consumer-facing disclosure practices.
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DEPOTS BANCAIRES

10 January 2019
The European Banking Authority (EBA) published today a report on the costs and performance of structured deposits in the European Union (EU). The report is a response to a request the EBA had received from the EU Commission as part of the implementation of it Capital Market Union Action Plan and concludes that the market for structured deposits in the EU appears to be limited in size and that data on costs and performance is not widely available. The report, therefore, also sets out the steps the EBA will take to enhance the data quality in the future. 
As part of the implementation of the Capital Markets Union Action Plan, in October 2017, the European Commission sent a formal request to the three European Supervisory Authorities (EBA, ESMA and EIOPA) to issue, by the end of 2018, reports on the cost and past performance of the main categories of retail investment, insurance and pension products.
The request specified that the reports should be based on data reporting that is already required by Union or national law and should include a description of data gaps and other difficulties faced during the development of the report, including any potential recommendations for the future reporting cycles.
The only product category in the EBA's consumer protection remit that is included in the request are structured deposits, which are deposits that are linked to an underlying asset but are repayable at par at maturity. The report includes a mapping of the specific regulatory requirements on pre-contractual disclosure and/or reporting applicable to structured deposits at European and national level and also identifies the data sources that would be required to fulfil the request. The report arrives at the view that the market for structured deposits in the EU is limited in size and that data on costs and performance is not widely available. It concludes by setting out steps that the EBA will take to obtain more accurate and standardised data in the future and, in so doing, enhance the reliability and overall quality of its response.
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DIGITALISATION

Digitale Transformation – Herausforderungen für die Finanzbranche
Rede bei der Vertretung des Landes Nordrhein-Westfalen bei der Europäischen Union.
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Digitalisierungsstrategie der BaFin
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FINTECH

Les enjeux de réglementation et de surveillance financières liés à l’impact des entreprises technologiques sur les services financiers
Denis Beau, sous-gouverneur de la banque de france
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07 January 2019
The European Supervisory Authorities (ESAs) published today a joint report on innovation facilitators (regulatory sandboxes and innovation hubs). The report sets out a comparative analysis of the innovation facilitators established to date within the EU. The ESAs also set out best practices for the design and operation of innovation facilitators.
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E. Palmerini, G. Aiello, V. Cappelli, G. Morgante, N. Amore, G. Di Vetta, G. Fiorinelli, M. Galli
Il FinTech e l'economia dei dati Considerazioni su alcuni profili civilistici e penalistici
Le soluzioni del diritto vigente ai rischi per la clientela e gli operatori Quaderno FinTech n. 2 - dicembre 2018
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Quaderni FinTechLa digitalizzazione della consulenza in materia di investimenti finanziari
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INTELLIGENCE ARTIFICIELLE

CSSF, Artificial intelligence, opportunities, risks and recommendations for the financial sector, décembre 2018
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ACPR, Document de réflexion - Intelligence artificielle : enjeux pour le secteur financier, décembre 2018
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NOTATIONS

13 March 2019
The Joint Board of Appeal (BoA) of the European Supervisory Authorities (ESAs – ESMA, EIOPA and EBA) issued decisions regarding four appeals it received by Svenska Handelsbanken AB, Skandinaviska Enskilda Banken (SEB) AB, Swedbank AB, and Nordea Bank Abp against decisions by ESMA regarding infringements of the Credit Rating Agencies Regulation (CRAR).
On 11 July 2018, ESMA decided to fine the five banks for negligently infringing the CRAR by issuing credit ratings without being registered. While the BoA confirmed the infringements found by ESMA, it accepted the appellants' claims of having acted non-negligently and remitted the case to ESMA's Board of Supervisors to adopt amended decisions based on the BoA findings. In the context of the proceedings, the BoA also dismissed an application by one appellant to suspend ESMA's decision addressed to it.
ESMA is currently studying the BoA's decisions, before deciding on the next steps. According to the ESMA Regulation, appeals against decisions of the BoA can be brought before the Court of Justice of the European Union.
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PAIEMENTS

Alberto Javier Tapia Hermida, The second payment services directive, Banco de Espana, Financial Stability Review, novembre 2018
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REGLEMENTATION

Intéressant rapport de House of Finance, Safe Policy Center 
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REGTECH
Regtech auf dem Vormarsch
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RESOLUTION

Résolution : de la théorie à la pratique
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UE
Le paquet bancaire : les nouvelles règlementations européennes CRR 2, CRD V, BRRD 2 …
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iusNet DB 25.03.2019

Revue documentaire (décembre 2018 - mars 2019)

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Revue documentaire (décembre 2018 - mars 2019)

 

BANQUE CENTRALE

Intéressant discours sur le rôle et l'indépendance des banques centrales 
Lien

 

BANQUE ORGANISATION / RISQUE INFORMATIQUE

ACPR, Document de réflexion sur le risque informatique
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BCE / SANCTIONS

"The European Central Bank ... decided on 15 February 2019 to impose an administrative penalty on Sberbank Europe AG for an amount of EUR 630,000. This penalty is imposed in respect of breaches of the large exposure requirements laid down in Article 395(1) of Regulation (EU) No 575/2013 of the European Parliament by exceeding the large exposure limit within two consecutive quarterly reporting periods in 2015 on an individual and on a consolidated basis. Among other circumstances, the amount of the penalty takes into account that the large exposure limit was exceeded on an individual as well as on a consolidated basis, the duration of the breaches and the level of excess over the large exposure limit."
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iusNet DB 25.03.2019

 

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