As we move further into 2019, regulators are preparing the banking sector for tougher times by increasing banks’ risk management and strengthening their capital base. The much discussed and now approved banking package, or risk reduction package, comes into force in a matter of months.
KPMG´s Risk Advisory team are ready to provide our banking clients with the essential explanations, clarifications, workshops and support with implementing the banking package.
So, what is the new banking package all about? It essentially amends two existing regulations, the Capital Requirements Regulation and Single Resolution Mechanism Regulation (SRMR), and two existing directives, the Capital Requirements Directive (CRD) V and Bank Recovery and Resolution Directive (BRRD).
In response to heightened interest and questions received about this package, KPMG has simplified and summarized an overview of the package in Amendments to existing rules and New rules, focusing on the key areas of impact.