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Legal News. European Banking Law. December 2020

www.europeanbankinglaw.com

I. RULES, ACTS AND SOFT LAW OF THE EUROPEAN UNION

Green finance. Green banking
Commission Delegated Regulation 2020/1816 of 17 July 2020 supplementing Regulation 2016/1011 of the European Parliament and of the Council as regards the explanation in the benchmark statement of how environmental, social and governance factors are reflected in each benchmark provided and published. (OJ 3/12)
Commission Delegated Regulation 2020/1817 and 2020/1818, supplementing Regulation 2016/1011 (OJ 3/12), on the benchmark methodology of the reference indices and on the minimum standards.
Bank resolution
Commission Notice relating to the interpretation of certain legal provisions of the revised bank resolution framework in reply to questions raised by Member States’ authorities (OJ 2/12)

It is recognized that the” reform implements in the Union the international Total Loss-Absorbing Capacity (TLAC) standard for global systemically important banks”.
In this Notice, however, it is recalled that it “enhances the application of the minimum requirement for own funds and eligible liabilities (MREL) for all banks”.

 
Regulatory Sandboxes and Experimentation Clauses
Council Conclusions on Regulatory Sandboxes and Experimentation Clauses as tools for an innovation-friendly, future-proof and resilient regulatory framework that masters disruptive challenges in the digital age (OJ 23/12)

By reading it, it is easy to deduce the importance of “experimentation clauses as legal provisions which enable the authorities tasked with implementing and enforcing the legislation to exercise on a case-by-case basis a degree of flexibility”.

 
Collector coins, counterfeit money and controls of incoming or outgoing cash from the Union
Dividend distributions
Other issues
Non-performing loans, payments statistics and money markets
Central counterparties. Critical nodes in Union financial markets
Taxonomy laid down in the regulatory technical standards for the single electronic reporting format
Representative actions for the protection of the collective interests of consumers
Directive 2020/1828 of the European Parliament and of the Council of 25 November 2020 on representative actions for the protection of the collective interests of consumers and repealing Directive 2009/22/EC (OJ 4/12). Article two, scope, states that “applies to representative actions brought against infringements by traders of the provisions of Union law referred to in Annex I”, which expressly cites 66 Union laws, among Regulations and Directives of the Union. Article 2(2) states that this Directive “does not affect rules under Union or national law establishing contractual and non-contractual remedies available to consumers for the infringements referred to in paragraph 1”.
 

II. COURT DECISIONS / JUDGEMENT

Judgment of the Court C-597/18 P and others, of 16 December 2020.

Judgment of the Court of 21 October 2020, case C-396/19 P

Judgment of the Court, case T-577/18, and case T-578/18, on the ECB Decision on the infringement by a credit institution of the rules on prudential requirements (OJ 14/12).

Appeal brought on 20 November 2020 by the Single Resolution Board against the judgment of the General Court (Eighth Chamber, Extended Composition) delivered on 23 September 2020 in Case T-411/17 (OJ 21/12)

 
European Banking Public Law

Juan Antonio Ureña Salcedo
Jean Monnet Chair Universitat de València

The European Commission support for the production of this publication does not constitute an endorsement of the contents which reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein.
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