Regulatory Alerts2024-05-29 | Rundschreiben 06/2024 (BA) - Mindestanforderungen an das Risikomanagement - MaRiskCircular 06/2024 (BaFin) – Minimum Requirements for Risk Management (MaRisk) – To All Credit Institutions and Financial Services Enterprises in Germany
The Federal Financial Supervisory Authority (BaFin) issued Circular 06/2024 to establish a flexible, principles-based framework for risk management across all German credit institutions and financial services enterprises. The circular mandates robust governance, comprehensive internal control systems, and explicit integration of ESG risks while requiring institutions to maintain adequate risk-bearing capacity through tailored strategies, capital planning, and proportionate implementation measures. It further clarifies group-level risk management, outsourcing rules, and supervisory review processes to ensure consistent protection of entrusted assets and financial stability.
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