Regulatory Alerts2020-08-03
Communications - SIM Communications and SIM Groups - Effective Date of the Discipline on the Application of the Default Definition
The Bank of Italy, following a prior opinion from CONSOB, has modified the regulatory framework for SIMs and SIM groups regarding the application of the default definition under CRDIV/CRR. This update aligns national rules with EBA Guidelines and sets the relevance threshold for past-due credit obligations, while postponing the effective date of prudential default discipline for SIMs to January 1, 2021. The modification enters into force upon publication in the Official Gazette, ensuring consistency with supervisory reporting requirements and the EBA's IRB Roadmap progress.
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