Regulatory Alerts2020-09-25
CSSF Circular 20/751: Adoption of EBA Guidelines on Non-Performing and Forborne Exposures
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 20/751 to adopt the European Banking Authority's guidelines on the management and disclosure of non-performing and forborne exposures. This regulatory framework mandates credit institutions and CRR investment firms to implement robust management practices for distressed assets and adhere to specific public disclosure requirements under Pillar 3. The circular was subsequently amended by Circular 23/830 to provide clarifications on the applicable public disclosure framework.
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