Regulatory Alerts2026-07-30
Added
GFSC Guidance Note: Step-in Risk (Banking)
This Guidance Note sets out the Gibraltar Financial Services Commission's expectations for credit institutions, CRR consolidation entities, and specific investment firms undertaking step-in risk assessments under regulation 61E of the Financial Services (Credit Institutions and Capital Requirements) Regulations 2020. Firms must assess whether step-in risk for material step-in entities is significant, considering prescribed indicators, and report the potential impact of financial support on their CET1 ratio, leverage ratio, LCR, and NSFR. Additionally, firms are required to identify, monitor, manage, and mitigate significant step-in risk, with Annex 2 providing guidelines for completing reporting templates SI0, SI1, and SI2.
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