Regulatory Alerts2021-07-26
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Recommendation of the European Systemic Risk Board of 26 July 2021 amending Recommendation ESRB/2015/2 on the assessment of cross-border effects of and voluntary reciprocity for macroprudential policy measures (ESRB/2021/6)
The European Systemic Risk Board amends Recommendation ESRB/2015/2 to update the list of macroprudential measures recommended for voluntary reciprocity, specifically modifying the French measure on large exposure limits to reflect the calculation of large exposures against Tier 1 capital excluding Tier 2 capital. The amendment replaces the text of sub-recommendation C(1) and the Annex, detailing reciprocation requirements and materiality thresholds for measures in Belgium, France, Luxembourg, Norway, and Sweden. Relevant authorities are recommended to reciprocate these national measures, such as the French 5% Tier 1 capital limit for highly-indebted non-financial corporations, within specified deadlines.
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