RegAlert2022-12-01
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Recommendation of the European Systemic Risk Board on vulnerabilities in the commercial real estate sector in the European Economic Area
Relevant authorities in the European Economic Area must closely monitor systemic risks stemming from the commercial real estate sector, including cyclical and structural vulnerabilities, on a regular basis of at least annually. Supervisory authorities are required to ensure that financial institutions maintain prudent risk management practices, adequate provisioning, and sound lending standards for commercial real estate exposures. Where exposures are material, designated authorities must activate appropriate capital-based or macroprudential measures to increase the resilience of credit institutions, investment funds, insurance undertakings, and pension funds. The European Commission is tasked with assessing the current macroprudential framework to determine if activity-based tools are necessary to ensure consistent risk treatment across the financial system.
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Show all related documents (20)
- Amends
- Recommendation of the European Systemic Risk Board of 21 March 2019 amending Recommendation ESRB/2016/14 on closing real estate data gaps2019
- Issued under
- Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board2010
- Refers to
- Warning of the European Systemic Risk Board on vulnerabilities in the Union financial system2022Recommendation of the European Systemic Risk Board on liquidity risks in investment funds2020Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/20122017Recommendation of the European Systemic Risk Board on liquidity and leverage risks in investment funds2017Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast) (Text with EEA relevance)2016Recommendation of the European Systemic Risk Board on closing real estate data gaps2016
+10 more
Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions2013Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC Text with EEA relevance2013Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance2013Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories Text with EEA relevance2012Recommendation of the European Systemic Risk Board on the macro-prudential mandate of national authorities2011Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC2010Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC2010Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC2010Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance)2009Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast) (Text with EEA relevance)2009 - Referred to by
- CySEC Circular C617: Implementation of ESRB Recommendation 2022/9 on Commercial Real Estate Vulnerabilities2024Final Report on the 2022 Common Supervisory Action on Valuation2023
Source: European Systemic Risk Board — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works