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Overview of the BIS newsletter on credit risk issues, addressing key areas of concern for banks and financial institutions and ongoing challenges in credit risk management and provisioning as an aftermath of the persisting effects of the COVID-19 pandemic.

This article delves into the DLT Pilot Regime, its objectives, and its significance in the European financial services sector. For more information on how the DLT Pilot Regime can benefit your business, contact Grant Thornton Cyprus, a leading provider of professional services.

The EBA will integrate ESG risks considerations into its framework over the next three years to support the EU's transition to a more sustainable economy. Read more

The report highlights the main updates made to integrate the climate models in order to reflect the most recent climate data and economic outlook on macroeconomic variables, used as part of the models, and consequently, on both physical and transition risks.

EBA published, on the 21st of June 2022, draft principles in assessing representativeness of COVID-19-impacted data in re-calibration of IRB models. The Supervisory handbook that will be published later in 2022 will include these principles, aiming at ensuring a harmonised approach. COVID events and especially the use of moratoria and other public measures may have led to changes in default rates.

The EBA Annual Report was published on the 15th of June 2022, highlighting the main achievements made in 2021, providing an overview of the key priorities for the coming year.

The CySEC (Cyprus Securities and Exchange Commission) issued a new update regarding CASP (Crypto Asset Service Providers) to register their services.

The European Commission proposed the EU Network and Information Security Directive as part of the European Cyber Security strategy. The directive came into force on the 10th of May 2018 with aim to increase the maturity level of cybersecurity across the state members of EU and ensure their strategic cooperation through Risk Management and Incident Reporting.

Our IBR research found business are laser focusing on mitigating data privacy risk at the expense of combating cyber security threats.

Distributed ledgers have grown beyond their cryptocurrency roots and the once-emerging technology is at last ready for your business to put it to work right now.

After twenty years of development the IASB has published IFRS 17 ‘Insurance Contracts’, find out more.

History has something important to tell us about the difficulties of steering a business to long-term success – through seismic shifts in technology, consumer demands and product development. With that in mind it’s unsurprising that over half the world’s largest companies in the early 1900s had shut their doors by the late 1990s. Some, however, have endured.

Mid-market businesses should feel empowered to ask for better service from their bank, says the Swedish lender that is challenging established global players.