Tailoring Bank Regulations to Risk and Business Models of Financial Institutions.
New rules aim to reduce regulatory burdens for banks and financial institutions, especially smaller ones, by adapting requirements to their risk profile and operating model. This could mean banks have more flexibility in offering services, potentially leading to better access to financial products for citizens and local businesses.
Key points
Regulatory agencies must consider the risk profile and business models of financial institutions when creating new regulations to limit unnecessary costs and burdens.
Smaller banks meeting specific criteria will be able to submit simplified reports, reducing their bureaucracy.
The act requires a review of existing regulations from the past 7 years to align them with the new principles, potentially leading to further simplifications.
A report on the modernization of bank supervision is required, aiming to improve communication and efficiency in the banking sector.
Expired
Citizen Poll