审查银行业的欧盟宏观审慎框架

Review of the EU Macroprudential Framework for the Banking Sector March 2022 A Concept Note Review of the EU Macroprudential Framework for the Banking Sector / March 2022 Contents 1 Foreword 2 Key concepts 3 1 Introduction 6 2 Systemic risks in the EU banking system over the next decade 11 3 Enhancing the EU macroprudential banking framework 15 3.1 Macroprudential capital buffers 15 3.2 Risk weight measures 27 4 Broadening the regulatory perimeter 31 4.1 Borrower-based measures 31 4.2 Systemic liquidity 39 4.3 Bank-like activities of non-banks 42 5 Macroprudential tools to address hybrid risks in the next decade 46 5.1 Systemic cyber risks 46 5.2 Climate-related financial risks 48 6 Cooperation in a broader regulatory and institutional context 52 References 55 Annex 61 Box A1 Elements of a harmonised macroprudential risk weight article for real estate exposures 61 Box A2 Proposal for including BBMs in EU legislation 63 Imprint and acknowledgements 69 Contents Review of the EU Macroprudential Framework for the Banking Sector / March 2022 Foreword 2 Large-scale and swift policy intervention in the European Union and abroad helped stabilise the economy. This included fiscal policy, labour market policy and monetary policy measures. They were complemented by measures targeted at the financial system to ensure a sustained flow of financing to households and businesses. The reforms to the regulatory framework for banks implemented after the global financial crisis and euro area sovereign debt crisis helped avoid a financial crisis. Entering the COVID-19 pandemic, banks were funded with more and better-quality equity to absorb unexpected losses. They also retained more liquid assets to meet funding liquidity shocks. And resolution frameworks were in place offering more options than in the past to deal with failing banks had this turned out to be necessary. Work is ongoing to fully implement internationally agreed reforms and to complete the broader regulatory reform agenda. This notably includes the full and faithful implementation of the finalisation of the Basel III agreement as well as the completion of Capital Markets Union and Banking Union. The reform agenda strives to make the financial system more stable, more efficient, and more reliable. This often comes in the form of restrictions, and hence at a cost to financial institutions. But this is a cost well worth paying as it ensures that our financial system remains resilient when faced with unexpected shocks and does not amplify economic crises when these shocks occur. Financial stability remains one of the foundations on which to build the European Union of the future. It allows the financial system to serve European households and businesses and thus to contribute to sustainable economic growth across the EU. We should not be complacent, particularly at the present times. Increased indebtedness across the economy, elevated asset prices remain key vulnerabilities and cyber-attacks that are