EU Sets Out New Bank Rules For Large Exposure Limits

Law360, London (February 18, 2021, 2:45 PM GMT) -- Europe's banking watchdog has said it is consulting the finance sector on new rules it will introduce in March that will govern how regulators crack down on lenders with excessive exposure to a single creditor.

The European Banking Authority said on Wednesday that it is seeking responses on guidelines that set out what national watchdogs should do if banks under their supervision breach so-called exposure limits. The ceiling is set out in the International Financial Reporting Standard 9, known as IFRS 9, for the largest amount of credit exposure a bank or lender can have with a single counterparty.

"In general, the...

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