Key Regulatory Developments In Germany – June 20, 2018

Interest rate risks: BaFin publishes new Circular

BaFin has published a new Circular on interest rate risks in the banking book (IRRBB). It is aimed at German credit institutions and contains revised guidelines for calculating the effects of a sudden and unexpected interest rate change (Basel Standardised framework Shock). For further information in German, click here.

Circular 08/2018 (BA) on the notification of severe security incidents in respect of payments (Rundschreiben 08/2018 (BA) zur Meldung schwerwiegendender Zahlungssicherheitsvorfälle)

The BaFin has published a Circular on the notification of severe security incidents in respect of payments. The Circular further details the requirements under sec. 54(1) sent. 1 of the Act on the Prudential Supervision of Payment Services - Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG).