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Public consultation on the draft report on “Sound practices in counterparty credit risk governance and management”

This consultation gives interested parties the opportunity to comment on the draft report on “Sound practices in counterparty credit risk governance and management”.

Deadline for submitting comments: midnight CET on 14 July 2023.

Only comments received before this deadline have been considered.

Draft report on “Sound practices in counterparty credit risk governance and management”

The report summarises the results of the targeted review performed in the second half of 2022 on how banks govern and manage counterparty credit risk (CCR). It highlights the good practices observed in the market and points to areas where improvement is needed.

The review found that, despite some progress in how banks measure and manage CCR, there is still room for improvement in areas such as customer due diligence, the definition of risk appetite, default management processes and stress testing frameworks. Supervisors’ expectations cover, among other dimensions, banks’ capacity to obtain information from non-bank counterparties, regularly stress test their counterparty credit risk exposures and assess their counterparties’ vulnerabilities under tail risk scenarios.

The good practices described in the report go beyond mere compliance with regulatory requirements and should be considered when banks design their approach to CCR. Approaches to CCR taken by banks should be proportionate to the scale and complexity of the business and products offered, as well as the nature of the counterparties.

Deadline for submitting comments: midnight CET on 14 July 2023.

Only comments received before this deadline have been considered.

Submitting comments

Submit your comments by midnight CET on 14 July 2023 using this template.

So that comments can be processed automatically, please do not change the template structure or the file format.

Where appropriate, please provide relevant examples or data.

Only comments sent using the above template will be published after the close of this public consultation.

Submitting comments by email:

Using the above template, send your comments to: SSMPublicConsultation@ecb.europa.eu.

In the subject line, please write “Public consultation on the draft report on “Sound practices in counterparty credit risk governance and management””.

Submitting comments by post:

Using the above template, send your comments to:

European Central Bank Secretariat to the Supervisory Board
“Public consultation on the draft report on “Sound practices in counterparty credit risk governance and management””
60640 Frankfurt am Main
Germany

Data protection

For details on how your personal data and contribution will be handled, please see this privacy statement:

Privacy statement
Documents
Reference documents
20 February 2023

“The financial stability aspects of commodities markets”, Financial Stability Board

13 January 2023

o “Tackling counterparty credit risk”, blog post by Andrea Enria, Chair of the Supervisory Board of the ECB

17 August 2022

“Supervisory expectations for prime brokerage services”, Supervision Newsletter, ECB

February 2020

“ECB Guide on assessment methodology (EGAM)”, ECB

29 June 2011

“Interagency supervisory guidance on counterparty credit risk management”, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System and Office of Thrift Supervision

6 August 2008

“Containing systemic risk: the road to reform”, Counterparty Risk Management Policy Group III

27 July 2005

“Toward greater financial stability: a private sector perspective”, Counterparty Risk Management Policy Group II

October 2000

“Principles for the management of credit risk”, Basel Committee on Banking Supervision

January 1999

“Sound practices for banks’ interactions with highly leveraged institutions”, Basel Committee on Banking Supervision

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The ECB holds public consultations to seek the views of interested EU citizens, market participants and other stakeholders on key supervisory regulations and policies which it plans to introduce.

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