Banking

CSSF circular 20/759 shakes things up in the Board Room

In December 2020 the CSSF published circular 20/759 (an update of circular 12/552) on central administration, internal governance and risk management. It transposes (amongst others) EBA Guidelines 2017/11 on internal governance and joint EBA and ESMA Guidelines 2017/12 on suitability assessment of the members of the management body and key function holders. […]
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ICAAP, ILAAP and stress testing: everything banks need to know about the new CSSF circular

What’s the story? Banks in Luxembourg are facing new supervisory expectations as regards their ICAAP, ILAAP and stress testing frameworks following the latest CSSF publication. What are the key changes introduced by the new circular? And how will they affect your bank? Get started by reading this digest. Tell me more On 23 October 2020, the CSSF released […]
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Embedding ESG into banks’ strategies

This article was originally published on kpmg.com by Mr. Steven J. Hall, Partner, Financial Risk Management, KPMG in the UK, Niven Huang, General Manager of KPMG Sustainability Consulting Co., Ltd., KPMG in Taiwan, Julie Patterson, Wealth & Asset Management, KPMG in the UK, Arnaud Van Dijk, Senior Manager, KPMG in Canada. In the ‘new reality’ that wil […]
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How to champion customer loyalty during a crisis: a simple framework for banks

When the Coronavirus first made headlines last November, I could not have fathomed the chaos it would wreak across the globe. Like many I listened, and then continued with my life assuming a virus in the far east Asia would have no impact on me in Luxembourg. Eight months later and we have seen lockdown measures put in place, borders closed and all sense of […]
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Can fintech lead innovation post Covid-19?

The article was originally published on kpmg.com by Anton Ruddenklau, Global Co-Leader of Fintech for KPMG International, and a Partner and the Head of Digital & Innovation for Financial Services in KPMG in the UK. The dotcom crash of the early 2000’s led to the creation of tech giants like Google; the global financial crisis of 2008/09 saw the emergenc […]

ICAAP and ESG risks

The article was originally published on kpmg.com by Mohammad Kajiesfahani, Manager KPMG ECB Office at KPMG Germany. A new Action Plan from the EBA and the ECB’s growing interest in ESG risks are tangible signs of an increasing supervisory focus on climate change and other ESG factors. Integrating ESG risks into ICAAPs will be challenging, so banks should be […]
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