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Consultation on the 8th MaRisk amendment – National implementation of the EBA guidelines on IRRBB and CSRBB

On 15 February 2024, BaFin published the consultation version of the 8th MaRisk amendment. The consultation phase will run until 14 March 2024 and the final version is to be published as early as April 2024. The amendments to MaRisk relate exclusively to requirements for interest rate and credit spread risks.

As the publication of the final version brings the new requirements on IRRBB and CSRBB closer to coming into force for all German institutions, the start of the consultation on the MaRisk amendment is an important signal for all institutions that have not yet fully implemented the corresponding EBA requirements. This applies in particular to LSIs, as BaFin's interpretation of the EBA guidelines is crucial for them. In this context, it is therefore also important that the supervisory authority explicitly emphasises the principle of proportionality in the cover letter for MaRisk, which indicates certain room for interpretation.

The new MaRisk requirements are described in detail and their implications explained.