Focus on... EBA issues guidelines to strengthen requirements for the security of internet payments across the EU
The European Banking Authority (EBA) published its final Guidelines on the security of internet payments, which set the minimum security requirements that Payment Services Providers in the EU will be expected to implement by 1 August 2015. Concerned about the increase in frauds related to internet payments, the EBA decided that the implementation of a more secure framework for internet payments across the EU was needed.
- ESAs tackle cross-selling practices in the financial sector
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) published today a consultation paper on draft Guidelines for regulating cross-selling practices in the financial sector across the EU. These guidelines establish a coherent and effective approach in supervising firms that offer cross-selling options, so as to enhancing protection of EU customers. The consultation will run until 22 March 2015.
22/12/2014 - News
- The Joint Committee of the ESAs publishes final Guidelines on consistency of supervisory practices for financial conglomerates
The Joint Committee of the three European Supervisory Authorities (ESAs - EBA, ESMA and EIOPA) published today the Joint Guidelines on the convergence of practices aimed at ensuring consistency of supervisory coordination arrangements for financial conglomerates. The first Guidelines developed jointly by the three ESAs in relation to the FICOD (Financial Conglomerates Directive) aim to clarify and enhance cooperation between national competent authorities on cross-border groups that have been identified as financial conglomerates.
22/12/2014 - Press releases
- EBA consults on procedures and contents of notifications under the recovery and resolution regime
The European Banking Authority (EBA) launched today a public consultation on draft Regulatory Technical Standards (RTS) on notifications and notice of suspension. These RTS have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) and aim at harmonising the process and content of notifications and notice of suspension arising from a determination that a firm is failing or likely to fail and the subsequent resolution actions. The consultation runs until 20 March 2015.
19/12/2014 - News
- EBA publishes its sixth semi-annual report on risks and vulnerabilities of the EU banking sector
The European Banking Authority (EBA) published today its sixth semi-annual report on risks and vulnerabilities of the EU banking sector. The report highlights that throughout 2014, European banks have continued to take advantage of favourable market conditions to raise capital in preparation for the asset quality reviews (AQR) and the 2014 EU-wide stress test. The average common equity tier 1 (CET1) ratio for the largest European banks reached 11.8 % in June 2014, the highest level since 2009 and broadly in line with the largest US banks. The report informs that market sentiment and confidence is improving. However, it also warns that the signs of recovery remain modest and fragile and that weak macroeconomic conditions can further affect credit quality. The heavy debt overhang, the potential impact of conduct-related issues, and the sustainability of business models and profitability remain sources of concerns.
19/12/2014 - Press releases
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