| || |
Current work programme
The annual work programme describes and summarises the main objectives and deliverables of the EBA in 2014. It is based on the tasks specified in the Regulation and in the relevant EU banking sector legislation.
Highlights of the EBA's tasks in 2014
In 2014, the EBA's activities will focus on three core areas: regulation, oversight and consumer protection.
In the regulatory policy area, the EBA will continue to play a central role in the development of the Single Rulebook in banking, which will contribute to the achievement of a level playing field for financial institutions, as well as to raise the quality of financial regulation in the EU and the overall functioning of the EU Single Market. The EBA's regulatory work stems from the European Commission's legislation on capital requirements, the CRDIV/CRR package, and in 2014 will focus in particular on credit and market risk, the prudential areas of liquidity and leverage, as well as on recovery and resolution.
The EBA's oversight activities will focus on identifying, analysing and addressing key risks in the banking sector in the EU. The EBA will also continue to monitor capital levels, as well as capital plans, with the aim of converging towards the new standards.
Finally, in the area of consumer protection, the EBA will work towards fulfilling its mandates as laid down under the Mortgage Credit Directive (MCD), the proposed Bank Account Package, the proposed review of the Payment Services Directive (PSD), and on initiatives such as the self-placement of financial instruments.
In addition, the Policy Analysis and Coordination Unit of the EBA will continue to ensure internal and external policy coordination between the EBA's core functions and external stakeholders. It will also provide legal review and impact assessment of the EBA's policy proposals, as well as assistance in the EBA's peer review work. The Operations area will continue to play a critical role in supporting the EBA's core functions.
A detailed list of the EBA's tasks is presented in the Annex.