The European Banking Authority (EBA) launched today a consultation to amend the Implementing Technical Standards (ITS) on supervisory disclosure, which specify the format, structure, contents list and annual publication date of the supervisory information to be disclosed by competent authorities. The revised draft ITS will incorporate the changes to the EU legal framework and the establishment of the Single Supervisory Mechanism (SSM). The consultation runs until 22 December 2017.
The current supervisory disclosure framework covers information on rules and guidance, options and discretions of the Capital Requirement Regulation (CRR) and Capital Requirements Directive (CRD), general criteria and methodologies for the supervisory review and evaluation process (SREP) and aggregate statistical data on key aspects of the implementation of the prudential framework.
The rationale for amending the ITS, was the need to clarify the level of consolidation and the approach to be taken when aggregating the data. The consultation paper moves away from the host approach introduced in the former CEBS guidelines, and implicitly widely applied under the previous ITS. It follows instead a consolidated approach in line with the existing reporting framework with the aim of avoiding additional burden and to enhance the comparability of the data.
In addition, the aim of such a change is also to clarify the scope and the split of supervisory responsibilities to disclose information between the European Central Bank (ECB) and National Competent Authorities (NCAs) within the SSM as agreed in the Banking Union. The proposed amendments will enhance the transparency of the ITS, ensure consistency between the templates and instructions and should reduce the level of different interpretation between reporting competent authorities.
The structure and the legal basis of both the draft revised ITS and of its related Annexes remain unchanged.
Comments to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 22 December 2017.
A public hearing will take place at the EBA premises on 17 November 2017 from 14:00 to 15:00 UK time.
All contributions received will be published following the end of the consultation, unless requested otherwise.
The ITS on supervisory disclosure have been developed in accordance with Article 143 of the CRD, which mandates the EBA to specify the format, structure, contents list and annual publication date of the information competent authorities shall publish on rules and guidance, options and discretions, general criteria and methodologies for the SREP and aggregate statistical data on key aspects of the implementation of the prudential framework.