11 February 2022
The European Banking Authority (EBA), in agreement with the European Commission, is adjusting the Single Rulebook Q&A process to ensure that questions are answered efficiently and within a reasonable time. In addition to these adjustments, other measures are taken to overcome a backlog of older questions received through the Q&A tool prior to 1 January 2020 when the Q&A process was updated as part of the last ESAs Review.
Q&As received prior to 1 January 2020 which the EBA has not addressed so far will be rejected, unless they are very close to being finalised. This decision concerns both questions of practical application or implementation, to be answered by the EBA, and questions of interpretation of Union law, to be answered by the European Commission.
It is likely that a large majority of these questions may no longer be relevant since new legislative or regulatory developments have occurred, e.g. with the revised CRR, CRD and BRRD. However, the EBA recognises that some of these questions may still benefit from clarification and will notify submitters affected by this rejection, indicating the possibility to resubmit the question. In that scenario, resubmitted questions would, however, have to be adapted to reflect any legislative, regulatory or other relevant developments that may have occurred, as well as the criteria referred to below. The EBA will aim to address such resubmissions as a matter of priority.
In addition, the EBA and the European Commission will make efforts to address any questions submitted since January 2020 that remain unanswered as soon as possible.
Adjustments to the EBA Q&A process, to be applied going forward, have also been introduced. The EBA will prioritise Q&As that can contribute most to the harmonisation of regulation and supervision in the EU. To do this, the admissibility criteria have been adjusted to ensure that the work prioritises issues that: i) are relevant to a broad set of stakeholders, ii) are material from a prudential, payments, consumer protection, resolution or other perspectives within the EBA’s remit, iii) need guidance or clarification. These criteria should also be taken into account when resubmitting questions that were rejected as indicated above. The EBA is also taking measures to target closing Q&As within 9 months, including focusing the process on answering those Q&As which raise material issues relevant for a broad set of stakeholders where additional EBA guidance or clarification would add real value. If, exceptionally, this period is unlikely to be met, the submitter will be informed and additional steps taken to ensure prompt finalisation.
Q&A submitters and other stakeholders are invited to review the updated Q&A webpages and the Additional background and guidance for asking questions.
Since the launch of the Q&A process in June 2013, the EBA has answered over 2100 questions submitted in its tool.
The process is governed by Article 16b Questions and answers of Regulation (EU) No 1093/2010 (“EBA Regulation”).