EBA issues second update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges

The European Banking Authority (EBA) published today an amended Recommendation on the equivalence of confidentiality regimes. Several additional non-EU supervisory authorities were added to the list of non-EU or third country supervisory authorities whose confidentiality regimes can be regarded as equivalent.

The EBA Recommendation is designed as a guide for EU authorities in their assessment of the equivalence of confidentiality regimes of third country supervisory authorities to facilitate their participation in supervisory colleges overseeing international banks.

The following third country authorities have been added to the Recommendation: the Australian Prudential Regulation Authority, the Reserve Bank of Australia, the Hong Kong Monetary Authority, the Bank of Japan, the Japan Financial Services Agency, and the Central Bank of the Republic of Kosovo. This Recommendation was based on the assessment of the confidentiality regimes and follows the prescriptions in the Capital Requirements Directive (CRDIV) on the participation of third country authorities in EU colleges of banking supervisors.