The European Banking Authority (EBA) launched today a public consultation on draft Regulatory Technical Standards (RTS) and draft Implementing Technical Standards (ITS) on the functioning of supervisory colleges under the Capital Requirements Directive (CRD). These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges is better aligned with the Level 1 regulation and able to promote a more efficient and effective supervision of cross-border banking groups. The consultation runs until 30 August 2023.
The RTS and the ITS on colleges of supervisors are being updated by 1) implementing the requirements laid down in the CRD V and CRR 2 as well as 2) reflecting the observations from the EBA’s ongoing college monitoring activity on the functioning of supervisory colleges.
The main updates covered the following areas:
- enhanced information exchange within the college, as well as with observers, in going concern and in emergency situations
- effective identification of emerging risks in case of an event of adverse material impact on the risk profile of the group or its entities;
- appropriate use of the possibility for “entrustment of tasks and delegation of responsibility”, when it facilitates efficient and effective supervision of cross-border banking groups.
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 30 August 2023. All contributions received will be published following the end of the consultation, unless requested otherwise.
A public hearing will be organised in the form of a webinar on 28 June 2023 from 13:00 to 14:00 CET. The EBA invites interested stakeholders to register using this link by 26 June 2023 at 16:00 CET. The dial-in details will be communicated to the registered participants.
Legal basis and next steps
These draft technical standards (TS) have been developed in accordance with Article 51(4) and Article 116(4) of Directive 2013/36/EU, which mandates the EBA to develop draft RTS specifying the general conditions of functioning of the colleges of supervisors, as well as draft ITS determining the operational functioning of the colleges of supervisors.
The EBA expects to submit these draft TS to the European Commission in Q4 2023.
In view of the considerable changes, the current RTS and ITS on colleges of supervisors issued by the European Commission in 2016 will be repealed as soon as the new ones are issued.
Note: A Public Hearing is related to this consultation but is not visible to public users since the date is past