Final draft adopted by the EBA and submitted to the European Commission
The Bank Recovery and Resolution Directive (BRRD) requires resolution authorities to draw up resolution plans that outline the actions to be taken in case an institution meets the conditions for resolution. The ITS on procedures, standard forms and templates for the provision of information for the purpose of resolution plans sets out a procedure that should be followed when resolution authorities require information about an institution for the purpose of drawing up a resolution plan.
The European Banking Authority (EBA) published today phase 2 of version 3.2 of its reporting framework. The technical package supports the implementation of the updated reporting framework by providing standard specifications and includes the validation rules, the Data Point Model (DPM) and the XBRL taxonomies for version 3.2.
In particular, the updated technical package supports the amendments to supervisory benchmarking and resolution reporting, with reference dates as of September 2022 and December 2022 respectively. The package also includes some technical amendments on minimum requirement for own funds and eligible liabilities (MREL) and funding plans reporting, and updates for the reporting of one single module covering the Consolidated/Individual and IFRS/GAAP old approach.
The DPM Query Tool has also been updated to reflect the current release.
The European Banking Authority (EBA) acknowledged today the adoption by the European Commission of the Implementing Regulation on the procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms, repealing Regulation (EU) 2016/1066. The Implementing Regulation, which is based on the final draft Implementing Technical Standards (ITS) on the provision of information for resolution plans submitted by the EBA in April 2018, was adopted by the Commission on 23 October 2018. Its publication in the EU Official Journal is still pending. The reporting requirements will apply as of 31 December 2018 (reporting framework v2.8).
Click here to access the act and annexes of the Implementing Regulation adopted by the European Commission.
The related documents published on EBA's website have been updated to reflect the adoption of the Implementing Act (see Implementing Technical Standards on reporting for resolution planning and reporting framework 2.8).
The European Banking Authority (EBA) published today draft implementing technical standards (ITS) amending the ITS on provision of information for the purpose of resolution plans (Implementing Regulation (EU) 2018/1624). The amendments are minimal and aim at re-aligning the standards with the provisions of the Bank Recovery and Resolution Directive (BRRD), following the changes to the minimum requirement for own funds and eligible liabilities (MREL) introduced in the revised BRRD2, as well as to remove some identified obstacles, at the technical level, that hamper compliance with the requirements specified in these ITS. The amended ITS are envisaged to apply for the first time with the reference date of 31 December 2021.
The EBA published today its final Guidelines and final draft Implementing Technical Standards (ITS) relating to the eligibility of institutions for simplified obligations in the context of recovery planning, resolution planning and resolvability assessments under the Bank Recovery and Resolution Directive (BRRD). The EBA also issued final draft ITS on the procedures, forms and templates for submitting information on resolution plans under the BRRD. The work of the EBA aims at promoting a common EU framework for the application of simplified obligations, in line with the principle of proportionality, and to facilitate cooperation among EU authorities.
These Guidelines establish a set of indicators against which competent and resolution authorities should assess the impact of the failure of an institution to determine its eligibility for simplified obligations.
Competent authorities and resolution authorities will also be required to notify the EBA on the way they assessed institutions against the criteria set out in the BRRD, including the mandatory indicators specified in the Guidelines, and the nature of the simplified obligations applied to eligible institutions. The draft ITS includes a number of templates and definitions to be used by competent and resolution authorities for this purpose. The EBA will monitor any divergence of approach in the application of simplified obligations and will report accordingly to the European Parliament, the Council and the Commission by 31 December 2017.
Moreover, the ITS on procedures, forms and templates for the provision of information for resolution aim to harmonise the process for the submission of such information to resolution authorities and to facilitate the exchange of information between home and host resolution authorities during the resolution planning process for cross-border institutions and groups.
These ITS and Guidelines have been developed according to Articles 4(5), 4(7) and 11(3) of the BRRD.
The final draft ITS have been submitted to the European Commission for endorsement, following which they will be subject to scrutiny by the European Parliament and the Council before being published in the Official Journal of the European Union.
The guidelines will be translated into the official EU languages and published on the EBA website. The deadline for competent authorities to report whether they comply with the guidelines will be two months after the publication of the translations. The guidelines will apply 2 months and 1 day after the publication of the translations.