The Joint Committee of the European Supervisory Authorities (EBA, ESMA and EIOPA) published today its Work Programme for the upcoming year. Throughout 2015, the Joint Committee will continue to give high priority to Consumer Protection and Cross-Sectoral Risk Analysis.
The report presents the first results of the review done by the European Banking Authority (EBA) on the issuances of Additional Tier 1 (AT1) capital instruments. The Capital Requirements Regulation (CRR) tasks the EBA with monitoring the quality of own funds instruments issued by institutions across the European Union (EU). This review is preliminary and the EBA expects to gather further insight on the basis of future issuances.
The EBA launched today a consultation on draft Regulatory Technical Standards (RTS) and Guidelines specifying the various conditions for the provision of group financial support, and on draft Implementing Technical Standards (ITS) on the disclosure of group financial support agreements. These Technical Standards and Guidelines have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) and aim at strengthening integrated risk management by removing possible uncertainties around supporting entities in distress within the same group. The consultation runs until 4 January 2015.
The European Banking Authority (EBA) launched today a consultation on its draft Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP). These guidelines will be applied in the supervision of all institutions across the Union and represent a major step forward in forging a consistent supervisory culture across the single market. The guidelines provide a common framework for the work of supervisors in their assessment of risks to banks’ business models’, their solvency and liquidity. These guidelines will be a key component of the EU Single Rulebook aimed at improving the functioning of the internal market, including a sound, effective and consistent level of regulation and supervision in the banking sector. The consultation runs until 7 October 2014.
The European Banking Authority (EBA) launched today a consultation on draft Guidelines clarifying the interrelationship between the sequence in which liabilities should be written down or converted when the bail-in power introduced by the Bank Recovery and Resolution Directive (BRRD) is used, and the hierarchy of capital instruments in the Capital Requirements Regulation (CRR). This is the first of several EBA regulatory mandates under the BRRD which aim to ensure that bail-in power is an effective way of absorbing losses and recapitalising banks in resolution and that resolution authorities and other stakeholders have a clear understanding of the terms under which it should be applied. The consultation runs until 3 January 2015.
The European Banking Authority (EBA) published today indicators from global systemically important institutions (G-SIIs) as provided for in the Implementing Technical Standards (ITS) and Guidelines on disclosure rules applicable to large institutions.