The access to the market of regulated financial services is a critical 'gate keeping function' to ensure that only entities that are able to assure the safety and soundness of the business and the integrity of the market may provide such activities. For this reason, access to the market is subject to licensing by the competent authority. It includes authorisation, passporting notification, assessment of qualifying holdings and monitoring of regulatory perimeter also in light […]
The Deposit Guarantee Scheme Directive (DGSD) aims to facilitate access to the internal market through the freedom of establishment and the freedom to provide financial services while increasing the stability of the banking system and the protection of depositors. To fulfil its role of monitoring the implementation of the DGSD, national authorities must notify the EBA of any relevant information as well as of any actions taken. The EBA publishes the non-confidential elements of these […]
Sustainable finance aims at integrating Environmental, Social or Governance (ESG) criteria into financial services, and at supporting sustainable economic growth. It also aims at increasing financial actors' awareness and transparency about the need to mitigate ESG risks via an appropriate management, considering in particular the longer-term nature of such risks and the uncertainty on their valuation and pricing.In March 2018, the European Commission published its Action plan on Financing […]
The EBA has a strong interest in promoting sound and high quality accounting and disclosure standards for the banking and financial industry, as well as transparent and comparable financial statements that strengthen market discipline. The EBA also advocates for sound audit practices that contribute to high quality corporate reporting and to useful and understandable auditor reporting. The developments in the area of international accounting and auditing standard setting are, therefore, […]
Operational resilience is defined as the ability of an institution to deliver critical operations through disruption. This builds on the prudential operational risk framework, encompassing internal governance, outsourcing, business continuity and relevant risk management-related aspects. Such ability enables an institution to identify and protect itself from threats and potential failures, respond and adapt to, as well as recover and learn from disruptive events in order to minimise their […]
