The European Banking Authority (EBA) launched today a public consultation on its draft Regulatory Technical Standards (RTS) further specifying the eligibility criteria to determine whether institutions should be subject to simplified obligations when drafting their recovery and resolution plans. The consultation runs until 8 August 2017.
The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on security measures for operational and security risks under the revised Payment Services Directive (PSD2). The Guidelines have been developed in close cooperation with the European Central Bank (ECB), and are in support of the objectives of PSD2, such as strengthening the integrated payments market in the EU, mitigating the increased security risks arising from electronic payments, and promoting equal conditions for competition.
The European Banking Authority (EBA) published today an amended version of its Implementing Technical Standards (ITS) on benchmarking of internal approaches. These amendments aim at ensuring a better quality of the submitted data and, ultimately will assist the EBA and competent authorities in their 2018 assessment of internal approaches for credit and market risk. The EBA plans to annually update the ITS to ensure future benchmarking exercises are relevant and successful.
The European Banking Authority (EBA) published today an update to the XBRL taxonomy that Competent Authorities should use for the remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting. The revised taxonomy will be used for reference dates from 31 March 2018 onwards.
The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) amending the European Commission's Implementing Regulation (EU) No 680/2014 on supervisory reporting so as to keep reporting requirements in line with changes in the regulatory framework and with the evolving needs for Supervisory Authorities’ risk assessments. The updated ITS include (i) new information on sovereign exposures; (ii) changes to operational risk; (iii) changes to additional monitoring metrics for liquidity and (iv) Q&A- based changes and other minor amendments. These changes form part of the EBA reporting framework version 2.7, which will be applicable for submissions of data as of March 2018.
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) has published its spring 2017 Report on risks and vulnerabilities in the European Union’s financial system. The Report highlights the risks to the stability of the European financial sector in an environment subject to political and economic uncertainties. In particular, the protracted period of low profitability of banks and the difficulties faced by insurers to generate adequate returns to meet long-term liabilities in a low growth and low-yield environment remains a major challenge. In addition, the steepening of the yield curve may benefit earnings across all sectors but it also raises valuation concerns and, in the short term, may not be sufficient to alleviate the low profitability concerns. The Report also highlights the high valuation risk linked to search for yield strategies and repricing of risk premia. Rising operational risks related to information and communication technologies are increasingly requiring supervisory attention.
The European Banking Authority (EBA) launched today a call for research papers in view of its sixth policy research workshop taking place on 28-29 November 2017 in London on the topic "The future role of quantitative models in financial regulation".
The European Banking Authority (EBA) issued today a roadmap outlining its plans to update the common European framework for the supervisory review and evaluation process (SREP) in 2017-2018. The roadmap explains the multi-stage approach the EBA intends to follow in updating the EU SREP framework in 2017-2018 and beyond, and summarises the ongoing policy initiatives affecting Pillar 2/SREP that will need to be reflected in the revised EBA guidelines on Pillar 2 topics.
The European Banking Authority (EBA) published today a Report on the Peer Review carried out on its ITS on supervisory reporting aimed at assessing how supervisory authorities have ensured its consistent and comprehensive implementation. The Report summarises the outcomes of this assessment involving the supervisory authorities of all EU Member States, the European Central Bank (ECB)/Single Supervisory Mechanism (SSM) and the supervisory authorities of three European Free Trade Association (EFTA) countries (Iceland, Liechtenstein and Norway). Overall, the Peer Review concluded that most supervisory authorities have put in place robust processes and IT systems to ensure a timely, complete and correct data reporting.
The European Banking Authority (EBA) published today an Opinion addressed to the German Federal Financial Services Supervisory Authority (BaFin) following the Competent Authority's notification of its decision to introduce a partial waiver of Article 129 (1)(c) of the Capital Requirements Regulation (CRR), which specifies the conditions for the eligibility of covered bonds in relation to risk weight preferential treatment. Given the significant potential concentration problem in Germany, the EBA is of the opinion that the application of a partial waiver is adequately justified.
The European Banking Authority (EBA) published today an Opinion addressed to the Polish Financial Supervision Authority (FSA) following the Competent Authority’s notification of its intention to introduce a partial waiver of Article 129 (1)(c) of the Capital Requirements Regulation (CRR), which specifies the conditions for the eligibility of covered bonds in relation to risk weight preferential treatment. Given the significant potential concentration problem in Poland, the EBA is of the opinion that the application of a partial waiver is adequately justified.
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today 22 language versions of the final Guidelines on the characteristics of a risk-based approach to anti-money laundering and terrorist financing supervision under Directive (EU) 2015/849 on preventing the use of the financial system for money laundering or terrorist financing (Fourth Anti Money Laundering (AML) Directive).
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation on draft Guidelines that set out what payment service providers should do to detect and prevent the abuse of funds transfers for terrorist financing and money laundering purposes. These Guidelines are part of the ESAs’ wider work on fostering a common approach to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) and promote a common understanding of payment service providers’ obligations in this area. This is essential to ensure the consistent application of AML/CFT law, which not only strengthens the European Union’s AML/CFT regime but is also a prerequisite for the smooth and efficient functioning of payment systems. The consultation runs until 5 June 2017.
The European Banking Authority (EBA) issued today three sets of final Guidelines on bail-in under the Bank Recovery and Resolution Directive (BRRD). These Guidelines complement existing regulation and guidance to facilitate the use of the bail-in power as a way of absorbing losses and recapitalising banks in resolution. In particular the Guidelines clarify how valuation information should help determine the terms of bail-in.
The European Banking Authority (EBA) published today a periodical update of its Risk Dashboard summarising the main risks and vulnerabilities in the EU banking sector by a set of Risk Indicators in Q4 2016.
The European Banking Authority (EBA) welcomed the Central Bank of Kosovoas an additional signatory party to the Memorandum of Cooperation (MoC) with banking supervisory authorities in several South-Eastern European (SEE) countries. The MoCwas signed in 2015 to establish a framework for cooperation and information exchange.
The European Banking Authority (EBA) published today its 2016 annual assessment of EU supervisory colleges, which are established for the effective supervision of EU cross-border banking groups. The Report highlighted a number of achievements made by colleges in the course of 2016, including a good level and quality of engagement, and also identified areas for improvement as well as topics for supervisory attention for 2017. The Report relied on the EBA staff observations gained through their participation in colleges of supervisors and on the consolidated results of the individual college assessments conducted at the end of 2016.
The European Supervisory Authorities (ESAs – EBA, EIOPA and ESMA) welcome the European Commission's public consultation to seek views on possible changes to their current framework of operation.
The European Banking Authority (EBA) updated today the 2016 list of Other Systemically Important Institutions (O-SIIs) in the EU. O-SIIs - those institutions which, along with Global Systemically Important Institutions (G-SIIs) are deemed systemically important - have been identified by the relevant authorities across the Union according to harmonised criteria provided by the EBA Guidelines. This list also reflects the additional capital buffers that the relevant authorities have set for the identified O-SIIs.
The European Banking Authority (EBA) published today an Opinion following the notification by the National Bank of Belgium (NBB) of its intention to modify capital requirements in order to address an increase in macroprudential risk. Based on the evidence submitted by the NBB, the EBA does not object to the adoption of the proposed measures, which are based on Article 458 of the Capital Requirements Regulation (CRR).