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The Joint Committee of the European Supervisory Authorities (ESAs) today hosts its 4th “Joint ESAs Consumer Protection Day” in Paris.

The EBA issued today advice to the European Commission on the resolution framework for EU banks, covering the definition of critical functions and core business lines, as well as rules for the exclusion of liabilities from the application of the bail-in tool. The Authority reminded that the purpose of the bail-in tool is to ensure the legislative principle that shareholders and creditors of a failing institution have to bear its losses, and as such exemptions should be applied cautiously. The EBA advice on critical functions is based on its work on rules for recovery planning and on a comparative analysis of the recovery plans of 27 European cross-border banking groups which identified key strengths and weaknesses in banks’ approaches and is also published today.

The European Banking Authority (EBA) launched today a public consultation on draft Implementing Technical Standards (ITS) on the procedures and templates which Resolution Authorities should use when informing the EBA of the minimum requirements for own funds and eligible liabilities (MREL) that have been set for each institution under their jurisdiction. These standards will enable the EBA to monitor on a consistent basis the implementation of MREL across the Union.

The European Banking Authority (EBA) published today its response to the European Commission’s call for advice of 26 April 2016 on the review of the large exposures framework laid down in the Capital Requirements Regulation (CRR). The EBA’s response has been provided in the form of a report divided in three different sections and including also recommendations to entrust the EBA with additional mandates to further simplify and harmonise the large exposures regime. This report will support the Commission in its review of the large exposures framework as part of the overall CRR review.

On 18 November 2016, from 13.00 to 16.00 UK time, the European Banking Authority (EBA) will be holding a public hearing to outline its draft proposals on the European covered bond framework. The hearing comes as a follow-up to the recommendation by the European Systemic Risk Board (ESRB) and ahead of the expected publication of the final report by end of 2016.

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) has published today two draft Implementing Technical Standards (ITS) on credit assessments by External Credit Assessment Institutions (ECAIs). By determining an objective approach for attributing risk weights to the assessments of ECAIs, as well as a prudential approach for those cases lacking factual evidence, these standards will ensure sound credit assessments contributing to financial stability in the EU.

The European Banking Authority (EBA) published today its detailed annual work programme for 2017, describing the specific activities and tasks of the Authority for the coming year, as well as a multiannual work programme, highlighting the key strategic areas of work in the coming years (from 2017 to 2020).

The European Banking Authority (EBA) published today a reminder to competent authorities of the key dates for the submission of data for the 2017 benchmarking exercise for internal approaches for credit and market risk. This would ensure a smooth and timely start of the exercise although the Commission’s endorsement of the amended version of the Implementing Technical Standards (ITS) on benchmarking of internal approaches for running the 2017 exercise is still pending.

The European Banking Authority (EBA) published today its final Guidelines on corrections to modified duration for debt instruments. The objective of these Guidelines is to establish what type of adjustments to the modified duration (MD) - as defined according to the formulas in the Capital Requirements Regulation (CRR) - have to be performed in order to appropriately reflect the effect of the prepayment risk. The Guidelines will contribute towards the successful implementation of the Commission's securitisation package under the Capital Markets Union reform, giving clarity on the matter to credit institutions.

The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on the assessment of the Information and Communication Technology (ICT) risk in the context of the Supervisory Review and Evaluation Process (SREP). These draft Guidelines are addressed to competent authorities and aim at promoting common procedures and methodologies for the assessment of ICT risk.

The European Banking Authority (EBA) published today its final Guidelines on implicit support for securitisation transactions. The objective of these Guidelines is to clarify what constitutes arm’s length conditions and to specify when a transaction is not structured to provide support for securitisations. The Guidelines will contribute towards the successful implementation of the Commission’s securitisation package under the Capital Markets Union reform, giving clarity on the matter to credit institutions.

The European Banking Authority (EBA) launched today a data collection aimed at supporting the response to the European Commission's Call for Advice on a new prudential framework for MifiD (Markets in Financial Instruments Directive) investment firms, which should be less complex, more risk sensitive and more proportionate than the current regime.

The European Banking Authority (EBA) published today the periodic update of its Risk Dashboard. This report summarises the main risks and vulnerabilities in the banking sector by the evolution of a set of Risk Indicators (RI) across the EU in Q2 2016. The update shows an increase in EU banks’ capital ratios, while the low profitability and the high level of NPLs remain a concern.

The European Banking Authority (EBA) published today its final Guidelines on remuneration policies and practices related to the provision and sale of retail banking products and services. The EBA had previously identified poor remuneration policies and practices as a key driver of miss-selling of financial products and services. The Guidelines aim, therefore, to protect consumers from related risks and to reduce conduct costs for financial institutions. They will apply from 18 January 2018.

The EBA has received a notification from Finansiel Stabilitet (Danish Resolution Authority) in respect of the sale of Andelskassen J.A.K. Slagelse, an institution that was put under its control in the context of the application of resolution measures.

The European Banking Authority (EBA) published today its final Guidelines specifying the application of the definition of default across the EU and its final draft Regulatory Technical Standards (RTS) on the materiality threshold of past due credit obligations. The EBA also released the results of a quantitative and qualitative impact study (QIS) aimed at assessing the impact on the regulatory capital requirements of selected policy options to harmonise the definition of default used by EU institutions. Both the Guidelines and the final draft RTS will harmonise the definition of default across the EU, thus contributing to improving consistency and comparability of capital requirements.

The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) on the procedures, forms and templates that Competent Authorities in the EU should use when consulting each other on qualifying holdings. The objective of these ITS is to streamline information exchanges and ensure effective communications between concerned authorities, both on a cross-border basis and across sectors.

The European Banking Authority (EBA) published today a consultation paper on draft technical standards setting out the standardised terminology for services linked to a payment account, the standardised format and common symbol of both the fee information document (FID) and the statement of fees (SoF).

The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on the criteria Competent Authorities should consider when stipulating the minimum monetary amount of the professional indemnity insurance (PII) or comparable guarantee for payment initiation and account information service providers under the revised Payment Service Directive (PSD2).

The European Banking Authority (EBA) has launched today a public consultation on its interim report on the implementation and design of the minimum requirement for own funds and eligible liabilities (MREL). The interim report is addressed to the European Commission, and it will inform a future legislative proposal on the implementation of the Financial Stability Board’s “total loss-absorbing capacity” (TLAC) standard in the EU and the review of MREL. Further elements will be covered in the EBA’s final report which will be provided to the European Commission by 31 October 2016.