The Joint Committee of the European Supervisory Authorities (ESAs) published its fifth Report on Risks and Vulnerabilities in the EU Financial System. Overall, the report found that in the past six months, risks affecting the EU financial system have not changed in substance, but have further intensified.
The European Banking Authority (EBA) launched today a consultation to update its data template for the identification of global systemically relevant institutions (G-SIIs). The need for this revision was prompted by the new data template and some minor revisions introduced by the Basel Committee on Banking Supervision (BCBS) in January 2015 for the identification of global systemically important banks (G-SIBs). The consultation runs until 20 May 2015.
The EBA acknowledges notification from the Bank of Greece with respect to its decision on Resolution of Panellinia Bank S.A.
The European Banking Authority (EBA) today published its annual assessment of EU colleges of Supervisors, responsible for the oversight of cross border banks. The report assesses how colleges have functioned during 2014 and identifies key activities for the effective oversight of EU cross border banking groups in 2015. The report introduces items for supervisory attention in 2015, including conduct risk, Information Technology (IT) risks and the need for effective decisions on recovery plans.
The EBA launched a public consultation on its guidelines proposing criteria to set limits on EU institutions’ exposures to shadow banking entities. The document lays out a qualitative approach for institutions to develop their internal policies for monitoring and setting appropriate limits, both at individual and aggregate levels. These guidelines will also help inform the Commission’s work in relation to its report on the appropriateness and impact of imposing limits on exposures to shadow banking entities under Article 395(2) of the Capital Requirements Regulation (CRR). The consultation runs until 19 June 2015.
The EBA published today a revised version of its Work Programme for 2015. This review was carried out following the receipt of some additional mandates and a reduction to the EBA budget, which took place since the adoption of the EBA's 2015 Work Programme in September 2014.
The European Banking Authority (EBA) published today its first annual Report addressed to the EU Parliament and the Council on the convergence of supervisory review practices in the EU banking sector. The Report covers the findings of an assessment carried out over the past 3 years and focuses on Supervisory Review and Evaluation Process and assessment of risks (SREP), supervisory stress testing, ongoing review of internal models, and supervisory measures and powers.
The Joint Committee of the European Supervisory Authorities (ESAs) is organising the third Joint ESAs Consumer Protection Day on 3 June 2015 in Frankfurt am Main. The event will bring together, from all over Europe, thought leaders of consumer/investor organisations, national regulators, EU institutions, academics and key market participants to discuss consumer protection-related issues in the financial services area.
The European Banking Authority (EBA) launches today a call for research papers in view of its fourth policy research workshop taking place on 18-19 November 2015 in London on the topic ‘Financial regulation and the real economy: a micro-prudential perspective’.
The European Banking Authority (EBA) published its Final Guidelines on standardised fee terminology for EU payment accounts in the EU. These guidelines are the first step towards developing standardised terminology across the EU. They are developed in accordance with the EU Payment Accounts Directive, which requires standardisation of terminology for services that are found to be common in at least a majority of Member States. These Guidelines have been finalised following a two-month consultation period that ended in January 2015.
The European Banking Authority (EBA) published today an update to its periodic risk dashboard summarising the main risks and vulnerabilities in the EU banking sector on the basis of the evolution of Key Risk Indicators (KRI) from 55 banks for the third quarter of 2014. This edition of the risk dashboard is the first to have balance sheet information based on the supervisory reporting standards from FINREP, the Financial Reporting framework for financial institutions across the EU.
The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) amending the Commission's Implementing Regulation (EU) No 680/2014 on supervisory reporting. These final draft ITS include minor changes to templates and instructions which the EBA deemed necessary to publish in order to reflect some of the answers published in its Single Rulebook Q&A, as well as to correct legal references and other clerical errors. The amendments are expected to be applicable for reporting as of June 2015.
The European Banking Authority (EBA) published today an Opinion addressed to the European Commission on several aspects related to the calculation of own funds requirements for Credit Valuation Adjustment (CVA) risk. The sixteen policy recommendations in the Opinion build on an extensive technical analysis conducted by the EBA, which is also published today in the form of a Report and a Review. Based on the findings of the Report, the Commission may adopt a delegated act.
The European Banking Authority (EBA) issued today a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting, highlighting those which have been deactivated either for incorrectness or for triggering IT problems. Competent Authorities throughout the EU are informed that data submitted in accordance with these ITS should not be validated against the set of deactivated rules.
The European Banking Authority (EBA) launched a public consultation on its draft Regulatory Technical Standards (RTS) on the content of “Business Reorganisation Plans and Progress Reports” and Guidelines on the assessment of these plans. The RTS and the Guidelines have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) which sets procedures for the recovery and resolution of credit institutions, investment firms and related entities across the EU. The consultation runs until 9 June 2015.
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a consultation on draft Implementing Technical Standards (ITS) on the allocation of External Credit Assessment Institution (ECAIs) to an objective scale of credit quality steps under Solvency II.
The European Banking Authority (EBA) launched today a public consultation on draft Regulatory Technical Standards (RTS) on detailed records of financial contracts of institutions or relevant entities. These RTS have been developed within the framework established by the Bank Recovery and Resolution Directive (BRRD) which sets procedures for the recovery and resolution of credit institutions, investment firms and related entities across the EU Single Market. These standards aim to guarantee appropriate convergence in record keeping across the EU, whilst also ensuring that differences in institutions or relevant entities are taken into account. This consultation runs until 6 June 2015.
The EBA acknowledges notification from the Austrian Financial Market Authority (Finanzmarktaufsicht, FMA) with respect to its decision on Heta Asset Resolution AG.
The European Banking Authority (EBA) announced today that significant potential concentration problems in Sweden justify the application of a partial waiver on covered bonds. The opinion is addressed to the Swedish Financial Supervisory Authority (Finansinspektionen) and follows their notification that they intend to implement a partial waiver on the eligibility of covered bonds in relation to risk weight preferential treatment. The verdict comes after a review of the Swedish covered bonds market and concerns the application of Article 129 (1) of the Capital Requirements Regulation (CRR).
The European Banking Authority (EBA) launched today a discussion paper on the regulatory measures needed to ensure a robust and clear framework for Internal Ratings Based (IRB) models. The discussion paper seeks stakeholders’ feedback on both how to implement the necessary measures in a consistent way and how to bring forward future changes to the current approach. In addition, an overview of the regulatory measures that are under way is provided. The consultation runs until 5 May 2015.