Search
Guidelines for the joint assessment and joint decision regarding the capital adequacy of cross-border groups
The Capital Requirements Directive (CRD) requires that the consolidating supervisor and supervisors of subsidiaries involved in the supervision of an EEA cross-border banking group do everything within their power to reach a joint decision on the application of the Pillar 2 provisions related to the Internal Capital Adequacy Assessment Process (ICAAP) and to the Supervisory Review and Evaluation Process (SREP). These Guidelines provide concrete guidance on how to cooperate in the risk assessment process and on how to apply the CRD provisions regarding ICAAP, SREP and the prudential measures subject to the joint decision process. Their ultimate aim is to ensure closer convergence of supervisory practices with regard to the joint decision process, while providing some necessary flexibility for individual colleges.
Guidelines for the operational functioning of colleges
These guidelines aim at providing guidance for the operational functioning of colleges. In particular, they provide practical guidance to supervisors involved within a college on the different tasks they are asked to perform, including the process of setting up the college, the organisation of the exchange of information among college members and the communication with the management of the supervised institutions. They also complement the provisions set out in the Capital Requirements Directive (CRD), where necessary, so as to avoid inconsistencies and to promote convergence of practices across colleges.
Guidelines for Passport Notifications for credit institutions
Implementing Technical Standards on disclosure for leverage ratio
Guidelines for cross-selling practices
MiFID II mandated European Securities and Markets Authority (ESMA), in cooperation with the European Banking Authority (EBA) and European Insurance and Occupational Pensions Authority (EIOPA), to develop Guidelines for the assessment and the supervision of cross-selling practices. In order to take into account the cross-sectoral implications of this mandate, the three European Supervisory Authorities (ESAs) published the draft Guidelines under the auspices of the Joint Committee, and did so by widening the scope such that they consistently cover cross-selling practices in all three sectors. Following the joint consultation, several concerns were raised as to the ESAs’ ability to address cross-selling in a way that is compatible with related provisions in other Level 1 legislation, such as the Mortgage Credit Directive and the Payment Accounts Directive. Therefore, the Joint Committee decided not to issue final joint Guidelines, and for ESMA instead to issue its ESMA-only Guidelines covering only the investment sector. In addition, the three ESAs sent a letter to the European Commission asking the co-legislator to address the differences in the existing legislation and to ensure that the ESAs can regulate cross-selling practices in a consistent way across the three sectors, for the benefit of consumers, financial institutions, and supervisory authorities.
Implementing technical standards on joint decisions on prudential requirements
The draft ITS set out in detail aspects of the supervisory cooperation in the joint decision process for an initial application, and for the approval of material extensions or changes to internal models.
Regulatory and implementing technical standards on the functioning of colleges of supervisors
The draft RTS specify general conditions for the establishment and functioning of colleges of supervisors, while the draft ITS establish important procedures to structure and facilitate the interaction and cooperation between the consolidating supervisor and the relevant competent authorities.