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European Supervisory Authorities respond to European Commission on amendments to PRIIPs rules
The European Supervisory Authorities (ESAs) have published their response to the European Commission on the amendments the Commission proposes to make to the draft regulatory technical standards (RTS) on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPS).
Report on the Cyclicality of Capital Requirements (EBA-Op-2016-24).pdf
Report on the Cyclicality of Capital Requirements (EBA-Op-2016-24)
EBA recommends retaining risk-sensitive framework for banks regulatory capital
The European Banking Authority (EBA) published today its Report on cyclicality of banks’ capital requirements aiming at clarifying whether risk-sensitive bank capital requirements as laid down in the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD) create unintended pro-cyclical effects by reinforcing the endogenous relationships between the financial system and the real economy. This report, which has been drafted in close cooperation with the European Systemic Risk Board (ESRB) and the European Central Bank (ECB) is in response to a request by the European Commission to understand whether CRDIV/CRR requirements exert significant effects on the economic cycle and, if so, whether any remedial measures are justified. In addition, this Report may inform the European Commission’s currently ongoing reviews of the EU micro- and macro-prudential frameworks and could serve as a valuable complementary contribution to the global discussions about the bank capital regulatory framework.
Consultation on Technical Standards on standardised terminology and disclosure documents under the PAD
EBA launches data collection addressed to commodity derivatives firms to review the prudential framework for investment firms
The European Banking Authority (EBA) launched today a data collection for commodity derivatives firms that will support the European Commission in the calibration of the new prudential regime for investment firms. This exercise follows up on the consultation the EBA launched on 4 November 2016 in response to the European Commission's call for technical advice on the design of a new prudential regime for investment firms, including the extent to which the new regime would also be suitable for or adaptable to specialised commodity derivatives firms.
EBA Decision EU-wide stress test in 2017 (EBA-2016-D-1062).pdf
EBA Decision EU-wide stress test in 2017 (EBA-2016-D-1062)
EBA report on liquidity measures and the review of the phase-in of the liquidity coverage requirement (EBA-Op-2016-22).pdf
EBA report on liquidity measures and the review of the phase-in of the liquidity coverage requirement (EBA-Op-2016-22)
EBA to run its next EU-wide stress test in 2018
In its meeting on 6 December 2016, the Board of Supervisors of the European Banking Authority (EBA) decided to carry out its next EU-wide stress test in 2018, in line with its previous decision to aim for a biennial exercise. The EBA will start immediately to prepare the methodology for the 2018 stress test exercise, which will also include an assessment of the impact of IFRS 9, which will be implemented on 1 January 2018. This decision has been communicated to the European Parliament, the Council and the Commission. In 2017, the EBA will perform its regular annual transparency exercise.
EBA sees considerable improvement in the average LCR across EU banks
The European Banking Authority (EBA) published today its third impact assessment Report for the liquidity coverage ratio (LCR), together with a review of its phasing-in period. The Report shows a constant improvement of the average LCR across EU banks since 2011. At the reporting date of 31 December 2015, EU banks’ average LCR was significantly above the 100% minimum requirement, which will have to be fully implemented by January 2018, and no strong evidence was found suggesting that the EBA should recommend an extension of the phasing-in period of the LCR. The Report, which is based on liquidity data from 194 EU banks across 17 Member States, is the first publication after the implementation of the minimum binding standards in 2015 and accounts for the provisions of the Commission’s Delegated Regulation on the LCR.
EBA consults on supervision of significant branches
The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on the supervision of significant branches. Prompted by the increasing demand to establish branches across the European Union, these Guidelines are designed to facilitate cooperation and coordination between the Competent Authorities (CAs). They will assist them in supervising the largest systemically important branches, the so-called “significant-plus” branches, which require intensified supervision.
EBA BS 2016 423rev1 (Minutes BoS 25-26 October 2016).pdf
Minutes
EBA Data Instructions for Commodity Derivatives Firms.pdf
Consultation Paper on Guidelines on supervision of significant branches (EBA-CP-2016-24).pdf
Consultation Paper on Guidelines on supervision of significant branches (EBA-CP-2016-24)
EBA Report on Covered Bonds (EBA-Op-2016-23).pdf
EBA Report on Covered Bonds (EBA-Op-2016-23)
EBA Data templates for Commodity Derivatives Firms Final.xlsx
JC 2016 71 Final Report Good Supervisory Practices for Reducing Mechanistic Reliance on Credit Ratings.pdf
Final Report on good Supervisory Practices for reducing mechanistic reliance on credit ratings (JC 2016 71)
European Supervisory Authorities issue report on reducing reliance on credit ratings
The Joint Committee of the three European Supervisory Authorities (ESAs) has today published a Report on good supervisory practices for reducing sole and mechanistic reliance on credit ratings. The Report is directed at the nationally appointed Sectoral Competent Authorities (SCAs) for a wide range of financial institutions, such as credit institutions, investment firms, asset management companies and insurance undertakings.
EBA recommends a harmonised EU-wide framework for covered bonds
The European Banking Authority (EBA) published today a Report including recommendations on how to harmonise covered bond framework in the EU. This Report represents an unparalleled attempt to further strengthen the covered bonds across the EU and seeks to ensure that only those financial instruments that comply with the harmonised structural, credit risk and prudential standards can be branded as ‘covered bonds’ and have access to special regulatory and capital treatment as provided in the current EU financial regulation.
ESAs publish the revised Joint Guidelines on the Prudential Assessment of Acquisitions and Increases of Qualifying Holdings in the Financial Sector
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today the revised Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the banking, insurance and securities sectors, replacing the previous Guidelines, adopted in 2008.