When checking the P3 Frequency of disclosure table (Transparency and Pillar 3 | European Banking Authority) for reporting date 30-06-2025 we noticed that according to P3 Frequency of disclosure table (excel row 145_Disclosures on MREL/TLAC - Templates_with relevant article 15 with regard to the public disclosure of the minimum requirement for own funds and eligible liabilitie and point (a) of Article 437a, in accordance with 434a of CRR) bank "ABC" as "Large institutions (Listed and No GSII)" should publish P3-disclosure related to point (a) of Article 437a, in accordance with 434a of CRR on a semi-annual basis.
However, according to the article 15 of ITS with regard to the public disclosure of the minimum requirement for own funds and eligible liabilities only institutions, that are G-SIIs or part of a G-SII and entities that are material subsidiaries of non- EU G-SIIs and that are not themselves resolution entities (subject to article to CRR Article 92a or 92b) shall make the disclosures set out in point (a) of Article 437a.
So, we are experiencing some inconsistency between these 2 sources: P3 Frequency of disclosure table (Transparency and Pillar 3 | European Banking Authority) vs article 15 of ITS with regard to the public disclosure of the minimum requirement for own funds and eligible liabilities.
As mentioned above, bank "ABC" is identified as “Large institutions (Listed and no G-SII)” and does not meet the above-mentioned requirement of article 15 of ITS with regard to the public disclosure of the minimum requirement for own funds and eligible liabilities only institutions and CRR article 437a as the bank is a ‘No G-SII’ entity. So, our initial conclusion is that bank "ABC" does not need to disclose information as set out in point (a) of Article 437a, in accordance with 434a of CRR on a semi-annual basis.
But in the above-mentioned P3 Frequency of disclosure table (Transparency and Pillar 3 | European Banking Authority) it does indicate that LARGE INSTITUTIONS (LISTED AND NO GSII), which bank "ABC" is, should provide information as set out in point (a) of Article 437a, in accordance with 434a of CRR on a semi-annual basis. Now, this caused us a little bit confusion and we are trying to find supporting regulations to verify the obligation for “Large institutions (Listed and no G-SII)” to provide information as set out in point (a) of Article 437a, in accordance with 434a of CRR on a semi-annual basis.
Based on item 5a of article 9 ITS with regard to the public disclosure of the minimum requirement for own funds and eligible liabilities only institutions we noticed that large institutions (so applicable for bank "ABC") are required to provide disclosures as referred to in Article 15, while Article 15 also describes that only entities that are subject to Article 92a or 92b shall disclose information as set out in point (a) of Article 437a, in accordance with 434a of CRR on a semi-annual basis.
So, our questions are:
Should we read “Disclosures referred to in Article 15’ as mentioned in item 5a of article 9 ITS with regard to the public disclosure of the minimum requirement for own funds and eligible liabilities only institutions as “Disclosure of main features of own funds and eligible liabilities” and ignore the remaining part as this is not meant as “disclosure”?
Is dVB as LARGE INSTITUTIONS (LISTED AND NO GSII) obliged to provide information as set out in point (a) of Article 437a, in accordance with 434a of CRR on a semi-annual basis as prescribed in EBA’s template “Frequency of disclosures”?
If bank "ABC" is obliged to disclose this on semi-annual basis, do we a have the choice to either disclose this qualitatively or quantitively by voluntarily providing both templates TLAC1 and TLAC3b, which are not required for LARGE INSTITUTIONS (LISTED AND NO GSII) on semi-annual basis, as the information as set out in point (a) of Article 437a, in accordance with 434a of CRR are already captured and included in these 2 existing templates? In EBA’s template “Frequency of disclosures” it is not precisely described how banks should disclose that. It does only mention that bank should provide information as set out in point (a) of Article 437a.
- Legal act: Regulation (EU) No 575/2013 (CRR)
- COM Delegated or Implementing Acts/RTS/ITS/GLs: Regulation (EU) 2021/763 – ITS with regard to the supervisory reporting and public disclosure of MREL
