Question ID
2023_6841
Legal act
Regulation (EU) No 575/2013 (CRR)
Topic
Transparency and Pillar 3
Article
433b
Paragraph
1, 2
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Regulation (EU) 2021/637 - ITS with regard to disclosures of information referred to in Titles II and III of Part Eight CRR
Article/Paragraph
1
Type of submitter
Credit institution
Subject matter
Disclosure requirements for non-complex and non-listed institutions
Question

We would appreciate clarification regarding disclosure requirements by institutions detailed in Part 8 of CRR 575/2013, more precisely Article 433b, paragraphs (1) and (2).

Should non-listed small and non-complex institutions disclose paragraphs 1, points (a) and (b) on an annual basis or what should they consider to be correct, key metrics from article 447 also on an annual basis?

Background on the question

Our interpretation of the Article 433b, paragraph 2 which states “By way of derogation from paragraph 1 of this Article, small and non-complex institutions that are non-listed institutions shall disclose the key metrics referred to in Article 447 on an annual basis.“ is such that non-listed small and non complex institutions are not obliged to disclose requirements which are stated in paragraph 1, point (a) of the Article 433b of CRR 575/2013.

Our reasoning is in the formulation of paragraph 2 which clearly states “By way of derogation from paragraph 1 of this Article…“, meaning that paragraph 2 completely derogates paragraph 1 and not only paragraph 1, point (a), therefore requests only the disclosure of the key metrics referred to in Article 447 on an annual basis which are stated in paragraph 2.

Submission date
Rejected publishing date
Rationale for rejection

This question has been rejected because the issue it deals with is going to be clarified by the upcoming amendments to Article 433b(2) of Regulation (EU) No 575/2013 as agreed in the EU banking package published on the Council's website on 6 December 2023 at the following link: Banking sector: Provisional agreement reached on the implementation of Basel III reforms - Consilium (europa.eu)

For further information on the purpose of this tool and on how to submit questions, please see 'Additional background and guidance for asking questions'.

Status
Rejected question