Implementing Technical Standards on institutions’ public disclosures of the information referred to in Titles II and III of Part Eight of Regulation (EU) No 575/2013
- Status:
These new comprehensive Implementing Technical Standards (ITS) for financial institutions' public disclosure provide a complete Pillar 3 disclosure framework that seeks to facilitate its implementation by institutions and to improve clarity for users of this information. These ITS are designed to promote market discipline by moving from a silo-based approach, with different disclosure policy products, to an all-inclusive ITS. They also implement regulatory changes introduced by the CRR2 and align the disclosure framework with international standards.
Since the application of the ITS on Pillar 3 disclosures of 28 June 2021, the following standards were repealed:
- Implementing Technical Standards on Disclosure for Own Funds
- Regulatory Technical Standards on disclosure of information related to the countercyclical capital buffer
- Implementing Technical Standards on disclosure for leverage ratio
- Regulatory Technical Standards on the disclosure of encumbered and unencumbered assets
Furthermore, considering the full overlap of the ITS on Pillar 3 disclosures with earlier requirements, the EBA reviewed the status of several disclosure guidelines, as explained in this press release.
The original version of the ITS on Pillar 3 disclosures has been amended By the following ITS:
- Implementing Technical Standards on disclosure of indicators of global systemic importance by G-SIIs
- Implementing Technical Standards on disclosure of information on exposures to interest rate risk on positions not held in the trading book
- Implementing Technical Standards (ITS) on prudential disclosures on ESG risks in accordance with Article 449a CRR
A consolidated text of the ITS was provided by the Commission on 8 January 2023. It is a documentation tool which has no legal effect.