EBA added the New York State Department of Financial Services (United States) to the current list of non-EU, third-country supervisory authorities whose confidentiality regime can be regarded as equivalent. This is part of the guideline on equivalence of non-EU authorities for participation in supervisory colleges, which addresses the equivalence of confidentiality and professional secrecy regimes. The guidelines are addressed to competent authorities and will apply from April 16, 2020.
The deadline for competent authorities to report whether they comply with the guidelines will be two months after the publication of the translated guidelines. The guidelines are designed to help EU authorities in their assessment of third country equivalence and to facilitate cooperation with third country supervisory authorities and their participation in supervisory colleges overseeing international banks. EBA assesses confidentiality regimes of third countries with respect to Article 116 (6) of the Capital Requirements Directive.
Keywords: Europe, EU, Banking, Third Country Equivalence, Guidelines, New York State Department of Financial Services, CRD, Supervisory Colleges, EBA
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