EBA Publishes Standards on Disclosure of Systemic Risk Indicators
EBA published a report on the final draft implementing technical standards on the disclosure of indicators of systemic importance by the global systemically important institutions (G-SIIs). These standards help to identify which banks are globally systemically important and specify the format and instructions in accordance with which G-SIIs disclose the information required under the Capital Requirements Regulation (CRR). CRR requires G‐SIIs to annually disclose the values of the indicators used for determining their score in accordance with the identification methodology.
To facilitate the comparability of information, the implementing technical standards shall seek to maintain consistency of disclosure formats with international standards on disclosures. To this end, the Pillar 3 disclosure, according to Article 441 of the CRR2, is aligned with the BCBS template GSIB1, titled "Disclosure of G‐SIB indicators," included in the BCBS March 2017 Pillar 3 standards (Pillar 3 disclosure requirements). Institutions shall disclose this information in their year-end Pillar 3 report. Institutions shall restate and republish this information in their first Pillar 3 report following the final submission of the indicator values to the relevant authorities, where the submitted figures are different respect to those disclosed in the year-end Pillar 3 report. The G-SII disclosures standards do not include a specific template, but a cross-reference to the format used for the collection of the relevant indicators by relevant authorities, a format that has to be applied by G-SIIs when disclosing the relevant information in their Pillar 3 reports.
The implementing technical standards will amend the final draft implementing technical standards on institutions’ public disclosures with the strategic objective of defining a single, comprehensive Pillar 3 framework under the CRR that should integrate all the relevant Pillar 3 disclosure requirements. This will facilitate institutions’ implementation and enhance clarity for users of such information, as expressed in the EBA Pillar 3 roadmap.
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Keywords: Europe, EU, Banking, Implementing Technical Standards, CRR, G-SII, Systemic Risk, Disclosures, Basel, Pillar 3, EBA
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