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July 14, 2017

EBA published its final draft regulatory technical standards on the information applicants shall provide to competent authorities when applying for authorization as credit institutions. It also published the final draft implementing technical standards on the templates to be used for the provision of such information. EBA encourages EC to adopt these technical standards at the earliest possible opportunity. These standards will support the consistent, efficient, and rigorous assessment of the applications for authorization to be submitted by entities seeking to relocate in the context of the UK's withdrawal from the EU.

The draft regulatory technical standards have been developed in accordance with Article 8(2) of the Capital Requirements Directive (CRD), which mandates the EBA to specify the information to be provided to competent authorities in the application for the authorization of credit institutions. The regulatory technical standards seek to strike a balance between required considerations and the need to ensure that the objective of defining a unified set of information requirements should not be jeopardized.

 

The draft implementing technical standards were developed according to Article 8(3) of the CRD, which mandates the EBA to produce standard forms, templates, and procedures for the provision of such information. The implementing technical standards seek to set out a clear framework for submitting the application for authorization, including its completeness and its accuracy.

 

Related Link: Technical Standards on Authorization of Credit Institutions (PDF)

Keywords: Europe, Banking, EBA, Implementing Technical Standards, Regulatory Technical Standards, CRD

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