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June 18, 2018

EBA published its 2017 Annual Report. The report provides a detailed account the work of EBA in the past year and describes the key areas of focus in the coming years.

Key activities of EBA during 2017 are as follows:

  • Finalized important components of the Single Rulebook.
  • Welcomed the agreement reached on the Basel III framework BCBS, in December 2017, which concludes the global post-crisis prudential reforms and puts an end to the remaining regulatory uncertainty.
  • Continued its work on the enhancement of the comparability of capital requirements with the objective of restoring the overall trust in internal models. 
  • Contributed to many Capital Markets Union initiatives, which have allowed it to establish itself, over the years, as the leading regulatory body on securitization and covered bonds in the EU.
  • Played an important role in cleansing bank balance sheets and reducing non-performing loans (NPLs). In particular, it supported the Council's action plan to address NPLs by developing detailed templates to help establish a proper secondary market for these loans in the EU and guidelines to help manage NPLs more effectively.  
  • Strengthened its role as EU data hub for the collection, use, and dissemination of banking data by improving transparency and expanding its data infrastructure.
  • Continued to enhance the protection of consumers; promote transparency, simplicity, and fairness for consumer financial products and services across the Single Market; monitor financial innovation; and contribute to secure and efficient retail payments in the EU.

As per the report, the key areas of focus for 2018 include the attention areas highlighted by the annual benchmarking exercise, preparation for the full implementation of Basel III, further work on NPLs, 2018 EU-wide stress test, 2018 EU-wide transparency exercise, work in the area of third-country equivalence, a follow-up report assessing the responses received and setting out the roadmap for EBA’s fintech work in 2018 and 2019, and implementing new rules on payment services. In 2018, EBA expects to publish guidelines on management of nonperforming and forborne exposures; develop guidelines on bank loan origination, monitoring and internal governance; implement guidelines on enhanced disclosure requirements on asset quality and NPLs to all banks; develop technical standards on IRRBB (work expected to start in 2018 and to finish in 2019); development of SREP guidelines on proportionality; and focus on guidelines on the management of ICT risk for institutions.

 

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Keywords: Europe, EU, Banking, Annual Report, NPLs, Proportionality, IRRBB, Basel III, EBA

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