March 14, 2019

EBA published annual report on the convergence of supervisory practices in EU. The report summarizes EBA observations on the current state of convergence of supervisory practices and highlights the activities that EBA carried out in 2018 to promote this convergence, in accordance with the mandates set out in its Founding Regulation and in the Capital Requirements Directive (CRD). The report also covers the EBA assessment of convergence in the supervisory review and evaluation process (SREP) as well as the supervisory convergence in the continuum between ongoing supervision, recovery, and resolution.

Overall, the report highlights good progress of competent authorities in the implementation of the 2014 SREP guidelines and in taking forward the recommendations and observations of EBA during the 2016 and 2017 bilateral convergence visits. The report further observes that the continuum between ongoing supervision and recovery and resolution is progressively benefiting from the implementation of internal procedures, which take into account the Single Rulebook and contribute to ensuring the convergence of supervisory practices. However, the report also points out a number of remaining challenges, including converging capital adequacy assessments and determining institution-specific additional own funds requirements. Further improvements are still needed on the key aspects, particularly to ensure that all the institutions, which do not benefit from a waiver, have developed a recovery plan.

EBA aims to foster comparable supervisory approaches across the single market to ensure a level playing field, effective supervision of cross-border groups, and promote supervisory best practices. Moreover, development of the Single Rulebook dedicated to supervisory activities as well as the monitoring of its effective and consistent application will remain the core business of EBA in the coming years. EBA will also further expand its training program for authorities assisting in the implementation of the regulatory and policy products. 

 

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Keywords: Europe, EU, Banking, Supervisory Practices, CRD, SREP, Single Rulebook, Capital Adequacy, BRRD, EBA

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