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. 

 

Related Links 

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

Related Articles
News

FCA Publishes Its Business Plan for the Coming Year

FCA published its Business Plan, which sets out the main areas of focus and priorities for 2019/20.

May 17, 2019 WebPage Regulatory News
News

IASB Issues Work Plan and Meeting Updates for May 2019

IASB published an updated work plan, along with the update of its meeting in May 2019.

May 17, 2019 WebPage Regulatory News
News

CFTC Proposes to Amend Derivatives Clearing Organization Regulations

CFTC proposed amendments to certain regulations applicable to registered derivatives clearing organizations (DCOs) under Part 30 of the CFTC regulations.

May 16, 2019 WebPage Regulatory News
News

APRA Licenses Societe Generale As Foreign Deposit-Taking Institution

APRA granted Societe Generale a license to operate as a foreign authorized deposit-taking institution under the Banking Act of 1959.

May 16, 2019 WebPage Regulatory News
News

EBA Provides Updates on Its Work on Basel III Impact Assessment in EU

EBA is working to finalize the impact assessment on implementation of Basel III standards, in response to the EC call for advice, which was received on May 04, 2018.

May 16, 2019 WebPage Regulatory News
News

ISDA Publishes Two Consultations on Benchmark Fallbacks

ISDA published two consultations on benchmark fallbacks, the comment periods for which expire on July 12, 2019.

May 16, 2019 WebPage Regulatory News
News

Sam Woods of PRA Speaks About Style of Regulation in UK After Brexit

Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer of PRA, spoke at the UBS Financial Institutions Conference in Lausanne.

May 16, 2019 WebPage Regulatory News
News

FED Publishes Report Summarizing Regulatory and Supervisory Activities

FED published a report that summarizes banking conditions and the supervisory and regulatory activities of FED, in conjunction with semiannual testimony before Congress by the Vice Chairman for Supervision.

May 15, 2019 WebPage Regulatory News
News

US Agencies Propose to Amend Regulatory Framework for Foreign Banks

US Agencies (OCC, FED, and FDIC) proposed a regulatory framework for foreign banks operating in the U.S. that would more closely match the rules for foreign banks with the risks they pose to the U.S. financial system.

May 15, 2019 WebPage Regulatory News
News

ECB Consults on EONIA to €STR Legal Action Plan

ECB published a consultation, which was launched by the working group on euro risk-free rates, on recommendations to address the legal implications for new and legacy contracts referencing the euro overnight index average (EONIA), as a result of the proposed transition from EONIA to the euro short-term rate (€STR).

May 15, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3089