EBA Welcomes the EC Call for Advice on Basel III Implementation in EU

In response to the call for advice, EBA will provide a quantitative and qualitative assessment of the new Basel III framework. EBA is planning to launch, by July, an overall data collection exercise, for which it will provide more details in the coming months. The evidence collected from this exercise will form the basis for the EBA policy recommendations. In this exercise, EBA also plans to include smaller and less complex banks, along with certain institutions with specific business models. A broad representation of the EU banking sector will be crucial to ensure an assessment of the impact on both large and small EU banks. Broad representation is considered to be a prerequisite for an evidence-based and proportionate policy making. The EBA Chairperson Andrea Enria, stated that EBA is "... looking forward to supporting the EC to ensure an effective and proportionate implementation of the new framework in EU." EBA aims to engage with national authorities, the industry, and European co-legislators to ensure a successful implementation of the finalized Basel III standards in EU. 

Related Links

• Press Release
• Call for Advice

Keywords: Europe, EU, Banking, Basel III, Impact Assessment, Basel III Finalization, Proportionality, EC, EBA