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May 07, 2018

EBA welcomed the call for advice by EC on the implementation of Basel III framework, which BCBS had finalized in December 2017. EC issued the call for advice to EBA for revising the own fund requirements for credit, operational, market, and credit valuation adjustment risk. In its call, EC asked EBA to prepare a comprehensive analysis to assess the potential impact of the different elements of the Basel reform on the EU banking sector and the wider economy.

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. 

 

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

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