Featured Product

    EBA Publishes Work Program for 2020

    October 10, 2019

    EBA published its detailed annual work program for 2020. The work program comprises the annual and multi-annual work programs of EBA. It describes the planned activities and tasks for the coming year and highlights the key strategic work areas for 2020. The EBA work for 2020 is defined under six strategic areas and 37 activities.

    The two horizontal priorities for policy work, as described in the work program, involve ensuring effective cooperation with third countries and improving a culture of good governance in financial institutions. The following are the six strategic focus areas of the work program:

    • Support development of risk reduction package and implementation of the global standards in EU. EBA will work to deliver the Level 2 regulations necessary for implementation of the new Capital Requirements Directive (CRD), the Capital Requirement Regulation (CRR), and the Bank Recovery and Resolution (BRRD), along with the introduction of the Investment Firm Directive (IFD)/Investment Firm Regulation (IFR) regime and the Covered Bonds Directive. EBA will work with EC, and later with the co-legislators, to support the implementation of Basel III standards in EU.
    • Provide efficient methodologies and tools for supervisory convergence and stress testing. EBA will start consulting on Pillar 2 revisions, improved incorporation of proportionality, coherence with Pillar 1, and the levels of application policies on capital and liquidity. EBA will continue monitoring own funds and liquidity provisions, with a focus on capital and liability instruments, the termination of grandfathering of own funds instruments, and the use of discretions in the area of liquidity transactions for computation of the liquidity coverage ratio. EBA will also conduct an EU-wide stress test.
    • Move toward an integrated EU data hub and a streamlined reporting framework. EBA aims to complete the last phase of the EUCLID project, which will focus on upgrade of the EBA supervisory data platform, which supports data collection, data validation, data integration, and report monitoring. The culmination of this work will establish EBA as an EU-wide data hub at the service of competent authorities and the public. EBA will also work on a feasibility study on an integrated EU reporting framework.
    • Contribute to the sound development of financial innovation and sustainability. EBA publish a discussion paper on the incorporation of ESG into risk management and supervision. It will also undertake preparatory work on the classification and prudential treatment of assets from a sustainability perspective.
    • Promote an operational framework for resolution. When it comes to the new BRRD, EBA will deliver on its mandates, starting with expediting the ones that are essential to the operationalization of the resolution framework such as on the minimum requirement for own funds and eligible liabilities (MREL). EBA will also focus on some practical aspects that appear necessary for the execution of resolution decisions, with a focus on bail-in.
    • Making anti money laundering (AML) a real priority for EU. EBA, in cooperation with the other ESAs, will strengthen its role in the area of AML/Countering Financing of Terrorism (CFT) supervision by national authorities, following the EBA communication on the AML action plan.


    Related Links

    Keywords: Europe, EU, Banking, Stress Testing, Work Program 2020, Reporting, Basel III, CRR/CRD, BRRD, Resolution Framework, EBA

    Featured Experts
    Related Articles
    News

    BoE Clarifies Approach to Treatment of Payment Holidays on Form PL

    BoE published a statistical notice (Notice 2020/9) explaining the approach for treatment of payment holidays on the profit and loss return or Form PL.

    August 11, 2020 WebPage Regulatory News
    News

    BoE Provides Reporting Update on Form AS and Form FV

    BoE updated the known issues document for the statistical reporting Forms AS and FV.

    August 10, 2020 WebPage Regulatory News
    News

    FED Announces Capital Requirements for Large Banks

    FED announced individual capital requirements for 34 large banks and these requirements go into effect on October 01, 2020.

    August 10, 2020 WebPage Regulatory News
    News

    SRB Publishes Guidance on Implementation of Bail-In Tool

    SRB published a set of documents to give operational guidance to banks on implementation of the bail-in tool.

    August 10, 2020 WebPage Regulatory News
    News

    BIS Publishes Update on G20 TechSprint Initiative

    BIS published an update on the G20 TechSprint Initiative, which was launched in April 2020 and aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.

    August 10, 2020 WebPage Regulatory News
    News

    OSFI Provides Update on Implementation of IFRS 17 in Canada

    OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.

    August 07, 2020 WebPage Regulatory News
    News

    EBA Provides Clarity on Implementation of Guidance on COVID Reporting

    EBA updated the report on the implementation of selected COVID-19 policies.

    August 07, 2020 WebPage Regulatory News
    News

    FSI Note Discusses Challenges Associated with COVID Relief Measures

    The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.

    August 06, 2020 WebPage Regulatory News
    News

    BCBS Consults on Principles for Operational Risk and Resilience

    BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.

    August 06, 2020 WebPage Regulatory News
    News

    BoE Updates Template and Definitions for Form ER

    BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.

    August 05, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5650