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

    EBA Finalizes Remuneration Standards for Investment Firms in EU

    EBA finalized the two sets of draft regulatory technical standards on the identification of material risk-takers and on the classes of instruments used for remuneration under the Investment Firms Directive (IFD).

    January 21, 2021 WebPage Regulatory News
    News

    ECA Recommends Actions to Enhance Resolution Planning for Banks

    EC published, in the Official Journal of the European Union, a notification that the European Court of Auditors (ECA) has published a special report on resolution planning in the Single Resolution Mechanism.

    January 20, 2021 WebPage Regulatory News
    News

    BoE Publishes Key Elements of the 2021 Stress Testing for Banks in UK

    BoE published a scenario against which it will be stress testing banks in 2021, in addition to setting out the key elements of the 2021 stress test, guidance on the 2021 stress test, and the variable paths for the 2021 stress test.

    January 20, 2021 WebPage Regulatory News
    News

    PRA Proposes Rules on Identity Verification of Depositor Protection

    PRA published a consultation paper (CP3/21) proposes rules regarding the timing of identity verification required for eligibility of depositor protection under the Financial Services Compensation Scheme (FSCS).

    January 20, 2021 WebPage Regulatory News
    News

    FSB Publishes Work Program for 2021

    FSB published the work program for 2021, which reflects a strategic shift in priorities in the COVID-19 environment.

    January 20, 2021 WebPage Regulatory News
    News

    FCA Issues Update on Move to New Data Collection Platform

    FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel.

    January 20, 2021 WebPage Regulatory News
    News

    Bundesbank Publishes Derivation Rules for Reporting by Banks

    Bundesbank published Version 5.0 of the derivation rules for completeness check at the form level, with respect to the data quality of the European harmonized reporting system.

    January 19, 2021 WebPage Regulatory News
    News

    FED Revises Capital Planning and Stress Testing Requirements for Banks

    FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.

    January 19, 2021 WebPage Regulatory News
    News

    ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020

    ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.

    January 19, 2021 WebPage Regulatory News
    News

    ESAs Publish Reporting Templates for Financial Conglomerates

    ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.

    January 18, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6484