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October 23, 2018

EBA published its detailed work program for 2019. The work program describes the specific activities and tasks of EBA for the coming year and highlights the key strategic areas of work from 2019 to 2021.

The policy work, in 2019, will be focused on further efforts in implementing the proportionality principle, strengthening supervisory convergence and integrity of the Single Rulebook, enhancing consumer protection, and preparing for the withdrawal of the UK from EU. The following will be the strategic areas of focus:

  • Leading the Basel III implementation in EU
  • Understanding risks and opportunities arising from financial innovation
  • Collecting, disseminating, and analyzing banking data
  • Ensuring a smooth relocation of EBA to Paris
  • Fostering the increase of the loss-absorbing capacity of the EU banking system

With regard to leading the Basel III implementation, the development of the Single Rulebook and its effective and consistent application will remain the core business of EBA during 2019. EBA is still likely to have a significant amount of regulatory mandates in the coming three years, following the endorsement of the CRDV-CRR2-BRRD2 package and the preparation of the implementation of the Basel III framework. Additionally, to improve the loss-absorbing capacity of the EU banking system, EBA will ensure that minimum requirement for own funds and eligible liabilities (MREL) decisions taken by resolution authorities are supported by credible and consistent resolution-planning work and by clarity on the expected composition and quality of MREL, in terms of both subordination and, if applicable, other eligibility criteria and potential exclusions.

 

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Keywords: Europe, EU, Banking, Work Program, Proportionality, Single Rulebook, Supervisory Convergence, Brexit, CRDV-CRR2-BRRD2 Package, Basel III, EBA

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