Featured Product

    EBA to Amend Implementing Standards for Resolution Plan Reporting

    August 03, 2021

    The European Banking Authority (EBA) is amending the implementing technical standards on provision of information for the purpose of resolution plans (Implementing Regulation 2018/1624) in the context of the revised Bank Recovery and Resolution Directive (BRRD2 for Directive 2019/879). Thus, EBA published a report on the draft amendments to the standards, along with the associated templates and instructions. The draft implementing technical standards will be submitted to the European Commission for endorsement before being published in the Official Journal of the European Union. The amended implementing standards are envisaged to apply for the first time with the reference date of December 31, 2021.

    The amendments aim to re-align the implementing technical standards with the provisions of the BRRD. The amendments follow changes to the minimum requirement for own funds and eligible liabilities (MREL) introduced in the revised BRRD2 as well as to remove some identified obstacles that hamper compliance with the requirements specified in the standards. The following key amendments are being introduced:

    • Regarding liabilities excluded from bail in, as shown in template Z 02.00, the row on system operator liabilities (Article 44(2), point (f) BRRD) was modified and a new row on liabilities with other entities of the resolution group (Article 44(2), point (h) BRRD) was added.
    • Given that MREL is expressed, and compliance with the requirement is assessed, among others, in relation to the Total Exposure Measure of the leverage ratio, a new row capturing the reporting entities’ total exposure measure was added to template Z 03.00.
    • Templates Z 02.00 and Z 04.00 include one item each capturing liabilities eligible for MREL.
    • The instructions were updated to point to the new Article 45 BRRD and the relevant articles laying down the conditions for eligibility (incl. Article 55 BRRD).
    • These amending implementing technical standards also clarify or amend the provisions on the unique keys for reporting information in the open axis templates Z 08.00 to Z 10.02. The amendments are a result of the practical experience gathered from reporting since end-2018 and aim to remove some identified obstacles at the technical level that hamper compliance with the requirements specified in these implementing standards. 
    • The amending implementing technical standards include minor corrections to references as well as an updated list of Deposit Guarantee Schemes (Z 06.00).

    EBA plans to undertake a comprehensive review of these implementing technical standards that will consider the practical experience with reporting, changed user needs, and the existence of the implementing technical standards on disclosures and reporting in MREL and total loss-absorbing capacity (TLAC) during the course of 2021, with a potential application of the overhauled reporting from December 31, 2022 (reference date). A consultation on the proposals of the comprehensive review will take place later this year


    Related Links

    Keywords: Europe, EU, Banking, Reporting, Resolution Framework, Resolution Planning, Implementing Technical Standards, BRRD, MREL, TLAC, Templates, Instructions, EBA

    Featured Experts
    Related Articles

    UK Authorities Consult on Implementation of Basel 3.1 Standards

    The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.

    November 30, 2022 WebPage Regulatory News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8597