EBA published a report on the final draft implementing technical standards on the disclosure of indicators of systemic importance by the global systemically important institutions (G-SIIs). These standards help to identify which banks are globally systemically important and specify the format and instructions in accordance with which G-SIIs disclose the information required under the Capital Requirements Regulation (CRR). CRR requires G‐SIIs to annually disclose the values of the indicators used for determining their score in accordance with the identification methodology.
To facilitate the comparability of information, the implementing technical standards shall seek to maintain consistency of disclosure formats with international standards on disclosures. To this end, the Pillar 3 disclosure, according to Article 441 of the CRR2, is aligned with the BCBS template GSIB1, titled "Disclosure of G‐SIB indicators," included in the BCBS March 2017 Pillar 3 standards (Pillar 3 disclosure requirements). Institutions shall disclose this information in their year-end Pillar 3 report. Institutions shall restate and republish this information in their first Pillar 3 report following the final submission of the indicator values to the relevant authorities, where the submitted figures are different respect to those disclosed in the year-end Pillar 3 report. The G-SII disclosures standards do not include a specific template, but a cross-reference to the format used for the collection of the relevant indicators by relevant authorities, a format that has to be applied by G-SIIs when disclosing the relevant information in their Pillar 3 reports.
The implementing technical standards will amend the final draft implementing technical standards on institutions’ public disclosures with the strategic objective of defining a single, comprehensive Pillar 3 framework under the CRR that should integrate all the relevant Pillar 3 disclosure requirements. This will facilitate institutions’ implementation and enhance clarity for users of such information, as expressed in the EBA Pillar 3 roadmap.
Keywords: Europe, EU, Banking, Implementing Technical Standards, CRR, G-SII, Systemic Risk, Disclosures, Basel, Pillar 3, EBA
Across 35 years in banking, Blake has gained deep insights into the inner working of this sector. Over the last two decades, Blake has been an Operating Committee member, leading teams and executing strategies in Credit and Enterprise Risk as well as Line of Business. His focus over this time has been primarily Commercial/Corporate with particular emphasis on CRE. Blake has spent most of his career with large and mid-size banks. Blake joined Moody’s Analytics in 2021 after leading the transformation of the credit approval and reporting process at a $25 billion bank.
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