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

    EU Amends CRD4 and CRD5 as Part of Capital Markets Recovery Package

    EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.

    February 26, 2021 WebPage Regulatory News
    News

    EU Committee Recommends Systemic Risk Buffer of 4.5% in Norway

    The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.

    February 25, 2021 WebPage Regulatory News
    News

    PRA Clarifies Approach to Onshoring of Credit Risk Rules for UK Banks

    In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.

    February 25, 2021 WebPage Regulatory News
    News

    FSB Sets Out Work Priorities for 2021

    In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.

    February 25, 2021 WebPage Regulatory News
    News

    EU Publishes Corrigendum to Revised Capital Requirements Regulation

    EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).

    February 25, 2021 WebPage Regulatory News
    News

    ESAs Issue Statement on Application of Sustainability Disclosures Rule

    ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).

    February 25, 2021 WebPage Regulatory News
    News

    EC Consults on Crisis Management and Deposit Insurance Frameworks

    EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.

    February 25, 2021 WebPage Regulatory News
    News

    HKMA Enhances Loan Guarantee Scheme to Alleviate Pressure on SMEs

    HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.

    February 24, 2021 WebPage Regulatory News
    News

    EBA Proposes Standards for Supervisory Cooperation Under IFD

    EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.

    February 24, 2021 WebPage Regulatory News
    News

    BoE Addresses Banks in Scope of First Resolvability Assessment

    BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.

    February 24, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6629