Featured Product

    EBA Launches Consultation on Comprehensive Pillar 3 Disclosures

    October 16, 2019

    EBA proposed the new comprehensive implementing technical standard (ITS) for public disclosures by financial institutions. The implementing standard will implement regulatory changes introduced by the revised Capital Requirements Regulation (CRR2 or EU No 2019/876) and aligns the EU disclosure framework with international standards. The deadline for submission of comments is January 16, 2020. EBA expects to submit the revised draft technical standard to EC in June 2020. The application of the disclosure requirements will be in June 2021.

    This ambitious proposal seeks to optimize the EBA Pillar 3 policy framework by moving from a silo-based approach, with different disclosure policy products, to an all-inclusive technical standard. This consultation paper is the first one of the deliverables that will be presented in a forthcoming EBA roadmap on the Pillar 3 disclosures of institutions. The roadmap, which will be published in the fourth quarter of 2019, provides an overview of the EBA Pillar 3 strategy, deliverables, and timeline for the implementation of disclosure requirements included in the CRR2/BRRD2, including the environmental, social, and governance (ESG) risks and climate-change-related information as well as the disclosure requirements for investment firms. 

    CRR2 introduced new disclosure requirements for institutions and a mandate for EBA to implement them in a way that conveys sufficiently comprehensive and comparable information for market participants to assess the risk profiles of institutions (Article 434a of the CRR2). The new technical standard aims to implement the CRR2 regulatory changes in alignment with the revised Basel Pillar 3 standards. The all-inclusive technical standard provides a complete Pillar 3 disclosure framework and has been developed to foster consistency with supervisory reporting. A mapping between quantitative disclosure data and reporting is provided to facilitate compliance by institutions.

     

    Related Links

    Comment Due Date: January 16, 2020

    Keywords: Europe, EU, Banking, Pillar 3, Disclosures, Implementing Technical Standards, Reporting, CRR2, Basel III, BRRD2, EBA

    Featured Experts
    Related Articles
    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
    News

    EBA Publishes Report on Asset Encumbrance of Banks in EU

    EBA published the annual report on asset encumbrance of banks in EU.

    January 18, 2021 WebPage Regulatory News
    News

    MAS Revises Guidelines on Technology Risk Management

    MAS revised the guidelines that address technology and cyber risks of financial institutions, in an environment of growing use of cloud technologies, application programming interfaces, and rapid software development.

    January 18, 2021 WebPage Regulatory News
    News

    US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C

    FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.

    January 15, 2021 WebPage Regulatory News
    News

    EBA Proposes Guidelines for Establishing Intermediate Parent Entities

    EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.

    January 15, 2021 WebPage Regulatory News
    News

    EC Adopts Financial Reporting Changes Arising from Benchmark Reforms

    EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.

    January 14, 2021 WebPage Regulatory News
    News

    BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk

    BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.

    January 14, 2021 WebPage Regulatory News
    News

    HMT Updates List of Post-Brexit Equivalence Decisions in UK

    HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.

    January 14, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6462