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

    FSB Sets Out Effective Practices for Cyber Incident Recovery

    FSB finalized the toolkit of effective practices to assist financial institutions in their cyber incident response and recovery activities.

    October 19, 2020 WebPage Regulatory News
    News

    HKMA Urges Early Action for Adherence to IBOR Fallbacks Protocol

    HKMA urged authorized institutions to take early action to adhere to the IBOR Fallbacks Protocol, which ISDA is expected to publish soon.

    October 16, 2020 WebPage Regulatory News
    News

    FSB Sets Out Roadmap for Transition to Alternative Reference Rates

    FSB published a global transition roadmap for London Inter-bank Offered Rate (LIBOR).

    October 16, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Response to Proposal on BRRD2 Transposition

    HM Treasury published a document that summarizes the responses received from a consultation on the approach of UK to transposition of the revised Bank Resolution and Recovery Directive (BRRD2).

    October 15, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Response to Proposal on CRD5 Transposition

    HM Treasury published the government response to the feedback received on the consultation for updating the prudential regime of UK before the end of the Brexit transition period.

    October 15, 2020 WebPage Regulatory News
    News

    BoE Publishes Reporting Schedule for Statistical Returns

    In a recent statistical notice, BoE announced publication of the reporting schedule for statistical returns for 2021.

    October 15, 2020 WebPage Regulatory News
    News

    EC Welcomes Declaration by Member States on EU Cloud Federation

    EC welcomed the joint declaration by 25 EU member states on building the next generation of cloud in Europe.

    October 15, 2020 WebPage Regulatory News
    News

    MAS Amends Notice on Issuance of Covered Bonds by Banks in Singapore

    MAS published amendments to Notice 648 on the issuance of covered bonds by banks incorporated in Singapore.

    October 15, 2020 WebPage Regulatory News
    News

    FDIC Selects Technology Companies for Rapid Prototyping Competition

    FDIC has selected 14 technology companies—including Accenture Federal Services, LLC, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the next phase of the rapid prototyping competition.

    October 15, 2020 WebPage Regulatory News
    News

    GLEIF Defines New Validation Agent Role for Financial Institutions

    GLEIF announced that financial institutions worldwide can realize a variety of cost, efficiency, and customer experience benefits by assuming a new “validation agent” role within the Global Legal Entity Identifier (LEI) System.

    October 15, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5980