EBA Publishes Detailed Work Program for 2019
EBA published its detailed work program for 2019. The work program describes the specific activities and tasks of EBA for the coming year and highlights the key strategic areas of work from 2019 to 2021.
The policy work, in 2019, will be focused on further efforts in implementing the proportionality principle, strengthening supervisory convergence and integrity of the Single Rulebook, enhancing consumer protection, and preparing for the withdrawal of the UK from EU. The following will be the strategic areas of focus:
- Leading the Basel III implementation in EU
- Understanding risks and opportunities arising from financial innovation
- Collecting, disseminating, and analyzing banking data
- Ensuring a smooth relocation of EBA to Paris
- Fostering the increase of the loss-absorbing capacity of the EU banking system
With regard to leading the Basel III implementation, the development of the Single Rulebook and its effective and consistent application will remain the core business of EBA during 2019. EBA is still likely to have a significant amount of regulatory mandates in the coming three years, following the endorsement of the CRDV-CRR2-BRRD2 package and the preparation of the implementation of the Basel III framework. Additionally, to improve the loss-absorbing capacity of the EU banking system, EBA will ensure that minimum requirement for own funds and eligible liabilities (MREL) decisions taken by resolution authorities are supported by credible and consistent resolution-planning work and by clarity on the expected composition and quality of MREL, in terms of both subordination and, if applicable, other eligibility criteria and potential exclusions.
Related Links
Keywords: Europe, EU, Banking, Work Program, Proportionality, Single Rulebook, Supervisory Convergence, Brexit, CRDV-CRR2-BRRD2 Package, Basel III, EBA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
FSB Publishes Reports on Implementation of OTC Derivatives ReformsRelated Articles
APRA Issues Interim Update to Policy Priorities for 2021 and Beyond
In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.
EC Adopts Solvency II and Resolution Rules Package for Insurers
The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.
OCC Issues Booklets on Regulatory Reporting and Earnings
The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.
ECB Sets Out Results of Economy-Wide Climate Stress Tests
The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.
EBA Examines Implications of Increasing Use of Digital Platforms in EU
The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.
HKMA Issues Updates on Policy Measures Intended to Ease COVID Impact
The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.
ISDA Responds to BCBS Proposal on Treatment of Cryptoasset Exposures
The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.
BIS Quarterly Review Discusses Developments in Fintech and ESG Space
BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.
BCBS to Consult on Supervisory Practices for Climate Risks by Year-End
The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards
OCC Identifies Operational Risk Deficiencies in MUFG Union Bank
The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.
