EBA Technical Standards on Authorization of Credit Institutions
EBA published its final draft regulatory technical standards on the information applicants shall provide to competent authorities when applying for authorization as credit institutions. It also published the final draft implementing technical standards on the templates to be used for the provision of such information. EBA encourages EC to adopt these technical standards at the earliest possible opportunity. These standards will support the consistent, efficient, and rigorous assessment of the applications for authorization to be submitted by entities seeking to relocate in the context of the UK's withdrawal from the EU.
The draft regulatory technical standards have been developed in accordance with Article 8(2) of the Capital Requirements Directive (CRD), which mandates the EBA to specify the information to be provided to competent authorities in the application for the authorization of credit institutions. The regulatory technical standards seek to strike a balance between required considerations and the need to ensure that the objective of defining a unified set of information requirements should not be jeopardized.
The draft implementing technical standards were developed according to Article 8(3) of the CRD, which mandates the EBA to produce standard forms, templates, and procedures for the provision of such information. The implementing technical standards seek to set out a clear framework for submitting the application for authorization, including its completeness and its accuracy.
Related Link: Technical Standards on Authorization of Credit Institutions (PDF)
Keywords: Europe, Banking, EBA, Implementing Technical Standards, Regulatory Technical Standards, CRD
Previous Article
ESMA Updates Q&A on Implementation of MiFID IIRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
