EBA Publishes its Annual Report for 2017
EBA published its 2017 Annual Report. The report provides a detailed account the work of EBA in the past year and describes the key areas of focus in the coming years.
Key activities of EBA during 2017 are as follows:
- Finalized important components of the Single Rulebook.
- Welcomed the agreement reached on the Basel III framework BCBS, in December 2017, which concludes the global post-crisis prudential reforms and puts an end to the remaining regulatory uncertainty.
- Continued its work on the enhancement of the comparability of capital requirements with the objective of restoring the overall trust in internal models.
- Contributed to many Capital Markets Union initiatives, which have allowed it to establish itself, over the years, as the leading regulatory body on securitization and covered bonds in the EU.
- Played an important role in cleansing bank balance sheets and reducing non-performing loans (NPLs). In particular, it supported the Council's action plan to address NPLs by developing detailed templates to help establish a proper secondary market for these loans in the EU and guidelines to help manage NPLs more effectively.
- Strengthened its role as EU data hub for the collection, use, and dissemination of banking data by improving transparency and expanding its data infrastructure.
- Continued to enhance the protection of consumers; promote transparency, simplicity, and fairness for consumer financial products and services across the Single Market; monitor financial innovation; and contribute to secure and efficient retail payments in the EU.
As per the report, the key areas of focus for 2018 include the attention areas highlighted by the annual benchmarking exercise, preparation for the full implementation of Basel III, further work on NPLs, 2018 EU-wide stress test, 2018 EU-wide transparency exercise, work in the area of third-country equivalence, a follow-up report assessing the responses received and setting out the roadmap for EBA’s fintech work in 2018 and 2019, and implementing new rules on payment services. In 2018, EBA expects to publish guidelines on management of nonperforming and forborne exposures; develop guidelines on bank loan origination, monitoring and internal governance; implement guidelines on enhanced disclosure requirements on asset quality and NPLs to all banks; develop technical standards on IRRBB (work expected to start in 2018 and to finish in 2019); development of SREP guidelines on proportionality; and focus on guidelines on the management of ICT risk for institutions.
Related Links
Keywords: Europe, EU, Banking, Annual Report, NPLs, Proportionality, IRRBB, 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
APRA Standards to Strengthen Role of Appointed Actuary for InsurersRelated 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.
