Andrea Enria, EBA's chairperson, has discussed in a speech the new role of EBA in the context of the Banking Union. He noted that of 43 large EU cross-border banking groups only five have business exclusively within the euro area, and therefore EBA will have to ensure that the ECB and other competent supervisory authorities develop common supervisory methodologies and cooperate in colleges. He also discussed:
- the need for prudential definitions that are exactly the same throughout the EU, as opposed to what is currently happening with regards to the calculation of Basel 1 floors or the requests for national flexibility in the implementation of the bail-in tool. He called for formal recognition of EBA's role as "guardian of the Single Rulebook";
- comparability of data, which will be achieved through the technical standards on supervisory reporting;
- the new mandate on EBA to develop a Single Supervisory Handbook. EBA has started work on Business Model Analysis and consistency of Risk Weighted Assets (RWAs) calculations;
- his disappointment over the fact that the Recovery and Resolution Directive does not make it mandatory to reach a joint decision on the resolution plans for cross-border groups; and
- EBA's intensified efforts on responsible lending, complaints handling, product oversight and governance, structured finance products and sales to retail customers.
(Source: The Role of EBA in the Banking Union)