EBA publishes draft BRRD RTS and Guidelines: EBA has published its RTS on the content of resolution plans and the assessment of resolvability (as required by the Bank Recovery and Resolution Directive (BRRD)). It has also released Guidelines on measures to reduce or remove impediments to resolvability. The draft RTS set out eight categories of information that must be included in a resolution plan and propose a staged approach to the assessment of resolvability. The Guidelines specify further details of the measures that resolution authorities may take to remove impediments to the resolution of an institution set out in Article 17(5) BRRD. (Source: EBA Publishes Draft BRRD RTS and Guidelines)

EBA consults on notifications and notice of suspension under BRRD: EBA is consulting on draft RTS under the BRRD on notifications and notice of suspension arising from a determination that a firm is failing or likely to fail. Consultation closes on 20 March 2015. (Source: RTS on Notifications and Notice of Suspension Consultation Paper)

EBA releases risk assessment report on EU banks: EBA has published its sixth annual report on risks and vulnerabilities in the EU banking sector. The report highlights that throughout 2014 European banks took advantage of favourable market conditions to raise capital ahead of the asset quality review and 2014 EU-wide stress test. However, the report also cautions that signs of recovery are tentative and that continued high debt levels, conduct-related issues and profitability remain causes for concern. (Source: Risk Assessment of the European Banking System

EBA issues internet payment security Guidelines: EBA has published its final Guidelines on the security of internet payments. These set out the minimum security requirements that Payment Service Providers (PSPs) will be expected to meet from 1 August 2015. The Guidelines set out requirements in three main areas:

  • establishing and maintaining a secure environment for internet payments;
  • implementing effective measures to validate a customer's identity and protect their secure data; and
  • communication with customers to educate them and increase their awareness of issues of internet payments security.

EBA expects competent authorities to incorporate these Guidelines into their supervisory practices. (Source: EBA Internet Payments Security Guidelines)

EBA updates single rulebook Q&A: EBA has updated its single rulebook Q&A to include one new question. (Source: Single Rulebook Q&A)

EBA amends CET1 capital instruments list: EBA has updated the list of Common Equity Tier 1 (CET1) instruments. It has added instruments it has assessed as compliant with the CRR and also deleted two instruments. (Source: EBA Updates CET 1 Instrument List)

EBA publishes data waiver RTS: EBA has published draft RTS on the conditions for granting permission for institutions to use relevant data covering a shorter time series than the standard when estimating risk parameters. Institutions can use data covering only two years rather than the standard five years, if the regulator agrees. EBA proposes certain exclusions and limits to the application of the waiver and says it should apply only to new waivers. (Source: EBA Publishes Data Waiver RTS)

EBA publishes CCB RTS: EBA has published its RTS setting out what information institutions must disclose in relation to their requirements for a countercyclical capital buffer (CCB). It has provided templates the firms must use. The RTS requirements apply from the earlier of six months following the date they are published in the OJEU and 1 January 2016. (Source: EBA Publishes CCB RTS)

EBA publishes disclosure Guidelines: EBA has published three sets of final Guidelines related to the information that institutions in the EU banking sector should disclose under Pillar 3. The Guidelines cover how institutions should apply the concepts of materiality, proprietary nature and confidentiality in relation to the disclosure requirements, and how they should assess the frequency of disclosures. The Guidelines will be translated, and will apply from six months after publication of the translations. (Source:EBA Publishes Disclosure Guidelines)

EBA publishes colleges guidance: EBA has published its final draft RTS and ITS on:

  • the conditions for the establishment and functioning of colleges of supervisors; and
  • how colleges' supervisory activities should be planned and performed in both going concern and emergency situations.

(Source: EBA Publishes Colleges Guidance)

EBA publishes final SREP Guidelines: EBA has published its final Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP). The Guidelines will apply from 1 January 2016. (Source: EBA Publishes Final SREP Guidelines)

EBA publishes securitisation report: EBA has published and submitted to the Commission an Opinion on how to improve how the securitisation market works. EBA recommends better transparency and legal certainty of compliance with the retention rules. It is pleased at how regulators apply current requirements and recommends some additional safeguards. Its main suggestion is to introduce a direct approach which places the onus on the originator, sponsor or original lender alongside the current indirect approach (where the onus is on the investors). It also proposes a clarification to the definition of "originator" to prevent abuse of the rules. (Source: EBA Publishes Securitisation Report)