EBA issues updated Guidelines on equivalence of non-EU authorities for participation in supervisory colleges

15 April 2020

The European Banking Authority (EBA) updated today its Guidelines on the equivalence of confidentiality and professional secrecy regimes by adding the New York State Department of Financial Services (United States) to the current list of non-EU (third country) supervisory authorities whose confidentiality regimes can be regarded as equivalent. The EBA Guidelines are designed to help EU authorities in their assessment of third country equivalence and to facilitate cooperation with third country supervisory authorities and their participation in supervisory colleges overseeing international banks.

Legal basis

These Guidelines have been drafted in accordance with Article 21(3) of the EBA Founding Regulation, which mandates the Authority to issue guidelines and recommendations to promote convergence in supervisory functioning and best practices adopted by the colleges of supervisors. In addition, Article 33 of the EBA Regulation states that the EBA shall provide assistance on equivalence issues. 

In line with the review of the EBA Founding Regulation, as applicable of 1 January 2020, the amending Recommendations on equivalence of non-EU authorities have been replaced by the relevant Guidelines.
 

 

Press contacts

Franca Rosa Congiu

press@eba.europa.eu | +33 1 86 52 7052 | Follow @EBA_News