The European Banking Authority (EBA) updated today all the information disclosed by EU Competent Authorities according to its Implementing Technical Standards (ITS) on supervisory disclosure, which were published in the EU Official Journal on 4 June 2014. This information, published in an aggregated format, provides an overview of the implementation and transposition of the Capital Requirements Directive (CRD IV) and Capital Requirements Regulation (CRR) across the EU. It also provides a detailed picture of the use of options and national discretions by each Competent Authority as well as information on the general criteria and methodologies used for the purpose of the supervisory review and evaluation process (SREP). Through such disclosure, the EBA remains committed to providing meaningful comparisons across the EU and to promoting supervisory convergence.
The information disclosed on the implementation and transposition of the CRD IV package covers all EU jurisdictions and includes for the first time information provided by European Central Bank (Single Supervisory Mechanism – SSM). In this respect, the ECB provides information related to the supervision of significant credit institutions within the SSM while National Competent Authorities (NCAs) of SSM participating Member States disclose information for less significant credit institutions.
Legal basis and next steps
With a view of providing meaningful comparisons, Article 143(1) of the CRD IV requires Competent Authorities to publish information on the texts of laws, regulations, administrative rules and general guidance adopted in their Member State in the field of prudential regulation, on the manner of exercise of the options and discretions available in Union law, on the general criteria and methodologies used for the purpose of the supervisory review and evaluation process (SREP) and finally aggregate statistical data on key aspects of the prudential framework in each Member State.
The EBA is currently consulting to amend its ITS on Supervisory Disclosure.