06 August 2019
The European Banking Authority (EBA) published today an overview of the findings from a review of the use, usefulness and implementation of the Single Rulebook Questions and Answers (Q&A) that provide common answers to stakeholders' questions on the EU regulatory framework.
This review, which focused on final Q&A relating to the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD), was carried out in the second half of 2018 using questionnaires addressed to competent authorities (CAs) and selected industry representatives, without intending to be comprehensive.
The findings show that both CAs and institutions widely encourage the use of the Q&A process/tool. In addition, the final answers are very largely followed and play a considerable role in the application and implementation of the CRR and CRD. Similar rationales were given to explain the limited number of cases of non-application that were reported. The EBA is considering these cases in more detail in order to better understand the obstacles and issues.
Overall, CAs and institutions are satisfied with the utility of the Single Rulebook Q&A tool and the answers, but they make important and sometimes far-reaching suggestions for improvement. The EBA will consider these suggestions with a view to developing realistic and workable proposals for changes.
Based on the observations made, the EBA included in the report non-prescriptive good practice guidance that institutions could adopt when using of Q&A tool.