EBA publishes final Guidelines for disclosing confidential information under the BRRD

The European Banking Authority (EBA) published today its final Guidelines defining how confidential information collected under the Bank Recovery and Resolution Directive (BRRD) should be disclosed in summary or collective form without identifying individual institutions or relevant entities.

In developing these Guidelines, the EBA sought to foster convergent practices by: giving guidance on how confidential information should be provided in summary or collective form and defining the principle-based factors (i.e. number of institutions, specific patterns and context of disclosure) for ensuring that when information is disclosed such in summary or collective form, individual institutions or entities cannot be identified (i.e. in an anonymised form).

The approach taken in these Guidelines is intended to strike a balance between the need to achieve an appropriate level of convergence of practices regarding how confidential information should be provided in summary or collective form, and the need to ensure flexibility, considering that there may be many different types of confidential information, as well as many different circumstances and situations under which confidential information may need to be disclosed.

Legal basis and background

These Guidelines have been developed according to Article 84(7) of the Bank Recovery and Resolution Directive (BRRD), which mandates the EBA to draft Guidelines for the purposes of disclosing information in summary or collective form.