EBA streamlines Single Rulebook Q&A tool

The European Banking Authority (EBA) has introduced some important changes to the Single Rulebook Q&A tool. The major changes focus on the stricter prioritisation of incoming questions, more stringent criteria for submitting questions, grouping of questions which raise related issues, and a new publication policy for questions and answers.

Stricter prioritisation will take into account the particular issues raised, their impact on the Single Market and whether they raise wider concerns for the banking industry. Users will have to comply with all of the required elements when submitting questions. Full and concise questions, background information and proposed answers are mandatory requirements.

Submitted questions will no longer be published while under review, but only after the answers have been finalised.

Rejected questions will be published for two months to illustrate the types of questions that are unsuitable. After this period, they will be deleted from the tool. The rejections will also reflect the stricter criteria for submitting questions set out in points 9-13 of the additional background and guidance for asking questions.

Furthermore, the EBA will be providing extracts of all final Q&As grouped by topics (i.e. own funds, credit risk etc.) in PDF format - with the Reporting–related Q&As in a separate file. The files will be updated on a quarterly basis, starting from end of September 2014.

Further information can be found at https://eba.europa.eu/single-rule-book-qa.