Third country equivalence and international cooperation

The main goal of equivalence is to manage effectively and facilitate cross-border activity of financial market players in a sound prudential environment, as third countries adhere and adopt the same high standards of prudential rules that are in force within the EU. To this extent, the recognition of equivalence can provide mutual benefits for both the EU and third country financial markets and institutions. The EBA carries out two types of equivalence assessments: equivalence of the regulatory and supervisory framework, and equivalence of confidentiality and professional secrecy. The equivalence assessment process is a key component for the establishment of cooperation agreements with third countries. Such cooperation agreements cover areas such as the exchange of information with third country authorities relating to equivalence assessment and monitoring, as well as cooperation with EU authorities with regard to supervision, crisis management and resolution matters.

Technical Standards, Guidelines & Recommendations

  • Fourth update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges

    The fourth update added the following third country authorities to the list of authorities whose confidentiality regimes can be regarded as equivalent as the ones applied in the EU: the ADGM Financial Services Regulation Authority (the Abu Dhabi Global Market), the Financial Supervisory Service (the Republic of South Korea), the National Bank of Moldova (the Republic of Moldova) and the Securities and Futures Commission (Hong Kong).

    Status: Final and translated into the EU official languages

  • Third update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges

    The third update to the Recommendation on the equivalence of confidentiality regimes added the following three non-EU supervisory authorities to the list of authorities whose confidentiality regimes can be regarded as equivalent as those applied in the EU: the Guernsey Financial Services Commission (the Bailiwick of Guernsey), the Superintendence of the Financial Services of the Central Bank of Uruguay (the Oriental Republic of Uruguay); and the Bank of Korea (the Republic of Korea).

    Status: Final and translated into the EU official languages

  • Second update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges

    The second update to the Recommendation on the equivalence of confidentiality regimes added the following non-EU supervisory authorities to the list of authorities whose confidentiality regimes can be regarded as equivalent to the ones applied in the EU: Australian Prudential Regulation Authority, the Reserve Bank of Australia, the Hong Kong Monetary Authority, the Bank of Japan, the Japan Financial Services Agency, and the Central Bank of the Republic of Kosovo.

    Status: Final and translated into the EU official languages

  • First update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges

    This update added the Albanian supervisory authority to the list of authorities whose confidentiality regimes can be regarded as equivalent to the ones applied in the EU.

    Status: Final and translated into the EU official languages

Opinions, Reports and other Publications

 

Opinions