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The EBA has received a notification from Banco de Portugal on the completion of the resolution of Banco Espírito Santo through the re-transfer of five senior bonds from Novo Banco to Banco Espírito Santo.

The European Banking Authority (EBA) published today the outcome of its 2015 EU-wide transparency exercise and provided detailed bank-by-bank data on capital positions, risk exposure amounts and asset quality on 105 banks from 21 countries of the European Economic Area (EEA) as part of its ongoing commitment to enhancing transparency in the EU Banking sector. The data, which shows improvements in the resilience of the EU banking sector, is published at the highest level of consolidation, covering around 70% of total EU banking assets for the reference dates of 31 December 2014 and 30 June 2015. By disclosing these fully comparable figures in user friendly formats, the EBA aims to promote greater understanding of capital positions and exposures of the EU banking sector and foster market discipline in the Single Market.

The EBA acknowledges notification from the Portuguese Government and Banco do Portugal with respect to their decision on the the sale and resolution of Banco Internacional do Funchal, S.A (BANIF).

The European Banking Authority (EBA) launched today a consultation on its draft guidelines on remuneration policies and practices related to the sale and provision of retail banking products and services. The EBA has identified poor remuneration policies and practices as a key driver of miss-selling of financial products and services. The Guidelines are aimed at protecting consumers and reducing conduct costs of firms. The consultation runs until 22 March 2016.

The European Banking Authority (EBA) published today its eighth semi-annual report on risks and vulnerabilities in the EU banking sector. The report shows that EU banks have continued to strengthen their capital position and to improve asset quality. However, the level of non-performing exposures remains high and profitability is still weak. The report also analyses the exposures towards emerging market (EM) countries and non-bank financial intermediaries.

The European Banking Authority (EBA) published today its final Guidelines on sound remuneration policies together with its Opinion on proportionality, recommending exemptions from the remuneration principles in the Capital Requirements Directive (CRD IV). The guidelines ensure that institutions calculate correctly and consistently the so called ‘bonus cap’ by setting out specific criteria for mapping all remuneration components into either fixed or variable pay and detailing how specific remuneration elements such as allowances, sign-on bonuses, retention bonuses and severance pay are to be recognised over time.

The European Banking Authority (EBA) issued today an Opinion on the trigger, calculation and transparency of the Maximum Distributable Amount (MDA). The Opinion clarifies that the MDA should be calculated taking into account both minimum (Pillar 1) and additional (Pillar 2) capital requirements which should be met at all times, as well as the combined buffer requirement. The Opinion is designed to support the consistent application of distribution restrictions laid down in the Capital Requirements Directive (CRD) in order to promote a level playing field across the Single Market, and to give greater certainty for banks’ capital planning needs. It also calls for transparency in Pillar 2 outcomes for all banks, with a view to providing clarity for investors in banks. The Opinion advises the European Commission to review the CRD text in the future to ensure certainty and more consistency.

The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on stress testing. These Guidelines set out expectations for institutions’ stress testing programmes and seek improvements by drawing on lessons from previous stress test exercises. In addition, they aim at promoting convergence of the use of stress testing in the context of the supervisory review and evaluation process (SREP). The consultation runs until 18 March 2016.