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The European Banking Authority (EBA) published today its future work plan on credit assessments issued by External Credit Assessment Institutions (ECAIs). Besides its ongoing work on the mapping of ECAIs’ credit assessments, the EBA plans to strengthen the monitoring and quality of such mapping used for the determination of capital requirements, which may be calculated based on the relevant credit assessments produced by the current 25 credit rating agencies (30 in the future).

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation to amend the Implementing Regulations on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk to reflect the recognition of five new credit rating agencies (CRAs) and the deregistration of one CRA. The Implementing Regulations are part of the EU Single Rulebook for banking and insurance aimed at creating a safe and sound regulatory framework consistently applicable across the European Union (EU). The consultation runs until 18/09/2017.

The European Banking Authority (EBA) published today a revised Decision confirming the quality of unsolicited credit assessments assigned by certain External Credit Assessment Institutions (ECAIs) for calculating institutions' capital requirements. The revised Decision, which reflects the recognition of five additional ECAIs and the de-registering of one ECAI, is part of the Single Rulebook in banking and will ensure regulatory harmonisation across the European Union (EU) regarding the use of unsolicited credit ratings for determining institutions' own funds requirements.

The European Banking Authority (EBA) published today (i) its final draft regulatory technical standards (RTS) on the information applicants shall provide to competent authorities when applying for authorisation as credit institutions, and (ii) its final draft implementing technical standards (ITS) related to the templates to be used for the provision of such information. Overall, these final draft technical standards aim at promoting convergence of supervisory practices regarding the assessment of the applications by prescribing a common set of information to be submitted to the competent authorities whilst securing a proportionate and workable approach that takes into account differences in applicants’ size and proposed business models.

The European Banking Authority (EBA) launched today a consultation on a set of Guidelines specifying a uniform format for the institutions’ disclosure requirements of IFRS 9 and analogous expected credit losses (ECLs) transitional arrangements. The Guidelines aim at increasing consistency and comparability of the information disclosed by institutions during the transition to the full implementation of the new accounting standard, and at ensuring market discipline. The consultation runs until 13 September 2017.

The European Banking Authority (EBA) published today a Report including some qualitative and quantitative observations of its second impact assessment of IFRS 9. This exercise, which follows up on the first impact assessment published in November 2016, has confirmed the EBA’s initial observations on the stage of preparation for the implementation of IFRS 9 and the estimated impact of IFRS 9 on regulatory own funds.