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The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) published today their joint report on the functioning of the Capital Requirements Regulation (EU) No 575/2013 (CRR) with the European Market Infrastructure Regulation (EU) No 648/2012 (EMIR). The report calls for the requirements for credit, market, and counterparty credit risk in the CRR to be clarified. This clarification should ensure that only risks not already covered by specific financial resources for activities not related to clearing are to be covered by CRR requirements. This exclusion should also be extended to activities covered by interoperability arrangements.

The European Banking Authority (EBA) published today its final Guidelines specifying the application of the definition of default across the EU and its final draft Regulatory Technical Standards (RTS) on the materiality threshold of past due credit obligations. The EBA also released the results of a quantitative and qualitative impact study (QIS) aimed at assessing the impact on the regulatory capital requirements of selected policy options to harmonise the definition of default used by EU institutions. Both the Guidelines and the final draft RTS will harmonise the definition of default across the EU, thus contributing to improving consistency and comparability of capital requirements.

The European Banking Authority (EBA) published today the final draft Regulatory Technical Standards (RTS) specifying the assessment methodology competent authorities shall follow in assessing the compliance of an institution with the requirements for the use of the Internal Ratings Based Approach (IRB Approach). The purpose of these RTS is to harmonise the supervisory assessment methodology with respect to the IRB Approach across all Member States in the European Union (EU).

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) specifying how institutions should take into account and treat several factors when assigning risk weights to specialised lending exposures. The purpose of these RTS is to harmonise the assignment of risk weights to specialised lending exposures for institutions that apply the so called ‘supervisory slotting criteria’ approach. These final draft RTS will be part of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in Europe.

The European Banking Authority (EBA) published today a Report on small and medium enterprises (SMEs) which analyses (i) the evolution of lending trends and conditions for SMEs, (ii) the effective riskiness of EU SMEs over a full economic cycle and (iii) the consistency of own funds requirements laid down in the Capital Requirements Regulation (CRR) for credit risk on exposures to SMEs. Overall, the results of the EBA analysis show limited effectiveness of the SME Supporting Factor (SF). However, more data is needed before drawing firm conclusions and, therefore, the EBA recommends continued monitoring of the application of the SF.

The European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) published today the final draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR).

The European Banking Authority (EBA) published today an Opinion specifying the general principles and timelines for the implementation of the regulatory review of the internal ratings-based (IRB) approach. The aim of the Opinion is to provide guidance and clarity to both Competent Authorities and institutions on the planned review and its implementation. The Opinion is supported by a Report, which summarises the feedback received from the public consultation on the EBA discussion paper on the future of the IRB approach.