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The European Banking Authority (EBA) today launched a public consultation on its draft ITS overhauling the EBA resolution planning reporting framework. The consultation runs until 30 October 2024.

The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published their joint Final report on the draft Regulatory Technical Standards (RTS) specifying how to determine and assess the conditions for subcontracting information and communication technology (ICT) services that support critical or important functions under the Digital Operational Resilience Act (DORA). These RTS aim at enhancing the digital operational resilience of the EU financial sector by strengthening the financial entities’ ICT risk management over the use of subcontracting.

The European Banking Authority (EBA) published today final Guidelines that extend the existing Joint Committee Guidelines on complaints handling (JC Guidelines) to credit servicers under the new Credit Servicers Directive. When handling complaints from borrowers, credit services are required to apply the same effective and transparent procedures that have been applied for more than a decade to other firms in the banking, insurances and securities sectors.

The European Banking Authority (EBA) today published an Opinion in response to the observations made by European Parliament in its 2022 Discharge Report. Out of 29 observations, which cover the areas of budget and financial management, performance, efficiency and gains, staff policy, prevention and management of conflicts of interest and transparency, procurement, internal control, and other comments, the EBA considers that the large majority (21) has already been addressed or does not require follow-up action. For a smaller number of observations (8) follow-up action is deemed to be an ongoing or continuous effort.

The European Banking Authority (EBA) today published a Peer Review on its Guidelines on the application of the definition of default.  The Review found that the effectiveness of supervision in this area is good, in particular as regards the monitoring of internal ratings-based approach (IRBA) credit institutions. Supervision of the definition of default of credit institutions using the standardised approach (SA) is also good but more varied, reflecting the more dispersed nature of credit institutions and the relative predominance of IRBA credit institutions in terms of size and assets in different jurisdictions. The Report identifies a small number of follow-up measures/recommendations for certain competent authorities as well as best practices that would be of benefit for other competent authorities to adopt.