EBA peer review report assessing how national authorities supervise creditors' treatment of mortgage borrowers in arrears under the Mortgage Credit Directive (MCD), evaluating compliance with Article 28 MCD and EBA Guidelines on arrears and foreclosure, supervisory approaches, and recommendations for improvement.
The European Banking Authority (EBA) today published a peer review on the supervision of creditors’ treatment of mortgage borrowers in arrears under the Mortgage Credit Directive (MCD), assessing the conduct supervisory approaches of competent authorities in this area. The review, which was developed in response to the current economic conditions and high interest rate environment, found that competent authorities’ supervision is overall effective and has been adapted to reflect the current interest rates environment and risks to mortgage borrowers. However, the review found differences in the level of scrutiny which competent authorities apply to MCD creditors, including the identification of risks borrowers are facing. The report sets out some follow-up measures, both for individual competent authorities, and for all competent authorities more generally, to ensure that supervisory measures to mitigate consumer detriment are taken before the detriment materialises. The report also sets out some best practices in this area that might be of benefit for other competent authorities to adopt.
Joint report by the European Supervisory Authorities (EBA, EIOPA, ESMA) updating the functioning of innovation facilitators – innovation hubs and regulatory sandboxes in the EEA, analysing trends, objectives, risks, and recommendations for NCAs, ESAs, and the European Commission.
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published a Report on innovation facilitators, a term encompassing innovation hubs and regulatory sandboxes. The Report identifies a number of benefits and challenges relating to the operation and design of such innovation facilitators and presents recommendations and considerations towards national competent authorities (NCAs), the ESAs and the European Commission to further enhance the role and efficiency of innovation facilitators in the financial sector across the European Economic Area (EEA).
European Supervisory Authorities launch public consultation on DORA’s second batch of policy products, covering ICT-related incident reporting standards, timelines, templates, and guidelines on aggregated costs and losses from major ICT incidents, due by 17 July 2024.
European Supervisory Authorities (ESAs) consult on draft Regulatory Technical Standards outlining requirements for threat-led penetration tests under DORA, covering methodology, scope, and reporting to strengthen financial sector cyber resilience by March 2024.
European Supervisory Authorities (ESAs) consult on draft joint guidelines for oversight cooperation and information exchange with competent authorities under Regulation (EU) 2022/2554, aiming to strengthen supervisory coordination and transparency by March 2024.
EBA consultation on draft technical standards under DORA for reporting major incidents and significant cyber threats, defining content, formats, timelines, and procedures for financial entities.
EBA and ESAs consult on draft regulatory technical standards to harmonise conditions for oversight activities under Regulation (EU) 2022/2554, covering requirements for effective supervision and stakeholder feedback until March 2024.
EBA, EIOPA, and ESMA consult on joint guidelines under DORA for financial entities to estimate and report aggregated annual costs and losses from major ICT-related incidents, ensuring harmonisation, proportionality, and consistency with incident classification and reporting standards.
European Supervisory Authorities consult on draft regulatory technical standards outlining requirements for financial entities assessing ICT subcontracting of critical or important functions under DORA (Regulation (EU) 2022/2554).
The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) launched today a public consultation on the second batch of policy mandates under the Digital Operational Resilience Act (DORA). Today’s package includes four draft regulatory technical standards (RTS), one set of draft implementing technical standards (ITS) and two sets of guidelines (GL). These policy instruments aim to ensure a consistent and harmonised legal framework in the areas of major ICT-related incident reporting, digital operational resilience testing, ICT third-party risk management and oversight over critical ICT third-party providers. The consultation runs until 4 March 2024.