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The European Banking Authority (EBA) published today an Opinion on the draft European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG). In this Opinion, addressed to the European Commission, the EBA acknowledges that, overall,  the draft ESRS are consistent with international standards and any other relevant EU Regulation. In addition, the EBA very much welcomes the level of alignment with the Pillar 3 disclosure requirements reached at this stage. The EBA also highlights a few aspects that should deserve further consideration by the European Commission.

The European Banking Authority (EBA) published today a response to the letters received from a law firm on 23 June and 3 October 2022, regarding the case of the prudential classification as Tier 2 instruments of legacy perpetual bonds (so-called ‘Discos’) of an institution established in Norway (DNB Bank ASA).