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Andrea Enria, Chairperson of the EBA, in his opening remarks at the EBA’s 5th Anniversary Conference, touched on the EBA’s achievements in the last five years and the challenges that still lie ahead for the Authority.

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.

In the context of the forthcoming implementation of the IFRS 9 Financial instruments standard (IFRS 9) in the EU, the European Banking Authority (EBA) is launching an impact assessment of the standard on a sample of approximately 50 institutions across the EU.