The Deposit Guarantee Scheme Directive (DGSD) aims to facilitate access to the internal market through the freedom of establishment and the freedom to provide financial services while increasing the stability of the banking system and the protection of depositors. To fulfil its role of monitoring the implementation of the DGSD, national authorities must notify the EBA of any relevant information as well as of any actions taken. The EBA publishes the non-confidential elements of these […]
The EBA has a strong interest in promoting sound and high quality accounting and disclosure standards for the banking and financial industry, as well as transparent and comparable financial statements that strengthen market discipline. The EBA also advocates for sound audit practices that contribute to high quality corporate reporting and to useful and understandable auditor reporting. The developments in the area of international accounting and auditing standard setting are, therefore, […]
ECAIs play a significant role in the standardised approach and securitisation framework of prudential regulation through the mapping of each of their credit assessments to the corresponding risk weights. The EBA, together with ESMA and EIOPA, has been assigned the task of providing an objective mapping across all ECAIs in order to promote a consistent implementation of CRR across the EU. Importantly, the EBA will also contribute to the implementation of CRR2/CRDV and CRA 3 Regulation in […]
The EBA cooperates regularly and closely with the other two European Supervisory Authorities (ESAs), EIOPA and ESMA, through the ESAs' Joint Committee. The aim of this cooperation is to ensure cross-sectoral consistency of work and to reach joint positions in the area of supervision of financial conglomerates, under the Financial Conglomerates Directive (FICOD, 2002/87/EC). In this respect, the ESAs tasks include, in particular, contribution to the European Commission's fundamental review of […]
EU legislation requires that institutions have robust governance arrangements, including a clear organisational structure with well defined, transparent and consistent lines of responsibility, effective risk management processes, control mechanisms and gender neutral remuneration policies. The internal governance should be appropriate to the nature, scale and complexity of the institution. The main responsibility for internal governance lies with the management body, which is subject to […]
