2023 01 23 Letter to Quinn Emanuel Urquhart & Sullivan UK LLP on DNB Discos.pdf
Letter to Quinn Emanuel Urquhart & Sullivan UK LLP on DNB Discos
Letter to Quinn Emanuel Urquhart & Sullivan UK LLP on DNB Discos
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).
Updated CET1 list Q4 2022
The European Banking Authority (EBA) published today an updated list of capital instruments that Competent Authorities across the European Union (EU) and for the first time the European Economic Area (EEA) have classified as Common Equity Tier 1 (CET1). Since the publication of the previous update in December 2021, the CET1 instruments compliant with the Capital Requirements Regulation (CRR) and issued by institutions from Iceland, Liechtenstein and Norway have been added to the list. The list will be maintained and updated on a regular basis.
Report on the monitoring of TLAC-/MREL-eligible liabilities instruments of EU Institutions
The European Banking Authority (EBA) today published an updated total loss-absorbing capacity and minimum requirement for own funds and eligible liabilities (TLAC/MREL) monitoring Report. Following the first TLAC-MREL monitoring Report, the EBA has observed that its recommendations have been, overall, well implemented. However, it has identified the need for a few new notable provisions to be recommended and for some others to be avoided. This Report provides policy views based on TLAC/MREL instruments assessed up to February 2022 with a view to continue strengthening the quality of the instruments and to have more standardised information across the EU.
For the first time in the context of the G-SII identification methodology and buffer rates allocation, the European Banking Authority (EBA) today disclosed data items specific to the recognition of the Banking Union and of institutions that are part of the Single Resolution Mechanism. Today’s publication covers 13 indicators and updated underlying data for the 30 largest institutions in the EU whose leverage ratio exposure measure exceeds EUR 200 bn. Acting as a central data hub in the disclosure process, the EBA updates this data on a yearly basis and provides user-friendly tools to aggregate it across the EU.
The European Banking Authority (EBA) today published an analysis of how its Opinion on the prudential treatment of legacy instruments has been implemented across the EU. Since the issuance of this Opinion, the EBA has been working in close cooperation with competent authorities to monitor any action taken by institutions to mitigate the infection risk related to such legacy instruments. Overall, the EBA found that both institutions and competent authorities have made significant efforts to implement the EBA Opinion in an effective and consistent manner.
Opinion on legacy instruments - outcome of its implementation
Opinion on amendments to the RTS on own funds and eligible liabilities
The European Banking Authority (EBA) published today an Opinion on the amendments proposed by the European Commission to the EBA final draft Regulatory Technical Standards (RTS). In the Opinion the EBA expresses its disagreement with two substantive changes proposed by the Commission and agrees with the other amendments, which are considered non-substantive.
EBA Report on the monitoring of CET1 instruments issued by EU institutions - update
Updated EBA CET1 list_Q4 2021
The European Banking Authority (EBA) published today an updated list of Common Equity Tier 1 (CET1) instruments of EU institutions. This list is accompanied by an updated CET1 Report, which includes information on the underlying objectives of the monitoring as well as on the consequences of including or excluding instruments in or from the CET1 list. The EBA's monitoring of capital instruments contributes to the enhancement of the quality of institutions' capital across the EU. The EBA will continue to update the Report on a regular basis to give account of new developments in CET1 issuances and practices.
Consultation paper
Report on the monitoring of Additional Tier 1 instruments of EU institutions
The European Banking Authority (EBA) published today its updated Report on the monitoring of Additional Tier 1 (AT1) instruments including an update on the monitoring of the implementation of the EBA’s Opinion on legacy instruments and its considerations on ESG capital bonds. The objective of this update is to further strengthen the robustness and quality of EU institutions’ own funds and eligible liabilities instruments.