Single Rulebook Q&A

 

Stakeholders can submit questions on the following legislative texts:

  • Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, as amended by Directive (EU) 2019/878 (the Capital Requirements Directive or CRD5);
  • Regulation (EU) No 575/2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 as amended by Regulation (EU) 2019/876 (the Capital Requirements Regulation or CRR2);
  • Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council as amended by Directive (EU) 2019/879 (Bank Recovery and Resolution Directive or BRRD2);
  • Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (DGSD);
  • Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (PSD2);
  • Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (Mortgage Credit Directive or MCD).
  • Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 (Simple, transparent and standardised Securitisation Regulation or SecReg)

Important update for users (August 2019):

With the publication in the Official Journal of the EU of Directive 2013/36/EU as amended by Directive (EU) 2019/878 (the Capital Requirements Directive or CRD5), and Regulation (EU) No 575/2013 as amended by Regulation (EU) 2019/876 (the Capital Requirements Regulation or CRR2), Directive 2014/59/EU as amended by Directive (EU) 2019/879 (Bank Recovery and Resolution Directive or BRRD2), questions submitted in the Q&A tool on those legislative texts should, as of 02/08/2019 pertain to the texts (and use references) as amended / updated.

The questions submitted should furthermore focus on provisions that are already applicable. For questions on issues whose application date lies in the future, the EBA may defer the processing of the questions to a later stage. The processing of questions and the response time may also depend on the overall number of questions that will be received on the amended texts.

 

The overall objective of the Q&A tool is to ensure consistent and effective application of the new regulatory framework across the Single Market, and hence contribute to the building of the Single Rulebook in banking.

The process entails close and ongoing interaction between the EBA and the European Commission to ensure that the responses to the questions submitted remain consistent with the European legislative texts.

Institutions, supervisors and other stakeholders can use the Single Rulebook Q&A tool for submitting questions on CRD5; CRR2; BRRD2; DGSD; PSD2; MCD and SecReg and the related technical standards developed by the EBA and adopted by the European Commission (RTS and ITS), as well as EBA guidelines.

The Q&As have no binding force in law, nor are they subject to "comply or explain". However their application will be rigorously scrutinised and challenged by the EBA and national supervisory authorities given their undoubted practical significance to achieve a level-playing field. Peer pressure and market discipline are also expected to play a driving force in ensuring adherence to and compliance with the answers provided in the Q&A process.

For questions that go beyond matters of consistent and effective application of the regulatory framework a Directorate-General of the Commission (Directorate General Financial Stability, Financial Services and Capital Markets Union) will prepare answers, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. These answers will be unofficial opinions of that Directorate General, which the EBA publishes on its behalf. These answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&A, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.

Final answers will be published on Fridays between 1pm and 2pm CET (12pm-1pm GMT) - adjusted for summer time as appropriate - except if this coincides with an EU public holiday. In this instance answers will be published on the preceding working day.

IMPORTANT: Please note that the EBA only starts accepting questions on the application and implementation of technical standards related to the CRD5; CRR2; BRRD2; DGSD; PSD2; MCD and SecReg once these are published on the Official Journal of the European Union. An exception is made with respect to certain draft Implementing Technical Standards on Supervisory Reporting, as the EBA needs to address these on a timely basis in order to allow institutions to make the necessary preparations or changes to their reporting systems. The EBA has begun to publish the provisional answers to questions; however, it is important to note that these should not be considered final until the Implementing Technical Standards on Supervisory Reporting they refer to are endorsed by the European Commission and published on the Official Journal of the European Union.

 

Features of the Q&A tool

The EBA previously introduced some important changes to the way the Q&A tool is operated. Before posting a question, users should read the revised Additional background and guidance for asking questions to learn about the changes in the tool.
 
We recommend that users take a note of the following points in particular:
 
  • Submitted questions will be published only after an answer has been finalised.
  • Rejected questions will be published for a period 2 months and with the purpose of illustrating the types of questions that are not suitable. The rejections reflect the stricter criteria set out in the guidance mentioned above.
  • The Q&A pages have been reorganised in a way that encourages users to use the 'Search for Q&As' function and to refer to the guidance mentioned above before submitting any questions.