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EBA Staff Meetings with Stakeholders Summary

Core Content Overview

The document outlines a series of meetings held by the European Banking Authority (EBA) staff members with various stakeholders between April and June 2016. These meetings were focused on regulatory and supervisory topics, including the implementation of the Capital Requirements Regulation (CRR), the Capital Requirements Directive (CRD), securitisation, risk management, and financial sector resolution. The meetings involved a wide range of participants, including banks, financial institutions, legal advisors, academics, and industry associations.

Main Topics and Key Discussions

Regulatory and Supervisory Convergence

• MDA (Minimum Disclosures for the Capital Requirements Directive): Discussed in multiple meetings with stakeholders like Autonomous Research, Banco Santander, and UniCredit.
• SREP (Supervisory Review and Evaluation Process): Covered in meetings with UniCredit and other institutions.
• Pillar 2: Discussed with Pimco.
• Supervisory Colleges: Focus on how they are working and their role in regulatory coordination.

Securitisation

• Risk Retention: Discussed with A&O, Deutsche Bank, and others.
• Covered Bonds: Covered in meetings with BAML, Deutsche Bank, Credit Agricole, and others.
• Securitisation Risk Retention (SMA Basel): Addressed in meetings with Deutsche Bank and others.
• Securitisation and Reporting: Topics of interest for the European Data Warehouse and other stakeholders.

Leverage Ratio

• Public Hearing on Leverage Ratio: Held on 15/04/2016 with multiple stakeholders, including Barclays, Credit Suisse, and others.
• Regulatory Impact: Stakeholders expressed concerns about the implications of the Leverage Ratio on their operations.

Risk Management and Data Reporting

• Risk Weighted Assets (RWA): Discussed with Mediobanca.
• Data Management and Reporting: Covered in meetings with Deloitte and the European Data Warehouse.
• EU Reporting Framework: Part of the discussions with Morgan Stanley and others.
• Stress Testing and Risk Assessments: Covered in meetings with Morgan Stanley and others.
• Default and Materiality Thresholds: A key focus in the roundtable discussions on the RTS (Regulatory Technical Standards) on Materiality Threshold and Definition of Default.

Resolution and MREL

• Resolution Framework (BRRD): Discussed in meetings with Credit Suisse, the Centre for European Policy Studies, and others.
• MREL (Minimum Requirement for Own Funds and Eligible Liabilities): Covered in several meetings, including those with the European Banking Federation and others.
• TLAC (Total Loss Absorbing Capacity): Addressed with Credit Suisse and others.

Financial Innovation and Fintech

• Fintech and Digital Transformation: Discussed in meetings with BBVA, Morgan Stanley, and others.
• EU Training and Industry Engagement: Covered in the lunch meeting with FS Learning.

Governance and Institutional Relations

• EBA Governance Structure: Discussed with Austrian students, Oslo students, and others.
• Single Rule Book: A recurring topic in meetings with various stakeholders.
• Inter-Institutional Relations: Covered in discussions with the European Data Warehouse and others.

Key Stakeholders and Participants

• Banks: Banco Santander, UniCredit, Deutsche Bank, Credit Suisse, BAML, BBVA, Morgan Stanley, Standard Chartered, etc.
• Financial Institutions: Goldman Sachs, BlackRock, Société Générale, etc.
• Legal Advisors: Boris Bartels (BRP Bizzozero & Partners UK Ltd), Deloitte, PwC, etc.
• Industry Associations: European Association of Co-operative Banks (EACB), European Banking Federation (EBF), Investment Association, etc.
• Academics and Students: From various universities and educational institutions, including the MIB School of Management, the College of the Cooperative and Raiffeisen Confederation Banks in Bavaria, and others.
• Regulatory Bodies: ECB, EBA, FCA UK, etc.

Summary of Meeting Outcomes

• The EBA engaged in extensive discussions on the implementation of the CRR and CRD, focusing on topics like MDA, Pillar 2, and Leverage Ratio.
• Securitisation was a central theme, with multiple meetings addressing risk retention, covered bonds, and data collection for investment firms.
• Risk management and data reporting were emphasized, especially with regard to the EU-wide reporting framework, stress testing, and the development of RTS on default and materiality thresholds.
• Resolution and MREL were discussed with various stakeholders, including Credit Suisse and the Centre for European Policy Studies.
• The EBA also focused on financial innovation and fintech, highlighting the importance of adapting to new regulatory and market environments.
• Educational outreach was part of the EBA's strategy, with student meetings aimed at explaining the EBA's mission, governance, and role in the EU financial landscape.

Conclusion

The meetings reflect the EBA's active engagement with stakeholders across the financial sector, emphasizing regulatory compliance, risk management, and the development of a unified regulatory framework. These interactions were crucial for aligning industry practices with EU regulations and for fostering dialogue on emerging challenges and opportunities in the financial landscape.