EBA欧洲银行-EBA-BS-2015-007rev1-28Final-Minutes-BoS-10-11-December29_15页_391kb

EBA Board of Supervisors – Final Minutes Summary (EBA BS 2015 007rev1)

Core Content

The document outlines the key discussions and decisions made during the EBA Board of Supervisors meeting held on 10–11 December 2014 in London. It covers a range of topics related to regulatory standards, risk management, resolution planning, and supervisory procedures, with a focus on aligning European banking regulations with Basel standards and addressing practical implementation challenges.

Main Points and Key Information

Agenda Item 1: Welcome, Approval of Agenda and Minutes

• The meeting was opened by the Chairperson, who announced changes to the BoS membership:
  • Ms Christiane Campill replaced Mr Claude Simon from Luxembourg.
  • Ms Argyro Procopiou replaced Mr Yiangos Demetriou from Cyprus.
  • Mr Rudi Bonte resigned as an alternate from Belgium.
• The provisional agenda and minutes from previous meetings were approved.
• The EBA 2015 budget was expected to be reduced by approximately 6.2% due to a political agreement between the European Parliament and the Council of the EU. A shortened written procedure would be used for approval.
• A revised proposal for draft RTS and ITS on benchmarking was to be submitted by written procedure following feedback from BoS members.

Agenda Item 2: Election of Members of the Management Board

• Two BoS Members, Andrew Bailey (UK PRA) and Fernando Vargas Bahamonde (Bank of Spain), were re-elected for a second and final 2.5-year mandate.

Agenda Item 3: Update on Risks and Vulnerabilities

• The EBA staff presented an update on various risks and vulnerabilities, including:
  • Capital evolution, profitability, market sentiment, debt overhang, asset quality, and conduct/cyber/IT risk.
• The SCOP Chair emphasized the need for further work on conduct risk and technological risk.
• The ESRB representative highlighted risks such as low inflation and insurance sector non-compliance.
• The ECB and SSM representatives discussed the impact of regulatory increases and staff shortages on execution risk.

Agenda Item 4: Second Impact Assessment Report on Liquidity Coverage Ratio (LCR)

• The final report on LCR was submitted for approval.
• BoS members raised concerns about the transitional period recommendations and net shortfall assumptions.
• It was suggested that the report should focus on the EU delegated act rather than Basel standards.
• The EBA invited BoS members to submit re-wording proposals to sharpen the supervisory message.
• The report would be finalized and submitted to the BoS for approval by written procedure in January 2015.

Agenda Item 5: Draft Final RTS on Roll-Out and Permanent Partial Use (PPU)

• The draft final RTS on PPU was re-submitted with option 1 for a written vote after no option received sufficient support.
• The EBA staff noted that the draft allowed flexibility in applying the thresholds.

Agenda Item 6: Draft Final RTS on Risk-Mitigation Techniques for OTC Derivatives Contracts

• The draft RTS was broadly supported, with some suggestions for clarification and flexibility.
• The EBA agreed to liaise with the Commission on the legal interpretation of proportionality.
• The draft would be revised and submitted to the BoS by written procedure in January 2015.

Agenda Item 7: Final Draft Report on Capital Requirements for Credit Valuation Adjustment (CVA)

• The report was supported, with a statement on the need for review of CVA exemptions.
• The EBA noted that supervisors could address excessive CVA risk through Pillar 2 assessments.
• Guidelines would be developed to support SREP implementation.

Agenda Item 8: Draft Final Guidelines on Methodology to Identify O-SILs

• The draft was adopted as submitted.
• The report would be published externally after incorporating BoS comments.

Agenda Items 9–15: Preliminary Draft Advice to the European Commission

• Three pieces of preliminary advice were presented for comments:
  • Core business lines and critical services.
  • Exclusions from bail-in.
  • Deferral of ex-post contributions to resolution funds.
• BoS members suggested improvements to the content and legal interpretation.
• The EBA would revise the drafts and submit them for approval by written procedure in January 2015.

Agenda Item 16: Draft Consultation Paper on Procedures for Resolution Plans

• The draft was endorsed for public consultation in January 2015.
• Further improvements and a workshop on resolution colleges were planned for 2015.

Agenda Item 17: Draft Consultation Paper on Security of Internet Payments

• The draft was re-submitted for approval by a shortened written procedure.
• An explanatory summary on the comply-or-explain process was prepared for the TFPS.

Agenda Items 18–24: Draft Guidelines and Consultation Papers

• A draft consultation paper on creditworthiness assessment, arrears and foreclosure, and passporting requirements under the MCD were adopted for public consultation.
• The EBA would clarify questions related to national supervisory authorities outside its scope during the transposition of the MCD in 2015.

Agenda Item 25: Discussion Note on PRIIPS

• A discussion note was presented, with a plan to issue a separate consultation paper in early summer 2015.

Agenda Item 26: Reports from Committees

• The BoS took note of the reports from the committees.

Agenda Item 27: AoB

• The Chairperson invited BoS members to submit further comments on a draft CP related to notification procedures and suspension notices.
• Meetings in 2015 would start early in the morning.
• A question on the treatment of interim profits was referred back to the relevant Standing Committee for review.

Conclusion

The meeting was focused on aligning regulatory frameworks, ensuring proportionality in supervisory measures, and preparing for the implementation of new standards and guidelines. A number of documents were re-submitted for approval by written procedure, with a view to finalizing them before the end of 2014 and publishing in early 2015. The EBA emphasized the importance of coordination with the European Commission and other regulatory bodies to ensure consistency and feasibility of the proposed measures.