EBA欧洲银行-Executive-Summary-AR-2015-final-for-web

2015 EBA Annual Report Summary

Core Content

The 2015 Annual Report of the European Banking Authority (EBA) outlines the key achievements and future focus areas of the EBA in supporting the EU banking sector. It highlights the Authority's role in regulatory harmonisation, supervisory convergence, risk assessment, consumer protection, and international engagement.

Main Achievements in 2015

• Completing the Single Rulebook:
  The EBA worked to finalise the majority of the G20 package, enhancing consistency in prudential regulation across the EU. This included the development of binding technical standards, reports, guidelines, and opinions under the Capital Requirements Directive (CRD) and Capital Requirements Regulation (CRR).

• Strengthening Remuneration Framework:
  The EBA developed guidelines on sound remuneration policies, which will come into force on 1 January 2017. These guidelines aim to ensure a level playing field and reduce the risk of mis-selling in retail banking.

• Liquidity Regulation (NSFR):
  The EBA proposed the calibration of the Net Stable Funding Ratio (NSFR) and provided an assessment of its impact on EU institutions, financial markets, and the economy. It recommended the implementation of NSFR on a solo and consolidated basis, with certain waivers for European-specificities.

• Securitisation Regulatory Framework:
  The EBA played a significant role in the Commission's proposal to revive securitisation markets under the Capital Markets Union project. It issued recommendations on 'true sale' and synthetic securitisations to increase investor confidence, remove market stigma, and provide alternative funding channels to the real economy.

• Crisis Management and Recovery Planning:
  The EBA finalised 33 technical standards, guidelines, and opinions under the Bank Recovery and Resolution Directive (BRRD) and Deposit Guarantee Schemes Directive (DGSD). It also developed regulatory technical standards (RTS) on Minimum Requirements for Own Funds and Eligible Liabilities (MREL) to ensure institutions have sufficient liabilities to absorb losses during failure.

• Supervisory Convergence:
  The EBA focused on supervisory convergence through the development of level 2 standards and guidelines, particularly in the context of Pillar 2 and recovery planning. It also conducted assessments of supervisory practices and published its first annual report on supervisory convergence.

• Risk Assessment and Transparency:
  The EBA published its Risk Assessment Report (RAR) twice a year and enhanced its risk dashboards with a broader set of key risk indicators (KRI). It conducted an EU-wide transparency exercise, publishing bank-by-bank data and interactive tools for analysis.

• Consumer Protection:
  The EBA enhanced consumer protection by developing guidelines on product oversight, governance, and creditworthiness assessment. It also published a consumer trends report highlighting eight key areas for future work, including household indebtedness and alternative financial services.

• Payment Services and Innovation:
  The EBA issued final guidelines on internet payment security and started working on the implementation of the revised Payment Services Directive (PSD2). It also assessed the risks of lending-based crowdfunding and identified the Payment Services Directive (PSD) as the most relevant legislative text.

• International Engagement:
  The EBA actively participated in international forums such as the Basel Committee and Financial Stability Board (FSB), contributing to the review of market risk frameworks, credit valuation adjustment (CVA) frameworks, and cross-border crisis management initiatives.

• Cross-Sectoral Issues:
  The EBA collaborated with other European supervisory authorities (ESA) and the European Systemic Risk Board (ESRB) on cross-sectoral topics, including anti-money laundering, credit risk assessment, and macroprudential measures.

Key Focus Areas for 2016

• Leverage Ratio Calibration:
  The EBA will focus on the calibration of the leverage ratio, including its migration from Pillar 1 and its interaction with other prudential requirements such as risk-weighted asset (RWA) based ratios and liquidity requirements.

• Enhancing the IRB Approach:
  The EBA will review the internal ratings-based (IRB) approach, particularly phase 2 (definition of default) and phase 3 (estimation of risk parameters and treatment of defaulted assets), and will publish guidelines to clarify its regulatory considerations.

• Proportionality and Simplicity:
  The EBA will further examine the proportionality principle and its implementation in regulatory products, including hosting a round table with competent authorities (CAs) and industry stakeholders.

• Monitoring NPLs and Resolution Practices:
  The EBA will continue to monitor non-performing loans (NPLs) and their resolution, possibly producing ad hoc studies and conducting a stock-take of country-specific NPL resolution practices.

• Stress Testing and Transparency:
  The EBA will conduct the 2016 EU-wide stress test, which will serve as a supervisory tool to assess the resilience of EU banks to economic shocks. The results will be published in early Q3 2016.

• Consistency in RWAs:
  The EBA will continue to work on benchmarking exercises to address inconsistencies in the calculation of RWAs across the EU, aiming to restore confidence in banks' capital and internal models.

• Revised Pillar 3 Framework:
  The EBA will develop guidelines for the implementation of the revised Pillar 3 framework, focusing on transparency and disclosure requirements.

• Supporting Supervisory Colleges:
  The EBA will intensify its efforts to support and monitor the consistent implementation of the new crisis management framework across the EU, including through supervisory colleges.

Key Information

• Contact: Europe Direct provides free information on the EU and can be reached via the freephone number 0080067891011.
• Document Metadata:
  • Print: ISBN 978-92-9245-218-6, ISSN 1977-8783, DOI: 10.2853/01354, DZ-AA-16-001-EN-C
  • Epub: ISBN 978-92-9245-198-1, ISSN 1977-9011, DOI: 10.2853/28535, DZ-AA-16-001-EN-E
  • Web: ISBN 978-92-9245-185-1, ISSN 1977-9011, DOI: 10.2853/93041, DZ-AA-16-001-EN-N
  • Flip Book: ISBN 978-92-9245-190-5, ISSN 1977-9011, DOI: 10.2853/815, DZ-AA-16-002-EN-N
• Publication: Published by the Publications Office of the European Union in Luxembourg, 2016.
• Copyright: © European Banking Authority, 2016.
• Reproduction: Reproduction is authorised provided the source is acknowledged.
• Data Collection: The EBA processed and disclosed over 1.3 million data points during the 2015 transparency exercise, using centralised templates for the first time.

Conclusion

The EBA's 2015 activities focused on completing regulatory frameworks, enhancing supervisory convergence, improving risk assessment, and promoting consumer protection. The 2016 work plan includes the finalisation of regulatory reforms, the implementation of the revised Pillar 3 framework, and further efforts to ensure consistency in supervisory practices across the EU banking sector.