EBA欧洲银行-2017-EBA-Annual-Report_108页_9mb

EBA 2017 Annual Report Summary

Core Content

The 2017 Annual Report of the European Banking Authority (EBA) outlines the organisation's activities, achievements, and future priorities in the context of evolving regulatory frameworks, financial sector challenges, and the impact of Brexit. The report highlights the EBA's role in maintaining the integrity of the Single Rulebook, promoting convergence in supervisory practices, supporting financial innovation, and ensuring consumer protection across the European Union.

Main Achievements in 2017

Playing a Central Role in the Single Rulebook

• The EBA contributed to the development and maintenance of the Single Rulebook for banking.
• It was involved in the regulatory review of the IRB (Internal Ratings Based) Approach.
• The organisation worked on reforming risk-based metrics and advancing the Capital Markets Union (CMU) initiative.
• It assessed the impact of IFRS 9 on banks across the EU and enhanced the framework for prudential consolidation.

Regulatory Perimeter and Authorisation Process

• The EBA assessed and monitored the regulatory perimeter and enhanced consistency in the authorisation process.
• It finalised the resolution Single Rulebook, which is a key component of the Bank Recovery and Resolution Directive (BRRD).
• The EBA promoted convergence of supervisory practices and ensured their consistent implementation across the EU.

Supervisory Methodologies

• The organisation enhanced supervisory methodologies and policies related to the Supervisory Review and Evaluation Process (SREP).
• It conducted assessments of supervisory convergence and monitored the implementation of the recovery planning framework.
• The EBA assessed third countries' equivalence, particularly in light of Brexit.

Training and Education

• The EBA launched training programmes and workshops, which have seen a steady increase in participation since 2011.
• It developed an online training platform and expanded its data infrastructure to support these efforts.

Financial Innovation and Consumer Protection

• The EBA focused on ensuring secure, easy, and efficient payment services across the EU.
• It supported the implementation of the Revised Payment Services Directive (PSD2), which entered into force in January 2018.
• The organisation prepared 13 Technical Standards and Guidelines to support the new directive and balanced technological neutrality with the integration of the Single Market.

Key Areas of Focus for 2018

• Credit Risk Modelling: The EBA will continue to work on credit risk models and their implementation.
• Basel III Implementation: It will prepare for the full implementation of Basel III, which includes the Fundamental Review of the Trading Book (FRTB).
• Non-Performing Loans (NPLs): The EBA will further work on NPLs, including developing tools and templates to help banks manage and reduce them.
• EU-Wide Stress Test and Transparency Exercise: It will conduct the 2018 EU-wide stress test and transparency exercise.
• Third-Country Equivalence: The EBA will strengthen its role in assessing third-country equivalence, especially due to the impact of Brexit.
• FinTech Roadmap: It will implement its FinTech roadmap, which includes a timeline for future initiatives and collaboration with regulators and financial institutions.
• Data Infrastructure: The EBA will expand its data infrastructure, including the development of the European Centralised Infrastructure for Supervisory Data (EUCLID).
• Consumer Protection and Innovation: The EBA will focus on upgrading consumer protection instruments to reflect new technological realities and ensure sustainable finance.

Brexit Impact and EBA Response

• Brexit has introduced significant uncertainty for the EU financial sector, particularly regarding the future of the UK's financial services.
• The EBA has taken steps to prepare for Brexit, including assessing financial stability risks, monitoring the adaptation of the EU industry, and issuing opinions on minimum EU standards for national authorities.
• The relocation of the EBA from London to Paris has added new challenges, including ensuring business continuity, managing staff turnover, and preparing for the migration of data centre infrastructure.
• The EBA has been working closely with French authorities to support the relocation process and has initiated French language training for its staff.

International Engagement

• The EBA contributed to the development of global banking standards and participated in international policy-making and coordination efforts.
• It engaged with the Financial Stability Board (FSB) and other international bodies to promote consistency and cooperation in banking supervision.

Cross-Sectoral Work with ESAs

• The EBA collaborated with the European Supervisory Authorities (ESAs) under the Joint Committee to address cross-sectoral risks.
• It worked on the fight against money laundering and terrorist financing, as well as consumer protection and financial innovation.
• The EBA also supported the work of the European Systemic Risk Board (ESRB) and the Single Supervisory Mechanism (SSM) in promoting a level playing field across the EU.

Conclusion

The EBA remains a crucial player in shaping the regulatory landscape of the European banking sector. Its efforts in promoting convergence, enhancing transparency, and supporting innovation are essential for the stability and growth of the financial market. The challenges posed by Brexit have reinforced the need for closer cooperation between the EBA and other EU financial authorities, and the organisation is committed to adapting to these changes while maintaining its core functions.