EBA欧洲银行-EBA-BS-2016-139rev1-28Final-Minutes-BoS-19-20-April-201629_12页_317kb

EBA Board of Supervisors – Final Minutes Summary (19–20 April 2016)

Core Content

The EBA Board of Supervisors (BoS) meeting held on 19–20 April 2016 in London covered a range of topics related to regulatory and supervisory matters, including leverage ratio (LR) calibration, risk weights for specialised lending exposures, responses to the Panama Papers, and various guidelines and reports. The meeting aimed to align supervisory approaches, address regulatory uncertainties, and support the European Commission's initiatives in the context of the Capital Requirements Regulations (CRR) and related frameworks.

Main Topics and Key Points

Agenda Item 2: Welcome, Approval of Agenda and Minutes

• The meeting was opened by the Chairperson, Andrea Enria.
• The BoS approved the agenda and the minutes from the previous meeting (04 February 2016).
• The EBA received two calls for advice from the European Commission on net stable funding requirements (NSFR) and the revision of own fund requirements for market risk.

Agenda Item 3: Preliminary Results of the Draft Final Report on Leverage Ratio Calibration

• The preliminary results of the LR calibration report were presented, suggesting a 3% calibration level.
• Members generally welcomed the 3% level, advocating for consistency and minimising exemptions.
• Key discussions:
  • Higher calibration for G-SILs: A majority supported the idea, but some called for further consideration, including BCBS developments and potential extension to O-SILs.
  • Differentiation for public development and mortgage banks: Some members supported this, but the majority preferred a simplified approach.
  • CCPs and CSDs: Views were split on whether the LR should apply, with suggestions for further details and transitional arrangements.
• The EBA was instructed to provide further details on possible waivers for CCPs and CSDs and to table the final report at the BoS meeting of 20–21 June 2016.

Agenda Item 4: EBA Opinion on the RTS on Additional Collateral Outflows for Derivative Contracts

• The EBA proposed to amend the RTS to align the historical look back approach (HLBA) with the BCBS approach.
• The BoS adopted the Opinion, with a small amendment to remove a paragraph on the endorsement process by the Commission.

Agenda Item 5: Final Draft RTS on Risk Weights for Specialised Lending Exposures

• The final draft RTS on assigning risk weights to specialised lending exposures was submitted for approval.
• A 60% cap on the weight assigned to each factor was suggested, though some members called for a review of its impact.
• The "remaining maturity" of Article 153(5) of the CRR was discussed, with the EBA asked to clarify its interpretation.
• The BoS agreed to submit the draft for written approval within two weeks, allowing time to incorporate Commission Legal Service comments and the cap suggestion.

Agenda Item 6: Follow-up to the BCBS Meeting on 9–10 March

• The EBA proposed to reprioritise its work programme on market and operational risk based on BCBS reforms.
• Members supported the quantitative impact study (QIS) and called for meaningful analysis per business model and for Standardised Approach users.
• The EBA was encouraged to develop own-initiative Guidelines on the treatment of structural exchange rate under Article 352(2) of the CRR, though caution was advised due to technical complexities.
• The BoS agreed to a comprehensive QIS sample and to discuss the final sample at the 20–21 June meeting.

Agenda Item 7: Discussion on Sovereign Risk

• The EFC High-Level Working Group on Sovereign Exposures was expected to conclude its work by summer 2016.
• Members discussed the regulatory treatment of sovereign exposures, noting the macroprudential implications and the importance of concentration.
• The EBA was to continue informing the BoS on the working group’s discussions.

Agenda Item 8: Supervisory Reaction following the Panama Papers

• The EBA asked for coordinated supervisory action in response to the Panama Papers.
• Some members cautioned that insufficient information was available to draw conclusions.
• A roundtable was suggested to share experiences and approaches among competent authorities (CAs).
• The BoS agreed to organise a follow-up discussion once initial findings emerged and to collect concerns and findings from CAs.

Agenda Item 9: Discussion on Risks

• The EBA Head of Risk Analysis presented an overview of risks and vulnerabilities in the European banking sector.
• AT1 instruments and their impact on profitability and asset quality were discussed.
• A transparency exercise was proposed for 2016, to be conducted annually alongside the Risk Assessment Report (RAR).
• Concerns were raised about data inconsistency and the exclusion of LR and sovereign data in the 2016 exercise.
• The EBA confirmed that sovereign data would be included in future exercises, starting with 2017, and LR data would be available from end-2016.

Agenda Item 10: Follow-up on the Commission's Note on Pillar 2

• The Commission proposed to review Pillar 2 requirements and guidance.
• Members agreed that Pillar 2 requirements should cover risks not addressed by Pillar 1, while guidance needed clarification on forward-looking risks and enforcement mechanisms.
• A Recommendation to CAs was proposed to clarify the rationale for Pillar 2 capital guidance and its consequences.
• The Subgroup on Own Funds was tasked with investigating AT1 instrument treatment.

Agenda Item 11: ECAI – EBA Decision on the Use of Unsolicited Ratings

• The EBA confirmed that unsolicited ratings from ECAIs did not differ in quality from solicited ratings.
• A report on the analysis of ECAIs was presented and adopted by the BoS.

Agenda Item 12: Draft Consultation Paper on RTS on Disclosures of Unencumbered Assets

• The EBA proposed a consultation paper on the disclosure of encumbered and unencumbered assets.
• The objective was to harmonise definitions and ensure transparency for market participants.
• The consultation paper was adopted by the BoS.

Agenda Item 13: Final Guidelines on DGS Stress Testing

• Final guidelines on stress testing deposit guarantee schemes (DGS) were adopted.
• These guidelines set out minimum indicators for assessing DGS performance in operational and financial contexts.

Agenda Item 14: Stress Test 2016

• CAs had collected non-recurrent adjustments to the stress test methodology.
• The EBA requested a final review of these adjustments, especially those with small impact.
• The BoS agreed that CAs would reassess the adjustments, with the STTF reviewing major ones.
• The final publication would identify banks with non-recurrent adjustments, and the BoS would make a final decision by written procedure.

Agenda Item 15: Report on Supervisory Response to Conduct Risk

• A report on supervisory approaches to conduct risk was presented.
• While praised for its comprehensiveness, members expressed concerns about data comparability and quality.
• The report was not published, but a section on conduct risk would be included in the Supervisory Convergence Report.

Agenda Item 16: Reports from Standing Committees

• The BoS took note of reports from the Standing Committees, including SCRePol and TFIS.

Agenda Item 17: AoB (Agenda for the Board of Supervisors)

• The Management Board suggested topics for the BoS away day meeting on 7–8 July 2016, including:
  • FINTECH and digital banking
  • NPLs and profitability
  • Impact of the UK referendum on EU membership and supervisory convergence
• Members were invited to suggest additional topics and potential speakers.

Conclusion

The BoS meeting concluded with a series of decisions and recommendations to be implemented by the EBA, including:

• Adopting the preliminary findings on LR calibration.
• Submitting the draft RTS on risk weights for specialised lending exposures for written approval.
• Developing a Recommendation on Pillar 2 requirements and Guidelines on structural exchange rate treatment.
• Organising a transparency exercise starting in 2016.
• Reassessing non-recurrent adjustments and conduct risk events.
• Continuing to monitor the EFC High-Level Working Group on sovereign exposures.
• Preparing for the BoS away day meeting in July 2016.

The meeting underscored the importance of consistency, transparency, and coordination among competent authorities in supervisory and regulatory activities.