EBA欧洲银行-EBA-BS-2011-210-PUBLICEBA-minutes-BoS-7-8-Dec-2011-_12页_310kb

Summary of the Sixth EBA Board of Supervisors Meeting

Date: 7-8 December 2011
Location: Tower 42, London

Core Content

The sixth EBA Board of Supervisors meeting took place over two days, focusing on various topics including the implementation of recommendations, guidance on regulatory frameworks, crisis management, and the development of a 2012 work programme. The meeting aimed to align the EBA with the broader European Supervisory Authorities (ESAs) and coordinate with national supervisors (NSAs) and other regulatory bodies.

Main Points and Key Information

Agenda Item 1: Welcome and Approval of Agenda and Minutes

• The meeting was opened by the Chair, Andrea Enria, who welcomed new alternate members: Aldona Jociene (Lithuania) and Mary Burke (Ireland).
• The agenda and minutes were approved.

Agenda Item 2(i): EBA Recap Recommendation

• The Board approved the Recommendation with minor amendments to recital 5, paragraph 3(b) and footnote 7.
• EBA Staff will finalize the text incorporating agreed points.
• A 2-month deadline for compliance was noted, but NSAs were urged to notify the EBA of compliance issues before Christmas.
• The EBA will support home/host discussions and may activate mediation tools where necessary.
• Additional Q&A on capital requirements, Basel 2.5, and sovereign buffers will be drafted.
• Templates for monitoring the Recommendation will be circulated, with NSAs given time to comment.

Agenda Item 2(ii): Implementation Guidance on BCCS

• The Board decided to give members a week to comment on the BCCS guidance.
• Comments will be forwarded to SCRePol.

Agenda Item 2(iii): Risks and Vulnerabilities

• The Chair of SCOP highlighted vulnerabilities and stressed the need for consistent implementation of the Recommendation.
• The EBA should develop a code of conduct to outline its role in crisis management and address cross-border implications.
• Concerns were raised about national authorities acting without proper consultation in cross-border groups.

Agenda Item 3: Proposed EBA Approach for JC on BoS Voting

• The Board agreed to align voting procedures across ESAs and in their Regulatory Opinions (RoPs).
• Abstentions and no-votes should not be treated as approvals.
• Only the results of votes will be published in the minutes; individual votes will be communicated internally.
• The Chair will bring the issue back to the Board in February after discussions with the Joint Committee (JC).

Agenda Item 4: CP on ITS for Supervisory Reporting

• The extension of FINREP to non-IFRS banks on a solo basis was postponed.
• The EBA will focus on consolidated reporting for now, with a note on proportionality issues.
• The timeline for solo application, if applicable, will need to be extended.
• A revised CP will be released before Christmas after further comments.

Agenda Item 5: Accomplished College Action Plan 2011 and CAP 2011

• Colleges should narrow their scope, focus on substance, and consider crisis management.
• EBA will identify and develop best practices for recovery and resolution plans.
• The EBA will review and update the list of colleges under CRD, including their status and format.
• Links to the FSB will be improved, and EBA will seek an observer seat.
• The US authorities are a concern for EBA participation in FSB Crisis Management Groups.

Agenda Item 6: Emergency Situations

• The EBA will prepare a paper for the February Board on coordinating actions in emergencies.
• EIOPA's interim monitoring group will be referenced.
• A legal note on the ESAs' role in emergencies will be submitted by one member's lawyers.

Agenda Item 7: EBA 2012 Work Programme

• The proposed work programme was approved, with peer review and RWA assessments upgraded to priority 1.
• A letter to the Commission was approved, with a clarification that it represents the EBA Staff view.
• The Chair will request 2/3 national expert volunteers to assist on individual BTS.

Agenda Item 8: EU-wide Stress Test

• The 2012 stress test was postponed to at least Q3 2012.
• The 2011 recommendations will be followed up proportionately.
• The own funds group and dynamic provisions will be considered in future stress tests.

Agenda Item 9: ESRB Update

• ESRB recommendations to EBA and NSAs must be discussed by the Board.
• EBA is legally required to provide firm-specific data to ESRB, following specific procedures.

Agenda Item 10: Developing a More Consistent RWA Assessment Framework

• The Board supported efforts to create a level playing field in model risk, coordinating with the Basel Committee.
• Focus should be on non-sovereign entities from the outset.

Agenda Item 11: Monitoring of Capital Issuances

• The Board supported 'full' illustrative option 3 (use of benchmarks) for monitoring capital issuances.
• EBA Staff will take forward this approach for implementation.

Agenda Item 12: Liquidity - Uniform Format and Instruction for Reporting of the LCR

• The Board agreed to start monitoring the Liquidity Coverage Ratio (LCR) using a proposed template, which will be voluntary initially and mandatory after CRD4.

Agenda Item 13: Report on Implementation of Guidelines on Operational Risk Management

• Implementation studies on CEBS 2010 guidelines were set to priority 3 due to resource constraints.
• Reports will be provided for internal information only, not published externally.

Agenda Item 14: SCFI Update

• The SCFI Report was approved for publication after final review.
• The draft EBA opinion on domain names '.bank' and '.fin' was approved and shared with other ESAs.

Agenda Item 15: Approval of EBA Draft 2012 Budget and Treatment of CEBS 2010 Accumulated Surplus

• The 2012 budget and treatment of CEBS 2010 surplus were approved.
• Alignment of observers' ESA contributions for 2013 was also approved.

Agenda Item 16: EBA 2012 Annual Training Programme

• The proposed training programme was approved.

Agenda Item 17: Reports from Committees

• Various progress reports were approved.
• A thematic study on Basel 3 implementation was requested for inclusion in Pillar 3 work.

Participants

• Chair: Andrea Enria
• Alternate Chair: Matthew Elderfield
• Voting Members and Alternates: Represented by national central banks (NCBs) and accompanying persons from 19 countries.
• Country Observers: Norway, Iceland, and Liechtenstein.
• Institutions Representatives: European Commission, ECB, ESRB, EIOPA, ESMA.
• EBA Staff: Adam Farkas (Executive Director), Piers Haben (Director Oversight), Isabelle Vaillant (Director Regulation), Peter Mihalik (Director Operations), Michelle Ewing and Joseph Mifsud (Legal).