EBA欧洲银行-EBA-BSG-2013-76-28Minutes-BSG-10-December-201329_12页_254kb

EBA Banking Stakeholder Group Meeting Summary – 10 December 2013

Core Content

The EBA Banking Stakeholder Group (BSG) held a meeting on 10 December 2013, covering a range of topics related to the EBA's regulatory and oversight developments, working group structures, and stakeholder engagement. The meeting was attended by various BSG members representing different sectors such as consumers, credit and investment institutions, and top-ranking academics, alongside EBA staff and board members.

Main Views and Key Information

Agenda Item 1: Welcome and Approval of the Agenda

• The meeting was opened with a welcome from the BSG Chairperson and the EBA Executive Director.
• The EBA Executive Director apologised for the absence of the EBA Chairperson due to an EU Institution meeting.
• The minutes of the 30 October 2013 meeting were approved with minor editorial changes and will be uploaded to the EBA's public website.

Agenda Item 2: BSG Chairperson Update on Working Group Structure

• The BSG Chairperson discussed the proposed structure of working groups to align with the EBA's workflow.
• A Policy Research Workshop on systemically important institutions was held in November 2013, which was considered very informative.
• The BSG established three Standing Technical Working Groups (STWGs) and selected coordinators:
  • Capital and Risk Analysis Working Group: Louise Lindgren
  • Recovery, Resolution and Systemic Issues Working Group: Santiago Fernandez de Lis
  • Consumer Issues and Financial Innovation Working Group: Robin Jarvis
• BSG members were encouraged to consider joining these groups or suggesting new Ad Hoc Working Groups on topics such as leverage ratio or proportionality.

Agenda Item 3: Banking Stakeholder Composition – Ombudsman Complaint

• The EBA responded to the European Ombudsman's decision on a complaint regarding the composition of the BSG.
• The EBA is preparing a response to the Ombudsman by 30 April 2014, but it will not affect the current BSG composition.
• The UNI Europa Finance representative suggested that the BSG should have three employee representatives for balanced representation, though the EBA acknowledged the challenge in meeting all objectives within the given constraints.

Agenda Item 4: Regulatory and Oversight Developments

• The EBA Executive Director provided an update on the implementation of stress testing guidelines and the upcoming 2014 stress testing exercise.
• A report on liquidity definitions was due by 31 December 2013 and will be published, with the European Commission having the final say on policy options.
• The EBA is also working on the Risk Assessment Report, which outlines current risks in the EU banking sector, including:
  • Returning confidence and fragile global markets
  • Institutional reforms and banking union
  • Uncertainties about asset quality and the need for AQRs
  • Profitability concerns and reputation risk
• BSG members suggested that the report could be more region-specific and noted issues such as governance and compensation in relation to benchmark fixing and consumer impact.

Agenda Item 5: EBA's Regulatory Work Under Development

• Guidelines on Non-Viability and Resolvability (B-point):
  • The EBA is developing guidelines for interpreting "failing or likely to fail", based on the draft BRRD.
  • Resolution triggers require three conditions to be met, and resolvability assessments will be an iterative process with a focus on avoiding public financial support.
  • BSG members suggested a single point of entry for European banks and called for clearer definitions of Pillar 2 capital.
• Bilateral Margining:
  • The EBA is working on margin requirements for non-centrally cleared OTC derivatives, with open questions on eligible collateral, re-use of margin, and timing.
  • Variation margin collection will apply to new contracts from 01 December 2015, with initial margin collection phased in until 01 December 2019.
• Consumer Protection:
  • The EBA is preparing a Consumer Trends Report and working on guidelines for complaints handling, professional indemnity insurance for mortgage intermediaries, and a warning on virtual currencies.
  • The BSG provided feedback on consumer issues, with the top six topics being:
    • Mis-selling of products (14)
    • Financial advice (14)
    • Household borrowing (12)
    • Consumer trust and confidence (11)
    • Financial literacy (9)
    • Bank account fees and switching (8)

Agenda Item 6: Joint BSG/BoS Meeting

• The agenda for the following day's joint meeting with the EBA's Board of Supervisors (BoS) was outlined.
• Suggestions were made for improving collaboration, such as using break-out sessions and common dinners between BSG and BoS members.
• The BSG will also propose topics for the BoS, including retail risk indicators, leverage ratio, and governance.

Agenda Item 7: Next Meetings

• The BSG was reminded of the 2014 meeting dates, as previously communicated.

Agenda Item 8: Other Business (AOB)

• The BSG Chairperson asked members to avoid sending unnecessary email messages to the group.
• Members were invited to suggest agenda items for future meetings to both the BSG Chairperson and EBA Staff.

Conclusion

The meeting focused on enhancing the BSG's role in shaping EBA's regulatory and oversight activities. It highlighted the importance of stakeholder engagement, the development of working groups, and the need for clear and balanced representation. Additionally, the EBA is working on several key regulatory topics, including stress testing, liquidity definitions, consumer protection, and bilateral margining, with BSG input being crucial for the final guidelines and reports.