EBA欧洲银行-EBA-BS-2018-077rev1-28Final-Minutes-BoS-28-February-201829_11页_331kb

EBA BS 2018 077rev1 Summary

Core Content

The Board of Supervisors (BoS) of the European Banking Authority (EBA) convened on 28 February 2018 in London. The meeting covered a range of topics related to regulatory and supervisory activities, including internal reorganisation, reports on financial education, prudential backstops, FinTech, EUCLID implementation, and risk assessments. Key decisions were made on the approval of agendas, reports, and the establishment of task forces, with a focus on aligning activities with the European Commission's initiatives and ensuring effective supervision across the EU banking sector.

Main Points and Decisions

Agenda Item 1: Approval of Agenda

• The BoS approved the agenda for the meeting.
• Membership changes were noted:
  • Mariusz Hadjuk as new high-level alternate for the Polish Financial Supervision Authority.
  • David Forsman as new representative for the Swedish central bank.
  • François-Louis Michaud as new alternate for the ECB's Supervisory Board.
• A presentation on the scope and timeline for EBA's work on EU implementation of Basel III reforms was shared.
• The BoS was invited to discuss policy options at the 18-19 April meeting.

Agenda Item 2: Update on EBA Internal Reorganisation

• The EBA is simplifying its structure to reflect evolving priorities and retain staff.
• Resources are being reallocated, with functions integrated across units.
• The relocation project is progressing, with premises in Paris shortlisted.
• The EBA is exploring synergies with ESMA and EUISS.
• The Management Board is being regularly updated on relocation progress.

Agenda Item 3: Renewal of Banking Stakeholder Group (BSG)

• The BoS was asked to approve the renewal process for the BSG.
• Adjustments were made to the call for expression of interest, including reference to investment firms and the UK leaving the EU.
• The BoS approved the renewal process.

Agenda Item 4: EBA Financial Education Report 2017/18

• The report focused on financial literacy initiatives within the EBA's consumer protection mandate.
• Members praised the report and supported its publication.
• A request was made for an English translation of the executive summary.
• The Standing Committee on Consumer Protection and Financial Innovation (SCConFin) was tasked with exploring ways to enhance coordination and sharing of best practices.

Agenda Item 5: Technical Advice on Statutory Prudential Backstops for NPEs

• The EBA presented a report on the impact of the Commission's proposal on statutory prudential backstops for non-performing exposures (NPEs).
• The report used existing data due to time constraints.
• The ECB highlighted methodological differences and suggested using weighted averages instead of simple averages.
• Members expressed caution about interpreting the results due to heterogeneity and assumptions.
• The EBA was instructed to include caveats in the report, particularly regarding the capital impact being an upper bound.
• The BoS requested the report to be published on 13 March 2018.

Agenda Item 6: EBA Report on Credit Risk Mitigation (CRM) Framework

• The report was part of the regulatory review of the IRB approach and submitted to the Commission.
• The EBA proposed guidelines on CRM under the A-IRB approach.
• Members supported the report and suggested further alignment with Basel standards and involvement of SCARA.
• The BoS approved the report, with conditions on ECB approval.

Agenda Item 7: Proposed EU-wide Transparency Exercise

• The 2018 transparency exercise would follow a similar process to 2016 and 2017.
• The timeline was adjusted to avoid overlap with the 2018 EU-wide Stress Test.
• Final templates were to be completed by April and submitted to the BoS for approval by the 18-19 April meeting.
• The BoS approved the proposed timeline.

Agenda Item 8: Update on Risks and Vulnerabilities

• The CET1 and NPL ratios showed improving trends.
• Brexit-related risks had stabilized, with EU27 banks reducing direct exposures to the UK.
• Contingency plans for Brexit were assessed, though not a priority for many banks.
• Members suggested a more forward-looking approach, including a cyber risks register.
• The EBA confirmed that interest rate effects would be considered in the 2018 stress tests.

Agenda Item 9: Discussion on Brexit-related Issues

• A discussion took place without UK representatives due to their absence.

Agenda Item 10: Draft Consultation Paper on FinTech Guidelines

• The EBA proposed a roadmap based on the Discussion Paper and Commission's Action Plan on FinTech.
• Members supported the publication but requested adjustments, such as focusing on FinTech-specific priorities, considering virtual currencies, and linking with international initiatives.
• The Chairperson noted that regulatory coverage of virtual currencies should be cautious due to their heterogeneity.
• The roadmap would be adjusted before final approval.

Agenda Item 11: Reports from Standing Committees

• The BoS took note of reports from the Standing Committees.

Agenda Item 12: Annual Report on Assessment of Functioning of Colleges 2017

• The report assessed the functioning of 20 closely-monitored colleges.
• A request was made to remove MREL assessment from the 2018 key topics, as it would be handled by resolution colleges.
• The BoS adopted the report and planned to publish it with the 2018 EBA Colleges Action Plan.

Agenda Item 13: AoB (Other Business)

• An oral update on supervisory convergence and equivalence assessments was provided.
• The EBA invited cooperation with the European Court of Auditors for the 2016 stress test audit.
• The EBA also provided updates on online training and its 2017 achievements.

Key Information and Outcomes

• The EBA is working closely with the European Commission on Basel III reforms, with a focus on aligning timelines and scope.
• Internal reorganisation and relocation are ongoing, with a focus on efficiency and staff retention.
• The BSG renewal process was approved, with some adjustments to the call for interest.
• The financial education report was approved, with a request for translation and coordination improvements.
• The report on statutory prudential backstops for NPEs was approved with caveats and a focus on weighted averages.
• The CRM report was approved, with a call for alignment with Basel standards and involvement of SCARA.
• The transparency exercise timeline was approved.
• Risk assessments highlighted improving banking metrics and Brexit-related considerations.
• The FinTech roadmap was supported but will be adjusted based on feedback.
• The annual report on colleges was approved, with a focus on moving MREL assessment to resolution colleges.
• The BoS supported various EBA initiatives and reports, with a strong emphasis on transparency, coordination, and caveats in the interpretation of results.