EBA欧洲银行-EBA-BSG-2015-083-Draft-Minutes26-October-Meeting_12页_238kb

EBA Banking Stakeholder Group Meeting Summary – 26 October 2015

Core Content

The EBA Banking Stakeholder Group (BSG) held a meeting on 26 October 2015 in London. The session covered a range of topics, including updates on BSG activities, EBA's regulatory work, and discussions on proportionality, stress tests, consumer protection, and whistleblowing. The meeting aimed to align the BSG with the EBA's strategic priorities and to provide input on key regulatory issues.

Main Agenda Items and Key Points

Agenda Item 1: Welcome and Approval

• The BSG Chairperson welcomed new members appointed since the June 2015 meeting.
• Minutes and agenda of the previous meeting were approved.

Agenda Item 2: BSG Update on Developments

A) BSG Chairperson's Update

• The BSG Chairperson proposed drafting an End of Term of Office Report (ETOR) for the second mandate.
• The BSG was tasked with responding to three EBA consultation papers:
  • EBA CP 2015 16: Allocated to Dominic Lindley.
  • EBA CP 2015 17: Unallocated, with members to decide whether to respond.
  • JC 2015 060/061: Allocated to Robert Priester and Nina Legend.

B) Amendments to BSG Rules of Procedure

• All proposed amendments were approved with one minor adjustment.
• An updated version of the BSG Rules of Procedure will be circulated and published on the EBA website.

C) Technical Working Groups' Activities

• The Technical Working Group on Capital and Risks Analysis suggested discussing the standardised approach for credit risk, with the Basel Committee expected to publish its final paper by year-end.
• The Technical Working Group on Consumer Protection and Financial Innovation highlighted its active role in the Proportionality Report and SMEs lending discussions.

D) BSG Report on Proportionality

• The report identified five areas where proportionality was not fully applied: objectives of regulation, totality of regulation, complexity, differentiation between credit institutions, and materiality.
• The report was presented as an input to the European Commission's Call for Evidence on the EU regulatory framework for financial services.
• BSG members raised concerns about the interpretation and application of proportionality, and the report was considered a balanced approach from a consumer perspective.

Agenda Item 3: EBA Update on General Developments

• The EBA Chairperson outlined the NSFR Report and work on internal models, noting the impact of IFRS 9 on capital.
• The EBA's 2016 Work Programme included the development of the Single Rulebook and continued focus on supervisory convergence and training.
• BSG members questioned the EBA on various topics, including internal models, remuneration, SREP Guidelines, securitisation, and the role of the EBA in payment services.
• The EBA highlighted its collaboration with the ECB on the Secure Pay Working Group.

Agenda Item 4: EBA Update on Consumer Protection and Financial Innovation

• The EBA staff provided updates on the Payment Accounts Directive (PAD), including the publication of ITS and RTSs.
• BSG members asked for clarification on the composition and format of Fee Information Documents (FID) and Statements of Fees (SoF), as well as consumer involvement and the use of common symbols.
• The EBA also discussed its Consultation Paper on Benchmark Rates and the PRIIPS work, focusing on risk indicators, performance scenarios, and costs.
• The topic of automation in financial advice was noted as a concern for consumers, with the EBA taking a balanced approach to assess both risks and benefits.

Agenda Item 5: EBA Update on Other Regulatory Products

A) Recovery and Resolution Matters

• The BSG working group on Recovery and Resolution provided an overview of the EBA's work under the Bank Recovery and Resolution Directive (BRRD).
• The EBA has addressed 22 consultation papers, and the BSG requested further clarification on contractual recognition and bail-in rules.

B) Draft Consultation Paper on CVA under SREP

• The EBA proposed guidelines on the treatment of CVA risk under SREP, following recommendations from the CVA report.
• The guidelines aim to determine the relevance and materiality of CVA risk, assess its impact, and set additional own funds requirements where necessary.

Agenda Item 6: Discussion on Whistleblowing

• The BSG discussed the need for improved protections for whistleblowers, particularly in cases where reporting to the CEO might be problematic.
• Examples of external reporting channels, such as encrypted websites and confidence committees, were presented.
• The EBA has not issued specific guidelines on whistleblowing yet and is considering how to add value in this area.

Key Information

• The BSG and EBA are working closely on various regulatory issues, including proportionality, capital requirements, and consumer protection.
• The EBA is focused on developing a Single Rulebook and enhancing supervisory convergence.
• BSG members emphasized the importance of proportionality and the need for clarity in regulatory application.
• The 2016-wide Stress Test was outlined, with a static balance sheet approach and a timeline from February to July 2016.
• The EBA is seeking input from BSG members on its regulatory products, including the Consumer Trends Report and CVA guidelines.

Participants

• BSG Members: Representing credit institutions, consumers, SMEs, and top-ranking academics.
• EBA Staff: Including Andrea Enria (Chairperson), Adam Farkas (Executive Director), and other EBA officials.

Conclusion

The meeting was a comprehensive overview of the BSG's role in shaping regulatory developments and enhancing supervisory practices. It emphasized the importance of proportionality, clarity in regulatory implementation, and collaboration between the BSG and EBA to ensure effective and consistent supervision across the EU.