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EBA Management Board Meeting Summary - 23 January 2018

Core Content

The EBA Management Board (MB) meeting on 23 January 2018 covered a range of administrative, operational, and strategic topics, including budget execution, IT projects, governance arrangements, relocation to Paris, and Brexit-related preparations. The meeting also addressed the renewal of the Banking Stakeholder Group (BSG) and the update of outsourcing guidelines.

Main Points and Key Information

Agenda Item 1: Approval of Agenda and Minutes

• The MB approved the provisional agenda and the minutes of the previous meeting (15 November 2017).

Agenda Item 2: Administrative and Operational Status Report

• Budget Execution: Achieved 95.9% in 2017 and 98% in the carry-over from 2016.
• Procurement and Establishment Plan: 2017 procurement plan was fully achieved; 134 temporary agent positions were filled by year-end.
• IT Data Centre Relocation: Proposed to move IT data centres to Paris by 2018; current provider will cease services by end-2019; a new procurement procedure will be launched in 2019.
• Gender Balance: No formal policy on gender balance for managerial positions, but a good overall balance was noted.

Agenda Item 3: Overview of Current EBA's IT Projects

• IT projects were presented separately to enhance transparency.
• A secured email platform was being developed in collaboration with the ECB and Bank of Spain to improve communication security with competent authorities (CAs).
• Projects with minimal investment were excluded from the overview.

Agenda Item 4: Agile Project Methodology

• The MB approved the Agile IT Project Management Methodology (PMM), which would complement the existing methodology.
• Agile PMM would cover the entire project lifecycle and be introduced through a pilot project.
• No impact on current procurement contracts or additional costs were expected.

Agenda Item 5: Update on EUCLID Project Implementation

• A new Task Force on EUCLID Implementation (TFEI) was proposed to improve coordination.
• TFEI would report directly to the Board of Supervisors (BoS) and handle technical aspects.
• Governance arrangements were to be streamlined to enhance internal resource coordination.
• The EBA was advised to review the language of the governance note to ensure clarity on internal organisation and project management.

Agenda Item 6: EBA Relocation Status Report

• The relocation to Paris was ongoing, with the main issue being the selection of premises.
• The French authorities had offered two buildings, but market prospecting was still under consideration.
• A property advisor was being hired to assist with the selection process.
• Synergies with ESMA were encouraged, and the EBA would seek clarification on the financial subsidy terms from the French Treasury.
• The fit-out of premises was planned to start by summer 2018 to ensure operational readiness by end-March 2019.

Agenda Item 7: Proposal for Filling Two BSG Positions

• A proposal to renew two BSG members in the 'consumers' category was supported by the MB and submitted for BoS approval.

Agenda Item 8: Call for Interest for BSG Renewal

• The MB supported the updated Call for Interest, which included:
  • Investment firms under the 'credit and financial institutions' category.
  • Broader publication.
  • Removal of the EU nationality requirement.
• A greater gender balance was requested.
• The category 'top-ranking academics' was slightly modified to require independence from credit and investment institutions.
• The Commission representative mentioned potential revisions to the requirement of 'operating in the Union' due to Brexit considerations.

Agenda Item 9: Roadmap of EBA's Work on Brexit

• The EBA would start preparatory work at Standing Committee and subgroup levels in an EU27 format.
• The MB welcomed the presentation and aligned with previous BoS-level discussions.
• The Commission noted that a transitional deal would be confirmed in the withdrawal agreement and that notices on Brexit consequences would be published in case of no agreement.

Agenda Item 10: EBA's Proposal on Outsourcing Guidelines

• The MB supported a broader scope for the updated CEBS outsourcing guidelines, including:
  • Application to investment firms.
  • Inclusion of prudential issues like concentration risk.
  • Back-to-back transactions as part of intragroup outsourcing.
  • Removal of the reference to outsourcing to branches.
• Proportionality and a consultation paper were requested, with the goal of publishing it before summer 2018 and final adoption by end-2018.

Agenda Item 11: Provisional Agenda for BoS Meeting (28 February 2018)

• Members requested discussions on:
  • The timely implementation of Basel Committee standards.
  • Cryptocurrencies, considering the EBA's previous opinion from July 2014.
• The Joint Committee of the ESAs would address cryptocurrencies in early February, with the BoS to be informed.
• The EBA would start preparatory technical work on the topic.

Agenda Item 12: Any Other Business (AoB)

• No matters were discussed under AoB.

Conclusion

The MB meeting concluded with several key decisions and approvals, including the Agile PMM, the BSG renewal proposal, and the updated outsourcing guidelines. The EBA also committed to seeking clarity on the financial subsidy terms for the relocation and to prepare a comprehensive document on outsourcing scenarios. The meeting emphasized transparency, coordination, and alignment with EU regulatory objectives.