EBA欧洲银行-EBA-2014-Work-Programme_11页_390kb

EBA Work Programme 2014 Summary

Core Functions and Objectives

The European Banking Authority (EBA) outlines its core functions and objectives in the 2014 Work Programme, which includes:

• Regulation: Playing a central role in developing the single rule book to ensure a level playing field and enhance the quality of financial regulation.
• Oversight: Identifying, analysing, and addressing key risks in the EU banking sector to support effective supervision and market discipline.
• Consumer Protection: Enhancing the protection of banking consumers by promoting transparency, simplicity, and fairness in financial products and services.
• Policy Analysis and Coordination: Providing internal and external policy coordination, legal review, and impact assessment of the EBA's policy proposals.
• Support Functions (Operations): Ensuring the EBA can perform its core functions through efficient administrative, financial, and IT operations.

Main Tasks and Prioritisation

The EBA prioritises its tasks based on the following criteria:

• Priority 1: Tasks derived from legislative proposals with deadlines in 2014, tasks considered most urgent for achieving objectives, and tasks that align with available human and financial resources.
• Priority 2: Less urgent tasks that do not interfere with Priority 1 objectives, and tasks that can be triggered externally.
• Priority 3: Tasks with the least urgency, which can be addressed in the medium or long term.

Regulatory Focus

The EBA's regulatory work in 2014 is primarily focused on the CRDIV/CRR legislation, which entered into force in summer 2013 and applies from 1 January 2014. This legislation aims to strengthen bank capital requirements, introduce capital buffers, and establish new prudential rules on liquidity and leverage. The EBA is responsible for producing 48 Regulatory Technical Standards (RTS), 23 Implementing Technical Standards (ITS), 7 Guidelines, and 9 Reports, among other deliverables, all with deadlines in 2014.

Key areas of regulatory focus include:

• Credit Risk: Development of technical standards and guidelines, including IRB models and credit risk mitigation.
• Market Risk: Work on CVA (credit value adjustment) and other market risk-related standards.
• Liquidity and Leverage: Continued work on definitions for high-quality liquid assets (HQLA), liquidity coverage ratio, and leverage ratio.
• Recovery and Resolution: Preparatory work for the Recovery and Resolution Directive (RRD) and the Deposit Guarantee Schemes Directive (DGS), including the development of technical standards and guidelines on resolution plans, recovery plans, bail-in, and MREL (Minimum Requirement for Own Funds and Eligible Liabilities).

Oversight Activities

The EBA's oversight activities aim to:

• Deliver independent, high-quality analysis of EU banks and the banking sector.
• Ensure sound data is available for effective supervision and market discipline.
• Promote convergence in supervisory practices and a common supervisory culture across the Single Market.
• Monitor and improve supervisory cooperation through colleges and ensure consistency in the application of the single rule book.

In 2014, the EBA will:

• Monitor capital levels and capital plans to converge towards new standards.
• Conduct thematic analyses on risk-weighted assets (RWAs), sustainability of business models, and asset quality.
• Prepare regular reports and updates for the ESRB and EU institutions.
• Develop key risk indicators and risk dashboards for internal and cross-border analysis.

Consumer Protection and Financial Innovation

The EBA is committed to promoting consumer protection and financial innovation, focusing on:

• Enhancing transparency, simplicity, and fairness in consumer financial products and services.
• Supporting the Mortgage Credit Directive (MCD) by drafting a Regulatory Technical Standard (RTS) on professional indemnity insurance.
• Contributing to the proposed Bank Account Package and review of the Payment Services Directive (PSD), including guidelines on customer authentication, security measures, and handling of major incidents.
• Addressing the phenomenon of "self-placement" of financial instruments by banks to retail depositors.
• Organising a Consumer Day in collaboration with ESMA and EIOPA in summer 2014.

Operations

The EBA will focus on improving its operational efficiency in 2014, including:

• Finance: Implementing Activity Based Management and aligning financial regulations with the new EU framework.
• Human Resources: Enhancing HR policies in line with the Staff Regulations.
• Procurement: Monitoring and executing all procurements as outlined in the 2014 Procurement Plan.
• Communications: Enhancing the EBA website and media presence.
• IT: Implementing IT projects such as data collection, reporting, and analysis platforms, and a document management system.

Legal Support

The Legal Unit provides legal analysis and advice on all EBA policy and supervisory documents, ensuring a legally sound environment. In 2014, it will:

• Strengthen the institutional legal framework through negotiation, drafting, and implementation of agreements and contracts.
• Monitor and implement legislative instruments applicable to the EBA.
• Support ongoing obligations under Regulation (EU) No 45/2001 and Regulation (EU) No 1049/2001.

Banking Union and SSM Developments

The establishment of the Single Supervisory Mechanism (SSM) significantly impacts the EBA's work. The EBA will:

• Ensure effective cooperation with the ECB and other competent authorities.
• Develop the Single Supervisory Handbook to support unified supervisory methodologies.
• Focus on the technical standards and guidelines for recovery and resolution, including early intervention, resolution triggers, and bail-in mechanisms.
• Strengthen the role of mediation in the context of the SSM, with the aim to coordinate actions among national authorities during adverse developments or crises.

Policy Analysis and Coordination

The Policy Analysis and Coordination Unit is responsible for:

• Coordinating internal and external policy efforts.
• Providing legal review and impact assessment of the EBA's policy proposals.
• Supporting the EBA's chairmanship of the Joint Committee of the ESAs.
• Coordinating supervisory training and stakeholder engagement, including the Banking Stakeholder Group and the Review Panel.

Conclusion

The EBA's 2014 Work Programme is characterised by a high concentration of tasks, particularly in the development and implementation of the single rule book. The EBA is expected to deliver a significant number of technical standards, guidelines, and reports, with a strong emphasis on regulatory consistency, risk management, consumer protection, and the functioning of the banking union. The EBA will also continue to enhance its internal operations, legal framework, and stakeholder coordination to support its mandate effectively.