EBA欧洲银行-EBA-MB-2014-051-28Final-Minutes-MB-9-April-201429_7页_445kb

EBA Management Board Final Minutes Summary - 09 April 2014

Core Content

The EBA Management Board (MB) meeting held on 9 April 2014 covered a range of administrative, operational, and strategic topics, including the approval of the agenda and minutes, the status of EBA's operations, budget decisions, stress testing strategy, reporting roadmap, and future planning.

Main Agenda Items and Conclusions

1. Opening and Approval of Agenda and Minutes

• The meeting was opened by the Chairperson, Andrea Enria.
• The agenda and minutes of previous MB meetings (22 January and 25 February 2014) were approved.

2. Administrative and Operational Status Report

• A comprehensive report was presented covering activities from 22 January to the present.
• Key areas included:
  • Finance: Budget execution for 2013 carried over to 2014.
  • Procurement: New contracts were launched.
  • Human Resources: Staffing levels aligned with the establishment plan, with vacancy notices published.
  • Training: Ongoing.
  • Press and Communication: Activities reported.
  • IT: Implementation of phases 1 and 2 of the European Supervisory Platform (ESP) and migration of the "Platform for Colleges" to EBA's environment.
• Concerns were raised about staffing constraints and reliance on competent authorities (CAs) for SNE positions.
• Suggestions were made to include EBA's work in international committees in future reports and to focus on IT security in ongoing projects.

Conclusion:
MB Members acknowledged the report and agreed to include the work in international committees at the next meeting. IT security will be a priority in future projects.

3. Financing Decision on Title 3 of 2014 Budget

• A proposal linking the 2014 work programme to the budget was presented.
• The financing decision was approved.

4. Strategy on Stress Testing in Light of Industry Engagement

• A strategy paper on the 2014 EU-wide stress testing exercise was presented.
• The paper addressed:
  • Industry feedback on templates and methodology, mainly on credit risk.
  • Communication coordination for stress test results, AQR, and national stress tests.
• A timeline was agreed.
• A communication note will be discussed at the May BoS meeting, focusing on publication timing and harmonisation of disclosure templates for banks not in the EBA sample.

Conclusion:
A communication note will be prepared for the May BoS meeting, and the timing of publication will be considered. A streamlined Q&A process and publication of incorrect validation rules were agreed.

5. COREP/FINREP Reporting Roadmap

• The first data submission to CAs should occur by 30 June 2014.
• A "release strategy" was proposed:
  • Two releases per year: one minor (technical amendments) and one major (new regulatory requirements).
  • A "patch release" to disable incorrect validation rules was introduced, with the first patch expected in April.
• Concerns were raised about validation rule errors and operational risks.
• A streamlined Q&A solution involving EBA and CAs was proposed.
• The EC representative suggested removing Annex XIV and XV from the ITS as part of an amendment to the asset encumbrance ITS, allowing EBA to publish amendments independently.
• A proposal to delay the data submission deadline to end July was agreed.

Conclusion:
The EBA will assess the proposal to remove Annex XIV and XV from the ITS. A streamlined Q&A solution and delayed submission deadline were approved.

6. Further Discussion on the Resolution Committee (ResCo)

• The MB requested further reflection on the structure of ResCo under the BRRD.
• The option of establishing ResCo as a separate committee, with final decisions made by the BoS, was supported.
• Further discussions were planned for the June BoS meeting, with a decision expected at the September BoS meeting to enable ResCo to be established by 1 January 2015.

7. EBA's Mandates under EC's Proposal on Structural Reform

• The EC proposed a regulation on structural reforms to improve the resilience of EU credit institutions.
• The EBA was mandated to:
  • Publish an RTS on additional separation methodology.
  • Prepare other RTS, ITS, and reports.
  • Receive and publish notifications.
  • Establish cooperation arrangements with relevant CAs in third countries.
• The EC representative encouraged the EBA to provide feedback on how to better define its mandates.

Conclusion:
The EBA will continue reflecting on its role under the EC proposals. Further consideration will be given at the BoS meeting after the summer.

8. Filling of Vacancies for the Banking Stakeholder Group (BSG)

• Three vacancies in the BSG were identified following the departure of three representatives.
• A proposal was tabled, considering representativeness, geographical, and gender balance.
• If any candidates are unavailable, a reserved list will be used.
• The MB proposed candidates for approval by the BoS via written procedure.

Conclusion:
The proposal was approved, and candidates will be submitted to the BoS for approval.

9. BoS Away Day (10-11 July 2014)

• The MB was asked to suggest topics for the BoS Away Day hosted by the Polish Financial Supervisory Authority.
• Proposed topics included:
  • EBA's role in international committees.
  • Macroprudential policy and microprudential supervision.
  • EBA's role in the resolution framework.
  • Strategy in line with the EU institutions' growth support strategy.
  • Cumulative banking reforms, their impact on business models, and future profitability.
  • Practical resolution issues and critical functions.
  • SIFIs and leverage ratio.
  • Simplicity vs. complexity of prudential regulation.

Conclusion:
A proposal with topics and suggested speakers will be sent to the MB for approval via written procedure.

10. BoS Provisional Agenda

• A draft provisional agenda for the May BoS meeting was presented.
• A joint session with the BSG was scheduled for 13 May.
• It was agreed that non-controversial topics could be handled via written procedure.

Conclusion:
The provisional agenda was adopted with some amendments and will be sent to the BoS for information within one week.

11. Oral Update on EBA Premises

• The Executive Director updated the MB on the proposal to move the EBA to One Canada Square, floors 45-46.
• The Council and European Parliament had approved the move.
• A twelve-year lease was expected to be signed, with an option to break the lease in year six.
• The move was planned for early December 2014 and would not have significant budgetary impact in the first few years.
• Further details will be presented at the May BoS meeting.

12. Oral Update on EBA Comments on the European Court of Auditors' Special Report

• The report by the European Court of Auditors (CoA) on the EBA's performance during the financial crisis was referenced.
• The report is expected to be adopted by the CoA in the coming weeks (confirmed for 8 May) and published in all EU languages by June.

Conclusion:
The report will be circulated to the BoS once adopted, and a communications plan will be prepared.

Participants

• Chairperson: Andrea Enria
• MB Members:
  • Germany: Peter Lutz
  • Italy: Luigi Federico Signorini
  • Netherlands: Anthony C. Kruizinga
  • Poland: Andrzej Reich
  • Spain: Fernando Vargas Bahamonde
  • United Kingdom: Katharine Braddick
• Institutional Representatives:
  • European Commission: Dominique Thienpont
  • ECB/SSM: Jukka Vesala; John Fell (for agenda item 4)
• EBA Staff:
  • Executive Director: Adam Farkas
  • Director of Regulation: Isabelle Vaillant
  • Director of Operations: Peter Mihalik
  • Director of Oversight: Piers Haben
  • Other staff: Mario Quagliariello; Stefano Capiello; Wolfgang Strohbach; Carlos Martins; Meri Rimmanen; Corinne Kaufman; Santiago Barón Escámez