EBA欧洲银行-EBA-MB-2014-125rev1-28Final-Minutes-MB-19-Nov201429_8页_415kb

EBA Management Board – Final Minutes Summary (19 November 2014)

Core Content

The Management Board (MB) of the European Banking Authority (EBA) convened on 19 November 2014 in London. The meeting covered a range of administrative, operational, and strategic topics, including the approval of the agenda and minutes, budget-related matters, risk management processes, and the implementation of various regulatory and operational initiatives.

Main Points and Key Information

Agenda Item 1: Opening, Approval of Agenda and Minutes

• The meeting was opened by the Chairperson, Andrea Enria.
• The provisional agenda (EBA MB 2014 104rev2) and draft minutes of the previous meeting (EBA MB 2014 105rev1) were approved.
• An election by secret ballot for two new MB members was scheduled for the Board of Supervisors (BoS) meeting on 10-11 December 2014, following a call for expression of interest on 11 November 2014.

Agenda Item 2: Administrative and Operational Report

• The EBA Director of Operations presented the report covering developments since the 24 September 2014 MB meeting.
• A request for a budget transfer above 10% of appropriations to cover salary adjustments and correction coefficient impact was approved.
• The budget for 2015 was affected by a disagreement between the European Council and the European Parliament, potentially leading to a freeze on new staff recruitment.
• The financial audit was outsourced to an external company.
• A comprehensive media monitoring initiative was proposed to enhance the EBA’s outreach.
• The establishment plan for 2014 was fulfilled.
• Communications focused on the 2014 EU-wide stress tests.
• Phase 3 of the European Supervisory Platform (ESP) was live since October 2014, with Phase 4 expected in February 2015.

Agenda Item 3: Risk Management Process

• The EBA Risk Management Process (EBA MB 2014 118) was presented for approval.
• A risk log would be maintained, with critical risks (regardless of their relation to the work programme) brought to the MB's attention.
• The MB would receive an Annual Risk Assessment.
• The risk exposure matrix was to be updated to classify events with moderate probability and severe impact as critical.
• The European Commission's representative inquired about progress on anti-fraud guidelines, which were noted to be in progress.

Agenda Item 4: Long-term Office Solution Implementation – Financial Update

• The EBA Executive Director presented a financial update on the long-term office solution.
• Negotiations on dilapidations costs related to leaving Tower 42 were underway.

Agenda Item 5: Establishment of the Taskforce on Impact Studies

• A proposed mandate for the Taskforce on Impact Assessment (TFIS) was presented.
• The TFIS would rely mainly on COREP ITS and EU QIS data.
• It would not have a policy role, but if policy recommendations were included, they would be discussed first with the relevant Standing Committees.
• The TFIS would conduct impact studies as part of its assistance function, not as the core of its mandate.
• The mandate was to be amended to emphasize the continuity of the ISG’s work, separate Basel III monitoring from CRDIV-CRR, and clarify the expertise required.

Agenda Item 6: Comply-or-Explain Process for Guidelines

• A paper was presented outlining changes to the comply-or-explain process, including the possibility for competent authorities (CAs) to express their intention to comply with parts of the guidelines.
• The MB agreed to the template, pending a potential change to maintain consistency with other ESAs.

Agenda Item 7: Issues Note on Stress Tests Guidelines

• The EBA was reviewing its stress test guidelines to improve clarity and consistency with the new SREP guidelines.
• A broader assessment of the 2014 stress tests was to be conducted at the next MB meeting.
• The development of a taxonomy was identified as a priority to address ambiguity and overlap in terms and definitions.

Agenda Item 8: Guidance Note on IRB Repair Process

• A discussion paper was proposed to outline the sequencing of future regulatory products related to the IRB approach.
• The MB supported the initiative, emphasizing the need for a timetable and deadlines for submissions.
• It was proposed to bundle regulatory products to minimize the need for repeated model changes and approvals.

Agenda Item 9: Guidance Note on Prudential Treatment of Investment Firms

• The EBA was tasked with responding to the Commission’s call for advice on the prudential treatment of investment firms under the CRR.
• The MB expressed a preference for a joint EBA/ESMA response.
• An interim report was suggested in case of difficulty in meeting the deadline.

Agenda Item 10: Basel III Regulatory Consistency Assessment Programme (RCAP)

• The final RCAP report was expected to have conclusions consistent with previous communications.
• The MB agreed not to send a letter to the Commission and EU legislators but to prepare a joint communication.
• A Q&A document and a common message were to be developed, with EBA engaging with the Commission to agree on arguments for the communication.

Agenda Item 11: Transitional Arrangements for the Resolution Committee

• A proposal for transitional arrangements was presented to address the lack of resolution authorities in some Member States.
• The EBA would prepare a legal note analyzing the implications of these arrangements, which would be shared with the BoS.

Agenda Item 12: Management Board Meetings in 2015

• The 2015 calendar of BoS and MB meetings was presented, having been communicated in July 2014.

Agenda Item 13: Board of Supervisors' December 2014 Meeting - Draft Provisional Agenda

• The provisional agenda for the BoS meeting on 10-11 December 2014 was presented.
• The MB was invited to provide comments, which would then be shared with the BoS.

Agenda Item 14: AoB

• The provisional agenda for the joint BoS-Banking Stakeholder Group meeting on 10 December was shared.
• A written procedure for approving an amendment to the reimbursement policy for the Board of Appeal was to be launched, including a potential increase in the remuneration cap for the President and Rapporteur.