EBA欧洲银行-EBA-MB-2013-030-Minutes-9-April-2013_7页_205kb

EBA Management Board Meeting Summary - 9 April 2013

Core Content and Key Discussions

The EBA Management Board (MB) met on 9 April 2013 from 9:30 to 14:00 in London. The meeting covered several agenda items, including the approval of previous minutes and agendas, the ESFS Review, ECAI work plan, Central Counterparty (CCP) strategy, and updates on various ongoing projects.

Agenda Item 1: Opening & Approval of the Agenda and Minutes

• The MB approved the agenda for the meeting, along with the minutes from the previous meetings on 6 February 2013 and 18 March 2013.
• The meeting was structured to address key regulatory and supervisory topics in preparation for the upcoming BoS meeting in May.

Agenda Item 2: ESFS Review

• The MB was requested to provide its views on the impact of changes to the EBA Regulation, particularly in light of the political agreement on the Single Supervisory Mechanism (SSM).
• The MB was also asked to consider potential future changes to the EBA Regulation and the role of other EU bodies to enhance effectiveness.
• The Chairperson updated the MB on the situation in Cyprus.

Key Adjustments Suggested by the MB:

• Stress Tests: The MB supported the preparation of a document outlining the process and criteria for the BoS to consider stress tests annually. This would be included in the EBA work plan and the BoS agenda for September. A paper will be prepared by June.
• EBA College Role: The MB agreed that the EBA should revise its approach to colleges, including specific processes for convening meetings and tools to improve college functioning. A paper will be drafted by the June MB.
• Consumer Protection: Members emphasized the need for the EBA to better identify its strategic priorities in this area.
• ESRB Review: The MB suggested that the EBA staff prepare a possible position for the BoS in response to the EC public questionnaire. It also recommended including input on boundary issues with other EU bodies and identifying potential obstacles.

Conclusion:

• The adjustments will be incorporated into the ESFS Review paper for the May BoS meeting.
• Further discussion on the EBA's strategic objectives for the ESFS Review is planned for the July extraordinary BoS meeting.

Agenda Item 3: External Credit Assessment Institutions (ECAI)

• The Director of Regulation introduced the need to review the current mapping methodology for ECAIs and set up a project team for this purpose.
• The MB was asked to approve the proposed EBA strategy on ECAIs.
• Some members suggested incorporating input from ECAIs themselves and referencing the FSB work on overreliance on external ratings.

Conclusion:

• The MB endorsed the proposed EBA strategy for ECAIs.
• Additional input from ECAIs will be included in the strategy.

Agenda Item 4: Central Counterparty (CCP)

• The Chairperson highlighted the EBA's potential role in prudential risk management for market infrastructures.
• Four key areas were identified: liquidity risk, counterparty credit risk mitigation, stress testing, and recovery and resolution frameworks for CCPs.
• A coordinated approach is necessary to prevent regulatory arbitrage, and coordination with ESMA is required.

Conclusion:

• The MB approved the proposed EBA strategy on market infrastructures.
• The paper on CCP will be discussed with ESMA to reach agreement.

Agenda Item 5: Binding Technical Standards (BTS) Already Consulted

• The Director of Regulation outlined the status of "Frozen BTS" (draft standards that have been consulted).
• Most BTS, except the one related to CVA, are ready for final adoption.
• The "Standards on Reporting" are delayed due to last-minute amendments in Article 95. Two consultations on Encumbrance and Forbearance are ongoing until June 24.
• Two options were proposed to extend the deadline for issuing the standards.

Conclusion:

• The MB agreed to send an informal letter to the EU Commission regarding the timeline for the adoption of draft technical standards.
• A Statement will be published after the July BoS meeting.
• A plan for all technical standards to be developed by the end of the year will be presented to the next applicable BoS meeting after the official publication of CRD IV/CRR.

Agenda Item 6: Financial Institution Register - Update

• The MB was updated on the EBA Credit Institution Register.
• Phase 1 (temporary solution) had already been implemented.
• Phase 2 involves developing a new interface, with ongoing exchanges between NSAs and EBA staff.

Conclusion:

• The MB approved the development of the Credit Institutions Register Interface.
• A project chart will be sent for formal endorsement.
• Cooperation with the ECB is required.

Agenda Item 7: Asset Quality Review (AQR)

• The Director of Oversight introduced different coordination options for the AQR exercise.
• The MB was asked for its views on the way forward for the AQR Recommendation.

Conclusion:

• The MB supported coordination for AQRs and the provision of guidance on best practices.
• It preferred a high-level recommendation to competent authorities, including a requirement to conduct AQRs using EBA definitions and coordinated reporting.
• The EBA staff will redraft a short recommendation with good practices for quick MB feedback before circulating to the BoS.

Agenda Item 8: Administrative and Operational Status Report

• The Director of Operations provided an overview of recent developments in EBA operations.
• The Executive Director updated the MB on the future office solution, with a re-launch of the selection process in the second quarter.

Agenda Item 9: BSG Renewal Process

• The MB was updated on the process for renewing the Board of Supervisors Group (BSG).
• A Call for Interest is proposed to be launched on 17 May, with a six-week period.
• The new BSG composition will be proposed by the 17 September MB meeting.
• To minimize the gap, written approval from the BoS is proposed instead of waiting for the October meeting.

Conclusion:

• The MB approved the suggested timeline and the publication of Annex V as a standalone document.
• The Call for Interest will be forwarded to the May BoS meeting for approval.
• Further Ombudsman feedback may lead to changes.

Agenda Item 10: A.o.B (Other Business)

• Alternate Chair of the MB: Mathew Elderfield will step down as Alternate Chairperson.
• BoS Agenda: A draft agenda was tabled for information.
• Joint BoS/BSG Agenda: Also tabled for information.
• Proposed Strategy on Transparency and Pillar 3 Disclosure: The MB agreed on the need for a top-down strategy to unify transparency efforts and guide Pillar 3 guidelines.
• Mediation Panel: Substitutes will be elected at the 15th/16th May BoS meeting.
• Steering Committee for Single Supervisory Handbook: The Management Board will act as a formal Steering Committee after the BoS vote.
• Conference Call: A call on 16 April will be organized to discuss the pilot phase of the Handbook development.
• EBA's Responsibility under CRR: The MB agreed to further work on the EBA's role in providing opinions on macro-prudential measures introduced by Member States.

List of Participants

• Chairperson: Andrea Enria
• MB Members: Danièle Nouy, Andrew Bailey, Martin Andersson, Mary Burke, Raimund Roseler, Fernando Vargas, Jukka Vesala
• European Commission Representative: Dominique Thienpont
• Executive Director: Adam Farkas
• Directors: Isabelle Vaillant (Regulation), Peter Mihalik (Operations), Haben Piers (Oversight)
• EBA Staff: Corinne Kaufman, Lars Overby, Patricia Juanes Burgos