EBA欧洲银行-EBA-Public-Hearing-on-the-GL-on-connected-clients_12页_485kb

报告摘要

EBA Draft Guidelines on Connected Clients Summary

Introduction

The European Banking Authority (EBA) conducted a public consultation on draft guidelines (GL) concerning connected clients as part of the revised large exposures regime under the Capital Requirements Regulation (CRR). These guidelines aim to update the 2009 CEBS GL, focusing specifically on the concept of connected clients and the two main types of interconnection: control relationships and economic dependency.

Core Content

The EBA's draft guidelines focus on Article 4(1)(39) of the CRR, which defines "connected clients" and the conditions under which they should be treated as a single risk. The guidelines seek to clarify how institutions should identify and manage these relationships, especially in light of changes to the CRR and practical experiences from previous implementations.

Main Types of Connected Clients

1. Connected Clients Based on Control

Use of Consolidated Financial Statements: Institutions should consider clients' consolidated financial statements (if prepared in accordance with EU accounting rules) to identify control relationships.
Control Indicators: An updated list of control indicators is provided, including:
- Holding the majority of voting rights
- Ability to exercise dominant influence
- Coordination of management
Exemption Considerations: In cases where subsidiaries are excluded from consolidated financial statements due to exemption, institutions should assess if the cost is disproportionate.
Exception for Single Risk: Institutions must demonstrate that, even if there is control among clients, these clients do not form a single risk, unless it is a more prudent treatment aligned with level 1 text.

2. Connected Clients Based on Economic Dependency

Non-exhaustive List of Situations: The EBA draft GL expands on the 2009 CEBS GL by developing a non-exhaustive list of economic dependency situations, including:
- Full or partial guarantee of exposure
- Liability due to legal status (e.g., general partner)
- Significant transactions (≥50%) between clients
- Common customer base or shared ownership
- Co-borrower or spouse/partner liability
Single Risk Indicator: The overarching indicator for grouping is the single risk between two or more clients, regardless of the type of connection. This includes the domino effect where the failure of one client leads to difficulties for another.

Alternative Approach for Exposures to Central Governments

A new alternative approach has been introduced to treat exposures to central governments (or regional/local governments under Article 115(2) of the CRR).
This allows for a separate assessment of clients directly controlled or interconnected with the central government, enabling the formation of separate groups of connected clients.
If entities are economically dependent, they should form additional separate groups (excluding the central government).

Control and Management Procedures

The guidance on identifying connected clients through control and management procedures remains similar to the 2009 CEBS GL.
Institutions are encouraged to identify all possible connections among clients to understand the risks they face.
The EBA recommends that institutions increase efforts to identify and document economic connections for exposures equal to or above 2% of eligible capital.
A potential change in the capital basis from eligible capital to Tier 1 capital may affect the threshold for this requirement.

Key Differences from 2009 CEBS GL

The 2009 CEBS GL used a more open wording and did not clearly distinguish between control and economic dependency, leading to different interpretations.
The EBA draft GL aims to clarify the interlinking of control and economic dependency and establish prudent treatment for single risk scenarios.

Next Steps

Public Consultation: Closes on 26 October 2016.
Feedback Processing: The EBA will process feedback and finalize the guidelines in Q1 2017.
Implementation: Guidelines will apply shortly after their translation into all EU languages, expected in Q2/Q3 2017.
Competent Authorities: Will implement the guidelines in their supervisory processes and legal frameworks.
Institutions: Must comply with the guidelines.