EBA欧洲银行-Minutes-MB-24-Sept2014_8页_416kb

EBA Management Board Final Minutes Summary - 24 September 2014

Core Content

The EBA Management Board (MB) convened on 24 September 2014 in London and addressed several key agenda items, including budget matters, policy updates, and cooperation with third countries. The meeting was preceded by the European Parliament's ECON Committee hearing of the ESAs' Chairs, which was noted as having a positive tone regarding the ESAs' work.

Main Points and Key Information

Agenda Item 1: Opening and Approval of Agenda and Minutes

• The meeting opened with a welcome from the Chairperson, Andrea Enria.
• The agenda and minutes from the previous MB meeting were approved.

Agenda Item 2: Administrative and Operational Report

• The EBA Director of Operations presented the report, covering the execution level of the budget and two budget transfers.
• The report included:
  • The 2015 budget would be prepared in the coming months.
  • The procurement plan for 2015 would be lighter than previous years.
  • The establishment plan would be fulfilled by December 2014.
  • The EBA communications strategy would be submitted for approval.
  • ESP phases 2, 3, and 4 were scheduled for July 2014, October 2014, and February 2015, respectively.
  • The migration to the EBA's own data centre for the platform for colleges was planned for end-2014.
• The two budget transfer requests were approved.

Agenda Item 3: Long-term Office Solution Implementation - Update

• An increase in the budget for fit-out works in the new EBA offices was proposed.
• The Executive Director noted the project's implementation status.
• The EBA would inform the budgetary authority and provide additional information if requested.

Agenda Item 4: Decision to Request Commission's Agreement on Non-application of GIPs

• The EBA requested derogation from and non-application of several GIPs that would otherwise apply from 1 January 2014.
• The request was made to ensure a consistent approach with the ESAs.
• The draft decision was adopted by the MB.

Agenda Item 5: Conflicts of Interest Policy

• An amended conflicts of interest policy was presented for approval.
• The policy aims to manage conflicts of interest, including prevention, identification, and resolution.
• It applies to all BoS Members and their alternates, except ad-hoc alternates.
• Concerns were raised about the impact on national employment contracts and enforcement.
• A survey of national competent authorities was agreed to, and a correction to the policy was made regarding alternates.

Agenda Item 6: Conduct Risk

• A note on conduct risk was presented, based on discussions from an away day in Krakow.
• Conduct risk was discussed in the context of Pillar 1 and Pillar 2, including quantification, SREP guidelines, and stress testing.
• Concerns were raised about the potential legal implications of capital provisioning for conduct risk.
• The work on defining conduct risk should continue with the SGOR and involve the BSG, SCARA, and SCOP.

Agenda Item 7: Cooperation Agreements with Third Countries under BRRD

• The EBA was requested to initiate non-binding framework cooperation arrangements (FCAs) with third country authorities.
• The first phase included Hong Kong, Japan, Switzerland, and the US, while the second phase included Brazil, Canada, Mexico, and Singapore.
• The MB agreed to support this initiative, with a project to be presented by end-2014.

Agenda Item 8: Standing Committees and TFSB Mandates

• Amended mandates for the Standing Committees and the Taskforce on Supervisory Benchmarking (TFSB) were discussed.
• Proposals included chairing by BoS members, alignment of chairing roles, and inclusion of NCAs in substructure chairing.
• The task of following up on international fora was retained.
• The TFSB was to be chaired by EBA staff to ensure coordination, and a clarification on Commission participation was added.

Agenda Item 9: European Commission's Report on ESAs and ESFS

• The Commission's report on the ESFS was reviewed, acknowledging ESAs' achievements and identifying areas for improvement.
• The report highlighted the need for increased peer reviews and potential regulatory amendments.
• The EBA was invited to continue engaging with the Commission to discuss the report's findings and issues.

Agenda Item 10: Chair of the Taskforce on Payment Services

• A proposal to nominate the Head of the Consumer Protection and Financial Innovation Unit as TFPS Chair was submitted.
• The MB decided to first seek nominations from BoS Members and Alternates before finalizing the structure.

Agenda Item 11: BoS October Meeting – Provisional Agenda

• A provisional agenda for the BoS meeting of 28-29 October 2014 was approved.
• A restricted session was proposed to discuss the supervisory reaction to the 2014 EU-wide Stress Test results.

Agenda Item 12: Adoption of Rules for the Implementation of the Financial Regulation

• A draft decision on the adoption of rules for implementing the financial regulation was approved.

Participants

• Chairperson: Andrea Enria
• Members:
  • Germany: Peter Lutz
  • Italy: Andrea Pilati
  • Netherlands: Jan Sijbrand
  • Poland: Andrzej Reich
  • Spain: Fernando Vargas Bahamonde
  • United Kingdom: Andrew Bailey
• EU Institution: European Commission (Represented by Dominique Thienpont)
• 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, Corinne Kaufman, Jonathan Overett Somnier, Santiago Barón-Escámez

Conclusion

The meeting concluded with the adoption of several key decisions, including the budget transfer requests, the conflicts of interest policy, and the rules for financial regulation. The EBA was directed to continue its work on conduct risk and cooperation agreements with third countries, and to prepare for the upcoming BoS meeting.