EBA欧洲银行-EBA-REC-2015-01-Recommendations-on-the-equivalence-of-confidentiality-regimes_28页_510kb

Summary of EBA/REC/2015/01: Recommendations on the Equivalence of Confidentiality Regimes

Core Content

This document contains recommendations issued by the European Banking Authority (EBA) on the equivalence of confidentiality regimes of third-country supervisory authorities. The recommendations aim to facilitate the participation of these authorities in colleges of supervisors under Directive 2013/36/EU, ensuring the safe and secure flow of information within such colleges.

The EBA is tasked with promoting the efficient, effective, and consistent functioning of the colleges of supervisors and ensuring the consistent application of EU law within them. The EBA also provides assistance on equivalence issues, as outlined in Regulation (EU) No 1093/2010.

The recommendations are based on the EBA Regulation, specifically Article 16, and are intended to inform the competent authorities on the equivalence of the confidentiality regimes of third-country authorities. The EBA expects these authorities to comply with the recommendations, either by amending their legal frameworks or supervisory processes.

Main Recommendations

• Status of Recommendations: The recommendations are issued under Article 16 of the EBA Regulation and apply from 02 April 2015.
• Subject Matter and Scope: The recommendations focus on the assessment of confidentiality regimes for third-country supervisory authorities to ensure convergence in supervisory practices.
• Reporting Requirements: Competent authorities must notify the EBA by 25 August 2015 whether they comply with or intend to comply with the recommendations, or otherwise provide reasons for non-compliance. Notifications must be submitted via the form provided in Section 5 to compliance@eba.europa.eu with the reference 'EBA/REC/2015/01'.

Key Principles for Confidentiality Equivalence Assessment

The EBA evaluates the confidentiality regimes based on the following four principles:

1. Notion of Confidential Information: The legal regime must define what constitutes confidential information.
2. Professional Secrecy Obligations: The regime must specify that supervisory authorities are bound by professional secrecy.
3. Restrictions on Use of Confidential Information: There must be clear restrictions on how confidential information can be used.
4. Restrictions on Transfer of Confidential Information: The regime must limit the transfer of confidential information to ensure its protection.

Equivalence Assessment for Selected Third-Country Authorities

Key Information

• The EBA does not provide guidance on the appropriateness of participation in a college of supervisors. This is determined solely by the college of supervisors.
• The recommendations are intended to inform the competent authorities' opinions on the equivalence of confidentiality regimes.
• The EBA may use recommendations as a tool to promote convergence in supervisory practices and ensure the consistent application of EU law.
• The recommendations are non-binding but are expected to be incorporated into the supervisory practices of competent authorities.

Implementation

• The EBA expects all competent authorities to comply with the recommendations.
• The assessment of equivalence is based on the legal and regulatory framework of each third-country authority.
• The EBA will publish the notifications received from competent authorities on its website, in line with Article 16(3) of the EBA Regulation.

Conclusion

The recommendations are a crucial step in ensuring the consistency and effectiveness of cross-border banking supervision. By assessing the equivalence of confidentiality regimes, the EBA aims to enhance the efficiency of information sharing and promote uniform supervisory standards across participating jurisdictions.