EBA欧洲银行-EBA-BS-2016-423rev1-28Minutes-BoS-25-26-October-201629_15页_330kb

EBA Board of Supervisors – Final Minutes Summary (25-26 October 2016)

Core Content

The EBA Board of Supervisors (BoS) convened in London on 25-26 October 2016, reviewing a range of agenda items related to regulatory frameworks, stress tests, data dissemination, and supervisory approaches. The meeting included discussions on the incorporation of the EBA Regulation into the EEA Agreement, MREL implementation, deposit guarantee schemes, Basel Committee reforms, and various consultation papers and reports.

Main Points and Key Information

Agenda Item 1: Welcome, Approval of Agenda and Minutes

• The Chairperson, Andrea Enria, introduced changes to the agenda order and minutes of the previous meeting.
• BoS approved the changes and the minutes of the 20 September meeting.
• Membership changes were noted, including new members and alternates from Cyprus, Luxembourg, and Portugal.
• Observers from Iceland, Liechtenstein, and Norway became members of the BoS following the entry into force of the EEA Joint Committee Decision No 199/2016 on 01 October 2016.
• The EFTA Surveillance Authority joined the BoS with Frank Büchel as a member and Ólafur Jóhannes Einarsson as an alternate.

Agenda Item 2: Amendments to the BoS Rules of Procedure

• Amendments were proposed to align with the incorporation of the EBA Regulation into the EEA Agreement.
• The EBA Head of Legal suggested changes to sections 2.1 and 4.3 to clarify supervisory roles in EEA EFTA States.
• The BoS supported the amendments with the suggested adjustments.

Agenda Item 3: Update on Risks and Vulnerabilities

• The discussion was moved to agenda item 12 due to its restricted nature.

Agenda Item 4: Draft Report on MREL

• The report aimed to inform the Commission ahead of its legislative proposal on MREL harmonisation.
• It included original and new recommendations from the July 2016 interim report.
• The like-for-like deduction approach for cross holdings was generally supported, with a suggestion to apply the 5% threshold from Basel.
• There was debate on MREL disclosure during the transitional period and its impact on MDA.
• The BoS agreed to incorporate its comments into the report and review it again before transmission to the Commission.

Agenda Item 5: Dissemination of DGS Data

• The BoS approved the dissemination of DGS data (available financial means and covered deposits) on the EBA website in Q2 2017.
• Concerns were raised about the potential impact on depositor confidence, but the Chairperson argued that the data was already public in some Member States.

Agenda Item 6: Decision on Notifications to the EBA relating to Directive 2014/49/EU

• A draft notification framework was proposed, allowing the EBA to act as a data hub for DGS information.
• The BoS approved the decision with a revised timeframe, using the same wording as in the BRRD: "as soon as reasonably practicable".
• Some members suggested that information on failure circumstances could be confidential.

Agenda Item 7: Basel Committee Reforms – Quantitative Impact

• The BoS discussed the impact of Basel reforms, including the SA-CCR, FRTB, and output floor.
• There was a call for a common EU position, with two possible approaches: low calibration or portfolio exemptions.
• The report on the impact was to be published in January 2017 after further refinements.

Agenda Item 8: Consultation Paper on PD, LGD Modelling and Defaulted Assets

• The BoS supported the publication of the consultation paper.
• There were suggestions to use market prices instead of accounting values for LGD estimation and to allow flexibility in historical data adjustments.
• The press release should link the paper with other future consultation documents.

Agenda Item 9: Response to Commission's Call for Advice on SA-CCR and FRTB

• The BoS adopted the draft response with proposed amendments to include a simplified SA-CCR framework.

Agenda Item 10: Discussion Paper on Prudential Regime for Investment Firms

• The BoS agreed to publish the discussion paper, with a clear preference for a new prudential framework.

Agenda Item 11: Consultation Paper on Credit Institution Authorisation

• The BoS agreed to publish the consultation paper but replaced the legal text on sequencing with an explanatory box and a specific question.

Agenda Item 12: Restricted Session

• A restricted discussion was held, likely on sensitive topics related to stress tests and market monitoring.

Agenda Item 13: Lessons Learned from 2016 EU-wide Stress Test

• The 2016 exercise was considered a success.
• Members supported a static balance sheet assumption with appropriate caps and floors.
• There was a call for more guidance on one-off adjustments and for more forward-looking stress test scenarios.

Agenda Item 14: Colleges 2017 Action Plan and Supervisory Approaches

• The EBA Director outlined the 2017 action plan, emphasizing the need for supervisory convergence.
• The EBA would support CAs with practical assistance and training in implementing the ICAAP/ILAAP guidelines.

Agenda Item 15: Coverage of Entities in Group Recovery Plans

• The BoS was invited to provide written comments on the note before the draft recommendation could be tabled.

Agenda Item 16: Final Report on Market Monitoring and Intervention Powers for Structured Deposits

• The report was approved for publication, with a focus on demonstrating how the EBA would monitor and exercise its powers from 2018 onwards.
• Alignment with ESAs was discussed to ensure a common approach.

Agenda Item 17: Consultation Paper on Payment Institutions under PSD2

• The consultation paper was endorsed without changes for a three-month period.
• It included a question on the practical application of the guidelines in two-tier legal structures.

Agenda Item 18: IFRS9 Implementation Analysis

• The BoS adopted the final report on IFRS9 implementation and agreed to its publication.
• Some members questioned the reference to transitional arrangements, but it was agreed that the EBA would signal its stance based on the second impact assessment.

Agenda Item 19: Guidelines on Fit and Proper Assessment

• The BoS supported the consultation paper and agreed to include an explanatory note and a question on two-tier structures.

Agenda Item 20: Internal Governance Guidelines

• The BoS approved the consultation paper with an additional explanatory note and a question on two-tier structures.

Participants

• Chairperson: Andrea Enria
• Participants: Representatives from 16 EEA Member States, including Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, and others.
• Alternates: Included from Luxembourg, Portugal, and other countries.