EBA欧洲银行-EBA-BS-2014-275rev1-28Minutes-BoS-Telcon-16-April-2014-APPROVED2920FOR-WEBSITE_4页_184kb

EBA Board of Supervisors Teleconference – Final Minutes Summary

Core Content

The EBA Board of Supervisors conducted a teleconference on 16 April 2014, focusing on the EU-wide stress test 2014. The main objectives were to approve the final methodology note, including data templates and scenarios, and to publish them on 29 April. Additionally, the discussion included the treatment of prudential filters for available for sale assets (AfS).

Main Points and Key Information

1. Approval and Publication of Methodology

• The final methodology note, including data templates and scenarios, was presented by the Chairperson, Andrea Enria, for approval.
• The scenarios were prepared by the ESRB Secretariat.
• The methodology had already incorporated feedback from the BoS, competent authorities (CAs), and the European Central Bank (ECB), as well as industry comments.
• Minor changes to the shock calibration for market risk would be circulated after the teleconference.

2. Concerns Raised by BoS Members

• Some members expressed concerns about the unknown impact of methodological changes, particularly the shift from residual to original maturity for assessing the cost of funding.
• One member raised concerns about the treatment of LTRO (Long-Term Refinancing Operations), considering the approach too lenient.

3. National Discretions and Harmonisation Proposal

• The IT and UK BoS Members proposed harmonising some national discretions related to deductions from own funds (Articles 467, 468, 469, 470, and 479 of the CRR) or phasing out prudential filters.
• The proposal aimed to improve comparability of results across EU jurisdictions and increase transparency.
• However, the ECB representative criticized the proposal for being too late and lacking thorough impact analysis, suggesting that greater transparency and disclosure would be a better way to achieve comparability.

4. Outcome of the Discussion

• The proposal for harmonisation was not accepted.
• Instead, it was agreed that the EBA would work on additional disclosure of results of national discretions.
• This disclosure would be part of the communications strategy and would be consulted with the STTF (Task Force on Stress Testing).
• A proposal would be tabled at the May or June BoS meeting.

5. Conditional Approval of Scenarios

• The approval of the scenario was conditional on final approval by the ESRB General Board.
• The EBA would coordinate with the ECB for communication purposes in light of the publication.

Participants

Voting Members and Alternates

Observers

Institutions

Conclusion

The teleconference concluded with the approval of the methodology and scenarios, subject to final ESRB General Board approval. The harmonisation proposal was not accepted, and the EBA would proceed with additional disclosure of national discretions to enhance comparability and transparency in the stress test results.