EBA欧洲银行-EBA-CP-2016-05-28CP-on-RTS-on-disclosure-of-encumbered-and-unencumbered-assets29_46页_640kb

报告摘要

EBA Consultation Paper on Disclosure of Encumbered and Unencumbered Assets

Core Content

This document outlines the European Banking Authority (EBA)'s draft Regulatory Technical Standards (RTS) on the disclosure of encumbered and unencumbered assets, in line with Article 443 of the Capital Requirements Regulation (CRR) and the ESRB Recommendation ESRB/2012/2. The purpose of the RTS is to provide transparent and harmonised information on asset encumbrance across the EU, enabling market participants to assess the liquidity and solvency profiles of institutions.

Main Points

1. Purpose and Rationale

The EBA is tasked with developing RTS to improve the disclosure of encumbered and unencumbered assets.
The ESRB recommends a gradual approach to enhancing disclosures, which the EBA has adopted.
The RTS aim to harmonise and standardise disclosure practices, ensuring a level playing field for institutions and improving comparability and transparency.

2. Definition of Asset Encumbrance

The EBA defines asset encumbrance as pledging an asset or entering into any transaction to secure, collateralise or credit enhance a transaction from which the asset cannot be freely withdrawn.

3. Disclosure Templates and Information Requirements

The RTS include three disclosure templates and narrative information:
- Template A: Encumbered and unencumbered assets in carrying and fair value amounts, broken down by asset type and quality.
- Template B: Collateral received by an institution, broken down by product type.
- Template C: Carrying amount of encumbered assets and associated liabilities, by exposure class.
- Template D: Narrative information on the importance of encumbrance in the institution’s funding model.

4. Experience and Data Collection

The EBA has gained experience in collecting asset encumbrance data through supervisory reporting under Article 100 of the CRR and Commission Implementing Regulation (EU) 2015/79.
Since June 2014, institutions have been disclosing encumbrance data in line with the EBA Guidelines.
The EBA has published aggregate data reports on asset encumbrance, including the September 2015 Report and June 2015 Risk Assessment Report.

5. Current Disclosure Shortcomings

Existing accounting and regulatory standards (e.g., IFRS 7, IFRS 12, Council Directive 86/635) do not fully cover the concept of encumbrance as defined by the EBA.
They lack a consistent format and granularity, leading to varying practices among institutions.
The Enhanced Disclosure Task Force (EDTF), under the Financial Stability Board (FSB), has recommended enhanced disclosures, but implementation has been low, with only 49% of banks fully implementing the EDTF recommendation.

Key Information

The RTS will be consulted for three months (until 25.07.2016).
The finalised RTS will be submitted to the European Commission for endorsement.
The EBA aims to enhance the scope and granularity of disclosures to provide comprehensive quantitative and qualitative information.
The RTS build on existing guidelines and supervisory reporting to ensure consistency and reduced implementation costs.
The EBA encourages flexibility in the templates to accommodate different business models and transaction types.
The narrative information is designed to explain the impact of encumbrance on the institution's funding and liquidity.

Next Steps

The EBA will finalise the RTS after the consultation period.
The European Commission will review and decide whether to endorse the RTS.
The RTS will ensure harmonised and standardised disclosure across the EU, improving market transparency and analysis.

Conclusion

The EBA's draft RTS aim to enhance transparency and consistency in the disclosure of encumbered and unencumbered assets, aligning with the ESRB Recommendation and addressing shortcomings in current standards. They will support market participants in assessing liquidity and solvency and promote a level playing field among institutions.

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