2017年-EBA欧洲银行管理局_EBA_Report_on_the_Application_of_Simplified_Obligations_and_Waivers_in_Recovery_and_Resolution_Planning_91页_1mb

Summary of the Report on the Application of Simplified Obligations and Waivers in Recovery and Resolution Planning

Core Content

This report, issued by the European Banking Authority (EBA) in December 2017, provides an analysis of how competent and resolution authorities in the European Union (EU) have applied the simplified obligations and waivers under the Bank Recovery and Resolution Directive (BRRD). It is based on data reported to the EBA during the first two reporting periods under the BRRD, which ran from 1 January 2015 to 30 April 2017.

The BRRD, which came into force in January 2015, establishes a framework for recovery and resolution planning for credit institutions, certain investment firms, and other entities. It is grounded in the principle of proportionality, allowing authorities to apply simplified obligations or waivers if institutions meet specific eligibility criteria or conditions.

Main Views

• Application of Simplified Obligations and Waivers: By 30 April 2017, approximately half of the competent and resolution authorities had granted simplified obligations or waivers to institutions under their supervision. However, there were significant differences in the percentage of institutions subject to full-scope BRRD requirements across Member States, ranging from 1% to 91% for recovery planning and 1% to 99.6% for resolution planning.

• Eligibility Assessment: The EBA found that practices varied significantly across the EU in the assessment of eligibility for simplified obligations. While the EBA had issued guidelines and draft regulatory technical standards (RTS) to promote convergence of practices, the divergences remained due to the lack of a harmonised EU framework for simplifications.

• Scope of Simplifications: Authorities have discretion in determining the scope of simplifications, including the content and detail of recovery and resolution plans, the frequency of updates, and the level of detail for resolvability assessments. The BRRD allows flexibility in defining this scope, and no other EU-wide framework exists.

• Reporting Mechanisms: The EBA required competent and resolution authorities to report data on the application of simplified obligations and waivers. Two reporting periods were defined: the first from 1 January 2015 to 30 April 2016, and the second from 1 May 2016 to 30 April 2017. Data submitted in the second period were more complete than those in the first, but many Member States had not yet made final decisions on applying simplified obligations and waivers by June 2017.

• Methodologies and Indicators: The EBA guidelines and draft ITS specified obligatory indicators for each of the criteria used in eligibility assessment, including size, interconnectedness, complexity, risk profile, nature of business, shareholding structure, legal form, legal status, and membership in an institutional protection scheme (IPS). Optional indicators were also listed, but no specific methodology with assigned weights or thresholds was provided by the EBA.

• Waivers: Article 4(8)-(10) of the BRRD allows for waivers in certain cases, such as when institutions are affiliated with a central body or members of an IPS. The waivers must be applied on a consolidated basis.

Key Information

• Reporting Periods:

  • First reporting period: 1 January 2015 to 30 April 2016
  • Second reporting period: 1 May 2016 to 30 April 2017

• Data Submission:

  • Individual reporting was used by 7 competent authorities and 8 resolution authorities.
  • Category-based reporting was used by the remaining authorities, which limited the EBA's ability to compare data across the EU due to aggregated or range-based values.

• Next Steps:

  • The EBA will submit this report to the European Parliament, the Council, and the Commission by 31 December 2017 to support possible amendments to the BRRD and promote greater convergence of practices.

• Resolvability Assessment:

  • Resolution authorities are required to conduct resolvability assessments under the BRRD, which may involve simplified requirements depending on the institution's status.

Structure and Findings

The report is structured into five main sections:

1. Legal Framework and Approach
2. Methodology and Indicators for Eligibility Assessment
3. Application of Simplified Obligations and Waivers
4. Scope of Simplifications
5. Conclusions and Recommendations

• The EBA guidelines and ITS provided a common framework, but authorities applied different methodologies, leading to divergences in practice.
• The final draft of the EBA RTS on simplified obligations was expected to increase harmonisation of eligibility assessments.
• G-SIIs (Global Systemically Important Institutions) and O-SIIs (Other Systemically Important Institutions) are excluded from simplified obligations due to their systemic importance.

Conclusion

The report highlights the limited harmonisation in the application of simplified obligations and waivers across the EU. It underscores the need for further convergence in practices to ensure consistent application of the BRRD's principle of proportionality. The EBA will continue to monitor the situation and provide recommendations for potential amendments to the directive.