EBA欧洲银行-EBA-MB-2018-033rev1-28Final-Minutes-MB-20-March-201829_8页_215kb

EBA Management Board Final Minutes Summary (20 March 2018)

Core Content

The EBA Management Board (MB) meeting on 20 March 2018 covered a range of operational, strategic, and regulatory topics. The main areas of focus included the approval of the agenda and minutes, the status of administrative and operational activities, the relocation plan to Paris, the annual risk assessment, the 2019 Work Programme, the Basel III Final Package, the Recovery and Resolution Planning Roadmap, equivalence assessments, and the provisional agenda for the upcoming BoS meeting.

Main Points

1. Approval of Agenda and Minutes

• The MB approved the provisional agenda (EBA MB 2018 020rev2) and the minutes from the 23 January 2018 meeting (EBA MB 2018 021rev1).
• The Chairperson reminded members of the professional secrecy obligations under Article 70 of the EBA founding Regulation and the requirement to notify the Chairperson of prospective employment for two years after leaving the BoS and MB.
• An assessment of such notifications would be conducted to ensure new employment does not conflict with EBA's legitimate interests, and the results could be made public.
• The MB agreed to send a letter to current and future members reminding them of these obligations and to consult with ESMA and EIOPA on their practices.

2. Administrative and Operational Status

• The Director of Operations presented the status report (EBA MB 2018 027), highlighting HR matters, including new Unit heads and the ongoing 2017 staff appraisal.
• The EUCLID project had been endorsed by the ECB Statistics Committee and would be submitted to the SSM's Supervisory Board for approval.
• The Payments Register (PSD2 Register) project was in the early stages of identifying business requirements and drafting the project brief.
• The EBA was enhancing online training channels while maintaining onsite training for competent authorities (CAs).

3. EBA Relocation to Paris

• The MB was informed about the progress of the relocation to Paris, including procurement of premises and the possibility of sharing with ESMA.
• The transfer was expected to be completed by the Brexit date, and the EBA was advised to be precise on its confidence in meeting this deadline.
• The MB noted that the relocation proposal would need approval from the European Parliament (EP) and the Supervisory Board (BoS).
• Financial subsidy details were not yet confirmed by the French authorities.
• Flexible working arrangements were planned for the period 30 March to end-August 2019 to avoid disruption to staff members' children's academic year.
• The Commission representative emphasized the need to align with relevant EU rules when implementing teleworking and installation allowances.

4. Annual Risk Assessment

• The EBA presented its second fraud risk assessment (EBA MB 2018 023), using the same methodology as in 2016.
• The overall fraud risk level was assessed as low-to-medium.
• The MB agreed to modify the methodology to include an assessment of mitigating measures after their implementation.
• The EBA noted that the relocation would increase procurement procedures, thus requiring closer scrutiny of related risk scenarios.

5. 2019 Work Programme

• The Executive Director outlined the EBA's strategic priorities for 2019, including the Basel III Final Package, Fintech roadmap, EUCLID project, relocation, and loss absorbency capacity.
• Brexit and proportionality were identified as overarching themes influencing all EBA activities.
• The MB broadly supported the priorities, with suggestions to reorganize them and focus on the most substantial items.
• There was a call to include financial integration and consumer protection in the Work Programme.

6. Basel III Final Package

• The MB supported the EU's alignment with Basel III in terms of content and timelines.
• The EBA was working on data collection and would liaise with the Taskforce on Impact Studies (TFIS).
• The Commission representative emphasized the need for the EBA to provide data on the impact of Basel III compliance, particularly in areas like residential mortgages, proportionality, and the output floor.
• The EBA aimed to provide its advice to the Commission by June 2019.

7. Recovery and Resolution Planning

• The EBA proposed areas for improvement in resolution planning and crisis preparedness.
• The MB supported these areas and suggested focusing on the relationship between recovery and resolution, MREL, and public interest.
• The Commission representative recommended initiating breach of Union law investigations for non-compliance with BRRD, but the Chairperson suggested starting with letters and clarifications.
• The EBA's Resolution Committee (ResCo) would be involved in the BRRD review.

8. Equivalence Assessments

• The EBA's Banking Markets, Innovation and Products Unit updated the status of equivalence assessments for third countries.
• The Network on Equivalence was reactivated, assessing Argentina and South Korea, and planning to reassess Serbia.
• The EBA sought MB guidance on prioritizing 17 jurisdictions included in the Commission's delegated act.
• The Commission representative supported the assessment of Western Balkan countries and emphasized the separation of equivalence and accession processes.

9. Provisional Agenda for BoS Meeting

• The MB supported the inclusion of discussions on anti-money laundering, IFRS9, and BRRD-related matters in the BoS agenda for 18-19 April 2018.
• A request was made to delay the consultation paper on non-performing exposures and organize a joint discussion with reporting changes.
• The MB was invited to provide input on the topics for the BoS meeting.

10. AoB – Q&A Process

• A member raised concerns about the handling of a category 1 Q&A under the BRRD.
• The Chairperson confirmed that due process had been followed, and the Q&A was published as the Commission's interpretation.
• The MB supported further improvements to the Q&A process, such as early clarification of categories and assessing the need for extra care in sensitive cases.
• A request was made to include intraday liquidity monitoring tools in the Subgroup on Liquidity's work programme.

Key Information

• Professional Secrecy Obligations: Members must notify the EBA of prospective employment within two years of leaving the BoS or MB.
• Relocation to Paris: The EBA is working on the relocation, with a focus on compliance with the Brexit deadline and potential shared premises with ESMA.
• Methodology Update: The EBA will revise its risk assessment methodology to evaluate mitigating measures after implementation.
• Basel III Compliance: The EBA will provide data to the Commission by June 2019 to support the implementation of the Basel III reform package.
• Equivalence Assessments: The EBA will review its methodology with the BoS, aiming for a more efficient and outcome-driven process.
• Work Programme 2019: Strategic priorities include Basel III, Fintech, and consumer protection, with a focus on Brexit and proportionality.
• Q&A Process: The MB supported improvements to the process, including category clarification and sensitivity assessments.

Conclusion

The MB took note of all reports and agreed on key modifications and next steps. The EBA will refine its methodologies and ensure alignment with EU institutions and regulations, particularly in the context of Brexit and the implementation of new financial frameworks.