EBA欧洲银行-EBA-MB-2017-034-28Final-Minutes-MB-24-January-2017-FOR-PUBLICATION29_8页_413kb

EBA Management Board Meeting Summary - 24 January 2017

Core Content

The EBA Management Board (MB) convened on 24 January 2017 in London and reviewed several key agenda items, including administrative updates, risk assessments, Brexit implications, and strategic initiatives. The meeting aimed to align the EBA with upcoming regulatory developments and ensure operational efficiency.

Main Agenda Items and Key Points

1. Welcome, Approval of Agenda and Minutes

• The MB approved the agenda and minutes from the previous meeting.
• A vacancy at the MB was noted due to the resignation of a Board of Supervisors (BoS) member from the Czech National Bank.
• The Executive Director was absent due to participation in a European Parliament hearing on Brexit implications.
• The MB was invited to contribute to the European Commission's consultation on the ESFS and the organisation of ESAs.
• Brexit-related issues were highlighted as critical areas to assess, including regulatory divergences, financial stability, and cross-border regulatory impacts.

2. Administrative and Operational Status Report

• The EBA Director of Operations presented the 2016 administrative and operational report.
• Key areas included:
  • Budget execution affected by GBP-EUR exchange rate fluctuations.
  • VAT claims managed prudently.
  • Staff recruitment showed a declining trend since 2014, partly due to the establishment of the SSM.
  • IT systems faced data quality challenges rather than infrastructure issues.
• The Commission representative noted minor discrepancies in the report and requested clarification.
• The MB welcomed the report and expressed appreciation for the comprehensive overview.

3. EBA Risk Assessment Annual Update

• The EBA Director of Operations introduced the 2016 risk assessment update based on 2014 guidelines.
• A new risk related to the security of ITS data was identified, with a proposed mitigation measure for email and communication security.
• The MB requested the inclusion of incident lists and a revised methodology for risk assessment.
• Brexit-related risks were discussed, with the EBA planning an internal impact assessment.
• The Chairperson suggested further collaboration with EMA to address risks like procurement and office costs.
• The MB requested an impact assessment considering two scenarios of EBA relocation (6 months and 18-24 months notice).

4. HR Implementing Rules

• The EBA requested the Commission to not apply certain Staff Regulations decisions.
• The MB asked for more detailed reasoning and alignment with other ESAs.
• The Commission representative suggested consulting the Directorate-General for Human Resources and Security.

5. Implementation of the Anti-Fraud Strategy

• The EBA presented the first fraud risk assessment based on the 2015-2017 strategy.
• The draft whistleblowing policy was under EDPS consultation and would be submitted for MB approval.
• The anti-fraud strategy was differentiated from the risk strategy, focusing on specific fraud instances.
• The MB took note of the assessment and confirmed the submission of the whistleblowing policy upon EDPS consultation completion.

6. Expansion of EBA Data Infrastructure - Project Brief

• The Chairperson outlined the conditions for the data infrastructure project, including budget approval, quality assurance adjustments, and involvement of technical committees.
• The project would be delivered through three workstreams, with the first Project Brief submitted for MB approval.
• The Commission representative noted that the College of Commissioners would provide an opinion on the 2018 budget.
• Concerns were raised about the project's impact on IT infrastructure and reporting burdens.
• The EBA confirmed that the project would not involve full disclosure of individual bank data.

7. Revised 2017 Work Programme

• The revised 2017 Work Programme included delayed products from 2016 and new legislative reforms.
• Key areas included CRR/BCBS review, TLAC implementation, proportionality in the regulatory framework, and securitisation in the Capital Market Union.
• The MB welcomed the revision and requested a backup deprioritisation plan and resource allocation table.
• The EBA was asked to confirm the removal of equivalence work from the 2017 programme.

8. European Commission Proposal on CRR/CRD/BRRD

• The MB discussed how to influence the Commission's proposals on CRR, CRD, and BRRD.
• Key focus areas were identified, including MDA, IFRS9, own funds, leverage ratio, supervisory reporting, and trading book review.
• The EBA was advised to communicate with the Council and European Parliament and to consider legal amendments for decision-making powers.

9. Draft EBA Opinion on Reporting Requirements

• The Chairperson presented a draft opinion on improving the decision-making framework for supervisory reporting.
• The opinion addressed issues like delayed endorsement processes and publication of templates in the OJEU.
• The EBA proposed being empowered to adopt reporting requirements directly.
• The MB supported the opinion and agreed to submit it to the BoS.

10. AoB: External Assessment and Peer Review

• The MB took note of the results of the 2016 external assessment of the Commission's IAS and action plan.
• Draft Terms of Reference for the 2017 peer review were presented, with a request for flexibility in timelines.

Conclusion

• The MB approved the agenda, minutes, and various reports and proposals.
• Several items were to be re-submitted for approval by written procedure, including the HR decision and the Project Charter.
• The EBA was tasked with further analysis and communication on Brexit implications and the revised Work Programme.