EBA欧洲银行-EBA-BS-2011-150-PUBLIC-EBA-minutes-BoS-5-6-Oct-2011_10页_298kb

Summary of the Fifth EBA Board of Supervisors Meeting (5-6 October 2011)

Core Content

The Fifth EBA Board of Supervisors Meeting took place on 5-6 October 2011 at Tower 42 in London. The meeting was attended by representatives from 23 European countries, as well as observers from Norway, Iceland, and Liechtenstein, and representatives from several EU institutions, including the European Commission, ECB, ESRB, ESMA, and EIOPA.

Main Agenda Items and Key Points

Agenda Item 1: Opening, Welcome and Approval of the Agenda and Minutes

• The Chair welcomed new participants: Raimondis Kuodis (absent) from Lithuania, Matthew Elderfield from Ireland, Hector Sants (absent) from the UK, Patrinia-Maria Adamopoulou from Greece, and Morten Baltzersen as the observer from Norway.
• The agenda and minutes, including those from the telephone conference of 29 September 2011, were approved.

Agenda Item 2: Election of the EBA Alternate Chairperson

• An election was held for the Alternate Chair following the resignation of Thomas Huertas.
• Matthew Elderfield from the Central Bank of Ireland was elected by majority (24 votes in favour; 2 abstentions).

Agenda Item 3: Update on EFC Financial Stability, ECOFIN Meetings and ESRB Developments

• The Chair provided a high-level summary of confidential meetings with the EFC and ECOFIN.
• The EBA will continue to work with the ESRB on structural changes to banks' funding, including the use of covered bonds and asset encumbrance.

Agenda Item 4: Discussion on Risks and Vulnerabilities in the EU Banking Sector

• The Board discussed risks and vulnerabilities, focusing on funding guarantee schemes, recapitalisation plans, and the need for improved information sharing.
• The EBA will work on loan restructuring, FX loans, and the convergence of definitions.
• A draft letter was circulated to national authorities for feedback on improving transparency and information flows.

Agenda Item 5: Report on Banks' Transparency in 2010 P3 Reports

• The Director Oversight presented a report assessing Pillar 3 disclosures and proposed a revised strategy for transparency.
• The Board endorsed the report without supporting the publication of individual scores.

Agenda Item 6: Implementation of Regulatory Reform

• The EBA expressed concerns about not being allowed to attend Council working groups on CRD IV/CRR as an observer.
• The Commission representative acknowledged the legal concerns but supported ad hoc attendance.
• The Board accepted the distinction between strategic and technical policy positions and supported the discussion of the CRD IV proposal at the Board level.

Agenda Item 7: Monitoring of Capital Issuances

• The Board agreed to a limited data collection exercise on ESMA's behalf to assess the impact of the endorsement regime on CRD institutions.
• A questionnaire on securitisation exposures was circulated for completion within four weeks.

Agenda Item 8: EU-wide Stress Testing Exercise 2011 – Lessons Learned

• The Director Oversight proposed the establishment of a small task force of national experts to improve the methodology for the 2012 stress tests.
• A template for collecting data on capital positions and sovereign exposures was circulated for completion by 12 October 2011.

Agenda Item 9: ITS on Supervisory Reporting

• Due to time constraints, the item was to be addressed via written procedure.
• The Board was requested to approve the timing and scope of ITS development by 12 October 2011.

Agenda Item 10: EBA Work Programme

• The 2012 work programme was noted as extremely heavy and required discussion with the Commission.
• It was agreed to deal with the work programme via written procedure, with comments requested by 14 October 2011.

Agenda Item 11: ESMA Endorsement Regime under CRA Regulation

• The EBA was requested to support ESMA in assessing the impact of the endorsement regime on CRD institutions.
• A questionnaire on securitisation exposures was circulated for completion by 8 November 2011.

Agenda Item 12: Administrative and Operational Issues

• This item was postponed due to lack of time.

Agenda Item 13: Appointment of SCARA and Review Panel Chairs

• Frédéric Visovsky of the Autorité de Contrôle Prudentiel was appointed as the SCARA Chair.
• Matthew Elderfield was appointed as the Review Panel Chair.
• A proposal for work on third country equivalence was circulated for written approval by 12 October 2011.

Agenda Item 14: AOB (Any Other Business)

• Two complaints were raised to the EU Ombudsman regarding the composition of the Banking Stakeholder Group.
• The Chair highlighted the need to prioritise consumer issues within the EBA.

Key Information and Conclusions

• The EBA is committed to enhancing transparency and information sharing among national authorities.
• There was agreement on the need for a revised Pillar 3 strategy and improved communication in colleges.
• The EBA will continue to work on capital instruments, stress testing, and regulatory reform.
• The role of the EBA in policy formulation and technical positions was clarified, with a focus on technical challenges.
• The EBA will support ESMA in assessing the impact of the endorsement regime and conduct data collection on securitisation exposures.
• Due to time constraints, several agenda items were dealt with via written procedure, with deadlines for feedback set.
• The EBA's role in facilitating discussions and ensuring regulatory coherence was reaffirmed.

Participants

Voting Members

Country Observers

Institutions Representatives

Others

• EBA Executive Director: Adam Farkas
• EBA Director Oversight: Piers Haben
• EBA Director Regulation: Isabelle Vaillant
• EBA Legal: Michelle Ewing

Conclusion

The meeting focused on improving transparency, information sharing, and regulatory coherence within the EU banking sector. Several key actions were proposed and agreed upon, including the development of ITS, the revision of Pillar 3 strategy, and the support for ESMA's endorsement regime. The EBA will continue to work closely with the ESRB and national authorities to enhance the stability and resilience of the banking system.