EBA欧洲银行-EBA-BS-2016-302rev1-28Final-Minutes-BoS-20-September-201629_13页_304kb

EBA Board of Supervisors – Final Minutes Summary (20 September 2016)

Core Content

The EBA Board of Supervisors (BoS) meeting held on 20 September 2016 in London covered a range of topics, including risk assessment, training activities, work programme approval, and international regulatory developments. The meeting also addressed the procedural and legal aspects of the EBA's operations, such as the expansion of data collection, professional secrecy rules, and the inclusion of EFTA countries in EEA agreements.

Main Points and Key Information

Agenda Item 1: Welcome, Approval of Agenda and Minutes

• The BoS approved the agenda and minutes from previous meetings (June 2016 and July 2016 teleconferences).
• The Estonian Financial Supervisory Authority (Finantsinspektsoon) offered to host the BoS away day in Tallinn in July 2017.

Agenda Item 2: Update on Risks and Vulnerabilities

• CET1 Ratio: Improved in Q2 2016, but with significant country dispersion.
• Non-Performing Loans (NPLs): Still too high in Europe, despite slight improvements in asset quality.
• Conduct Risk: Affects profitability.
• Legal Challenges in Slovenia: Concerns over compulsory write-downs of capital instruments and the methodology used in AQR/stress tests.
• BoS Discussion: Agreed to formally highlight the issues to the Commission and respond to the Bank of Slovenia.

Agenda Item 3: Election of a Member of the Management Board

• Mr. Andrew Bailey left the UK's Bank of England on 30 June 2016.
• Mr. Jesper Berg from the Danish Financial Supervisory Authority (Finanstilsynet) was elected as a new Management Board member.
• His term will last until 19 March 2019.

Agenda Item 4: Election of a Member and Substitute Members of the Mediation Panel

• The number of substitutes was increased from four to six.
• Mr. Jo Swyngedouw (Banque Nationale de Belgique) was elected as the new member.
• Mr. Jesper Berg, Mr. Martin Noréus, and Mr. Sam Woods were elected as substitutes.

Agenda Item 5: Draft Rules of Procedure on Professional Secrecy and Confidentiality for Non-Staff

• The ESAs decided to adopt common rules on professional secrecy and confidentiality.
• Concerns were raised about the alignment with national regimes and the potential impact on information sharing with other supervisory bodies.
• The BoS requested written comments and supported the EBA's continued work on the rules with their input.

Agenda Item 6: Discussion on EBA Training Activities

• The EBA proposed training activities, which were adjusted to align with the Commission's budgetary guidance.
• Members emphasized the need for coordination with other training initiatives (FSI, SSM) and a clear curriculum.
• The BoS supported the training proposal, which would be included in the draft 2018 budget.

Agenda Item 7: Approval of the 2017 EBA Work Programme

• The draft work programme was adjusted based on MB feedback.
• The BoS agreed to amendments and requested the EBA to transmit the final version to the European Parliament, Council, and Commission by 30 September 2016.
• Priority areas included Q&As, FINTECH, and resolution matters, with flexibility to accommodate future regulatory changes.

Agenda Item 8: Update on Peer Review 2016 and Topics for 2017

• The peer review on the ITS on Supervisory Reporting was scheduled for December 2016.
• The 2017 peer review topic was set on the guidelines for O-SILs under CRD.
• The BoS agreed to proceed with the peer review on the guidelines for O-SILs.

Agenda Item 9: Discussion on Expansion of EBA COREP/FINREP Sample and Data Infrastructure

• The proposal to expand data collection to the full population of EU financial institutions was supported.
• The EBA would need to upgrade its IT system, with a one-off investment in 2018 and implementation in 2019.
• A detailed proposal with budgetary implications would be presented in early 2017.

Agenda Item 10: Quantitative and Qualitative Analysis of IFRS 9 Implementation

• The EBA sought BoS input on the publication of the impact assessment report and transitional arrangements.
• The report would include both qualitative and quantitative data.
• The BoS agreed to proceed with the analysis and to work on prudential interaction with IFRS 9.

Agenda Item 11: Own Funds – AT1 Final Standard Templates and Monitoring Report

• The final version of the AT1 monitoring report and templates was presented.
• The BoS approved their publication on the EBA website.

Agenda Item 12: Final Report on EBA Guidelines on Remuneration Requirements for Sales Staff

• The guidelines on remuneration policies for sales staff were introduced and approved by the BoS.
• They apply to credit institutions, payment institutions, e-money institutions, and credit intermediaries.

Agenda Item 13: Consultation Paper on Fee Information Document and Terminology

• Three consultation papers were approved for publication.
• The EBA committed to informing the Commission of the late submission of these standards.

Agenda Item 14: Consultation Paper on Professional Indemnity Insurance Guidelines

• A consultation paper on PII under PSD2 was approved.
• Suggestions were made to adjust the guideline on currency conversion and remove a specific question.

Agenda Item 15: Follow-up on Written Procedure on Passporting RTS

• The BoS agreed to wait for the Commission's clarification on passporting criteria before proceeding with the RTS.

Agenda Item 16: Draft Consultation Paper on IT Risk Supervision

• A consultation paper on ICT risk assessment was approved for a 3-month period.

Agenda Item 17: Follow-up to the 2016 BoS Away Day

• The BoS agreed to develop a coordinated project on FinTech.
• A workshop on digital banking and FinTech was invited for 4 October 2016 in Lisbon.

Agenda Item 18: Incorporation of Financial Services Law into EEA Agreement

• The first package of Union law was incorporated into the EEA Agreement.
• The second package, including CRR, CRDIV, and BRRD, is under discussion.
• The EBA will update the BoS Rules of Procedure to allow EFTA CAs to attend discussions.

Participants and Observers

• Voting Members: Representatives from 28 EU Member States.
• Non-Voting Members: SSM, European Commission, EIOPA, ESMA, ESRB.
• Observers: SRB, Iceland, Liechtenstein, Norway.
• Representatives:
  • SRB: Dominique Laboureix
  • Commission: Giuseppe Siani
  • EIOPA: Fausto Parente
  • ESMA: Dominique Thienpont
  • ESRB: Fausto Parente

Conclusion

The meeting concluded with the BoS supporting several key initiatives and proposals, including the expansion of data collection, the adoption of IFRS 9 analysis, and the continued development of training and supervisory guidelines. The EBA committed to incorporating BoS feedback into its future activities and to maintaining close coordination with national authorities and other regulatory bodies.